Financial Performance - The company reported a total revenue of 4.353 billion yuan, a year-on-year decrease of 37.58% [1] - The net profit attributable to shareholders was -162 million yuan, an increase of 14.92% year-on-year [1] - In Q2, the total revenue was 2.028 billion yuan, down 49.92% year-on-year, and the net profit was -9.4731 million yuan, a decline of 135.17% year-on-year [1] - The gross margin was 12.99%, an increase of 21.12% year-on-year, while the net margin was -3.72%, a decrease of 36.3% year-on-year [1] - Total expenses (selling, administrative, and financial) amounted to 390 million yuan, accounting for 8.95% of revenue, an increase of 10.69% year-on-year [1] - Earnings per share were -0.13 yuan, an increase of 18.75% year-on-year [1] Investment Returns - The company's historical median ROIC since its IPO is -1.83%, with the worst year being 2023 at -10.68% [2] - The company has reported losses in 6 out of 10 years since its IPO, indicating poor investment returns [2] Cash Flow and Debt - The company's cash assets are considered healthy, but the cash flow situation requires attention, with a cash/short-term debt ratio of only 59.58% [2] - The average net cash flow from operating activities over the past three years has been negative [2] Strategic Focus - The company aims to position itself as a leader in the solid-state battery sector, viewing it as a critical opportunity to reshape the industry [3]