Gogoro Inc (GGR) 2024 Q4 法說會逐字稿

Welcome to the Gogoro Inc 2024 fourth quarter and full year earnings call.

歡迎參加 Gogoro Inc 2024 年第四季和全年財報電話會議。

This conference call is now being recorded and broadcasted live over the internet.

本次電話會議目前正在錄音並透過網路進行現場直播。

Webcast replay will be available within an hour after the conference is finished.

會議結束後一小時內將提供網路直播重播。

I'd like to turn the call over to the Gogoro team.

我想將電話轉給 Gogoro 團隊。

Welcome to Gogoro 2024 Q4 and full year earnings conference call, hosted by our interim CEO, Henry Chiang; and CFO, Bruce Aitken.

歡迎參加 Gogoro 2024 年第四季和全年財報電話會議，由我們的臨時執行長 Henry Chiang 主持；和財務長布魯斯艾特肯 (Bruce Aitken)。

Hopefully by now you have seen our earnings release.

希望您現在已經看到了我們的收益報告。

If you haven't it is available on the investor relations tab of our website investor.gogoro.com.

如果您還沒有，您可以在我們網站 investor.gogoro.com 的投資者關係標籤上找到。

We are hosting our earnings conference call via live webcast through Gogoro's website.

我們將透過 Gogoro 網站以網路直播的方式舉辦收益電話會議。

Where you can also download all of the earnings released materials.

您也可以在那裡下載所有發布的收益資料。

We will also be displaying the materials on the webcast screen as we go.

我們還將在網路直播螢幕上即時顯示這些材料。

(Event Instructions).

（活動說明）。

Henry will provide a business update and outline our plans and vision for the future.

亨利將提供業務最新進展並概述我們未來的計劃和願景。

Bruce will then go into the Q4 and full year financial results in more detail.

布魯斯隨後將更詳細地介紹第四季和全年的財務表現。

And then we will open the line for Q&A and answer as many questions as time allows.

然後我們將開通問答熱線，並在時間允許的情況下回答盡可能多的問題。

As usual, we would like to remind everyone that today's discussions may contain forward-looking statements that are subject to risk and uncertainties, which could cause actual results to differ materially from those contained in the forward-looking statements.

像往常一樣，我們想提醒大家，今天的討論可能包含前瞻性陳述，這些陳述受風險和不確定性的影響，可能導致實際結果與前瞻性陳述中的結果有重大差異。

Please refer to the forward-looking statements that appear in a press release and investor presentation provided today.

請參閱今天提供的新聞稿和投資者介紹中出現的前瞻性陳述。

Now, I would like to turn the call over to Henry.

現在，我想將電話轉給亨利。

Thank you.

謝謝。

Success is forged in challenges.

成功是在挑戰中誕生的。

Gogoro is embracing our challenges.

Gogoro 正在迎接我們的挑戰。

The strongest companies don't just endure, they adapt, refocus and transform.

最強大的公司不僅能堅持下去，還能適應、重新聚焦和轉型。

At its core, Gogoro is an energy company.

從本質上來說，Gogoro 是一家能源公司。

We were founded to rethink urban energy and inspire the world to move more sustainably.

我們成立的目的是重新思考城市能源並激勵世界更永續發展。

Over the last 3 years, we have improved and extended our customer experience on the Gogoro network by investing nearly $100 million annually in infrastructure.

在過去 3 年裡，我們每年在基礎設施上投資近 1 億美元，改善並擴展了 Gogoro 網路上的客戶體驗。

Today, we operate the world's largest infrastructure of its kind.

今天，我們經營著世界上最大的同類基礎設施。

And serve nearly 640,000 monthly subscribers.

並為每月近64萬名訂閱者提供服務。

Our goal is clear, to achieve profitability and continued growth.

我們的目標很明確，實現獲利和持續成長。

In Q4, we took decisive actions to accelerate profitability, sharpening focus, realigning resources, streamlining operations, and reducing costs.

第四季度，我們採取果斷行動，加速獲利、集中精力、重新整合資源、精簡營運並降低成本。

These efforts are showing early signs of success.

這些努力已初顯成效。

Our energy business is on track to break even by 2026 and generate free cash flow in 2027.

我們的能源業務預計在 2026 年實現收支平衡，並在 2027 年產生自由現金流。

Additionally, we expect that our vehicle business will break even by 2028.

此外，我們預計我們的汽車業務將在 2028 年實現收支平衡。

We have three main business priorities our energy business, our vehicle business, including partner OEMs, and international expansion.

我們的三大業務重點是：能源業務、汽車業務（包括合作夥伴 OEM）和國際擴張。

First, we are focusing on our energy business.

首先，我們專注於能源業務。

We ended the fourth quarter with nearly 640,000 accumulated subscribers, up from 587,000 subscribers at the end of the same quarter last year.

截至第四季末，我們累計訂閱用戶數接近 64 萬名，高於去年同期的 58.7 萬。

In Q4 2024, for the first time, revenue from the Gogoro battery swapping business surpassed revenue from vehicle sales.

2024 年第四季度，Gogoro 電池更換業務收入首次超過汽車銷售收入。

This marks a fundamental milestone for the business, one we expect to continue.

這標誌著我們業務的根本里程碑，我們希望這一里程碑能持續下去。

Our batteries are built for agility and second life applications.

我們的電池專為靈活性和二次生命應用而打造。

First generation battery in service for 10 years still operate in a good state of health as anticipated.

第一代電池已服役10年，仍運作良好，符合預期。

And are now being repurposed for Second Life opportunities.

現在正被重新用於第二人生機會。

The demand for both customer facing and behind the media energy solutions is growing fast in Taiwan and globally.

台灣乃至全球對於面向客戶和媒體背後的能源解決方案的需求正在快速增長。

We see a rapidly evolving business with significant potential, and we are expanding our investments to capitalize on our large battery fleet.

我們看到了一個快速發展且具有巨大潛力的業務，我們正在擴大投資以充分利用我們龐大的電池陣容。

We have shifted R&D funding to where our energy and Second Life battery initiatives.

我們已將研發資金轉移到能源和第二人生電池計畫。

In 2025, we will increase energy R&D spending by approximately 26% versus 24%.

到2025年，我們的能源研發支出將增加約26%，而目前這一數字為24%。

Driving innovation is smarter, more resilient energy solutions for the future.

推動創新的是未來更有智慧、更具彈性的能源解決方案。

Some of these solutions are already in commercial use, while others are in pilot testing with high power.

其中一些解決方案已經投入商業使用，而其他一些解決方案正在進行高功率試點測試。

By the second half of 2025, we will have full certification for our energy storage and peak shaving products.

