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On January 27th, Jiangsu Province successfully completed its V2G (vehicle-to-grid) centralized discharge test, achieving a maximum discharge power exceeding 10,306 kilowatts. The six V2G-enabled 4.0 battery swapping stations in Nanjing, upgraded in cooperation with NIO, played a crucial role in this evening peak-hour supply guarantee test, achieving a maximum discharge power of 1,539.85 kilowatts, accounting for 15% of the provinces total maximum discharge power, making them one of the core components of this V2G interaction test. It is understood that three V2G stations each in Wuxi and Suzhou, jointly deployed by GCL Energy and NIO, are also about to be connected to the grid, expanding the number of stations in the core urban cluster of the Yangtze River Delta to 12, further increasing the scale of V2G interaction discharge. In the future, both parties will continue to expand the coverage and scope of their cooperation in V2G interaction.On January 27th, TRS announced that it expects a net loss attributable to shareholders of the listed company of RMB 250 million to RMB 310 million in 2025, compared to a loss of RMB 94.1456 million in the same period last year. The change in performance is mainly due to the slower-than-expected recovery of the industry in which its subsidiary, Tianxing Network Security, operates, resulting in a proposed impairment provision of RMB 140 million to RMB 160 million for goodwill. This is compounded by the postponement of downstream customer projects, the delay in new procurement, the contraction of traditional business during the artificial intelligence transformation period, and the rigid investment in period expenses.On January 27th, Jinpan Technology announced its plan to issue H shares overseas and list on the Main Board of the Hong Kong Stock Exchange. The companys board of directors has authorized management to initiate preliminary preparations for the H-share listing, with the authorization period lasting 12 months from the date of board approval. The company plans to discuss the specific details of the H-share listing with relevant intermediaries. Details regarding the H-share listing have not yet been finalized.Volkswagen CEO: (On the EU-India trade agreement) We are optimistic about Indias potential in Volkswagens business and will closely review this agreement.Driven by the surge in silver prices, U.S.-listed silver mining stocks rose in pre-market trading. Heckler & Co. (HL.N) rose 3.1%, Cordell Minerals (CDE.N) rose 2.2%, Silvercorp Metals (SVM.A) rose 2.3%, and Endeavour Silver (EXK.N) rose 2.8%.

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