Core Viewpoint - The company reported a significant increase in performance for Q1 2025, driven by improved sales structure, internal efficiency gains, and foreign exchange benefits [2][3]. Group 1: Financial Performance - Total revenue for Q1 2025 reached 72.495 billion, representing a year-on-year increase of 24.5% and a quarter-on-quarter stability [2]. - Gross margin improved by 0.2 percentage points year-on-year but decreased by 1.6 percentage points quarter-on-quarter to 15.8% [2]. - Net profit attributable to shareholders surged by 263.6% year-on-year and 58.5% quarter-on-quarter, amounting to 5.672 billion [2]. Group 2: Sales and Product Structure - Total sales volume increased by 47.9% year-on-year and 2.5% quarter-on-quarter to 704,000 units, with new energy vehicle sales rising by 135.4% year-on-year [3]. - The share of new energy vehicles in total sales increased by 17.9 percentage points year-on-year to 48.2% [3]. - Key models such as Galaxy, Zeekr, and Lynk & Co saw significant sales growth, with Galaxy sales up 214% year-on-year [3]. Group 3: Cost Management and Efficiency - The SG&A expense ratio decreased by 2.6 percentage points year-on-year to 7.0%, with sales and administrative expense ratios also declining [3]. - The company is optimizing resource allocation through the integration of Zeekr and Lynk & Co brands, aiming to enhance its mid-to-high-end market presence [3]. Group 4: Strategic Moves and Future Outlook - The company announced plans to acquire all issued shares of Zeekr, which will become a wholly-owned subsidiary, aiming for better resource integration and efficiency [4]. - The integration is expected to enhance overall group efficiency by over 5%, with improvements in R&D, management, and marketing efficiencies projected to reach 15%-20% [4]. - The launch of new models in Q2 2025 is anticipated to further boost sales and performance, with early indicators showing strong order volumes for new vehicles [3][4].