Group 1 - The company plans to apply for a credit line of RMB 70 million from Beijing Rural Commercial Bank to support its business development and ensure sustainable growth [1][2] - The board approved a credit line of RMB 100 million from Ningbo Bank for various financing needs, including bank acceptance bills and working capital loans [1][2] - The credit facilities will be guaranteed by the company's actual controller, ensuring financial backing for the company's operations [1] Group 2 - The company intends to invest in an eco-friendly new material automotive interior project with a total estimated investment of RMB 1 billion, with the first phase requiring RMB 200 million for four production lines [2] - The project will be supported by the Huainan High-tech Industrial Development Zone, aiming to enhance the company's competitiveness in the synthetic leather industry [2] - The board authorized the management to handle all subsequent matters related to this investment, ensuring streamlined execution of the project [2]

Group 1: Overseas Sales Performance - In 2024, the company achieved significant growth in overseas sales, with revenue reaching 286 million CNY, an increase of 96.65% compared to the previous year [2] - In Q1 2025, overseas sales continued to grow, achieving approximately 100 million CNY, representing a 315% increase year-on-year [3] Group 2: Automotive Interior Leather Business - The automotive interior leather segment generated revenue of 727 million CNY in 2024, reflecting a year-on-year growth of 19.8% [3] - The company is focused on deepening market strategies and aligning with the supply chain needs of brand automotive manufacturers to expand its customer base [3] Group 3: Future Market Expansion - The company plans to continue expanding its overseas market presence to enhance overall profitability [2] - The subsidiary, Hongxing Automotive Leather, aims to secure new models from existing clients while targeting new customers [3]