Warmly ushering in the last month of 2025: December greetings to our global partners.

As the morning sunlight streamed through the office windows and the calendar turned to December 1st, we realized that this was not only the beginning of winter, but also a bridge connecting the year's efforts with the hopes for the coming year.

Global supply chain data shows that China's Manufacturing Purchasing Managers' Index (PMI) for November 2025 was 49.2%, up 0.2 percentage points from the previous month, indicating a continued improvement in manufacturing activity. Most sub-indices rose month-on-month, demonstrating economic resilience.

In the transportation sector, the latest report from the China Hydrogen Energy Alliance shows that China's annual green hydrogen production capacity has exceeded 220,000 tons, accounting for more than 50% of global capacity. As of November 2025, 540 hydrogen refueling stations have been built nationwide, accounting for 40% of the global total.

01 Seasons Change, Partnership Endures

As the Northern Hemisphere welcomes its first snow of winter and the Southern Hemisphere basks in summer sunshine, we know that wherever you are in the world, you are making a final push for year-end business. Standing at the beginning of December, we extend our sincerest greetings to you—our esteemed global partners—with gratitude.

Against the backdrop of a gradual recovery in global economic activity, recently released data shows positive signs. According to data released on November 30 by the National Bureau of Statistics and the China Federation of Logistics and Purchasing, China's Manufacturing Purchasing Managers' Index (PMI) for November 2025 was 49.2%, up 0.2 percentage points from October.

This continued improvement in the indicator conveys a positive signal: manufacturing production activity remains stable, market demand has recovered somewhat, and endogenous economic momentum is accumulating.

02 Industry Trends, Promising Future

In this month that connects the past and the future, new standards and regulations are laying a more solid foundation for industry development. The new national standard for electric bicycles will officially come into effect on December 1, 2025.

Products must comply with the new "Electric Bicycle Safety Technical Specifications" and pass CCC certification before they can be sold. To date, the State Administration for Market Regulation has issued 595 CCC certificates compliant with the new national standard to 117 major domestic manufacturers, marking a new stage in industry upgrading.

In the field of green energy, data from the China Hydrogen Energy Alliance shows that China ranks among the world's leaders in green hydrogen production capacity and hydrogen refueling station construction, providing a solid foundation for deep decarbonization in the transportation and industrial sectors. These advancements not only represent technological innovation but also our shared commitment to a sustainable future.

03 Cutting-Edge Exploration, Expanding Possibilities

Technological innovation has never ceased, and humanity's spirit of exploration shines equally brightly in the polar ice caps and the vast expanse of space. The icebreaker "Xuelong 2," carrying out China's 42nd Antarctic expedition, has arrived in the waters surrounding Zhongshan Station and is conducting icebreaking operations.

Simultaneously, after completing resupply, the "Xuelong" is sailing at full speed towards Zhongshan Station, expected to arrive at its designated location on December 1st. The two ships will collaborate on scientific research and logistical support missions.

In the aerospace field, regarding the crack found in the porthole of the Shenzhou-20 return capsule, relevant analysis indicates that the "culprit" space debris was less than 1 millimeter in size, and its impact created a unique triangular crack. This provides valuable data for the spacecraft's space protection design.

04 Working Together for a Warm Year-End

In the final month of 2025, we hope to convey warmth and strength to you across geographical distances through this blessing. Over the past year, whether you faced supply chain challenges or market fluctuations, we have witnessed your resilience and wisdom.

Our team is always committed to providing you with better products and services, ensuring that every collaboration contributes to your business success.

With the year-end holiday season approaching, we understand that many markets will experience a brief period of operational adjustment. Our logistics and customer service teams are fully prepared to ensure that your orders and inquiries are responded to and processed promptly.

05 Looking Ahead to the New Year, Creating a Brilliant Future

As the December calendar pages turn, we not only reflect on past achievements but also look forward to future collaborations. The door to 2026 is about to open, bringing new opportunities and possibilities.

We are committed to continuing to optimize supply chain management, improve product quality control, and strengthen innovative research and development to better meet your ever-changing market demands.

In this special month, whether you are in a bustling city or a quiet town, may you feel the warmth and joy of the holidays.We sincerely wish you and your team a successful year-end, a relaxing and enjoyable holiday season, and that you will greet the new year with renewed energy.