2025年下半年，我們的儲能和尖峰產品將獲得全面認證。

I am excited about the innovations we are bringing to the market.

我對我們向市場推出的創新感到非常興奮。

These new products and services will not only enhance our Battery Swapping business but also create new revenue streams.

這些新產品和服務不僅會增強我們的電池更換業務，還會創造新的收入來源。

Next, we are streamlining our Gogoro branded product lineup and expanded our power by Gogoro network program.

接下來，我們將精簡我們的 Gogoro 品牌產品陣容，並透過 Gogoro 網路計畫擴大我們的實力。

We are improving customer experience by delivering vehicles and services they need, whether on performance, quality, convenience or affordability.

我們透過提供客戶所需的車輛和服務來改善客戶體驗，無論是性能、品質、便利性還是可負擔性。

We are taking two important steps.

我們正在採取兩個重要步驟。

First, we will utilize common components to drive efficiency.

首先，我們將利用通用元件來提高效率。

Second, we are optimizing our supply chain and manufacturing partnerships to achieve economies of scale.

第二，我們正在優化我們的供應鏈和製造合作夥伴關係，以實現規模經濟。

We are excited for upcoming product launches in 2025 and 2026 and look forward to sharing more soon.

我們對 2025 年和 2026 年即將推出的產品感到興奮，並期待很快分享更多產品。

Finally, while Taiwan remains Gogoro primary revenue driver, we remain committed to international expansion and partnerships.

最後，雖然台灣仍然是 Gogoro 的主要收入來源，但我們仍致力於國際擴張和合作。

The global shift to electric two-wheeler is accelerating, and interest in Gogoro battery swapping ecosystem continues to grow.

全球向電動兩輪車的轉變正在加速，人們對 Gogoro 電池更換生態系統的興趣持續增長。

In 2024, we launched a service with partner in Colombia, Singapore, and Nepal with more expansions ahead.

2024 年，我們與哥倫比亞、新加坡和尼泊爾的合作夥伴推出了一項服務，未來也將進一步擴展。

Southeast Asia is still very much in our plans, but these markets take time to develop.

東南亞仍然在我們的計劃中，但這些市場需要時間來開發。

We are actively working with Castro to identify opportunities to accelerate adoption.

我們正在積極與 Castro 合作，尋找加速採用的機會。

Expect more concrete updates on this in the coming few weeks.

預計未來幾週內將有更多具體更新。

In addition to realigning our business strategy, much of what we focus on during this transition has been streamlining operations and reducing costs.

除了重新調整我們的業務策略之外，我們在此次轉型期間的重點工作是精簡營運和降低成本。

First, we increase the alignment of our engineering and product teams by establishing an integrated development center to enhance our cross-functional collaborations and implement value-added engineering.

首先，我們透過建立綜合開發中心來增強工程和產品團隊的協調，以加強跨職能協作並實施增值工程。

In this way, we will be developing products that better meet our customer needs at a reduced cost.

透過這種方式，我們將能夠以更低的成本開發出更能滿足客戶需求的產品。

Second, maintaining rigorous financial discipline.

二是嚴守財經紀律。

We conducted a top to bottom review of our fixed costs and removed unnecessary spending.

我們對固定成本進行了徹底的審查，並消除了不必要的開支。

We reviewed every hardware and energy product for its contribution margin, and we will streamline product offerings accordingly.

我們審查了每種硬體和能源產品的貢獻利潤率，並相應地簡化產品供應。

We restructured our organization and consolidate overall space to foster better team collaboration and reduce costs.

我們重組了組織並整合了整體空間，以促進更好的團隊合作並降低成本。

We are instilling discipline across all businesses, leaders, and teams with clear financial indicators and funding milestones.

我們正在透過明確的財務指標和資金里程碑向所有企業、領導和團隊灌輸紀律。

As a result, we have significantly reduced our fixed spending budget by more than 32% from $120 million in 2024 to $82 million in 2025.

因此，我們大幅削減了固定支出預算，從 2024 年的 1.2 億美元削減至 2025 年的 8,200 萬美元，降幅超過 32%。

These changes result in a leaner, more efficient operational model that positions us for sustainable long-term growth.

這些變化使我們的營運模式更加精簡、更有高效，為我們實現長期永續成長奠定了基礎。

While our focus is on the future, I want to take a moment to recognize some of our key achievements in 2024.

雖然我們的重點是未來，但我想花點時間來回顧我們在 2024 年取得的一些主要成就。

During 2024, we received prestigious global accolades from top tier media outlets and industry research firms.

2024年，我們獲得了頂級媒體和產業研究公司頒發的全球殊榮。

Fast Company recognized Gogoro as Asia Pacific's number one most innovative company of 2024 and 37th globally.

Fast Company 將 Gogoro 評為 2024 年亞太地區第一大最具創新力的公司，全球排名第 37 位。

Fortune highlighted Gogoro on its 2024 changed the world list.

《財星》雜誌將 Gogoro 列入了「2024 年改變世界的企業名單」。

MIT Technology Review recognized Goer as a TOP15 climate tech company to watch for the second year in a row.

《麻省理工技術評論》連續第二年將 Goer 評為最值得關注的 TOP15 氣候科技公司之一。

Also, we were honored by Frost and Sullivan as the 2024 Global battery swapping Company of the year.

此外，我們也被 Frost and Sullivan 評為 2024 年度全球電池更換公司。

We expanded our multi-year collaboration with TSMC to promote green and sustainable transportation.

我們擴大了與台積電的多年合作，以推動綠色和永續的交通。

In November, we held our seventh annual Taipei Bridge rider event, attracting nearly 2000 riders from all over Taiwan, representing Gogoro, GoShare, and PBGN vehicles.

11 月，我們舉辦了第七屆台北大橋騎行活動，吸引了來自台灣各地近 2000 名騎行者，代表 Gogoro、GoShare 和 PBGN 車輛。

During the year, we also received two major capital investments from [Gosino] and Castrol that result in a total of $75 million invested in the second quarter.

今年，我們還獲得了來自 [Gosino] 和 Castrol 的兩筆重大資本投資，導致第二季的總投資額達到 7,500 萬美元。

In closing, it should be clear that our primary goal is accelerating our path to profitability.

最後，應該要明確的是，我們的首要目標是加速獲利。

We will achieve this objective by sharpening our focus on the energy business.

我們將透過加強對能源業務的關注來實現這一目標。

Realigning resources to deliver products and services that better meet our customer needs.

重新調整資源以提供更能滿足客戶需求的產品和服務。

Streamlining operations and reducing costs for greater efficiency and team collaborations.

簡化操作並降低成本，以提高效率和團隊協作。

The transition of the transportation and energy industries is a complex and challenging one.

