Group 1: Financial Performance - In the first half of 2025, the company achieved a revenue of 7.16 billion CNY, representing a year-on-year growth of 16.52% [4] - The passenger vehicle segment saw a revenue increase of 20.48%, with new energy vehicles growing by 26.8% [4] - The commercial vehicle and non-road segment's revenue grew by 3.89%, with new energy commercial vehicles increasing by 66% [4] - The digital and energy business revenue surged by 58.94% [4] - Export revenue accounted for approximately 25.94% of total revenue, showing a gradual increase [4] Group 2: Profitability and Margins - The gross margin for the first half of 2025 was 19.25%, slightly down by 0.72% year-on-year due to domestic passenger vehicle margin decline [4] - The net profit for the second quarter was 228 million CNY, with the non-recurring net profit reaching a historical high of 216 million CNY [4] - North America revenue reached 788 million CNY, with a net profit of over 34 million CNY, nearing the total profit for the entire year of 2024 [4] - The European segment turned profitable, with expectations of achieving overall profitability for the year [4] Group 3: Cost Management - Selling expenses increased slightly due to overseas customer expansion costs, while management expenses showed a continuous decline [4] - Financial expenses significantly decreased, primarily due to exchange gains from the appreciation of the CNY against the Euro [4] Group 4: Future Outlook - The company maintains its annual revenue target at 15 billion CNY, with expectations for net profit to improve in the second half of the year [4] - The growth is supported by stable growth in the automotive sector, the ramp-up of digital energy liquid cooling business, and future robotics business expansion [4] Group 5: Product Development - The liquid cooling division has established a product system focused on data centers, energy storage, charging and swapping, and low-altitude aircraft [5] - The humanoid robotics division has developed a product system that includes key modules and components, with significant progress in market expansion and product development [5]