Group 1 - The company plans to invest up to 48.16 million USD in the second phase of its green energy lithium battery factory in Thailand, with a total planned capacity of 17.4 GWh, pending regulatory approvals [1] - The joint venture with Li Auto aims to deepen business cooperation, as Li Auto is an important customer for the company's power battery business [2] - The company submitted its A1 prospectus to the Hong Kong Stock Exchange on July 30, 2025, and is awaiting further feedback while needing to meet various regulatory conditions for the IPO [3] Group 2 - The company launched a new polymer solid-state battery product named "Xin·Bixiao," achieving an energy density of 400 Wh/kg and a cycle life of 1,200 weeks under ultra-low pressure [4] - The proportion of silicon-carbon anode batteries in the company's shipments is continuously increasing, with expectations for silicon content to exceed 10% next year [5] - Expected growth in the power battery business next year includes increased market share from existing customers and mass production from new clients such as Volvo and Volkswagen [6]

Group 1: Company Performance - In Q3 2025, the company achieved a revenue of 16.549 billion CNY, a year-on-year increase of 15.24% [2] - For the first three quarters of 2025, total revenue reached 43.534 billion CNY, up 13.73% year-on-year [2] - The net profit attributable to shareholders in Q3 2025 was 550 million CNY, reflecting a 41.51% year-on-year growth [2] - The net profit after deducting non-recurring gains and losses was 431 million CNY, a 22.46% increase year-on-year [2] - R&D investment for the first three quarters of 2025 amounted to 3.202 billion CNY, up 41.20% year-on-year [2] Group 2: Project Developments - The investment for the second phase of the Thailand project is planned at no more than 481.5568 million USD, with a total planned capacity of 17.4 GWh [2] - The investment is subject to approval from relevant regulatory authorities in China and Thailand [2] - The joint venture with Li Auto aims to deepen business cooperation, as Li Auto is a significant customer for the company's battery business [3] Group 3: Market and Product Updates - The company submitted its A1 prospectus to the Hong Kong Stock Exchange on July 30, 2025, and is awaiting further feedback from regulatory bodies [3] - The newly launched polymer solid-state battery "Xin·Bixiao" has an energy density of 400 Wh/kg and a cycle life of 1,200 weeks under low pressure [3] - The proportion of silicon-carbon anode batteries in shipments is continuously increasing, with a silicon content expected to exceed 10% next year [3] - Anticipated growth in the battery business next year includes increased market share from existing customers and new mass production from clients like Volvo and Volkswagen [3]