Group 1: Financial Performance and Shareholder Concerns - The company’s subsidiary, Sichuan Tongfengyuan, did not meet performance targets during the 2020 performance guarantee period, leading to goodwill impairment testing and recognition of losses [1] - The company reported a total litigation loss of CNY 128 million, with an expected recoverable amount of CNY 1.21 million after the recent retrial [3] - The company has not distributed dividends due to negative retained earnings as of the end of 2024 [4] Group 2: Product Development and Collaborations - The company is actively developing low-altitude ducted fans in collaboration with Tsinghua University, focusing on high reliability, lightweight, and low-cost features [2] - The company has initiated the development of ventilation systems for controlled nuclear fusion, including specialized products like tritium ventilation systems [2] - Several prototypes of ducted fans are undergoing various tests, including performance and durability tests [2] Group 3: Market Conditions and Strategic Adjustments - The construction market is facing challenges, leading the subsidiary to reduce new project acquisitions to avoid cash flow issues [4] - The company is in discussions with multiple manufacturers in the low-altitude aircraft sector for potential collaborations [2] - The company’s management emphasizes that recent share reductions by certain shareholders are unrelated to the company's operational performance [6]