Core Viewpoint - The company announced that its top five customers accounted for over 70% of total revenue in the first three quarters of 2025, indicating strong partnerships and a focused customer base [1] Group 1: Customer Base - The top five customers include Mahindra, Volkswagen, Geely, Xiaopeng, and Great Wall, with collaborations progressing steadily [1] - The company’s revenue from new energy customers is balanced with traditional fuel vehicle revenue, each accounting for approximately 50% of total revenue in the new energy sector [1] Group 2: Business Development - The company’s products are versatile, suitable for both new energy vehicles and traditional fuel vehicles, aligning with industry trends [1] - The new energy business encompasses both pure electric brands like Xiaopeng and hybrid models from established brands like Volkswagen and Geely, reflecting a comprehensive approach to market demands [1]