Core Viewpoint - The company, Yiyi Hygiene Products Co., Ltd., reported significant growth in revenue and net profit for 2024, driven by stable orders from existing customers and new client acquisitions, marking a historical high in performance [1]. Financial Performance - In 2024, the company achieved a revenue of 1.798 billion yuan, a year-on-year increase of 34.41%, and a net profit attributable to shareholders of 215 million yuan, up 108.34% [1]. - For Q1 2025, the company continued its growth trajectory with a revenue of 485 million yuan and a net profit of 54.09 million yuan, reflecting a year-on-year growth of 27.96% [1]. Dividend and Investor Confidence - The company announced a dividend plan for 2024, proposing a cash dividend of 3.7 yuan per 10 shares, totaling 68.28 million yuan [1]. - The chairman, Gao Fuzhong, demonstrated confidence in the company's long-term development by purchasing 790,600 shares for a total of 10.236 million yuan [2]. Market Position and Product Development - The company has a strong market presence, with its disposable pet hygiene products accounting for 35.77% of the domestic customs export share in 2024 [2]. - The company is enhancing its production capacity by adding advanced production lines and upgrading existing equipment, while also integrating modern AI technology into its production processes [2]. Expansion and Strategic Initiatives - The company is accelerating its "domestic + overseas" capacity layout, with plans to establish its first overseas production base in Cambodia by April 2025, expected to produce 270 million pet pads annually [3]. - The company is actively responding to national policies to expand domestic demand and is focusing on developing its own brands, such as "Lesh Pet" and "Yiping Flower House" [3]. - The company is also involved in setting up multiple industry funds to seize merger and acquisition opportunities in the pet industry, aiming to expand into other essential pet products [3].