Core Viewpoint - DAYLIGHT PMS is a significant product for the company's globalization and platform transformation, replacing older hotel information management systems and other subsystems [1][2] Group 1: Product and Market Position - DAYLIGHT PMS has been recognized by major international hotel groups such as Peninsula, InterContinental, and Marriott, as well as domestic groups like Diaoyutai MGM and ShouLai NuoJin [1] - The system includes core functionalities such as hotel operations, booking management, and revenue management, along with installation and training services [1] - The agreement with MGM China’s subsidiary, MGM Grand, signifies the recognition of DAYLIGHT PMS's technological leadership by another large international resort hotel group [1] Group 2: Financial and Brand Impact - The successful signing and subsequent implementation of DAYLIGHT PMS will establish a strong benchmark effect in the global large resort hotel market, leading to long-term financial benefits and positive brand effects for the company [2]

Group 1: Global Expansion and Client Acquisition - INFRASYS POS has signed all top five international hotel groups, with a total of 4,333 clients expected by the end of 2024 [1] - DAYLIGHT PMS has been implemented in 629 hotels across over 20 countries, aiming to leverage flagship clients for further international hotel group contracts [2] - New contracts signed in 2024 include notable clients such as MELCO, Kempinski, and Rosewood, with significant progress in Europe and Asia-Pacific regions [4] Group 2: Research and Development Costs - The company maintains a global strategy for R&D, sales, and service networks, despite high costs in overseas markets, particularly in Europe [3] - Ongoing investments in overseas projects are expected to continue as the company undergoes a critical phase of globalization [3] Group 3: Market Positioning and Product Offerings - DAYLIGHT PMS targets international chain hotels and luxury regional hotel groups, focusing on strong group control rather than just hotel tier [6] - Additional cloud PMS products are available for local star-rated hotels with international management features, such as Cambridge cloud hotel management system and XMS [6] Group 4: Shareholding and Management Stability - The company has reacquired shares in Sihon Software to maintain the founding shareholders' stake, which is beneficial for management stability and employee motivation [7]