During the recent performance briefing, CATL announced that since the conclusion of the battery swapping ecosystem conference late last year, the company has achieved substantial advancements in establishing its battery swapping network. This year, CATL plans to construct 1,000 new battery swapping stations. Recently, the company signed a cooperation framework agreement with Sinopec Group, aiming to collaboratively develop a nationwide battery swapping network. Additionally, CATL has forged a strategic partnership with NIO to create a world-leading battery swapping service network tailored for passenger vehicles. Simultaneously, the company has established a joint venture with Didi to jointly explore and expand the battery swapping market. It is anticipated that an increased number of Original Equipment Manufacturers (OEMs) will introduce battery swapping vehicle models within this year.