An investor inquired on the interactive platform: Recently, several automakers have announced vehicle validation of solid-state batteries, and Chery has even showcased mass-produced solid-state batteries. Meanwhile, the company's private placement has yet to be implemented, its solid-state battery has not been rolled out in the third quarter, and sales have continued to decline. In contrast, automakers such as Geely and Chery have seen sales rise against the trend, with continuous growth in overseas volume and ongoing technological iteration. How will Changan respond? Changan Automobile replied that the company has always prioritized shareholder interests. Solid-state batteries represent a fundamental transformation of the power battery material system. Progressing from laboratory samples to automotive-grade mass production requires multiple stages, including material validation, cell process development, vehicle integration, and safety and durability validation—making the R&D cycle objectively lengthy. The company is steadily advancing its R&D efforts and has conducted validation of 20Ah oxygen-polymer composite solid-state batteries, achieving an energy density exceeding 350Wh/kg. R&D progress will be disclosed through periodic reports and announcements.