Core Viewpoint - The company aims to strengthen its position in the malt industry and become a world-class malt supplier, focusing on high-end development and organic growth in both quantity and quality [2]. Group 1: Company Strategy - The company's development strategy is to deepen its core malt business and consolidate its leading position in the industry [2]. - The company has over 20 years of cooperation history with major beer manufacturers such as Budweiser, Carlsberg, Heineken, and others, indicating strong industry relationships [2]. - The company's malt production bases are strategically located in key regions like Guangdong, Zhejiang, Jiangsu, Shandong, and Hebei, aligning with major beer brewing and consumption markets [2]. Group 2: Market Position and Competition - The company is actively collaborating with regional small and medium-sized clients as well as craft beer customers, providing a wide range of specialty and customized malt products [2]. - The company acknowledges the high added value of craft beer and the reduced marginal effect of transportation costs, indicating a competitive landscape in the craft beer malt sector [2]. - Future plans include continuing to deepen the malt business and pursuing opportunities for capacity expansion and potential acquisitions [2].

Core Viewpoint - The company is progressing with the construction of a new specialized malt production line with a capacity of 50,000 tons per year, expected to be completed by the end of 2025 [1] Group 1: Project Development - The new malt production line project is under the subsidiary Baomai and is anticipated to be operational by the end of 2025 [1] - After the completion of the production line, the company will undergo system debugging, engineering acceptance, and supplier qualification certification before commencing external sales [1] Group 2: Logistics and Insurance - The company utilizes various transportation methods such as trucks, trains, and ships for product delivery, typically managed by third-party logistics providers [1] - Full insurance coverage for the products is purchased by the company, extending until the delivery stage [1] Group 3: Business Focus - The company is committed to strengthening its core malt business and currently has no plans to expand into the beer industry [1]