Recently, we have received good news from the overseas market: with the continuous upgrading of production technology and the support of global green industrial policies, our Fancy Plywood products have achieved remarkable results in overseas sales, with a year-on-year growth of 45% in the first quarter of 2026, and have won wide recognition from customers in Europe, North America, Southeast Asia and other regions. This achievement not only reflects the strong competitiveness of our products, but also marks our further deepening in the global high-end decorative material market.
The outstanding performance in overseas markets is inseparable from our continuous investment in technological innovation. In the past year, we have increased R&D investment in line with the industry's R&D intensity standards, focusing on optimizing the production process of Fancy Plywood, and introducing intelligent production equipment to improve product precision and stability. For example, our waterproof teak Fancy Plywood has been upgraded with WBP phenolic waterproof glue and anti-UV surface treatment technology, which can withstand extreme weather conditions such as high humidity, strong sunlight and coastal salt spray, and its service life is twice that of ordinary outdoor plywood, becoming the preferred material for overseas outdoor decking, garden furniture and coastal home decoration projects.
At the same time, the strong support of global green industrial policies has provided a strong impetus for our products to enter the overseas market. According to the latest industry data, governments around the world are increasing their support for green and environmentally friendly building materials. In China, eligible Fancy Plywood manufacturers can enjoy preferential policies such as enterprise income tax exemption and reduction and Value added tax is levied and refunded immediately, while European and American countries have also introduced a series of environmental protection standards to encourage the use of low-formaldehyde and non-toxic decorative materials. Our Fancy Plywood products, with their excellent environmental performance and high-quality craftsmanship, fully meet the policy requirements of various countries, and have obtained market access advantages in cross-border competition.
It is understood that our Fancy Plywood products have been widely used in various overseas high-end projects, including luxury hotel decoration in Europe, custom furniture production in North America, and high-end commercial space design in Southeast Asia. A senior buyer from a well-known North American furniture brand said: "The Fancy Plywood products not only have a beautiful appearance and stable performance, but also provide flexible customization services, which can perfectly meet our design needs for high-end furniture, and the environmental protection performance also fully complies with North American market standards, which is very trustworthy."
Looking forward to the future, we will continue to adhere to the path of technological innovation and green development, closely follow the needs of the global market and industry trends, further optimize product structure, improve service quality, and strengthen cooperation with overseas partners. We will also actively respond to the call of the industry's new quality productivity construction, promote the upgrading of the Fancy Plywood industry, and strive to become a leading brand in the global high-end decorative material market.
