Core Viewpoint - The company has developed a "Quality Improvement and Efficiency Enhancement" action plan for 2025, focusing on optimizing operations, governance, and enhancing shareholder value. Group 1: Business Focus and Quality Improvement - The company specializes in the R&D, production, and sales of high-speed rail fastening systems, aiming to provide safe and reliable engineering products for high-speed rail operations [1] - In 2025, the company will continue to ensure product supply for key railway projects, enhance quality control, and improve market promotion efforts [1] - The company plans to strengthen collaboration with various stakeholders to achieve breakthroughs in the railway construction market [1] Group 2: Industrial Layout Optimization - The company is committed to optimizing its industrial layout by integrating R&D and production capabilities, enhancing smart manufacturing, and improving group management [3] - The subsidiary, 铁科（天津）科技有限公司, has achieved stable mass production of certain products, with a projected annual output of 18 million high-speed rail components [3] - The company aims to enhance production efficiency and resource utilization through automation and information management [3] Group 3: Information Management Enhancement - The company will enhance its information management systems to improve data analysis and network security, facilitating better decision-making and resource utilization [4] - A focus on digital transformation will connect production processes with management, reducing labor and time costs while improving control capabilities [4] Group 4: Talent Development - The company has established a targeted recruitment strategy and a comprehensive training system to attract and develop talent [5] - In 2025, the company will enhance its internal training programs and optimize its talent development mechanisms to improve employee capabilities [5] Group 5: Technological Innovation - The company is focused on key technological breakthroughs in the rail transportation sector, leveraging digital and intelligent technologies for product upgrades [6] - The Beijing R&D center has developed various testing platforms to support the research and development of new rail technologies [6] - Continuous innovation efforts will be made to enhance the company's technological capabilities and market applications [7] Group 6: Corporate Governance - The company is committed to improving its governance structure and decision-making processes to protect shareholder rights [8] - In 2025, the company will enhance its information disclosure practices to ensure transparency and accuracy [9][10] - The company will implement ESG principles in its operations, focusing on sustainable development and social responsibility [11] Group 7: Investor Relations - The company aims to maintain stable dividends and ensure investor returns, with a commitment to distributing at least 15% of distributable profits in cash dividends [12] - In 2024, the company distributed cash dividends totaling approximately 73.73 million yuan, representing 34.40% of the net profit attributable to shareholders [12] - The company plans to enhance communication with investors through various channels to build trust and transparency [14] Group 8: Compliance and Risk Management - The company emphasizes the importance of compliance among key personnel and will provide training to enhance their awareness of regulatory requirements [15][16] - Continuous updates on legal and regulatory changes will be communicated to ensure adherence to governance standards [16]

Core Viewpoint - The company has developed a comprehensive action plan for 2025 aimed at enhancing quality and efficiency, focusing on core business operations, optimizing governance, and ensuring sustainable development while maintaining shareholder interests [1][10]. Group 1: Business Focus and Quality Improvement - The company specializes in the research, production, and sales of high-speed rail fastening systems, aiming to provide safe and reliable engineering products for high-speed rail operations [1]. - In 2025, the company will continue to focus on high-quality development, ensuring product supply for key railway projects and enhancing market promotion efforts [1][2]. - The company plans to actively participate in overseas high-speed rail projects, particularly in line with the "Belt and Road" initiative, to expand its international market presence [2]. Group 2: Industrial Layout Optimization - The company is committed to optimizing its industrial layout by integrating research and development with production capabilities, enhancing group management levels, and improving production efficiency [2][3]. - The company’s subsidiary, 铁科（天津）科技有限公司, has achieved stable mass production of key components, with a projected annual output of 18 million high-speed rail components [2]. Group 3: Technological Innovation and R&D - The company is focused on technological breakthroughs in the rail transportation sector, leveraging digital and intelligent technologies to enhance product performance and safety [6][7]. - The Beijing R&D center is equipped with advanced testing and evaluation systems to support the development of new technologies and materials for rail infrastructure [6][7]. Group 4: Governance and Compliance - The company is enhancing its governance structure by refining decision-making mechanisms and ensuring compliance with relevant laws and regulations [8][9]. - The company is committed to improving the quality of information disclosure, ensuring transparency and accuracy in reporting to maintain a positive image in the capital market [9]. Group 5: ESG Commitment - The company adheres to ESG principles, integrating environmental protection and social responsibility into its operations, and plans to release its first ESG report in 2024 [9][10]. Group 6: Investor Relations and Communication - The company emphasizes maintaining open communication with investors through various channels, including performance briefings and dedicated investor relations management [11][12]. - The company has established a profit distribution plan, committing to distribute at least 15% of its distributable profits in cash dividends, ensuring stable returns for shareholders [10][11].

Industry Overview - The advanced rail transit industry is experiencing significant growth, with a projected fixed asset investment of 850.6 billion yuan in 2024, representing an 11.3% year-on-year increase [1] - By 2025, the national railway aims to complete infrastructure investments of 590 billion yuan and add 2,600 kilometers of new lines, with total railway operating mileage expected to reach approximately 180,000 kilometers by 2030 [2] Company Developments - Times Electric is focusing on the development of power semiconductor devices, breaking the foreign monopoly in core components for rail transit and ultra-high voltage transmission [3] - The company is set to launch its third-phase silicon carbide (SiC) production line in Zhuzhou by the end of 2025, with a focus on automotive-grade SiC modules for electric vehicles [3][4] - Times Electric's SiC products are positioned for various applications, including electric vehicles, UPS, wind power generation, and smart grids, with expectations for significant growth in shipments by 2025 [4] Strategic Initiatives - Iron Science Rail aims to align with national railway construction demands, focusing on high-speed rail fasteners and expanding into new products and technologies for urban rail systems [5][6] - The company is committed to enhancing its profitability and market presence by promoting product marketing and advancing integrated research and development [5][6] - Sanwang Communication plans to deepen its focus on industrial railway signal control and intelligent scheduling, leveraging AI and IoT technologies to address customer needs and drive growth [6]