Group 1: Company Strategy and Innovation - The company leverages flexible production technology to meet the increasing demand for personalized furniture while maintaining cost control [2] - The introduction of the "AI Design Factory" aims to enhance operational efficiency and transform the business model through systematic AI deployment [2][3] - The launch of integrated wall and cabinet products represents an advancement in the company's "whole-house customization" model, enhancing overall design coherence [3] Group 2: Financial Performance and Shareholder Returns - The company has maintained a cash dividend of 9 RMB per 10 shares for two consecutive years, with plans to continue this trend based on operational performance [4] - The profit distribution plan for 2024 aims for a total cash dividend of no less than 100 million RMB, reflecting a commitment to shareholder returns [4] - The company reported a significant net cash flow exceeding 1.1 billion RMB over the past two years, indicating strong cash-generating capabilities [4] Group 3: Cost Management and Operational Efficiency - The company reduced its workforce by 16.22% to 7,689 employees by the end of 2024 as part of ongoing organizational restructuring [5] - Continuous cost control measures and operational efficiency optimizations have been implemented to enhance profitability [5][7] - The integration of a comprehensive knowledge base covering 300,000 product types and 3 million housing designs has improved operational processes and customer interaction [5][7] Group 4: Market Expansion and Future Plans - The company plans to expand its market presence through a "1+N" city development model and aims to open 500 stores across 9 cities [6][7] - The strategic focus for 2025 includes enhancing product quality, optimizing supply chain management, and leveraging AI technology for overseas business expansion [6][7] - The company is committed to adapting to the fourth-generation housing market by developing suitable products and services [8]

Financial Performance - In 2024, the company achieved a revenue of CNY 3.789 billion and a net cash flow from operating activities of CNY 343 million, demonstrating strong cash generation capabilities [2] - In Q1 2025, the company reported a revenue of CNY 741 million, with a significant improvement in net profit and a 70% increase in contract liabilities compared to the previous year [2] Strategic Initiatives - Key operational focuses for 2024 include: 1. Systematic deployment of AI to enhance efficiency across the business chain 2. Development of an "AI Design Factory" to drive store operations 3. Implementation of a "1+N" model for diversified recruitment strategies 4. Promotion of a new direction in second-hand housing transactions through integrated renovation services [3] - The company aims to accelerate overseas expansion and enhance its export capabilities through customized solutions [3] Policy Impact - The participation of dealers in the old-for-new policy has significantly increased in 2025, reflecting a positive response to government incentives aimed at boosting consumer spending [4] - The government has committed to supporting home renovation and smart home consumption through enhanced subsidies, indicating a sustained commitment to stimulating the market [4] Dividend Strategy - The company plans to distribute a cash dividend of CNY 0.9 per 10 shares, resulting in a dividend yield of 7.17% based on the closing price on April 28 [6] - The profit distribution plan for 2024-2026 aims for a minimum total cash dividend of CNY 100 million annually, contingent on positive cash flow from operations [6] Product Development - The introduction of integrated door-wall-cabinet products represents an evolution of the company's "whole-house customization" model, enhancing design coherence and overall aesthetic appeal [7] AI Technology Application - The company has integrated a knowledge base covering 300,000 products, 3 million housing types, and 30 million design solutions to enhance operational efficiency [8] - AI-driven tools have improved user interaction and reduced design delivery times, contributing to cost reduction and efficiency gains [9]