運輸和能源產業的轉型是一個複雜而富有挑戰性的過程。

These are large and entrenched industries.

這些都是龐大且根深蒂固的產業。

Deeply rooted in government regulations, slow changing consumer behavior, and commoditized products, Gogoro's battery swapping ecosystem and smart scooters have already begun disrupting and tangibly demonstrating a better solution at scale.

Gogoro 的電池更換生態系統和智慧滑板車深深植根於政府法規、緩慢變化的消費者行為和商品化產品，已經開始大規模顛覆並實際展示出更好的解決方案。

The opportunities ahead are bigger than ever.

未來的機會比以往任何時候都更大。

The demand for sustainable, efficient, and scalable energy solutions is only increasing, and Gogoro is uniquely positioned to lead this transformation.

對可持續、高效和可擴展的能源解決方案的需求日益增長，而 Gogoro 則擁有獨特的優勢來引領這一轉變。

We are embracing these challenges as a team with a shared commitment to achieving profitability.

我們作為一個團隊迎接這些挑戰，共同致力於獲利。

I am personally incredibly passionate about Gogoro's future and look forward to share more as we continue to execute our strategy.

我個人對 Gogoro 的未來充滿熱情，並期待在我們繼續執行策略時分享更多。

I'd like to hand it to Bruce, who will walk through our Q4 and full year 2024 financials.

我想把它交給布魯斯，他將介紹我們 2024 年第四季和全年的財務狀況。

Thank you, Henry.

謝謝你，亨利。

I am pleased to have this opportunity to provide a summary of our fourth quarter and full year 2024 results.

我很高興有機會對我們 2024 年第四季和全年的業績進行總結。

Our full year revenue for 2024 was $310.5 million within the previously provided range of $305 million to $315 million.

我們 2024 年的全年收入為 3.105 億美元，在先前提供的 3.05 億美元至 3.15 億美元的範圍內。

In the 4th quarter, we took accounting charges of over $38 million to simplify and strengthen our business.

在第四季度，我們花費了超過 3800 萬美元的會計費用來簡化和加強我們的業務。

These impairment and exit costs materially impacted our fourth quarter and full year net loss results on an IFRS basis.

這些減損和退出成本對我們根據國際財務報告準則計算的第四季和全年淨虧損結果產生了重大影響。

However, we managed to deliver adjusted EBITDA of $46.5 million representing a slight increase from 2023 full year adjusted EBITDA.

然而，我們成功實現了 4,650 萬美元的調整後 EBITDA，較 2023 年全年調整後 EBITDA 略有增加。

These proactive steps allowed us to optimize our cost structure and set us up well for the future as a leaner and more efficient organization focused on delivering a clear path to profitability.

這些積極主動的措施使我們能夠優化成本結構，並為我們未來打造一個更精簡、更有效率的組織，專注於提供明確的獲利途徑。

Our energy business continues to grow, reinforcing the strength of our battery swapping and smart energy solutions.

我們的能源業務持續成長，增強了我們的電池更換和智慧能源解決方案的實力。

Gogoro, and powered by Gogoro Network partner brands, maintained its market leadership with a 72% market share of electric scooters, even as the overall two-wheel market contracted slightly.

儘管整體兩輪車市場略有萎縮，但 Gogoro 及其在 Gogoro Network 合作品牌的支持下，仍以 72% 的電動滑板車市佔率保持領先地位。

As we closed out 2024, we leveraged this transition period to refine our strategy, sharpen our focus on energy services and ecosystem enablement, and continue our international focus.

隨著 2024 年的結束，我們利用這一過渡期來完善我們的策略，更加重視能源服務和生態系統支持，並繼續我們的國際關注。

We continue to accumulate new subscribers on our Gogoro network, and that business continues to grow in line with expectations as we accumulate subscribers.

我們繼續在 Gogoro 網路上累積新用戶，隨著用戶數量的增加，該業務將繼續按照預期成長。

We ended the year with nearly 640,000 subscribers, up from 587,000 subscribers at the end of 2023, and had $137.9 million in battery swapping service revenue for the full year 2024, representing an increase of 4.6% over 2023.

截至年底，我們的用戶數量接近 64 萬名，高於 2023 年底的 587,000 名用戶，2024 年全年電池更換服務收入為 1.379 億美元，比 2023 年增長 4.6%。

As we anticipated, the overall market for two wheelers in Taiwan in 2024 declined substantially, dropping 13.6% from 871,000 units to 753,000 units.

正如我們預期，2024 年台灣兩輪車整體市場大幅下滑，從 87.1 萬輛下降 13.6% 至 75.3 萬輛。

Electric two-wheeler sales remained at 10.5% penetration, and Gogoro's smart scooters slightly increased our market share from 6.5% in 2023 to 7% in 2024, despite a small drop in Gogoro's units sold.

電動兩輪車銷售仍保持在 10.5% 的滲透率，儘管 Gogoro 的銷量略有下降，但 Gogoro 的智慧踏板車仍將我們的市場份額從 2023 年的 6.5% 小幅提升至 2024 年的 7%。

We continue to provide exceptional services to our customers who we are partnering with to reduce our carbon emission reduction goals.

我們將繼續為我們的合作客戶提供卓越的服務，以減少我們的減碳目標。

A total of over 12 billion kilometers have now been ridden.

目前，累計騎乘里程已超過120億公里。

Over 1 million tons of carbon saved on the Gogoro network, and a total of 400,000 swaps per day carried out.

Gogoro 網路節省了超過 100 萬噸碳，每天共進行 40 萬次交換。

Our international markets continue to deliver revenue and unit growth, but not at the pace we had anticipated, and Taiwan still accounts for more than 95% of our revenue.

我們的國際市場持續實現營收和銷售成長，但速度並未達到我們的預期，台灣市場仍占我們營收的 95% 以上。

We remain optimistic and committed to international growth, but developing these markets takes time.

我們對國際成長保持樂觀並致力於此，但開發這些市場需要時間。

For the fourth quarter, total revenue was $73 million down 2.2% year over year and down 19.2% year over year on a constant currency basis.

第四季總營收為 7,300 萬美元，年減 2.2%，以固定匯率計算年減 19.2%。

For the full year, total revenue was $310.5 million down 11.2% year over year and down 8.5% year over year on a constant currency basis.

全年總收入為 3.105 億美元，年減 11.2%，以固定匯率計算年減 8.5%。

Battery swapping service revenue for the fourth quarter was $35.9 million up 10.2% year over year and up 12.3% year over year on a constant currency basis.

第四季電池更換服務收入為 3,590 萬美元，年增 10.2%，以固定匯率計算年增 12.3%。

Battery swapping service revenue for the year was $137.9 million up 4.6% year over year, and up 8% year over year on a constant currency basis.

