Group 1: Production Capacity - The company's production capacity as of the end of Q1 2025 includes: 26,500 metric tons of cobalt products, 10,000 metric tons of nickel products, 10,000 metric tons of manganese products, 5,000 metric tons of lithium carbonate, and 60,000 metric tons of copper products [2][3]. Group 2: Price Adjustments - Following the export ban on cobalt from the Democratic Republic of Congo (DRC), the prices of cobalt products have increased, as reflected in the quotations from Shanghai Metal Market and London Metal Bulletin [3]. Group 3: Management Expenses - Management expenses increased by 38% year-on-year, primarily due to growth in business scale, increased employee compensation, administrative expenses, and the recognition of stock incentive plan costs [3]. Group 4: Market Value Management - The company has implemented several measures for market value management, including enhancing core business operations, engaging in share buybacks, and maintaining a consistent dividend policy with cumulative dividends exceeding 1.2 billion yuan [3][4]. Group 5: Solid-State Battery Development - The company is positioned in the upper reaches of the new energy industry chain, supplying high-quality products for solid-state battery materials, including cobalt sulfate, nickel sulfate, and lithium carbonate [4]. Group 6: Mining Exploration - The company is actively exploring joint development and exploration opportunities with other quality mining rights holders to secure stable resource supply [5]. Group 7: Production Challenges - The company's net profit for Q1 2025 declined due to power shortages affecting copper production capacity, with ongoing efforts to enhance power supply through project construction and diesel generator projects [5]. Group 8: Regulatory Compliance - The company’s operations in the DRC remain normal despite reports of mining rights issues, and it is closely monitoring the situation regarding the cobalt export ban [5]. Group 9: Inventory Management - The company maintains a safety stock of raw materials and is prepared to adapt its production pace based on market conditions and regulatory developments [5].