A：To improve dealership management, Ideal Automotive implemented a series of results-oriented changes. First of all, the division of labor was optimized, personnel were concentrated and store replacement was carried out to solve the problem of poor location, and the sales force was transferred to the first-line business circle and automobile center store, thus improving the store efficiency and per capita output. In addition, in order to stimulate the enthusiasm of front-line sales staff, the store partner program was launched in March this year, giving excellent store managers the right to make business decisions and share profits, so that they can change from the traditional sales management role to the real store operators.

A：The ideal L9 series will be equipped with 800V and 5C overcharging technology, as well as a new generation of full-stack self-developed extended range 3.0 system to ensure power generation efficiency and power reserve. It will provide quietness and driving experience comparable to pure electric vehicles, as well as optimized winter energy consumption. In addition, L9 will also AI the world's first intelligent oil maintenance system, with a long maintenance cycle of three years or 30000 kilometers. In terms of configuration, the L9 Lewis version will be equipped with the world's first mass-produced full-wire chassis and 800-volt full-active suspension system to achieve top-level comfort and handling, and improve the speed and speed of steering, braking and suspension response. Safety.

A：Ideal Motors plans to launch a new pure electric flagship SUV Ideal I9 in the second half of 2026 to enrich its pure electric product matrix and meet the needs of different users. At the same time, the company promises to continue to increase R & D investment in the future, especially in the field of AI, to strengthen the technology moat and promote the transformation from smart electric vehicles to full-body intelligent enterprises, so as to ensure the competitive advantage in the next stage.

A：Ideal Car attaches great importance to the development and application of AI technology, and is committed to improving the vitality and efficiency of products. The company has been fully restructured to achieve the operating model of a true airframe intelligence company, and has established corresponding organizational capabilities and trained professionals in terms of chips, basic models, software ontologies and hardware modules. AI not only give life to products, but also help improve the efficiency of information flow within the company, making the decision-making process more agile and efficient.

A：The company's focus on AI has two main dimensions: creating AI and applying AI. This involves bringing products to life with AI and improving efficiency across the organization.AI is expected to make the company's products proactive and increasingly lifelike, learning and improving through frequent experiences in daily life. AI is also intended to reverse slowdowns in information flow and decision-making that can come with scale by integrating AI and work alongside agents, thereby regaining the speed and agility of a startup in iteration and evolution.

A：The company's approach to AI in product development involves rebuilding its R&D organization to operate like an embodied AI company, developing capabilities in interface chips, foundation models, software, and hardware. The products are envisioned as intelligent agents with real vitality, built on the company's next-generation technology platform.

A：The company's strategy is to convert the AI capabilities and systems developed since 2022 into real user experiences and measurable business value, which will serve as the cornerstone of its long-term competitive positioning for the next decade.

A：In the fourth quarter, total revenues were RMB 28.8 billion, down 35% year over year but up 5.2% quarter over quarter. Vehicle sales contributed RMB 27.3 billion, with a decrease mainly due to lower vehicle deliveries. Gross profit was RMB 5.1 billion, down 42.8% year over year but up 14.8% quarter over quarter. Vehicle margin was 16.8% overseas, down from 19.7% in the same period last year and 15.5% in the prior quarter. Operating expenses were RMB 5.6 billion, down 5.8% year over year and 1.3% quarter over quarter.

A：The company expects to deliver between 85,000 and 90,000 vehicles in the first quarter of 2026 and generate total revenues between RMB 254 billion and RMB 216 billion. This outlook is based on the company's current and preliminary views and is subject to change.

A：The company is working with key suppliers to ensure dedicated allocation and priority support for production and new model launches. They adhere to clear pricing terms where present and share cost pressures with suppliers without such agreements. Long-term support from supply chain partners is appreciated.

A：The company is identifying cost-saving opportunities across the entire value chain, including R&D, manufacturing, logistics, and quality control. They are maximizing economies of scale through platform-based development and using internally developed and contract-manufactured components to better manage costs.