全年電池更換服務營收為 1.379 億美元，比去年同期成長 4.6%，以固定匯率計算，比去年同期成長 8%。

The year over year increases in our battery swapping service revenue was primarily due to our large subscriber base and high retention rates.

我們的電池更換服務收入年增率主要歸功於我們龐大的用戶群和高留存率。

We continue to see the strength of our subscription-based business model and increasing customer base.

我們繼續看到基於訂閱的商業模式和不斷增長的客戶群的優勢。

Sales of hardware and other revenue for the fourth quarter was $37.1 million down 37% year over year.

第四季硬體銷售額及其他收入為3,710萬美元，較去年同期下降37%。

The year over year decrease in sales of hardware and other revenues was driven by lower sales volume, a decrease in average selling price due to higher proportion of sales of entry level models, a decrease in our parts and accessory sales as non-Gogoro branded accessories and parts proliferate.

硬體銷售額及其他營收年減是由於銷售量下降、入門級機型銷售比例提高導致平均售價下降、非 Gogoro 品牌配件及零件激增導致零件及零件銷售下降。

A $4.6 million dollar carve out of revenue associated with deferred revenue adjustments for a battery swapping service revenue promotion program and these deferred revenues will be recognized over the next 24 months to 36 months.

與電池更換服務收入促銷計劃的遞延收入調整相關的 460 萬美元收入剝離將在未來 24 個月至 36 個月內確認。

Sales of hardware and other revenues for the full year were $172.6 million down 20.8% year over year and down 18.5% year over year on a constant currency basis.

全年硬體銷售額及其他收入為 1.726 億美元，年減 20.8%，以固定匯率計算年減 18.5%。

As a result of realigning our business, many one-time events reduced our gross margin for both the fourth quarter of 2024 and the full year of 2024.

由於業務調整，許多一次性事件降低了我們 2024 年第四季和 2024 年全年的毛利率。

For the full year 2024, gross margin was 2.4%, down from 14.6% last year, whereas non-IFRS gross margin was 14.8%, down from 16% last year.

2024 年全年毛利率為 2.4%，低於去年的 14.6%，而非國際財務報告準則下的毛利率為 14.8%，低於去年的 16%。

For the fourth quarter gross margin was 8.1%, down from a positive 11.6% in the same quarter last year, while non-IFRS gross margin was 14.2%, down from 14.8% in the same quarter last year.

第四季毛利率為8.1%，低於去年同期的11.6%；非國際財務報告準則下的毛利率為14.2%，低於去年同期的14.8%。

We believe the non IFRS figures more accurately reflect the real underlying nature of the business after excluding all one-time impacts.

我們認為，在排除所有一次性影響後，非國際財務報告準則數據更準確地反映了業務的真實基本性質。

We use these figures to measure our business performance.

我們用這些數據來衡量我們的業務績效。

The declining gross margin across both the fourth quarter and the full year was primarily driven by a combination of factors.

第四季和全年毛利率的下降主要是由多種因素造成的。

First a $5 million de-recognition expense on components removed from battery packs during the battery upgrade process and $9.4 million of total direct costs attributable with our battery upgrade initiatives.

首先，在電池升級過程中從電池組中拆除的組件產生了 500 萬美元的取消確認費用，以及歸因於我們電池升級計劃的總直接成本 940 萬美元。

Secondly, an increase in sales of lower margin entry level models.

其次，利潤率較低的入門車型銷售增加。

Third, higher excess capacity costs due to reduced sales volume.

三是銷量減少導致產能過剩成本上升。

Fourth, the full year impact of the $4.6 million hardware revenue carves out that I described previously.

第四，我之前描述的460萬美元硬體收入的全年影響。

And fifth, a lower margin contribution from Gogoro OEM parts.

第五，Gogoro OEM零件的利潤貢獻較低。

For the last few quarters, we've been undertaking a program to carry out one-time voluntary upgrades on certain battery packs, which will take several quarters to complete and will continue throughout 2025.

在過去的幾個季度裡，我們一直在實施一項計劃，對某些電池組進行一次性自願升級，這項計劃將需要幾個季度才能完成，並將持續整個 2025 年。

These upgrades provide multiple benefits.

這些升級帶來了多重好處。

More efficient deployment of our resources than replacing battery packs, increasing lifetime capacity of each battery pack, including extending its first mobility use case useful life, and solidifying the extra lifetime capacity of each battery pack to validate our Second Life thesis.

比更換電池組更有效地部署我們的資源，增加每個電池組的終身容量，包括延長其首次移動用例的使用壽命，並鞏固每個電池組的額外終身容量以驗證我們的第二人生論文。

These upgrades are expected to create economic benefits in the long term but do generate a short-term reduction in our gross margin as we continue carrying out the upgrades.

這些升級預計將在長期內創造經濟效益，但隨著我們繼續升級，在短期內會導致我們的毛利率下降。

We expect our cash position, gross profit, and gross margin will continue to be impacted by the cost of these upgrades during 2025.

我們預計，2025 年我們的現金狀況、毛利和毛利率將繼續受到這些升級成本的影響。

In order to improve our overall customer experience and to extend battery life, we plan to continue upgrading a substantial quantity of our battery packs which are already in circulation and will improve designs of our battery packs to make them even more rugged, safe, and long lasting.

為了改善我們的整體客戶體驗並延長電池壽命，我們計劃繼續升級大量已流通的電池組，並改善電池組的設計，使其更加堅固、安全和持久。

For the fourth quarter, net loss was $71.8 million representing an increase of $45.1 million from a net loss of $26.7 million in the same quarter last year.

第四季淨虧損為 7,180 萬美元，較去年同期的淨虧損 2,670 萬美元增加 4,510 萬美元。

The increase in net loss was due to a $29.9 million dollar increase in other operating expenses associated with various accounting charges for impairment and exit activities and the decrease of $16.5 million in gross profit.

淨虧損增加是由於與減損和退出活動的各種會計費用相關的其他營運費用增加了 2,990 萬美元，以及毛利潤減少了 1,650 萬美元。

We reduced operating expenses substantially in the fourth quarter, contributing $4.7 million in savings.

我們在第四季大幅削減了營運費用，節省了 470 萬美元。

For the full year 2024, net loss was $123.2 million representing a decrease of $47.2 million from a net loss of $76 million last year.

2024 年全年淨虧損為 1.232 億美元，較去年的 7,600 萬美元淨虧損減少 4,720 萬美元。

The increase in net loss was primarily due to a $43.5 million decrease in gross profit driven by costs related to our battery upgrade initiatives.

