Group 1: Company Overview - The company is Shanghai Shunhao New Materials Technology Co., Ltd. with stock code 002565 [1] - The investor relations activity took place on February 9, 2026, from 15:00 to 17:00 [2] Group 2: Key Business Activities - The company discussed its overall business situation, including its investment in Beijing Orbit Chenguang Technology Co., Ltd. [2] - The company holds a 19.30% stake in Beijing Orbit Chenguang, having invested 110 million RMB in June 2025 [3] Group 3: Project Updates - The first experimental satellite "Chenguang No. 1" has been developed but has not yet been launched due to various factors affecting the launch schedule [2] - The company is unable to disclose the valuation of Orbit Chenguang due to commercial confidentiality [3] Group 4: Technical Advantages - Orbit Chenguang has competitive advantages in satellite technology, including higher energy module photoelectric conversion efficiency and enhanced heat dissipation capabilities [3] Group 5: Future Plans - The company plans to increase its investment in Orbit Chenguang by approximately 74.98 million RMB, which will not change the scope of the consolidated financial statements [3] - There are no further arrangements regarding the appointments of Zhang Shancun and Zhang Zheyu within the company at this time [3]