The company continues to invest in new production capacity. Does the industry have an overcapacity problem?

CATL: Dear investors, the company's production capacity is expected to be gradually released to ensure stable production and customer delivery needs. The industry's capacity expansion needs to track the final implementation, and it is also necessary to see the matching of future products and technologies with existing processes and equipment in the process of continuous upgrading. We believe that effective production capacity will be scarce in the future, and there will be a problem of excess ineffective production capacity. Thank you for your attention.