Financial Data and Key Metrics Changes - Revenue increased by 16.4% in Q2 2023 compared to Q2 2022, indicating a positive growth trend [5] - Gross margin improved to 15.3% in Q2 2023 from 7.5% in Q2 2022, with adjusted gross margin rising to 17.3% from 10.4%, reflecting a 6.9 percentage point improvement [6] - The company targets adjusted gross margins in the 20% range for the next year, aiming for profitability within the next two to three years [6] Business Line Data and Key Metrics Changes - The 53.5 amp hour cell for commercial vehicles and energy storage systems (ESS) projects accounts for over 80% of the total backlog of $675.9 million, demonstrating strong demand [7] Market Data and Key Metrics Changes - The company is experiencing rapid and accelerating adoption of its products, particularly the 53.5 amp hour cell, which is a significant contributor to the backlog [7] Company Strategy and Development Direction - The company is focusing on industrialization, automation, utilization, and relentless innovation to achieve continued margin improvements [7] - The expansion of manufacturing capacity through Phase 3.1 and Phase 1a is expected to provide additional growth opportunities [5][6] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth, citing encouraging trends and the potential for further tailwinds from manufacturing capacity expansions [5][6] - The company is confident in its path to profitability, supported by improved gross margins and a strong backlog [6] Other Important Information - The meeting included a formal agenda with proposals for the election of directors and the ratification of the independent accounting firm, both of which received sufficient votes for approval [12][13] Q&A Session Summary Question: Were there any questions submitted during the meeting? - No questions were submitted during the meeting, leading to a conclusion of the session [15]