May I ask your company, do we have the disc technology of Honeycomb Company? Is it because of this technological shortcoming that the big order of BMW Company fell into the hands of others? Looking forward to the company's reply! Thank you

CATL: BMW is an important strategic partner of the company. Since the two parties established a strategic partnership in 2012, the company has continued to provide BMW with a full range of power battery products covering cells, modules, and packs with advanced technology and diversified products. The company has obtained orders for cylindrical batteries and square batteries for BMW's next-generation platform and has occupied a major share, reflecting BMW's high recognition of the company. In the future, we will continue to deepen our cooperation with BMW, provide customers with more competitive and sustainable products and services, and jointly promote the global transportation electrification and clean energy transformation. Thank you for your attention.