Investment Projects - The company is investing CNY 1.366 billion in the upgrade of the linked alkali project, which is expected to be operational by Q2 2025 [1] - An investment of CNY 199 million is being made for the thermal system upgrade, which is currently in trial operation [1] - A new project for 1.5 million tons of vacuum salt is in the preliminary stage [1] - A new project for 400,000 tons/year of value-added nitrogen fertilizer is also in the preliminary stage [1] - The sodium-ion battery cathode material project is in R&D and small-scale testing, with samples sent for performance testing [1] Acquisition and Financial Performance - The acquisition of Hongyi Company through a private placement has been approved by the Shenzhen Stock Exchange and is pending final registration approval [2] - Hongyi Company achieved a net profit of CNY 75.1697 million in 2024 and continued to be profitable in the first four months of 2025 [2] Growth Potential - The linked alkali upgrade project is expected to improve profitability and reduce costs once operational [3] - The thermal system upgrade is projected to save approximately CNY 11 million annually once fully operational [3] - The acquisition of Hongyi Company is anticipated to enhance the company's profitability [3] - The company plans to further improve profitability through minor production system adjustments and strict cost management [4]