淨虧損增加主要是因為與電池升級計畫相關的成本導致毛利減少 4,350 萬美元。

Increase in impairment loss of $32.6 million, $3.3 million of exit activities, and $1.6 million in customer care packages.

減損損失增加 3,260 萬美元，退出活動損失增加 330 萬美元，客戶服務套餐損失增加 160 萬美元。

This was partially offset by a favorable change of $12.1 million in the fair value of financial liabilities and a $25.1 million dollar reduction in operating expenses excluding other operating expenses.

但這一變化被金融負債公允價值的 1,210 萬美元的有利變化和不包括其他營運費用的營運費用的 2,510 萬美元的減少部分抵消。

For the fourth quarter, adjusted EBITDA was $8.8 million representing a decrease of $0.2 million from $9 million in the same quarter last year.

第四季度，調整後的 EBITDA 為 880 萬美元，較去年同期的 900 萬美元減少 20 萬美元。

The decrease was primarily due to a $3.2 million dollar decrease in non-IFRS gross profit margin, excluding share-based compensation, depreciation and amortization, also excluding battery upgrade initiatives and exit activities.

下降主要是由於非國際財務報告準則下的毛利率下降 320 萬美元（不包括股權激勵、折舊和攤銷，也不包括電池升級計劃和退出活動）。

The decrease was partially offset.

下降幅度被部分抵消。

By a reduction in operating expenses from various cost savings initiatives compared to the same quarter last year.

與去年同期相比，透過採取各種成本節約措施減少了營運費用。

For the full year 2024, adjusted EBITDA was $46.5 million representing an increase of $1 million from $45.5 million last year.

2024 年全年調整後的 EBITDA 為 4,650 萬美元，較去年的 4,550 萬美元增加 100 萬美元。

The increase was primarily due to a reduction in operating expenses from various cost savings initiatives compared to the same quarter last year.

與去年同期相比，成長的主要原因是各種成本節約措施導致的營運費用減少。

The increase was partially offset by a $9.9 million dollar decrease in non-IFRS gross profit margin.

非國際財務報告準則下的毛利率下降了 990 萬美元，但部分抵銷了這一成長。

We generated $12.1 million of operating cash inflow in 2024 compared to 2023, where we generated $59.1 million of cash in operations.

2024 年，我們產生了 1,210 萬美元的營運現金流入，而 2023 年，我們產生了 5,910 萬美元的營運現金流入。

With a $117.1 million dollar cash balance at the end of 2024 and the additional credit facilities that are available to us we believe we have sufficient sources of funding to meet our near-term business growth objectives.

憑藉 2024 年底 1.171 億美元的現金餘額和可用的額外信貸便利，我們相信我們有足夠的資金來源來滿足我們近期的業務成長目標。

In the fourth quarter, we focused on simplifying our business and realigning our resources to focus on delivering exceptional products with increased efficiency.

第四季度，我們致力於簡化業務、重新調整資源，以更有效率地提供卓越的產品。

Our plan is to accelerate our path to profitability.

我們的計劃是加速實現盈利。

These initiatives include structural and operating realignment across the company, consolidation and exit of facilities, accounting impairments alongside other reductions in operating expenses.

這些舉措包括整個公司的結構和營運調整、設施合併和退出、會計減損以及其他營運費用的削減。

As a result of these actions, we recognize $34 million of non-cash impairment charges for certain manufacturing assets in India, China, and Taiwan and the decline in value of our equity investment in the Philippines.

由於這些行動，我們確認了印度、中國和台灣某些製造資產的3,400萬美元非現金減損費用以及我們在菲律賓的股權投資價值的下降。

We also recognize $4.8 million of exit activities, including idle facilities, and $3.3 million of customer care package programs in 2024.

我們也確認 2024 年將有 480 萬美元的退出活動（包括閒置設施）和 330 萬美元的客戶關懷套餐計劃。

Gogoro's fourth quarter and full year 2024 results of operations were materially impacted by these charges, while the exit activities, impairment of assets, and one-time customer experience enhancement program had no impact on non-IFRS net loss and adjusted EBITDA.

Gogoro 第四季和 2024 年全年營運業績受到這些費用的重大影響，而退出活動、資產減損和一次性客戶體驗提升計畫對非國際財務報告準則淨虧損和調整後 EBITDA 沒有影響。

Further, Gogoro's is expected to create approximately $25 million in savings in 2025 compared to 2024 as a result of the cost reduction plan.

此外，由於實施了成本削減計劃，Gogoro 預計 2025 年將比 2024 年節省約 2,500 萬美元。

We expect our Gogoro network battery swapping business to reach profitability and deliver non IFRS net income in 2026 and our hardware sales business to reach profitability in 2028.

我們預計，Gogoro 網路電池更換業務將在 2026 年實現盈利並實現非國際財務報告準則下的淨收入，而我們的硬體銷售業務將在 2028 年實現盈利。

We believe the Taiwan two-wheel market in 2025 will remain at 2024 levels.

我們認為2025年台灣兩輪車市場將維持在2024年的水準。

For the full year 2025, we expect our revenue to be between $295 million to $315 million on a constant currency basis, which would reflect 2025 Taiwan market condition and the conversion rate.

我們預計 2025 年全年營收以固定匯率計算將在 2.95 億美元至 3.15 億美元之間，這將反映 2025 年台灣市場狀況和轉換率。

We estimate that approximately 95% of such full year revenue will be generated from the Taiwan market.

我們預計全年約95%的收入將來自台灣市場。

Our IFRS gross margin will be continuously negatively impacted in the short term because of our ongoing and accelerated battery upgrade initiative, which is expected to be completed by the end of 2025.

由於我們正在進行並加速電池升級計劃（預計於 2025 年底完成），我們的 IFRS 毛利率將在短期內持續受到負面影響。

With the combination of ASP pressure from entry level models and delays in realizing anticipated international sales, we expect our non-IFRS gross margin to remain at the current level in 2025.

受入門級車型平均售價壓力及預期國際銷售實現延遲影響，我們預計 2025 年非國際財務報告準則下的毛利率將維持在當前水準。

With that financial update, I'll hand the session back to the moderator for a Q&A session.

介紹完財務更新狀況後，我將把會議交還給主持人進行問答環節。

Thank you.

謝謝。

Thank you, Henry and Bruce for the updates.

感謝亨利和布魯斯的更新。

As the attendees are formulating their questions, I will ask two questions that we have collected.

當與會者提出問題時，我會提出我們收集到的兩個問題。

Question number one, Can you provide additional color on your expectation of energy business to break even in 2026?

第一個問題，您能否進一步說明一下您對 2026 年能源業務實現收支平衡的預期？

Gogoro has always viewed ourselves as an energy company, and we are now even more focused on this part of the business.

