Gross Margin Improvement
Gross margin improved significantly to 45.2% for the first half of 2025, up 13.5 percentage points from 31.7% in the same period of 2024, reflecting effective refined operations and cost control initiatives.
Expansion in Retail Outlets and Dealer Network
Products are now carried in 1,050 retail outlets, and the dealer network has grown, with the dealer to retail sales mix improving from 129 to 228 by end of June 2025.
Innovation and Partnerships in Emerging Segments
Deep collaboration with Deep Robotics to develop intelligent equipment and successful securing of a first order with CATL for battery swapping station equipment, supporting a plan for 10,000 stations.
Strong Financial Position
As of June 30, 2025, the company held $257 million in cash, cash equivalents, restricted cash, and certificates of deposit, indicating strong liquidity.