1Battery swapping service revenue increased year-over-year, driven by growth in the subscriber base and sustained high customer retention, reflecting the durability of the recurring revenue model.
2Gross margin showed improvement due to favorable pricing and product mix, completion of battery upgrade programs, and cost reductions from organizational restructuring.
3Operating cash flow benefited from disciplined cost management and improved working capital performance, despite a net loss for the period.
4The company continues to face liquidity pressures, necessitating reliance on committed equity financing from directors to support future operations and debt obligations.
5Impairment charges decreased significantly following strategic exits from non-core markets, indicating better alignment of asset utilization with current operational focus.
6R&D investment was streamlined as platform maturity allowed for more targeted development in core battery-swapping technology and second-life energy applications.