Gogoro 一直視自己為一家能源公司，現在我們更專注於這部分業務。

We have accumulated approximately 640,000 subscribers, have very predictable [artpool], and has extremely high retention rates of our subscribers.

我們已累積了約 64 萬名訂閱者，擁有非常可預測的 [artpool]，訂閱者的保留率極高。

Based on this information, we can predict with relative accuracy our future battery swapping revenue and provided we can control costs in line with our planned budget expenditures.

基於這些信息，我們可以相對準確地預測我們未來的電池更換收入，並且我們可以根據計劃的預算支出控製成本。

We will break even on a non-IFRS basis in 2026.

根據非國際財務報告準則，我們將在 2026 年達到收支平衡。

We are confident of that outcome.

我們對這結果充滿信心。

Thank you, Henry.

謝謝你，亨利。

So question number two.

所以問題是第二個。

What action plans can you implement to raise your stock price back above $1 so you don't get delisted?

您可以實施哪些行動計劃來讓您的股價重新回到 1 美元以上，從而避免被摘牌？

And when does the 180 day grace period end?

180 天的寬限期何時結束？

Thanks, Anny.

謝謝，安妮。

Stock price is really a reflection of the market's perspective on our future strategy, our earning potential, our product roadmap, and a number of other factors.

股票價格實際上反映了市場對我們未來策略、獲利潛力、產品路線圖以及其他一些因素的看法。

So, we hope that through this discussion we've had today, we've shed some light on our future plans and primarily to shed some light on our anticipation of accelerating our path to profitability and tightening our cost structure through a number of different actions.

因此，我們希望透過今天的討論，能夠闡明我們未來的計劃，主要是闡明我們對透過一系列不同行動加速獲利和收緊成本結構的預期。

So, with that we trust that the market will have more confidence in our ability to deliver future business results.

因此，我們相信市場將對我們實現未來業務成果的能力更有信心。

Our plan is to remain listed on the Nasdaq.

我們的計劃是繼續在納斯達克上市。

The deadline is April 28 to regain compliance, and we are exploring a number of different alternative courses of action to ensure that we do regain compliance.

恢復合規的最後期限是 4 月 28 日，我們正在探索多種不同的替代行動方案，以確保我們能夠恢復合規。

Thank you, Bruce.

謝謝你，布魯斯。

Operator, please open the line for Q&A session.

接線員，請開通問答線。

Thank.

感謝。

(Operator Instructions)

（操作員指令）

Fawne Jiang, Benchmark Co.

Fawne Jiang，Benchmark Co.

Oh, thank you.

哦，謝謝。

Hi, Henry.

你好，亨利。

Hi, Bruce.

你好，布魯斯。

Thanks for taking my questions.

感謝您回答我的問題。

A couple on my side.

我這邊有一對夫婦。

First, it's very encouraging to hear your, I think game plans in terms of, in the path to possibilities ahead.

首先，聽到您為未來的可能性所製定的計劃，我感到非常鼓舞。

I think Henry actually said a bit more light earlier, but I just want to, go a bit deeper.

我認為亨利實際上之前說得更清楚一些，但我只是想更深入一些。

With the assumption to break even in 2026 on the net income and the free cash flow 2027 for energy and also on the vehicle side to break even on 2028, what's your like growth assumption underlying growth assumption to achieve this, I think in a profitability target.

假設淨收入在 2026 年達到收支平衡，能源業務在 2027 年實現自由現金流收支平衡，汽車業務在 2028 年實現收支平衡，那麼實現這一目標的增長假設背後的增長假設是什麼，我想這是盈利目標。

Thanks.

謝謝。

I, I'll take a first crack at that so.

我，我會先試試看。

We've really shifted our focus in terms of how we think about profitability.

我們對於獲利能力的看法確實發生了轉變。

We need to take an affordability approach to this.

我們需要採取可承受的方法來解決這個問題。

So, we are actually using very conservative growth assumptions with regards to for example, vehicle sales quantities in Taiwan.

因此，我們實際上對台灣的汽車銷售量等使用了非常保守的成長假設。

For this year, as you can tell from our revenue guidance, with some growth in the energy business, there is limited growth forecasted from a vehicle standpoint.

就今年而言，從我們的收入指引中可以看出，儘管能源業務有所成長，但從汽車角度來看，預計成長有限。

Last year we sold a little bit under 50,000 units, and this year our targets are roughly in line with that.

去年我們的銷售量略低於5萬台，今年我們的目標大致與此一致。

If you just do the ASP, backwards math from our revenue forecast.

如果您只是計算 ASP，那就根據我們的收入預測進行反向計算。

So, we're confident that we will hit that 2026 energy break even, the 2027 cash flow and then 2028 the vehicle business should be able to break even as well.

因此，我們有信心在 2026 年實現能源收支平衡，在 2027 年實現現金流收支平衡，然後在 2028 年實現汽車業務收支平衡。

Understood.

明白了。

Just a quick follow up on that, I understand, you guys, focus on the cost optimization seems like you have very effective plan game plan in place.

我只是想快速跟進一下，我明白，你們專注於成本優化，似乎你們已經制定了非常有效的計劃。

Do you expect, like what factors, what kind of need to happen for you to potentially return to a growth?

您預計需要哪些因素或什麼樣的情況才能恢復成長？

or is that focused for the company down the road?

或者說這是公司未來發展的重點？

Yeah, so I think there's a two side of it.

是的，所以我認為這事有兩面性。

The first side of it is our energy business that provide us a constant growth in revenue and also EBITDA.

首先是我們的能源業務，它為我們帶來了收入和 EBITDA 的持續成長。

So, you can see we have a very good 2026 in energy business and also, we are looking for.

因此，您可以看到，我們在 2026 年的能源業務前景非常好，而且我們也在期待。

Forward to the free cash flow in 2027.

展望2027年的自由現金流。

And for vehicle, I think we are now officially into the second cycle of Gogoro product roadmap.

對於車輛而言，我認為我們現在正式進入了 Gogoro 產品路線圖的第二個週期。

For the first cycle of product road map, we are required to build a vehicle from the like a very top tier to the entry level tier because we are fundamentally Gogoro is an infrastructure project.

對於產品路線圖的第一個週期，我們需要製造一款從最頂級到入門級的汽車，因為從根本上來說，Gogoro 是一個基礎設施專案。

but based on the infrastructure you require to have more subscribers and given that our subscriber is at a breakeven point, it provides us another opportunity to revisit our product road map on the vehicle side.

但基於擁有更多用戶所需的基礎設施，並考慮到我們的用戶處於盈虧平衡點，這為我們重新審視車輛方面的產品路線圖提供了另一個機會。

So, we have a very well-considered product roadmap for the next 10 years from now.

