NOVEL(002014)2025-05-16 08:38Group 1: Investor Relations Activity - The investor relations activity took place on May 15 and 16, 2025, involving companies such as CITIC Securities, Changjiang Securities, and others [2] - The format of the activity was an on-site investigation, hosted by the board secretary and a securities representative [2] Group 2: Order and Project Status - The company's printing orders at the Huangshan headquarters are better compared to the same period in 2024, but orders from subsidiaries in Guangzhou and Hebei are weaker [2] - The new functional film material expansion project has half of its capacity remaining, with an annual production target of 22,000 tons [2] - The bi-directional stretching multifunctional film project is expected to have equipment installed by Q4 of this year, with an annual production target of 30,000 tons [2] - The smart factory project for producing 40,000 tons of composite flexible packaging materials is also in progress [2] Group 3: Financial Performance Insights - The revenue growth in Q1 of this year slowed down due to the impact of the Spring Festival and price fluctuations [2] - Cost has a more direct impact on gross margin compared to product structure adjustments, which take longer to reflect in financial results [2]