Core Viewpoint - The company emphasizes its commitment to traditional Chinese culture and the "Spring Festival economy," launching new products to enhance sales during festive seasons [2] Group 1: Product Development - The company will launch the 2026 Year of the Horse gold bars, marking 24 consecutive years of exclusive sales in Beijing [2] - A collaboration with the Xu Beihong Memorial Museum will introduce a series of cultural and creative precious metal accessories by December 31, 2025 [2] - New product lines such as "Hugging Horse" and "Little Horse Duo Duo" have been developed to enrich the festive product offerings [2] Group 2: Market Strategy - The company is focused on optimizing its product structure and deepening IP cooperation to capture consumer opportunities during holidays like New Year's and Spring Festival [2] - Enhancements in shopping experience are being implemented to drive sales growth in the early stages of 2026 [2]

Core Viewpoint - Cai Bai Co., Ltd. has shown strong sales performance in the fourth quarter, continuing the positive trend from the third quarter, with a focus on cultural products and investment items due to sustained market demand [1][2]. Group 1: Sales Performance and Inventory Management - Since the fourth quarter, the company has maintained a good sales momentum, with jewelry sales recovering and investment products remaining in high demand [2]. - The company utilizes a fully direct sales model to efficiently monitor market dynamics and has implemented a "sales-driven procurement" strategy along with small-batch, multi-batch precise procurement to optimize dynamic inventory management, effectively mitigating risks from fluctuations in gold prices [2][3]. Group 2: Outlook for Q1 2026 and Spring Festival - For the first quarter of 2026 and the upcoming Spring Festival, the company plans to deepen its focus on the "New Year economy" by launching the 2026 Year of the Horse commemorative gold bar, marking 24 consecutive years of exclusive sales in Beijing [3]. - The company has also collaborated with the Xu Beihong Memorial Museum to introduce a series of cultural and creative precious metal products, including self-designed items like "Hugging Horse" and "Little Horse Duo," which are set to enhance the product lineup for the festive season [3]. - By optimizing product structure, deepening IP collaborations, and enhancing shopping experiences, the company aims to capitalize on consumer opportunities during the New Year and Spring Festival, injecting growth momentum into the sales for the start of 2026 [3].