Group 1: Customer Position and Market Strategy - The company has established stable partnerships with leading domestic automakers such as GAC, NIO, Great Wall, Xiaomi, Xpeng, and others, positioning itself as a core supplier in their supply chains [1] - The company has not received specific annual reduction requests from clients for the upcoming year but is preparing for potential reductions by optimizing production processes and enhancing bargaining power [1][2] Group 2: Overseas Business Development - In 2024, the company began bulk supply of overseas projects, achieving approximately 6.8% revenue from exports in the first year [3] - By the first half of 2025, the revenue share from overseas projects exceeded 17%, marking a significant step in international expansion [3] - The company faces competition from global suppliers like Bosch, Valeo, and Continental but believes its domestic market experience and rapid response capabilities provide a competitive edge [4] Group 3: Production Capacity and Efficiency - The core production bases are the Anji Plant 1 and Plant 2, with Plant 1 having a designed capacity of 1.2 million units and currently operating at full capacity [5] - Plant 2 was successfully launched earlier this year, with ongoing efforts to enhance production capacity through technological upgrades and process optimization [5] - The company emphasizes asset efficiency to avoid resource idleness while integrating smart logistics and warehousing into its long-term development plans [5] Group 4: Future Outlook and Innovations - The company is optimistic about the growth of its overseas market share, expecting a steady increase based on current project developments [6] - Progress has been made in the overseas V2G (Vehicle-to-Grid) business, with products under development that support bidirectional charging, which is seen as crucial for stabilizing and optimizing overseas power grids [7]