Core Viewpoint - The company achieved significant revenue growth in Q2, but profit margins were impacted by a decline in gross margin, with expectations for improved profitability in Q3 [1][3]. Group 1: Financial Performance - In the first half of the year, the company's operating revenue reached 7.459 billion yuan, a year-on-year increase of 21.0%, while net profit attributable to shareholders was 422 million yuan, up 2.8% year-on-year [1]. - Q2 operating revenue was 3.940 billion yuan, reflecting a year-on-year growth of 26.4% and a quarter-on-quarter increase of 12.0% [1]. - Q2 gross margin was 16.8%, down 2.0 and 2.7 percentage points year-on-year and quarter-on-quarter, respectively, primarily due to industry-wide price declines concentrated in Q2 [1]. Group 2: Growth Opportunities - The company has established strong relationships with major clients, including Geely, Chery, Li Auto, Xiaomi, Great Wall, NIO, BYD, and international electric vehicle brands, with several key models set to launch in the second half of the year [2]. - The launch of the Model Y L on August 19 generated 50,000 orders within three days, indicating strong demand, while the Li Auto i8 began deliveries on August 20 [2]. - The company's exterior parts and seating business are entering a growth phase, with significant revenue increases expected, enhancing the per-vehicle value and deepening client relationships [2]. Group 3: International Expansion - The company's international strategy is yielding results, with overseas revenue accounting for nearly 20% of total revenue, and significant growth in revenue from the Mexico and Slovakia factories [3]. - The Mexico factory generated 9.62 billion yuan in revenue, a year-on-year increase of 195.5%, while the Slovakia factory contributed 3.15 billion yuan [3]. - The company is expanding its presence in Europe, with a recent investment of 45 million euros in Slovakia and the establishment of subsidiaries in Germany, which is expected to further enhance profitability [3].

Core Viewpoint - The company has received project confirmation letters from a well-known domestic automotive manufacturer, referred to as Client J, for two projects involving the supply of liquid cooling fluid pipeline systems, indicating recognition of the company's technical capabilities and market competitiveness [1] Group 1 - The projects are expected to have a lifecycle of 6 years, with a total contract value of approximately 500 million yuan [1] - The expected mass production date for the products is November 2025 [1] - This new project confirmation is likely to enhance the company's growth in fluid pipeline business and improve its sustained profitability [1]