Performance breakthroughs in solid-state batteries are highly dependent on innovation and optimization across the material system. The Company is committed to becoming a full-stack materials solution provider for solid-state batteries and is prioritizing high-energy-density roadmaps. We have established a comprehensive footprint spanning key SSB materials—single-walled carbon nanotubes (SWCNTs), high-nickel ternary precursors, lithium-rich manganese-based (LRM) precursors, silicon-carbon anodes, sulfide/oxide electrolytes, and lithium-metal anodes—and rigorously follow a "commercialize one generation, develop one generation, and reserve one generation" R&D philosophy. This ensures stable supply for current markets while securing a first-mover position in SSB technology iterations, serving power batteries, consumer electronics, and energy storage across multiple scenarios.

[Single-Walled Carbon Nanotubes]

The Company's proprietary SWCNT powder delivers superior performance, with key metrics—purity, BET specific surface area, and Raman G/D ratio—matching comparable products from top global players and surpassing them on selected indicators, fully meeting the stringent purity requirements of high-end applications. The Company has established stable large-scale production capacity of 50 tonnes/year of SWCNTs. Leveraging in-house SWCNT powder together with proprietary oil-based and water-based dispersants, we have developed oil-based and water-based SWCNT slurries that further enhance the conductivity and processability of conductive additives, addressing high-end Li-ion battery customers' demand. We maintain close engagement with leading cell makers and are actively collaborating with solid-state battery, LMFP, silicon-anode, and conductive plastics customers to expand the application footprint of our conductive additives.

[Silicon-Carbon Anodes]

The core of the Company's novel vapor-deposited silicon-carbon anode is a proprietary porous carbon substrate. Distinctive substrates—such as activation-free porous carbon and narrowly distributed spherical porous carbon—endow the resulting Si-C anode products with high first-cycle efficiency, low swelling, and long cycle life. Specifically, half-cell ICE at 0.8 V cutoff exceeds 87%; the narrow particle size distribution (PSD) spherical Si-C anode combines low swelling with excellent kinetic performance and long cycle life even at an average particle size of 4–5 μm. This innovation gives the Company's Si-C anode products a clear competitive edge at the industry's leading level. The Company has established scalable Si-C anode production capacity, secured stable customer cooperation, and achieved volume shipments. Meanwhile, we are advancing sample validation and qualification with downstream Li-ion customers across consumer electronics, power batteries, and digital applications to further broaden market coverage.

[Solid-State Electrolytes]

The Company is focused on solid-state electrolyte development and commercialization along the two mainstream routes—oxide and sulfide. Products deliver excellent ionic conductivity: oxide electrolytes exceed 1 mS/cm? and sulfide electrolytes exceed 10 mS/cm, with the high conductivity reducing cell internal resistance and improving charge/discharge efficiency to meet high-performance SSB requirements. Supported by the commissioned SSB electrolyte pilot line, the Company is actively conducting technical alignment and product validation with multiple leading customers, has initiated low-volume supply to select customers, and is progressing through customer-side testing and certification.