Core Viewpoint - The company held an earnings briefing to discuss its 2024 annual and Q1 2025 performance, addressing investor inquiries regarding business impacts, revenue recognition, and growth strategies [2][3]. Group 1: Business Impact and Revenue Recognition - The company does not engage in trade with the U.S., and the impact of U.S. tariffs on its business is minimal. The focus will remain on expanding sales in international markets outside the U.S. [3] - The company's domestic revenue accounted for 89.07% of total revenue in 2024, while over 60% of orders came from overseas. This discrepancy is due to the long production and delivery times for large metallurgical equipment orders, which can take 12-18 months to fulfill [4]. Group 2: Business Expansion and Future Growth - The company has developed a complete "continuous casting - hot rolling - cold rolling" industrial chain, enhancing customer loyalty and entering high-value markets such as automotive and home appliances. This diversification is expected to optimize revenue structure [5]. - The company has invested 463 million yuan in its "Intelligent Equipment Production Base Construction Project," which is projected to significantly increase production capacity and shorten delivery times, allowing for expansion into non-metallurgical sectors [6]. - The breakthrough in the Indian market is a significant milestone for the company's overseas expansion, with India being the second-largest steel producer globally. The company has secured contracts that validate its technological capabilities and open up high-end equipment markets [8]. Group 3: Financial Performance - In 2024, the company reported revenues of 956 million yuan and a net profit of 56.35 million yuan. For Q1 2025, revenues were 117 million yuan with a net profit of 13.72 million yuan. The company holds 1.8 billion yuan in orders, which could drive performance recovery in 2025 [9].