因此，我們針對未來 10 年制定了非常周全的產品路線圖。

So, we believe that product will help us to achieve the growth while helping us to achieve the breakeven of the vehicle business.

所以，我們相信該產品將幫助我們成長，同時幫助我們實現汽車業務的損益兩平。

I think the thing I'll add to Fawne is, there's two sides of it, right?

我想我要補充的是，Fawne 的事情有兩面性，對嗎？

One is revenue growth and the other is cost control.

一是收入成長，二是成本控制。

And obviously cost control is not our fundamental objective.

顯然成本控制不是我們的根本目標。

It's an outcome of focusing on streamlining the business as you saw, we've taken a number of accounting charges.

正如您所看到的，這是專注於精簡業務的結果，我們已經收取了一些會計費用。

We're consolidating space, we're writing down some inventory if we don't believe there's future sales opportunities, we are looking at, some streamlining of resources within the company.

我們正在整合空間，如果我們認為未來沒有銷售機會，我們就會減記一些庫存，我們正在考慮精簡公司內部的資源。

We're looking at streamlining of CapEx within the country of the company.

我們正在研究簡化公司所在國家的資本支出。

And so all of these things contribute to setting us up to a cost structure where this year, for example, our fixed costs will be reduced from $120 million last year to $88 million this year.

所有這些因素都有助於我們建立一種成本結構，例如，今年我們的固定成本將從去年的 1.2 億美元減少到今年的 8,800 萬美元。

And then across the board, as we mentioned, we expect about $25 million in savings whether it's marketing, whether it's facility space, whether it's rental of offices, whether it's our retail channel.

然後，正如我們所提到的，從整體上看，我們預計節省約 2500 萬美元，無論是行銷、設施空間、辦公室租金還是零售管道。

We're looking at every single opportunity to get more efficient and the net results of that is a more optimized cost structure, which leads to an improved and faster path to profitability as well.

我們正在尋找每一個提高效率的機會，而這樣做的最終結果是更優化的成本結構，從而帶來更好、更快的獲利途徑。

Understood.

明白了。

That's, very helpful.

這非常有幫助。

Just a quick follow up on the growth side.

只是成長方面的快速跟進。

I think Henry mentioned, you guys see the energy storage, as a new source of revenue for you, down the road.

我想亨利有提到過，你們將能源儲存視為未來新的收入來源。

I just wonder how should we size the market potential and your value proposition there.

我只是想知道我們應該如何衡量那裡的市場潛力和您的價值主張。

And on top of course, you did mention I think international expansion is still part of your long term growth plan and just wonder how should we think about the revenue potential, growth potential from that part of your business down the road.

當然，最重要的是，您確實提到，我認為國際擴張仍然是您長期成長計畫的一部分，我只是想知道我們應該如何看待未來您業務該部分的收入潛力和成長潛力。

Yeah, I think the energy storage is definitely something really big in Taiwan and we are expected to it will be very big in Southeast Asia, especially that the renewable energy is kicking in.

是的，我認為能源儲存在台灣絕對是一件大事，我們預計它在東南亞也會有很大的發展，尤其是再生能源正在興起。

And you can see from the policy side of it in Taiwan that we already seen a lot of policies coming out and our government is pushing hard on the renewable energy and to adopt that renewable energy trend, there's a huge opportunity for us to provide the energy storage service to the SMB that's like a factory and household.

從台灣的政策方面可以看到，我們已經看到很多政策出台，我們的政府正在大力推動再生能源，為了採用再生能源趨勢，我們有巨大的機會為工廠和家庭等中小企業提供能源儲存服務。

As a matter of fact, we already have a pilot, some of the pilot with like for example, I am in Taipei and more than 346 intersections has the battery in inside of it.

事實上，我們已經進行了試點，例如我在台北，有超過 346 個路口裡面裝有電池。

So, when the power is breaking Brownout, yeah, brownout we our battery really helped being very helpful.

因此，當電源出現電壓中斷時，是的，電壓中斷時我們的電池確實很有幫助。

So, we have seen that is something we want to build our second revenue growth on that.

因此，我們已經看到，這是我們想在此基礎上實現的第二個收入成長。

And the other side of it is, people have been talking about like the Second Life battery usage and it's really hard for a traditional vehicle maker even with when they, manufacturing the EV, they don't have the data of the battery, they don't know how it was used and how it was the monitored.

另一方面，人們一直在談論類似第二人生的電池使用，這對傳統汽車製造商來說真的很難，即使在他們製造電動車時，他們也沒有電池的數據，他們不知道電池是如何使用的，是如何監控的。

So, I think since Gogoro on all the assets and we have the technology, we have a very good AI algorithm to monitor the battery and also every single cell in the battery pack.

因此，我認為由於 Gogoro 擁有所有資產並且我們擁有技術，所以我們擁有非常好的 AI 演算法來監控電池以及電池組中的每個電池。

We will definitely capitalize it in our future revenue growth.

我們肯定會利用它來實現未來的收入成長。

So, we have a strong belief in that.

因此，我們對此堅信不疑。

And so, as I said in the call, we already finished the hardware validation with Tai Power, which is a state-owned Electricity company in Taiwan.

因此，正如我在電話中所說，我們已經與台灣國有電力公司台電完成了硬體驗證。

We already finished the hardware validation, last November and we are now in the sandbox with them.

去年 11 月，我們已完成硬體驗證，現在我們與他們一起處於沙盒中。

We hopefully we will finalize it in next 6 months and once we have it or we will have a certain, we definitely will have a solid progress on our business planning.

我們希望在未來 6 個月內完成它，一旦我們有了它或有了確定的結果，我們的業務規劃肯定會取得穩步進展。

For Since we already have 1.4 million battery pack in the network and we are expecting to retire some of it from the Gen one battery, Gen 1 battery is actually, we already deployed in our network since 2015, so we can see that is still stay in a very good.

由於我們的網路中已經有 140 萬個電池組，並且我們預計將從第一代電池中淘汰其中的一部分，第一代電池實際上自 2015 年以來就已經在我們的網路中部署，因此我們可以看到它仍然保持非常好的狀態。

Good, healthy status and we want to make these Gen one battery to retire and repurpose that in our ESS.

狀態良好、健康，我們希望讓這些第一代電池退役，並在我們的 ESS 中重新利用。

And for next coming few years, we will have more battery to retire and we are seeing these changes, the need of ESS is trending upwards so we definitely will show more revenue progress on that part.

在接下來的幾年裡，我們將有更多的電池需要淘汰，我們看到了這些變化，ESS 的需求呈上升趨勢，因此我們肯定會在該部分顯示出更多的收入成長。

For me, I think ESS in 2025 is a kickoff.

