The earnings call discusses Q3 2025 results, including forward-looking statements with risks and uncertainties. Non-GAAP measures are addressed, and a Q&A session is planned. The call is webcast and recorded, with materials available on the IR website.

In Q3, the company achieved a 49.1% year-over-year sales volume increase to 465,000 units, primarily driven by China's 74% growth to 451,000 units, supported by new national standards and strong brand demand. Revenue surged 65% to RMB 1.69 billion, with gross margin expanding to 21.8%, thanks to a favorable product mix. Net profit reached RMB 81.69 million, reflecting operational efficiencies. Overseas sales declined due to micro-mobility sector weakness, but the company remains confident in its long-term strategy, anchored by China's dominance and enhanced competitiveness.

In response to China's new electric bicycle standards, manufacturers are upgrading high-end models, launching compliant designs, and expanding into electric motorcycles. Key actions include redesigning product lines, enhancing technology, and targeting underserved markets, resulting in successful launches and increased market presence.

In Q3, the brand focused on elevating its image through targeted lifestyle campaigns, achieving 130 million impressions. Offline, 238 new stores were added, with nearly half in lower-tier cities. Online, over 70% of sales came from digital channels, supported by 1052 dealer accounts and 30,000+ live streams. The FX Wind Storm launch was particularly successful, with 14,000 units sold in five hours and 93% positive ratings, resonating strongly with Gen Z and delivery riders.

The dialogue covers Q3 financials, with a focus on electric motorcycle sales growth, market strategies for China and international markets, and a detailed product roadmap for electric mobility and micro mobility. It highlights the company's approach to managing market uncertainties, optimizing operations, and accelerating growth through strategic adjustments and new product launches.

The third quarter financial review revealed a 49% increase in sales volume, reaching 465,600 units, with 90% of revenue from China. China's sales volume surged by 74%, driving the ASP up by 7% year-over-year. Gross margin improved significantly to 21.8%, up 8 PPT from the previous year, attributed to cost reduction initiatives and economies of scale. Overseas revenues declined due to reduced sales volume and ASP. The company expects fourth-quarter revenue to range between RMB 737 million and 910 million, reflecting a year-over-year change of -10% to +10%.

The operator explains the process for asking and withdrawing questions during a conference call, concluding with the facilitator expressing gratitude for participation and anticipation of future updates. The call ends with an invitation for participants to disconnect.