Group 1: Company Positioning and Strategy - The company is positioned as a computing power investment platform in Shaoguan, actively promoting related projects despite no tangible outcomes yet [2][3] - In 2025, the company plans to increase R&D investment, focusing on both its core business (e.g., USB drives, solid-state drives) and computing power initiatives [3][4] - The computing power 2.0 platform has just been launched, and revenue generation is still in the early stages [3][4] Group 2: Collaboration and Partnerships - The company is exploring cooperation with the Shaoguan Data Industry Investment Development Co., focusing on complementary strengths in computing power [3][4] - A comprehensive cooperation agreement with Huawei has been signed, aimed at leveraging mutual strengths in the "East Data West Computing" initiative, although no specific product agreements have been finalized yet [11][12] - The company is working with partners to establish a storage base in the Guangdong-Hong Kong-Macao Greater Bay Area, with an expected total investment of up to 1 billion yuan, aiming for an annual production capacity of 970,000 SSDs [12][13] Group 3: Financial Performance and Challenges - The company has reported continuous losses for three consecutive years, with the first quarter of 2025 also showing a loss [15][16] - As of March 31, 2025, the company had cash reserves of 570 million yuan and plans to apply for a bank credit line of 200 million yuan to support computing power business development [15][16] - The company is actively managing inventory levels and exploring government subsidies to improve financial performance in traditional business areas [15][16] Group 4: Market and Product Development - The company has not yet launched computing power leasing services but is monitoring the market for potential projects [5][6] - The company is assessing various research and development teams for integrated computing and storage technologies, with plans to initiate relevant projects based on evaluations [10][15] - The company is currently not directly involved in the construction and operation of the Shaoguan computing power center but is planning to collaborate with leading server companies to provide necessary hardware [15][16]