Group 1: Business Focus and Development - The company will continue to focus on two core business areas: lithium-ion battery materials and thermal management products, aiming to optimize its industry layout and enhance competitiveness [2][4] - The company has been included in the list of enterprises meeting the standards for the comprehensive utilization of waste power batteries in the new energy vehicle sector [3] - The lithium-ion battery recycling business serves as a source of raw materials for the company's lithium-ion battery materials business, sourcing from both domestic and international waste battery recycling companies [3] Group 2: Investor Relations and Market Communication - The company emphasizes the importance of market communication and investor relations management to enhance value creation and shareholder returns [3] - The company has committed to improving the quality and transparency of information disclosure to strengthen interactions with market participants [3] - The company will disclose any significant events affecting its operations in accordance with relevant regulations [3] Group 3: Production and Market Performance - The company is currently operating normally, adjusting production based on market orders, with specific operational data to be disclosed in future reports [4] - The first phase of the lithium battery key material production base has completed construction and is in trial production [3][4] - The company is monitoring market trends closely to adapt its project development accordingly [4] Group 4: Future Strategy and Industry Outlook - The company aims to build an industrial ecosystem around lithium-ion battery materials and thermal management, enhancing its competitive edge [4] - The company acknowledges that stock price fluctuations are influenced by macroeconomic conditions, market trends, and industry policies [4] - The company is focused on creating better returns for investors by solidifying its core business and internal value [4]

Financial Performance - Company reported a total revenue of 474 million yuan for the first half of 2025, an increase of 18.47% year-on-year [1] - Net profit attributable to shareholders reached 11.31 million yuan, up 163.01% compared to the previous year [1] - Gross profit margin decreased to 15.01%, down 9.59% year-on-year, while net profit margin improved to 1.63%, an increase of 117.79% [1] - Total operating expenses (selling, administrative, and financial expenses) amounted to 69.12 million yuan, accounting for 14.57% of revenue, a decrease of 23.81% year-on-year [1] Cash Flow and Debt Management - Operating cash flow per share increased to 0.19 yuan, a significant rise of 179.86% year-on-year [1] - The company’s cash and cash equivalents decreased by 34.79% to 102 million yuan due to repayment of financing loans [1] - Interest-bearing liabilities decreased by 20.22% to 768 million yuan [1] Accounts Receivable and Financial Health - Accounts receivable accounted for 40.23% of total revenue, indicating a significant amount of outstanding payments [1] - The company’s net asset value per share fell to 1.27 yuan, down 40% year-on-year [1] - The company has faced challenges with a historical average return on invested capital (ROIC) of 4.72%, with the worst year being 2024 at -20.38% [11] Business Operations and Future Outlook - The company focuses on two core business areas: lithium-ion battery materials and electronic product cooling solutions [14] - Plans to optimize production processes in the lithium-ion battery materials sector and enhance competitiveness in the cooling products market [14] - The company aims to expand its overseas market presence, particularly in the cooling products segment, to increase market share and brand competitiveness [17]