Group 1: Investor Relations Activity - The investor relations activity was an earnings briefing held on May 14, 2025, via an online platform [3] - Participants included the company's chairman and general manager, as well as the board secretary and financial officer [3] Group 2: Key Business Opportunities - The company sees growth opportunities in the automotive aftermarket, particularly in vehicle recycling and battery recovery [5] - The revised regulations in 2023 for vehicle recycling are expected to unlock over 100 billion CNY in circular economy value, with an estimated 15 million vehicles expected to be scrapped by 2025 [5] - The company's revenue from vehicle recycling and dismantling reached 77.57 million CNY in 2024, a year-on-year increase of 194.41% [5] Group 3: Battery Recovery Insights - With over 60 million new energy vehicles in circulation, the retired battery volume is projected to exceed 350,000 tons in 2024, making battery recovery a significant market [5] - The recovery rate for metals like lithium, cobalt, and nickel has surpassed 90%, with recycled lithium expected to account for 20% of the supply by 2024 [5] Group 4: Financial Performance and Future Plans - The company anticipates that the battery recovery project will become a key growth area, although it has not yet generated revenue or profit [6][7] - The first quarter of 2025 saw revenue from vehicle recycling reach 35 million CNY, supported by new government policies aimed at enhancing the recycling economy [7] Group 5: Shareholder Engagement - The company announced a dividend distribution on April 25, 2025, to be implemented within two months after the annual shareholder meeting on May 15, 2024 [8] - There are currently no plans for acquisitions, but the company is monitoring potential strategic opportunities in the market [8] Group 6: Market Outlook - The company expresses confidence in its long-term value despite short-term stock price fluctuations influenced by market sentiment [9] - Future efforts will focus on enhancing the vehicle dismantling and battery recovery projects to generate quality profit streams [9]