Time waits for no one, and seasons pass by swiftly. At this wonderful moment of bidding farewell to the old and welcoming the new, and as the year changes its sequence, on behalf of the company's shareholders' meeting, board of directors, and management committee, I would like to extend my most sincere gratitude and warmest festive greetings to every employee who has worked hard and silently contributed to the company's development, as well as to your families. At the same time, I would like to express my highest respect to all friends from all walks of life who have long supported and cared about the company's development, and to all our partners who have joined hands with us and given us strong support. May you all enjoy good health, a happy family, and thriving careers in the new year! The river of time surges forward, and the pace of the strivers never stops. The just-passed year 2024 holds extraordinary significance for Dongyu Hongxiang. We grandly celebrated the 20th anniversary of the company's establishment. This is not only a milestone moment but also a heartfelt tribute to the company's unremitting struggles through the storms and hardships of the past two decades. The people of Dongyu Hongxiang have firmly grasped the giant brush of time, forged ahead through the trials and tribulations, nurtured new opportunities amidst challenges, and painted a magnificent chapter in the company's development. In this year, we faced difficulties head-on and forged ahead with determination. Facing the complex situation of the sluggish recovery of the world economy and continuous international trade frictions, as well as the domestic market environment with insufficient effective demand and intensified involutionary competition, we have responded to the uncertainties with resilience and created new possibilities with initiative, and have withstood the tests. The company adhered to the policy of "driving sales to increase revenue and reduce costs", gave full play to the leading role of sales, explored domestic and foreign markets through more diversified channels, actively integrated into the dual-circulation pattern, focused on customer needs, and achieved stable growth in sales performance and market share. We have continuously enriched and improved the product matrix of four major categories: decorative paper, decorative panels, decorative components, and whole-house customization. We have made greater efforts to reduce costs and increase efficiency and carry out lean production, enhanced internal driving forces, and taken faster steps in innovation and excellence to promote product quality improvement and upgrading. The company's profit reached a new high, and its profitability reached a new level. Each business unit, in accordance with the business plan at the beginning of the year, went all out and achieved excellent business results. In particular, the Shuyang War Zone, Hongshuo War Zone, and the Countertop Project Department successfully completed their expected goals, playing a positive role in driving growth and submitting a relatively remarkable answer sheet for the company's development. In this year, we were driven by innovation and presented numerous highlights. With its strong innovation capabilities and scientific enterprise management, the company successfully passed the re-evaluation and recognition as a high-tech enterprise and a provincial-level enterprise technology center, and was successfully selected as a "Morning Star Factory" in the digital economy of Shandong Province and an innovative small and medium-sized enterprise in the province. Two projects of the company, namely "Research and Development of the Key Technology of Antibacterial and Formaldehyde-Free Environmentally Friendly Impregnated Paper" and "Research and Development of Water-based Ink for Gravure Printing of PVC Edge Banding Strips and Its Synthesis Process", were included in the first batch of enterprise technology innovation project plans of the province. The national standard of "Requirements for the Accounting and Reporting of Greenhouse Gas Emissions of Furniture Manufacturing Enterprises" and the CECS group standard of "Mildew-proof and Antibacterial Wood Cabinet Boards for Home Use" in which the company participated in formulating were approved. The company was newly authorized with 6 invention patents and 3 utility model patents. In this year, we overcame difficulties and obstacles and strived with high spirit. The year 2024 was a crucial year for the comprehensive promotion of the company's digital transformation. With the joint efforts of the implementation consultants, the project team, and all departments, a major breakthrough was achieved in the second phase of the digital transformation. The SAP systems in Shuyang and Malaysia, as well as the PDM, Langsu MES, HR, CBS, and computerized accounting systems were successfully launched and put into operation. From customer relationship management, supply chain management, quality management to internal collaborative office work, the digital transformation has made the company's operations more transparent and efficient, and at the same time, it has also enhanced customer experience and satisfaction. In terms of intelligent transformation, an investment of more than 20 