Jinlongyu Says Solid-State Battery Business Still in Capacity Buildout

This is a disclosure-driven reality check on a stock whose rally likely ran ahead of its fundamentals. The company is effectively telling the market that solid-state batteries remain a pre-revenue story — small-batch orders, no stable income, no meaningful earnings contribution — which puts it in the same early-stage bucket as many peers chasing the theme. The explicit commercialization risk warning matters more than the capacity language. What's worth watching is whether small-batch orders convert into repeat, contracted volume, and whether the company's disclosures shift from construction milestones to revenue recognition.