Core Insights - The collaboration between Tianqi Hongyuan and Shell has successfully developed a new generation of fully immersed integrated energy storage systems, marking a significant advancement in large-capacity immersion storage technology [1][2] Group 1: Technology and Innovation - Tianqi Hongyuan's new energy storage system has a single box capacity of 5 megawatt-hours, indicating a shift towards large-scale commercial applications [1] - The company achieved three major technological breakthroughs in system integration: enhanced cycle life by over 30% through multi-level balancing management and intelligent temperature control algorithms, energy efficiency exceeding 95% with proprietary fluid pipeline design, and comprehensive safety protection with an intelligent early warning and multi-layer protection system [1][2] - The temperature consistency management keeps the temperature difference between cells within 2°C, significantly improving the system's cycle life [2] Group 2: Safety and Performance - The integrated technology combines Shell's high-performance immersion liquid with Tianqi Hongyuan's proprietary safety management system, leading to a leap in energy storage safety technology [1] - The intelligent management system can initiate isolation protection within milliseconds upon detecting anomalies in the cells, creating a dual protection mechanism of "active protection + passive safety" [1] - Operational data confirms that the system maintains high energy density while significantly enhancing safety performance and reducing operational costs by 40% compared to traditional solutions [2] Group 3: Future Plans - Tianqi Hongyuan is planning to develop a series of products with varying capacities to meet diverse market demands based on the current technology platform [1] - The company aims to accelerate the product series layout to cater to different application scenarios, including generation side, grid side, and user side [2]

Group 1: Company Overview and Strategy - The company focuses on the integration of hardware and software platforms, combining products with application scenarios to extend its industrial development [3][4] - The 3+1 strategic layout emphasizes building an ecosystem in strong areas first, ensuring stable growth before expanding into more challenging sectors [3][4] - The company has no current plans for mergers and acquisitions but will comply with disclosure obligations if such plans arise [4] Group 2: Product Development and Technology - The company is developing material handling and cleaning robots, with sensor technology applicable in industrial robotics [3] - In the field of immersion energy storage, the company is enhancing safety and efficiency through innovative thermal control and energy conversion technologies [3][4] - The company’s core technologies include a focus on algorithm research based on market demand and application scenarios [4] Group 3: Market Position and Financial Performance - The company aims to improve gross margins through product structure optimization, sales policy adjustments, and increasing the proportion of high-margin products [4] - The company has a robust order backlog and is gradually implementing its strategic layout for future development [5] - The company believes that long-term market valuation will reflect its true value, emphasizing continuous technological investment and product iteration [5]