CATL said at the performance briefing that since the battery swap ecological conference was held at the end of last year, the company has made continuous progress in the construction of the battery swap network ecology, and plans to build 1,000 battery swap stations this year. Recently, the company signed a cooperation framework agreement with Sinopec Group, and the two parties will jointly build a battery swap ecological network covering the whole country; it also signed a strategic cooperation agreement with NIO to jointly build the world's largest and most technologically advanced passenger car battery swap service network. In addition, the company has established a joint venture with Didi to jointly expand the battery swap market. As for the OEMs, more battery swap models will be released this year.