Core Viewpoint - Yongtai Energy has made substantial progress in the full industry chain layout of vanadium flow battery energy storage since its commitment to the energy storage sector [2] Resource Aspect - The company possesses a vanadium pentoxide resource amounting to 158.89 million tons, providing essential upstream support for its energy storage business [2] Technology Aspect - The company's Singapore-based subsidiary, Vnergy, has developed the world's first generation of solid-state capacity-enhancing materials, which have reduced the cost of positive electrolyte by 40% to 60% and expanded the operational temperature range to 5°C to 70°C, significantly improving environmental adaptability while being fully compatible with existing stacks [2] - The self-developed 32kW-level stack product has completed iteration, achieving a current density of 167 mA/cm² and maintaining an energy efficiency of over 80%, with core performance indicators reaching advanced domestic levels [2] - Continuous innovation in battery management systems and key component structures has led to a total of 42 patents, including 29 invention patents [2] Project Aspect - The first MW-level energy storage station, the Nanshan integrated solar-storage energy station, developed using the company's core technology, has been operational for over a year, successfully validating the reliability of the technology and the commercial model [2]

Core Viewpoint - Yongtai Energy is actively optimizing its all-vanadium flow battery energy storage project through technological innovation and iteration, with the first MW-level energy storage station already operational and performing well [2] Group 1: Project Development - The company is leveraging both domestic and international technical teams to enhance the construction of upstream and downstream production lines [2] - The first MW-level energy storage station, the Nanshan integrated solar-storage power station, has been successfully put into operation [2] Group 2: Market Engagement - Yongtai Energy plans to engage with the market proactively and prepare for the commercialization of related products [2] - The acceleration of the all-vanadium flow battery industrialization process is expected to yield good returns once the project is fully operational [2]