Zhang Yongwei, Vice Chairman and Secretary General of China Electric Vehicle 100, said in a speech on December 27: In 2023, the utilization rate of power battery production capacity was only 40%, but your company is still investing in building factories and devoting itself to the deployment of new production capacity. Is it necessary? How does the company consider this?

CATL: Dear investors, the company will promote capacity construction based on market demand and customer orders. The company's current capacity utilization rate is at a relatively high level in the industry. Thank you for your attention.