Core Viewpoint - The company, Huamao Technology, is progressing with its Kaimeike project, with expectations for trial production phases in 2026 and 2027 [1] Group 1: Project Progress - As of December 31, 2024, the main structure of the administrative and public areas of the Kaimeike project (Phase 1) has been completed, while internal and external decoration work is ongoing [1] - The factory and workshop construction is currently in progress, with Phase 1 expected to have some workshops ready for debugging in the first half of 2026 [1] - The company aims for trial production of some workshops in Phase 1 to commence by mid-2026, with additional workshops planned for trial production in the second half of 2026 [1] Group 2: Future Plans - For Phase 2 of the Kaimeike project, which has a capacity of 15.3 million tons, some workshops are expected to be debugged in the second half of 2026, with trial production targeted before the end of 2026 [1] - Additional workshops in Phase 2 are anticipated to achieve trial production in 2027 [1] Group 3: Company Principles - The company emphasizes a pragmatic and efficient approach to advancing all projects, with decisions focused on commercial logic and maximizing shareholder interests [1]