Group 1: Investor Relations Activity Overview - The investor relations activity took place on June 5, 2025, with a total of 22 participants from various investment firms and individual investors [3] - The event was hosted in the company's conference room, attended by key company executives including the Chairman and General Manager [3] Group 2: Company Export and Market Strategy - The company primarily serves domestic customers, with over 90% of its clients located in China; international sales account for approximately 7% of 2024 revenue [4] - The company is focused on high-performance products for automotive displays and high-end industrial control displays, aiming to provide cost-effective solutions through technological advancements [4] Group 3: Core Competitiveness and R&D Investment - The company's core competitiveness lies in its precise manufacturing of polarizers, with R&D expenses constituting about 7% of its revenue in 2024 [5] - The company plans to enhance R&D investment in line with revenue growth and new product development needs [5] Group 4: Import Substitution and Future Plans - There is significant potential for domestic substitution of upstream core materials, with ongoing collaborations to enhance R&D capabilities [6] - The company is exploring various development paths, including potential mergers and acquisitions in the capital market to strengthen its market position [7] Group 5: Financial Performance and Supply Chain - The company experienced a decline in revenue and profit in the first quarter due to market price adjustments, although overall production and sales remained stable [8] - Approximately 60% of the materials used by the company are sourced from overseas suppliers, including those from Japan, South Korea, and Taiwan [9]