The business was impacted heavily by multiple external factors such as tariff uncertainties in the United States, anti-dumping regulations in both the U.S. and Europe, continued intensified price competition, particularly from Chinese suppliers in Europe and other regions and a broader slowdown in demand across key markets.

These dynamics collectively impacted growth momentum and created a highly competitive and volatile operating environment.

Despite these headwinds, CFS demonstrated strong resilience and customer commitment. We maintained consistent supply and service levels across key regions, particularly in Europe and the U.S. We ensured stable and competitive pricing, supporting long-term customer relationships. We strengthened our partnership with customers by understanding and adapting to their challenges, especially those arising from regulatory and tariff-related pressures. Importantly, the business continued to expand its customer base in Europe and the U.S., reinforcing its position as a reliable and quality driven supplier even in a constrained market environment.