On April 20th, GANYUAN FOODS stated in a conference call with institutional investors that the change in gross margin for the e-commerce model in 2024 was mainly due to the significant promotional efforts for Spring Festival gift boxes during the New Year Festival promotion in the first quarter of 2024, resulting in a lower gross margin. In the first quarter of 2025, the company adjusted its sales strategy, and by the end of the first quarter, the gross margin for the e-commerce model had increased year-on-year. Additionally, the sales expense ratio in the first quarter of 2025 increased, primarily due to the company's launch of a Southeast Asia export strategy, which involved upfront investments in market researchers, product designers, sales personnel, and other labor costs. At the same time, to further enhance brand momentum, the company increased spending on celebrity endorsements in the first quarter. Investments related to overseas markets and branding will benefit the company in expanding sales scale and increasing brand influence in the future