Core Viewpoint - The company has established partnerships with international automotive firms such as Mercedes-Benz, TOGG, and Mahindra Group, and has successfully commercialized its semi-solid-state batteries for leading eVTOL customers in the U.S. [1] Group 1: International Collaboration and Market Position - The company is recognized for its high level of internationalization within the industry, being among the leaders in this aspect [1] - According to the China Automotive Power Battery Industry Innovation Alliance, the company's export sales of power batteries for the year 2024 are projected to rank third nationally [1] Group 2: Production Capacity and Expansion - The company's joint venture, Siro, has established a 6GWh production line in Turkey, which has completed its ramp-up phase [1] - This production capacity is aimed at supporting and expanding the company's business in Europe, the Middle East, and Africa [1] - The company plans to further enhance the overseas market development of its SPS products [1]

Core Viewpoint - Company is advancing its battery technology with plans for mass production of second-generation semi-solid batteries with an energy density of 330Wh/kg and third-generation batteries reaching 400Wh/kg, while also exploring solid-state battery technologies with energy densities of 400-500Wh/kg [2] Group 1: Battery Technology Development - Company is developing multiple battery technologies including semi-solid, solid-state, lithium iron phosphate, high-voltage fast charging, and sodium-ion batteries [2] - The company’s products can support high-voltage fast charging, with SPS products achieving a full-system 6C fast charge [2] Group 2: Production Capacity and Profitability - Company has designed production capacities of 15GWh each for its Ganzhou and Guangzhou bases, with some production lines already operational and the rest expected to ramp up in the second half of the year [2] - The company anticipates a significant reduction in unit manufacturing costs as production capacity utilization increases in the second half of the year, leading to improved profitability [2] - Starting next year, as the utilization rate of new production bases increases, the company expects to see enhanced cost reduction effects and a significant improvement in gross margin [2] Group 3: Pricing and Cost Structure - The price of lithium carbonate has stabilized, and the company expects limited room for price reductions in downstream batteries [3] - The company anticipates a slight decrease in the overall average selling price of its products due to a shift in product mix towards lithium iron phosphate [3] - The company is implementing various cost reduction measures across manufacturing, management, and supply chain, which are expected to maintain a high gross margin [3] Group 4: Impact of Tariffs - Company indicated that the impact of U.S. tariffs on its exports and overseas market demand is minimal, with U.S. export revenue accounting for only about 5%-7% in the first quarter of 2024 and 2025 [3]

Core Viewpoint - Company Fudi Technology is expanding its market focus from power batteries to emerging fields such as low-altitude economy and humanoid robots, achieving significant progress in technology development and commercialization [1][2]. Group 1: Battery Technology Development - Fudi Technology is advancing in semi-solid and solid-state battery technologies, with the first generation of semi-solid batteries successfully launched in 2022 and the second generation expected to achieve a specific energy density exceeding 330Wh/kg and a cycle life of over 4000 cycles by 2025 [1][2]. - The company has developed semi-solid batteries tailored for low-altitude economic applications, successfully delivering products to leading low-altitude aircraft customers in the U.S. in 2023, becoming the first global company to deliver eVTOL products to end customers [1]. Group 2: Strategic Partnerships and Market Position - Fudi Technology has received a development notification from Xiaopeng Huitian, becoming a supplier of high-voltage power batteries and connectors for the next-generation prototype, further solidifying its position in the low-altitude economy sector [2]. - The company is collaborating with leading domestic humanoid robot manufacturers to customize solid-state battery solutions, with expectations to deliver samples by 2025 [2]. Group 3: Production Capacity and Innovations - Fudi Technology is establishing SPS products capable of producing various battery materials and forms, with new production capacity concentrated in Ganzhou and Guangzhou, where the first phase of 15GWh capacity in Ganzhou has been launched [3]. - The company has introduced a super-fast charging battery system that can achieve fast charging rates of 5C for ternary batteries and 6C for lithium iron phosphate batteries, ensuring safety through innovative design [3].