(Wanrun New Energy): The annual net profit for 2025 is a loss of 446 million yuan.

Wanrun New Energy released its performance update, achieving a total operating revenue of 11.496 billion yuan in 2025, a year-on-year increase of 52.81%; a net loss of 446 million yuan, compared to a loss of 870 million yuan in the same period last year. The company's performance improvement is mainly due to the strong demand in the new energy vehicle and energy storage market. The sales volume of the company's main product, lithium iron phosphate, has significantly increased, with sales prices gradually rising, leading to an increase in gross profit margin. At the same time, the company has strengthened its management, promoted cost reduction and efficiency improvement, optimized resource allocation, and divested non-profitable businesses, gradually narrowing the company's loss margin.