Core Viewpoint - The company is actively responding to the challenges in the home furnishing market through various strategies, including channel deepening, product upgrades, and innovation, while leveraging its brand strength in the high-end customization sector and integrating smart home solutions [1][2]. Company Strategies - The company has established a comprehensive multi-channel operation system, including a mature dealer network and partnerships with leading state-owned and private real estate enterprises [2]. - The "Five Good and Two Easy" service model has been introduced to enhance the quality and efficiency of integrated decoration services, focusing on good branding, products, pricing, empowerment, and delivery [2][4]. - The company aims to optimize its customer structure by focusing on partnerships with central and state-owned enterprises, thereby reducing cooperation risks and enhancing project quality [2][4]. Financial Performance - The net cash flow from operating activities has decreased year-on-year due to a decline in main business orders as the home retail market is still recovering [2]. - The company is committed to strengthening cash flow management and controlling financial risks while improving operational efficiency through digital transformation and refined management [2]. Corporate Announcements - The company plans to reappoint Guangdong Sinong Accounting Firm as the auditor for the 2025 fiscal year, ensuring the firm's qualifications and independence [3][4]. - Due to the conversion of convertible bonds, the company's registered capital has increased to 311,345,062 yuan, and it plans to abolish the supervisory board, transferring its responsibilities to the audit committee of the board [3][4].