Group 1: Investor Relations Activity Overview - The company held an online performance briefing on May 14, 2025, with participation from key executives including the chairman and general manager [2] - A total of 67 questions were raised during the Q&A session, with 48 questions (approximately 72%) related to shareholder inquiries [2][3] - Over 50% of the other questions raised were found to contradict information available on the company's official website and previous disclosures [3] Group 2: Financial Performance - In 2024, the company achieved a revenue of CNY 308,987.37 million, representing a year-on-year growth of 10.38% [4] - The net profit attributable to shareholders was CNY 3,812.14 million, a decrease of 42.55% compared to the previous year [4] Group 3: Operational Challenges and Strategies - The company is facing a decline in accounts receivable and inventory turnover rates, which could lead to a negative cycle of "increased revenue without profit" [3] - To enhance profitability, the company plans to implement lean management practices, optimize production processes, and strengthen credit management for accounts receivable [3][4] - The company aims to improve operational efficiency by focusing on cost control, risk management, and product innovation [3] Group 4: Research and Development - In 2024, the company reported 17 completed R&D projects, with 14 products achieving advanced or leading status in the domestic market [3] - The company has been recognized as a national "specialized, refined, distinctive, and innovative" small giant, reflecting its strong product innovation capabilities [6] Group 5: Market Strategy and Product Development - The company plans to deepen its involvement in the special cable sector and adapt its product offerings to meet the demands of emerging industries such as robotics and renewable energy [4][7] - The company is focusing on optimizing its product structure and enhancing its market presence in both the East China and Northeast regions, tailoring products to local environmental conditions [8] Group 6: Future Outlook and Industry Trends - The domestic cable industry is expected to grow, driven by ongoing investments in grid upgrades, with an estimated total investment of nearly CNY 3 trillion during the 14th Five-Year Plan period [7] - The demand for cables in the industry is projected to reach approximately CNY 1.8 trillion by 2026 [7]

Company Overview - The company specializes in the research, production, and sales of electric wires, cables, and cable accessories, primarily serving major clients such as the State Grid Corporation and Southern Power Grid [5][12] - The company achieved operating revenue of 3,089,873,737.70 yuan, representing a year-on-year increase of 10.38%, while the net profit attributable to shareholders decreased by 42.55% to 38,121,440.92 yuan [5] Financial Performance - As of December 31, 2024, the company's total assets amounted to 428,040.81 million yuan, with equity attributable to shareholders of 166,233.53 million yuan [5] - The company received a standard unqualified audit opinion from the accounting firm Xin Yong Zhong He [3] Business Segments - The main products include 220kV and below power cables, electrical installation wires and cables, overhead bare conductors, and cable accessories, which are designed to meet various special performance requirements [7][10] - Power cables are used for transmitting and distributing high-power electrical energy, while electrical installation wires and cables connect power to various devices [8][9] Industry Position - The company has been recognized as one of the top 100 competitive enterprises in the Chinese cable industry for several consecutive years [12] - The wire and cable products are essential for the electrification and informationization of society, widely used in power generation, transmission, and various applications across different sectors [11]