Financial Performance - In Q1 2025, the company achieved operating revenue of 10.02 billion yuan, a year-on-year increase of 187% [1] - The gross margin reached 14.9%, up 1.5 percentage points quarter-on-quarter, marking a historical high [1] - The improvement in gross margin is attributed to strategic partnerships, product mix optimization, and increased sales volume [1] - The net profit attributable to shareholders was a loss of 130 million yuan, reducing losses by 820 million yuan year-on-year [1] New Product Launches - The company launched three new models in 2025: B10, C10, and C16, all performing well with ongoing new car cycles [1][2] - The B10 was launched on April 10, 2025, priced between 99,800 and 129,800 yuan, featuring high cost-performance with advanced technology [1] - The new C10, launched on May 15, 2025, includes multiple upgrades and a price reduction of 6,000 yuan compared to the previous model, with pre-sale orders exceeding 15,500 within 24 hours [2] - The new C16, set to launch on June 18, 2025, retains the six-seat version and adds a five-seat version, also featuring significant upgrades and a price reduction [2] Sales Performance and Market Position - The company has ranked first in new force sales for three consecutive months, with wholesale volumes of 37,000, 41,000, and 45,000 units from March to May 2025 [3] - Cumulative export volume exceeded 17,200 units from January to May 2025, maintaining the top position in cumulative export sales among new forces [3] - The company has rapidly expanded its channel network, with over 1,500 global outlets, indicating a strong growth trajectory in both domestic and international markets [3] Profit Forecast - The company maintains its profit forecast, expecting net profits attributable to shareholders of 110 million, 2.57 billion, and 5.07 billion yuan for 2025-2027 [3]