Financial Performance - In 2024, the company achieved total revenue of approximately CNY 4.778 billion, remaining stable compared to 2023 [2] - Net profit attributable to shareholders was approximately CNY 500 million, a year-on-year increase of 15.54% [2] - Net profit excluding non-recurring gains and losses was approximately CNY 527 million, up 44.42% year-on-year [2] - Net cash flow from operating activities reached CNY 703 million, an increase of 44.21% [2] Business Segments Intelligent Packaging Equipment - Revenue for the intelligent packaging equipment segment was CNY 4.021 billion, with a gross margin of 31.58%, an increase of 3.74% year-on-year [2] - The Fosber Group, a subsidiary, generated revenue of CNY 2.975 billion, a 2% increase year-on-year [2] - The segment's profitability improved through internal collaboration and cost optimization [2] Marine Power Equipment - The subsidiary Baisheng Power achieved revenue of CNY 757 million, showing steady growth [3] - In 2024, Baisheng Power launched a 300-horsepower gasoline outboard motor, breaking the long-standing monopoly of Japanese and American brands [3][8] Strategic Development - The company follows a "1+N" development model focusing on core business and external growth through strategic investments [3] - Emphasis on vertical integration and strategic investments in emerging industries to enhance competitiveness [4] - Recent investments in robotics and artificial intelligence aim to build a comprehensive smart industry ecosystem [11] Shareholder Returns - Since its listing, the company has distributed approximately CNY 153 million in cash dividends [12] - The company has repurchased shares totaling approximately CNY 1.802 billion, with 86.46% of repurchased shares already canceled [12] Market Expansion - The Fosber Group is expanding into emerging markets such as Latin America and Africa, establishing a subsidiary in Mexico [6] - The company is enhancing its after-sales and equipment parts business, which has become a significant growth driver [6] Future Outlook - The company anticipates continued growth in the intelligent packaging equipment sector and aims to leverage its new marine products to capture high-value markets [6][8]