Core Viewpoint - The company has entered into an agreement to sell its charging station assets for approximately RMB 185 million, while retaining operational rights and generating stable income through a joint operation agreement with the buyer [1][2]. Group 1: Sale Agreement Details - The seller, Jiurong New Energy Technology Co., Ltd., a wholly-owned subsidiary of Jiurong Holdings, has agreed to sell charging stations to Hangzhou West Lake New Energy Technology Co., Ltd. for about RMB 185 million [1]. - The preliminary valuation of the charging stations was approximately RMB 186 million as of June 30, 2025, according to an independent third-party valuation [1]. - After the sale, the company will no longer hold any rights or obligations related to the charging station assets [1]. Group 2: Joint Operation Agreement - Following the sale, the company will continue to provide operational and management services for the charging stations under a joint operation agreement for three years, in exchange for service fees [1]. - The joint operation agreement allows the company to transfer some fixed operational costs to the buyer, including financial costs, depreciation, and administrative fees [2]. - If the joint operation agreement is terminated or expires, the company will not be required to pay monthly investment return income or asset fees [2]. Group 3: Financial Implications - The sale is viewed as an opportunity for the company to lock in the value of the charging stations and to monetize its investment, which will help repay part of the external debts maturing in the next 12 to 18 months [2].