Hello, Secretary Dong. I noticed that the overseas business of IoT in the fourth quarter was seriously below expectations. How much can it recover this year? In addition, the contract liabilities of 3.4 and the inventory of 8.5 are also much higher than in previous years. Is it also related to IoT? If so, how does the company plan to deal with it?

ThunderSoft: Hello. In 2022, the company's smart Internet of Things business achieved business revenue of 1.761 billion yuan, a year-on-year increase of 39%, of which the revenue related to smart computing modules and complete machine products was 1.54 billion yuan, a year-on-year increase of 35.23%. The smart industry-related business with the company's edge computing technology as the core has begun to take shape, and achieved operating income of 220 million yuan in 2022. At the end of 2022, inventory increased by 19% from the beginning of the period, and contract liabilities increased by 35% from the beginning of the period. The company purchases raw materials according to customer orders and recognizes contract liabilities according to the terms of the contract. Thank you for your attention!