Hello, there are many voices in the market recently that the destocking effect of battery companies in 2023 is not ideal. What is the relative level of battery inventory in our company? Is there still a large amount of inventory that has not been digested?

CATL: Hello investors, the company has established an inventory management committee to conduct overall control over inventory from the top level to improve inventory utilization and turnover efficiency. As of September 30, 2023, the company's inventory was 48.884 billion yuan, which is at a relatively low level. Thank you for your attention.