Financial Performance - The company reported a 2024 international business revenue of 62.1 billion RMB, a 53% year-on-year increase, accounting for over 30% of total revenue [6] - As of May 9, 2025, the major shareholder, Zhejiang Transportation Group, has increased its stake by 143,700 shares, representing 0.02% of the total share capital, bringing its total holding to 44% [2] Business Strategy - The establishment of new subsidiaries in 2024 aims to expand new business areas, optimize industry structure, and enhance overall competitiveness [3] - The company is focusing on a "4+X" global industrial layout, promoting domestic and international regional collaboration, and enhancing innovation-driven development [3] Industry Positioning - The company maintains stable operational volumes in the black and non-ferrous metal sectors despite industry downturns, attributed to proactive customer and market expansion efforts [2] - The energy and chemical business has seen rapid growth due to the introduction of new teams, optimization of product categories, and deepening service for key clients [8] Green and Low-Carbon Initiatives - The green low-carbon sector is a key business area, with a focus on the photovoltaic and lithium battery industries, aiming for a comprehensive supply chain integration [6] - Future plans include extending upstream to acquire resources related to nickel, cobalt, lithium, silicon, and copper, while exploring diverse applications in the renewable energy sector [6] Corporate Governance and Shareholder Engagement - The company has implemented a profit distribution plan for 2024, leading in the province for management participation in directed issuance and incentive plans [5] - Continuous high cash dividend ratios and transparent information disclosure are part of the company's response to the regulatory guidelines on market value management [5]