Dear Secretary, your company's Lingang factory started mass production on May 3. Is the capacity ramp-up going smoothly? Can the yield of conductive silicon carbide substrates be improved in a trend to increase the company's gross profit margin? What is the supply and demand situation of the company's products? Are there any new orders? Thank you.

Tianyue Advanced: Dear investors, hello! The construction of the Shanghai Lingang factory has achieved phased results, and a product delivery ceremony was held on May 3. With the continuous increase in the production capacity and output of the Shanghai Lingang factory, the company is expected to gain greater market influence in the SiC field. As one of the domestic silicon carbide substrate manufacturers with the most comprehensive technology and the best internationalization, the company continues to increase its R&D efforts, conducts intensive experiments in core technology fields such as crystal growth and defect control, continuously breaks through technical bottlenecks, improves product yield, accelerates product innovation, and consolidates and enhances the company's leading position in the industry. The excellent physical properties of silicon carbide materials themselves and the continuous deepening of downstream application fields, along with the rapid growth of global and domestic terminal market demand in new energy vehicles, new energy power generation and energy storage, the industry's demand for silicon carbide substrates has shown a sustained and strong trend. The company's order expansion is smooth, and its products are highly recognized by customers. It has signed long-term cooperation agreements with internationally renowned companies in the fields of power electronics and automotive electronics, such as Bosch Group and Infineon, and has a high brand awareness. In the future, the company will rely on its leading technological advantages to continuously improve its production capacity, meet the growing market demand, persist in the pursuit of excellent product quality, and always create greater value for customers. Thank you for your attention to the company!