Group 1: Financial Performance - In the first half of 2025, the revenue from the power distribution system business segment decreased by 270 million, primarily due to the impact of order delivery confirmation timing [1] - The gross margin for the DC transmission system segment was 40.76%, influenced by the product business structure affecting revenue recognition [2] Group 2: Sales and Marketing Strategy - The sales expenses maintained a significant increase in the first half of the year, with ongoing efforts to strengthen the marketing system and increase frontline sales personnel while reducing back-office staff [1] - The company has enhanced its secondary marketing system since Q2 2024, aiming to improve market development and collaborative advantages [1] Group 3: Low Margin Business Impact - The low-margin total package business significantly affected performance, with the revenue from the new energy and system integration segment reaching 696 million, a year-on-year decline of 30.38% [2] - This segment accounted for 10.79% of the company's half-year revenue, a decrease of 3.83 percentage points year-on-year, indicating ongoing optimization of the product business structure [2]