Group 1: Revenue Growth Factors - The revenue growth in the rail transit equipment parts sector is primarily driven by increased demand for new railway equipment and maintenance updates, particularly in the context of economic downturns [1] - The high-speed brake disc products from the subsidiary Hawei maintained growth in both revenue and profit during the reporting period, contributing significantly to the overall revenue and profit of the rail transit equipment business [1] Group 2: Future Development Strategy - The company plans to adhere to a "technology innovation + mergers and acquisitions" strategy, enhancing technological innovation and accelerating the pace of acquisitions [1] - In terms of technological innovation, the company aims to optimize production processes and accelerate product iterations, with a focus on increasing the market share of ceramic abrasive products and improving competitiveness in the coated abrasive industry [2] - The company is also developing a three-tier R&D system in collaboration with group resources to foster new growth engines and create a second growth curve [2] Group 3: Mergers and Acquisitions Focus - The company seeks acquisition targets that are highly synergistic with its existing main business, focusing on the industrial chain, product chain, and ecological chain [2] - Additionally, the company aims to explore breakthroughs in emerging industries in line with national industrial planning to gradually upgrade its business operations [2] Group 4: Disclosure Information - This investor relations activity did not involve any undisclosed significant information [2]