Company Overview - Company is a supplier and service provider of overall solutions for engineered wood production equipment, focusing on the research, production, sales, and service of engineered wood production lines and supporting equipment [2][3] - Core products include continuous flat-press production lines for producing various types of engineered wood such as fiberboard and particleboard [2][7] - The company also develops equipment for new biomass materials and has successfully created production equipment for inorganic fiberboards and thermoplastic composite boards [2][11] Industry Development - The engineered wood machinery sector is a significant subfield of wood and bamboo processing machinery, encompassing all equipment needed for the production and surface decoration of engineered wood [5] - The industry has seen rapid development due to policy support and market demand, with domestic manufacturers increasingly replacing imported equipment and participating in international competition [9][10] - The market is characterized by high entry barriers and a concentrated competitive landscape, with major players including the company itself, which has a leading market share [10][11] Market Demand and Trends - Recent years have seen significant growth in demand for continuous flat-press production lines due to downstream capacity expansion and the elimination of outdated production capacity [7] - In 2024, six fiberboard production lines with an additional capacity of 820,000 cubic meters per year and 48 particleboard production lines with an additional capacity of 15.41 million cubic meters per year were established [7] - The international market, particularly in developing countries, is expected to grow as urbanization increases, leading to higher demand for engineered wood products [8] Financial Performance - For the fiscal year 2024, the company reported a net profit attributable to shareholders of 154.65 million yuan and an ending undistributed profit of 498.49 million yuan [30] - The proposed profit distribution plan includes a cash dividend of 6.2 yuan per 10 shares, totaling 54.09 million yuan, with no stock dividends or capital reserve transfers [30][31] Audit and Compliance - The company has proposed to reappoint Zhongxinghua Accounting Firm as its external auditor for the fiscal year 2025, following a thorough evaluation of the firm's qualifications and past performance [14][24] - The audit committee and supervisory board have both approved the reappointment, emphasizing the firm's capability to meet the company's audit requirements [24][25]