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- **Revenue Guidance Maintained**: Despite macro challenges, reaffirmed full-year targets with cost control driving OpEx reduction.
- **CO2 Momentum**: PX G validation in 2025 testing; 2026-2027 commercialization path with OEMs like Hillphoenix.
- **Lithium Expansion**: Secured $350k Argentina project, signaling wastewater growth potential.
- **Data Center & Desalination**: Long-term optimism, but no near-term impact from U.S. infrastructure efforts.

**【CEO Opening Remarks】**
- Reaffirmed full-year revenue guidance, citing strong mega-project shipments and wastewater revenue recovery.
- Reduced full-year OpEx guidance due to cost control measures, with modest expense increases expected for 2026 growth.
- CO2 business progress: successful summer testing validating energy savings (up to 15%), water conservation, and capacity during high heat loads.

**【Q&A Highlights】**
**CO2 Business & OEM Progress**
- White paper results confirmed PX G's value proposition, including 15% energy savings and water conservation in adiabatic regions.
- OEM engagement with Hillphoenix progressing; expects 2026 testing with large retailers (e.g., Walmart) and commercialization in 2027.

**Desalination & Data Centers**
- Long-term positive trends for desalination, but cautious on near-term infrastructure timelines.
- Data center opportunities (wastewater treatment, CO2 refrigeration) under evaluation; no near-term opportunities identified.

**Cost Management & Growth**
- Reduced OpEx through tariffs mitigation and manufacturing investments, despite wastewater business growth.
- Secured $350k lithium extraction project in Argentina, part of expanding wastewater portfolio.
- Hiring focused on experienced wastewater professionals with OEM/end-user relationships.

**CO2 Testing Strategy**
- 2026 skid installations planned for existing CO2 locations to validate performance at scale.

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