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Group 1: Product Development and Market Strategy - The company's new generation hotel cloud PMS product has been in development for many years, but the expected acceleration in contract signings has not yet materialized due to the lengthy selection process by hotel groups [1][2] - The selection process for core systems like PMS involves strategic planning by hotel management, followed by a formal bidding process that includes RFI and RFP stages, product demonstrations, and potential pilot projects before signing the Master Service Agreement (MSA) [1][2] - The company has successfully signed contracts with several international benchmark clients, including Half Island, InterContinental, and Kempinski, as well as domestic brands like Diaoyutai MGM and Shouluo Nuojin [2] Group 2: Customization and Internal Assessment - The product line for international hotel groups is standardized, with customization achieved through different subsystems during implementation [3] - Internal assessments are based on various KPIs tailored to different stages of company development and employee roles, rather than solely on performance metrics [4] Group 3: AI Integration and Financial Performance - The company is actively exploring AI applications, particularly in internal auditing and data analysis, to enhance its cloud products [5] - The forecast for 2024 indicates continued losses primarily due to increased R&D investments, higher amortization of intangible assets, and the need for international business revenue to grow with the number of client implementations [5][6] - The company has fully transitioned its hotel industry products to a 100% SaaS model, with annual recurring revenue (ARR) expected to increase as more clients come online [6] Group 4: Future Development and Workforce Stability - Future development will focus on integrating various subsystems into the company's enterprise platform, as the main functionalities have already been completed [6] - The overall employee count is expected to remain stable [6]