2025-12-19 09:44Group 1: SOFC Business Development - The company is continuously deepening its SOFC (Solid Oxide Fuel Cell) business through technological innovations and market deployment, aiming to drive the development of this strategic emerging industry [2] - In November 2025, the company signed a technology licensing agreement with Xilius, enabling full mastery of core technologies related to batteries, stacks, systems, and power stations [2] - The company has launched a new generation of high-power metal-supported commercial products, significantly improving power generation efficiency, power density, start-up speed, and operational reliability, establishing a foundation for large-scale commercialization [2] Group 2: Heavy Truck Industry Trends - According to the China Association of Automobile Manufacturers, from January to November this year, the cumulative sales of heavy trucks in China reached 1.042 million units, a year-on-year increase of 27.5% [3] - Heavy truck exports totaled 308,000 units, reflecting a year-on-year growth of 15.1%, indicating a diversified energy structure in the domestic heavy truck market [3] - The company is optimistic about the future of the heavy truck industry and is laying out multiple technological routes to adapt to short- and medium-term industry trends [3] Group 3: Large Bore Engine and Data Center Business Progress - In the first three quarters of this year, the sales of the M series large bore engines exceeded 7,700 units, representing a growth of over 30% [3] - Sales in the data center market surpassed 900 units, showing a year-on-year increase of over 300%, contributing significantly to the company's performance [3] - The rapid iteration of AI technology is driving the expansion of the data center backup power market, leading to a surge in demand for high-end engines in this segment [3]