million yuan was made, and a new industrial 4.0 automatic production line for Kami whole-house customization was put into operation. The equipment for veneering, cabinet body, and countertop was upgraded and transformed. At the same time, advanced systems such as MES were integrated into the production and management processes, which greatly improved production efficiency, achieved a magnificent transformation from "manufacturing" to "intelligent manufacturing", and significantly enhanced the quality and competitiveness of products. The first phase of the improvement of supply chain management was successfully completed. With the help of external experts for diagnosis and advice, good results were achieved in aspects such as order delivery, inventory stagnation, and supplier management, solving the current pain points, improving the level of supply chain management, and laying a solid foundation for the long-term development of the enterprise. In this year, we gathered strength, advanced with determination, and took on responsibilities. Guided by the corporate culture, the company actively explored and carried forward the power of role models. Wang Maoliang, Liu Languang, Wan Dongli, Wang Kuichao, Wang Chunhua, Meng Deqiang, Zong Xianyuan, Wang Lijuan, and Han Lei were successively named as "The Most Beautiful People of Dongyu Hongxiang". In the year-end summary and evaluation, six departments were honored for their outstanding performance, namely the Best Sales Teams: Shuyang Business Department, Hongshuo Import and Export Department 1, and Hongshuo Import and Export Department 3; the Best Production Teams: Shuyang Impregnated Paper Mill, Countertop Project Department (Production), and Printing Paper Mill. In addition, 59 employees stood out for their excellent performance and were awarded the title of "Outstanding Star". Here, I would like to sincerely extend my warm congratulations to the outstanding teams and individuals who have been commended. I hope you will carry forward your achievements, guard against arrogance and rashness, and make greater contributions to the development of the enterprise. All that has passed is but a prelude. Looking back on 2024, it was no easy task to achieve these results. This is inseparable from the courageous and hardworking attitude of the vast number of cadres and employees, and their diligent efforts in achieving success. It is you who have built the company's glory today with your sweat and wisdom. You are the most precious wealth of the company and the solid foundation for its development. I am grateful to have you by our side all the way. Here, I would like to express my heartfelt thanks to all of you! It is precisely in the face of difficulties that courage and perseverance are more evident; only through the test of the waves can the true gold be found. In 2025, from the perspective of the external environment, the domestic and foreign macroeconomic situation is still not optimistic. We must always maintain a clear mind and keen insight, accurately grasp the pulse of the market, continuously adjust and optimize our development strategies, and welcome new challenges with more high-spirited fighting spirit and firm confidence. In 2025, we should adhere to the customer-centric concept and let those who hear the sound of gunfire command the battle. We will establish an "iron triangle" team consisting of business managers, product managers, and delivery managers to quickly respond to customer needs. The sales department should strive to increase revenue, actively explore international and domestic markets, strengthen the stability of the industrial chain and supply chain, and promote the integrated development of each business unit. In 2025, we should promote the strategy of "increasing revenue and reducing costs" in the long term, strictly do a good job in budget management, control expenses, improve labor efficiency, and enhance the overall profitability of the company. While fully focusing on the main line of development, we should firmly establish the bottom-line thinking, comprehensively strengthen the awareness of risks, and cherish the hard-won business achievements. In 2025, it is the final year of the digital transformation. As the last year of large-scale promotion, we should complete the full launch of all digital systems and deeply experience the convenience and efficiency brought by digitalization. In 2025, the company will officially launch the equity incentive plan to create a "community of shared future" between the enterprise and employees, ensuring that every key employee can enjoy the dividends brought by the company's vigorous development and achieve a win-win situation between the company's development and personal interests. Work happily and live joyfully. "Although the dream is distant, it can be achieved if pursued; although the wish is difficult, it can be fulfilled if persisted in." In 2025, let us join hands and move forward together, and with fuller enthusiasm and firmer belief, welcome new challenges and opportunities, and jointly write a more brilliant future for Dongyu Hongxiang! The Spring Festival is approaching. I wish all of you a happy work and a joyful life in the new year, and I wish Dongyu Hongxiang a brighter future! Thank you all!