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]