Group 1: Investor Relations Activity Overview - The company held an earnings briefing on April 21, 2025, via online platform, focusing on the 2024 annual report [3] - Key attendees included the Chairman, Secretary of the Board, Financial Officer, and Vice General Manager [3] Group 2: Key Questions and Responses - **Revenue Growth**: The revenue from iron-chromium-aluminum fibers saw a significant increase, with applications in metal fiber burners and automotive exhaust filters [4] - **Project Progress**: The fundraising project land has been secured, with completion of bidding procedures expected by December 2024; no revenue or profit is anticipated until 2027 [4] - **Core Competitiveness**: The company has achieved domestic leadership and international advancement in metal fiber technology, with a focus on sustainable growth and new product development [4] Group 3: Financial Metrics and Projections - **R&D Investment**: R&D expenses accounted for 7.07% of revenue in 2024, with plans to maintain R&D investment between 7% and 8% of revenue in 2025 [5][6] - **Gross Margin**: The gross margin for products in 2024 was reported at 37.91% [6] - **Dividends**: The company aims to maintain a high dividend payout ratio while pursuing revenue growth [5] Group 4: Market Conditions and Strategies - **Material Costs**: Recent increases in metal material prices have had a minimal impact on procurement and production costs; the company plans to mitigate these effects through efficiency improvements and cost-saving measures [6]