A：For their 2026 models, the company is adopting a rational and steady approach to new vehicle pricing, reflecting considerations of raw materials volatility, R&D investment, and user value. The goal is to restore healthy gross margins for new products. By combining supply chain collaboration, long-term cost lock-in agreements, platformization, proprietary technologies, and rational pricing, the company aims to contain the impact of raw material price increases and maintain stable gross margins and operational quality.

A：The company acknowledges share buybacks as a method to enhance shareholder value and has dual primary listing status in the U.S. and Hong Kong. However, no additional information on share repurchase plans was provided.

A：It is expected that R&D expenses for the current year will remain around RMB twelve billion, with AI-related initiatives accounting for half of the cost. This includes investments in AI infrastructure like in-house development and computing power, as well as R&D for AI products such as autonomous driving systems. The company views the automotive and AI sectors as interconnected and invests in R&D to build AI capabilities for the entire business model, which is monetized through the current business model.

A：The I8 has experienced an increase in NPS and strong order momentum, with a significant rise in March orders compared to January. The I6 has completed the most challenging capacity ramp-up phase and entered a stable delivery phase. The I6 product's strength has been validated, and supply chain瓶颈s have been resolved. The I6's monthly交付能力预计达到2万台水平，并将高效交付在手订单。关于电池安全和成本方面，理想汽车始终坚持开放合作战略，掌握主动权，确保电池性能、质量、安全达到统一的理想标准。与核心供应商协同提升了产能，并推出购置税补贴和延期交付关怀政策。I6的成功证明了理想品牌的势能延伸到了纯电市场。

A：The Mark 100 will be delivered with the Air and New series, and mass production has already started. Mark 100 provides significantly higher effective compute with the same silicon area, enabling more design space for VRA algorithms. The chip supports advanced features like running models with six times the parameters and ten times the compute of the previous generation while maintaining higher frame rates and faster influence. The system-level integration is expected to significantly accelerate the improvement of autonomous driving capabilities over time. End-to-end latency is reduced to around 200-230 milliseconds, directly improving the driving experience. Beyond autonomous driving, the higher local compute allows the delivery of more intelligent capabilities. The chip brings cost advantages, including lower cost per chip, removal of the Xu controller, and improved runtime efficiency. The company believes that developing their own chips in 2022 will lead to strong performance and efficiency advantages by 2025.

A：We will analyze from two levels: First, we will invest 100% in the vertical integration of the entire body intelligence technology, because body intelligence has commonalities in system-level technology, including end-side reasoning chips, different models, operating systems, and Data and training systems, etc., this is the key area that we will fully invest in, and it is also the most important foundation of military intelligence. Secondly, in terms of business and product landing, we will adopt the model of start-up companies to start projects, such as AI glasses and robot projects, to avoid large companies to spriot, and choose to incubate products in the way of entrepreneurial teams.

A：In January this year, we made a major organizational adjustment, and the research and development team changed from the original definition of hardware functions to the management mode of creators, digital people and collectors. We put the chip, data set, operating system and other teams into a large system for unified management, and connect the perception, pre-training, post-training intensive training and basic infrared teams for overall management. In addition, the software ontology team is responsible for building system-level agents, including software tool development, MCP call protocols, memory systems, and skills construction, and is tightly integrated with the operating system to complete task execution rather than just dialogue and provide text or picture results. At the same time, great changes have taken place in the hardware, which is integrated into a complete hardware local system specifically for physical intelligence, including energy, drive and control systems. Instead of being managed by each individual controller, all actuators are directly controlled through MCP model, realizing efficient team collaboration to create digital people and physical intelligence products. These changes have greatly improved efficiency, such as the efficiency of scaffolding model training from two-week iterations to one-day iterations.

A：In the past 5 to 10 years, some excellent R & D managers have gained rich experience in start-up companies and recognition in the investment market due to their experience in ideal cars. This not only congratulates them on becoming popular entrepreneurs in the market, but also means that the company provides valuable opportunities for young technical managers and business managers internally. Many post-90s and post-00s have already played the number one role, building a solid talent base and strong driving force for the company in the future. Especially in the technical research team, the post-95s have already started production, and a large number of post-00s have become the core backbone of solving complex technical solutions, showing their determination to be confident in the next ten years.