Financial Performance - The company's traditional piano market share increased from 8% to 12.5% over the past year [2] - The total market for traditional pianos has decreased from 500,000 units in 2019 to 85,000 units, a decline of approximately 83% [2] - E-commerce and promotional expenses increased by 57.92%, yet revenue and net profit both declined year-on-year in the first quarter [2] Product Development - The company launched several smart digital pianos equipped with AI interaction systems, which can perform automatic playing, real-time error correction, and more [2] - The smart digital pianos were introduced to the market in April 2025, expected to boost sales of electric pianos [2] Investor Relations - The company plans to enhance communication with investors through various channels, including performance briefings and online interactions [2] - The management acknowledges the need to adapt to changing consumer habits, particularly among younger demographics [3] Industry Outlook - The electric musical instrument market grew by 15% last year, indicating a positive trend for the industry [3] - The overall music instrument industry is facing significant pressure, impacting performance across various companies [3]