對我來說，我認為 2025 年的 ESS 是一個開始。

We have finished our first all the life cycle of our vehicle business and we see we already contained a great progress as an infrastructure company.

我們已經完成了汽車業務的第一個整個生命週期，並且我們看到作為基礎設施公司我們已經取得了巨大的進步。

So, the second part of the growth, we definitely would depend on the progress of our ESS business, and we would love to share with you Fawne and the rest of the investor more in the next few earnings calls.

因此，成長的第二部分，我們肯定取決於我們的 ESS 業務的進展，我們很樂意在接下來的幾次財報電話會議上與 Fawne 和其他投資者分享更多資訊。

So, Bruce do you want to top up.

那麼，布魯斯，你想充值嗎？

Yeah, So, I'll take the second part of the question Fawne about international expansion.

是的，那麼，我將回答 Fawne 提出的第二部分關於國際擴張的問題。

There's three things we believe are required for success in the international markets.

我們認為，要在國際市場取得成功，必須具備三個條件。

We require policy, we require partners, and we require patience.

我們需要政策，我們需要合作夥伴，我們需要耐心。

And so policies are being aligned at different speeds in different markets.

因此，不同市場中的政策調整速度不同。

Partnerships are being aligned at different speeds in different markets.

不同市場中的合作關係以不同的速度建立。

And then obviously we have to be patient, and we have to wait for the right time, wait for the right partners, and wait for the right policy before we'll be successful.

顯然，我們必須要有耐心，必須等待合適的時機、合適的合作夥伴、適當的政策，然後才能成功。

We have been targeting Southeast Asian markets for some time.

我們一直以來都瞄準東南亞市場。

We'll continue to do that, but we are still forecasting that for this year the bulk of our revenue, 95% of our revenue, will be from the Taiwan market as soon as there are better updates that we can provide, and we hope that we'll have some of those updates soon, we'll provide them to you directly.

我們會繼續這樣做，但我們仍預測，今年我們的大部分收入（95％）將來自台灣市場，只要我們可以提供更好的更新，我們希望很快能提供一些更新，我們會直接提供給您。

Yeah, we were looking for a good update in the next few weeks.

是的，我們希望在接下來的幾週內得到好的更新。

So, we love to share that more in the next couple of weeks.

因此，我們很高興在接下來的幾週內分享更多內容。

Thank you for your questions, Fawne.

謝謝你的提問，Fawne。

I'll hand back to Anny to check for any questions online back to you.

我會把問題轉交給安妮 (Anny)，讓她在線檢查是否有任何問題可以回覆給您。

At this time, I will take a question from online.

現在，我將回答網路上的一個問題。

This is the question.

這就是問題所在。

Home energy storage has gotten very popular in recent years.

近年來，家庭儲能變得非常流行。

Does Gogoro plan on releasing battery packs to consumers that can buy?

Gogoro 是否計劃向消費者推出可購買的電池組？

Yes, we have seen a strong growth momentum in Taiwan as well, and I think American has more home use of that, but I think Taiwan is growing.

是的，我們也看到了台灣強勁的成長勢頭，我認為美國家庭對此的使用更多，但我認為台灣正在成長。

From our perspective as an energy company, we have already, we have been position ourselves as a service company.

從能源公司的角度來看，我們已經將自己定​​位為服務公司。

So, no matter the first life cycle usage of battery, we are providing as a subscription model.

因此，無論電池的首次生命週期使用情況如何，我們都以訂閱模式提供。

Not sure if we will consider to do a like a sellout type of business model, but definitely we will provide a service based on that but we will consider to do a sellout but we prefer to do but our thesis is to remain providing the services.

不確定我們是否會考慮採用類似賣光類型的商業模式，但我們肯定會提供基於此的服務，但我們會考慮賣光，但我們更願意這樣做，但我們的論點是繼續提供服務。

I have another question online.

我在網路上還有另外一個問題。

Are there any plans to license your technology patents to diversify your revenue?

您是否計劃授權您的技術專利來實現收入多元化？

We have PBGN.

我們有 PBGN。

There's two ways that we make revenue from licensing.

我們透過兩種方式從授權中獲得收入。

One is we sell kits of parts to powered by the Gogoro network partners, as Henry just mentioned, the PBGN partners, and so that's effectively a licensing revenue business.

一是我們向 Gogoro 網路合作夥伴（也就是亨利剛才提到的 PBGN 合作夥伴）出售零件套件，因此這實際上是一項授權收入業務。

We also already have licensing businesses with our software programs in international markets wherefore all batteries swapped.

我們也已經在國際市場上開展了軟體程式的授權業務，因此所有電池都已更換。

There's a small licensing fee paid back to Gogoro.

我們向 Gogoro 支付了一小筆許可費。

We would be open to broader licensing programs in foreign countries with people who want to run full enclosed and closed loop battery swapping networks with people who are interested in taking the battery pack design and deploying it locally in country.

我們會向國外更廣泛的許可計劃開放，與那些想要運行全封閉和閉環電池交換網絡的人以及有興趣採用電池組設計並在國內部署的人合作。

We're open to lots of different models, we're open to lots of different partnerships and would encourage anyone who's interested in working with us just to reach out directly and see how we can help.

我們對許多不同的模式持開放態度，我們對許多不同的合作夥伴關係持開放態度，並鼓勵任何有興趣與我們合作的人直接與我們聯繫，看看我們能如何提供幫助。

Our fundamental objective is to make urban mobility cleaner, greener, and more sustainable.

我們的根本目標是讓城市交通更乾淨、更綠色、更永續。

And so if we can help people in a variety of countries achieve that objective and collectively make the world a cleaner, greener place, then we'll be happy to do that.

因此，如果我們能夠幫助不同國家的人民實現這一目標並共同建立一個更清潔、更綠色的世界，那麼我們會很樂意這樣做。

So, at this time, there are no further questions.

因此，目前，沒有其他問題。

I'll turn the call over to Henry for some few closing remarks.

我將把電話轉給亨利，讓他做幾句結束語。

Thanks, Anny.

謝謝，安妮。

If you take one thing from today's call, please know that despite our recent challenges, Gogoro is laser focused and completely committed to our customer experience and the goal of profitability.

如果您從今天的電話會議中了解一件事，請知道，儘管我們最近面臨挑戰，但 Gogoro 仍然專注於並完全致力於我們的客戶體驗和盈利目標。

So thank you for your support of Gogoro and thanks for calling into today's call.

非常感謝您對 Gogoro 的支持，也感謝您今天的來電。

Thank you for your participation in today's conference.

感謝您參加今天的會議。

This does concludes the program.

該計劃確實到此結束。

You may now disconnect.

您現在可以斷開連線。