Financial Performance - The company reported a net loss of 38.86 million yuan in 2024, primarily due to impairment provisions for long-term equity investments and goodwill, as well as underperformance in certain business segments [3][4]. - Revenue growth for 2024 is projected at 8.77%, but the core business has achieved profitability when excluding impairment impacts [3][4]. - Operating cash flow increased significantly by 1168.76% to 105 million yuan, attributed to improved credit risk management and collection efforts [3][4]. Business Strategy - The company plans to optimize and divest underperforming business segments to mitigate losses [3][4]. - A new subsidiary, Shanghai Wanyou Engine Cultural Media Co., Ltd., was established to enhance cross-industry collaboration in motorsport content and marketing [3][4]. - The company is focusing on expanding its international market presence, with overseas business revenue accounting for 46.73% in 2024 [6][7]. Investment and Financing - The company is exploring various financing options, including potential bond issuance, to fund key projects like the Hainan New Energy Vehicle initiative [4][5]. - A share repurchase plan has been implemented, with a price cap set at 17 yuan, based on regulatory guidelines and market conditions [4][5]. Risk Management - The company has implemented measures to manage risks associated with credit and operational safety, including comprehensive insurance coverage for events [10][11]. - Strategies are in place to address foreign exchange risks, with a significant decrease in financial expenses due to favorable currency movements [19]. Market Opportunities - The company is leveraging government policies that support the integration of sports events and tourism to expand its business opportunities [8][9]. - There is a focus on developing digital sports products and enhancing the overall spectator experience through technology [15][16]. Collaboration and Partnerships - The company maintains long-term partnerships with international racing organizations and automotive brands, enhancing its competitive position in the motorsport industry [14][19]. - Collaborations with leading electric vehicle manufacturers are ongoing, with a focus on integrating new energy vehicles into racing events [11][12].