Performance Summary - The company held its 2025 semi-annual performance briefing on September 2, 2025, via an online platform, where key executives engaged with investors [1][3] - The company reported a significant increase in revenue for the first half of 2025, driven by aggressive market expansion, with aluminum alloy sales up approximately 50.70% and component sales up about 12.31% year-on-year [2] Financial Performance - Despite revenue growth, the company's net profit decreased due to intensified competition in the automotive supply chain, ongoing price wars among car manufacturers, and increased costs related to an employee stock ownership plan [2] - The net cash flow from operating activities decreased, primarily due to a substantial increase in raw material purchases and a rise in accounts receivable [2] Future Business Focus - The company is focusing on expanding its business in robotics and magnesium alloys, having established the "Yongmaotai Robotics Technology Research Institute" and collaborated with various robotics companies and academic institutions [2] - The company has secured orders for multiple products in the robotics sector and is actively developing magnesium alloy components for well-known automotive and electronic manufacturers [2]

Core Insights - The Victory Oilfield Ground Engineering Maintenance Center has successfully recycled over 10,000 used parts and repaired 5,425 of them, achieving 107% of its annual recycling target, showcasing advancements in green development and circular economy [1] - In 2023, a remanufacturing demonstration base was established at the Ground Engineering Maintenance Center, which has developed a remanufacturing industry framework focusing on "recovery—remanufacturing—reuse" through collaboration with five development units [1] - The center aims to maximize asset efficiency by implementing a centralized recycling network across 14 development units in the eastern oilfield, establishing 54 standardized recycling stations and creating a catalog of remanufactured components [1] Remanufacturing Process and Quality Control - The Ground Engineering Maintenance Center has implemented strict quality control measures for remanufactured parts, utilizing a "two in, two out, two cards" management method to enhance quality throughout the remanufacturing process [2] - Cross-regional collaboration has been initiated, evaluating the remanufacturing capabilities of three pump repair service departments and successfully conducting eight collaborative projects, resulting in the remanufacturing of 211 various parts [2] - Future plans include optimizing remanufacturing work systems and enhancing capabilities to unlock the full lifecycle value of used components, contributing to the green circular economy of the oilfield [2]