Hello, Secretary Dong! What is the main reason for the company's losses from the beginning of the year to the third quarter? How is the company's current lithium iron phosphate business? When is it expected to turn losses into profits? Thank you!

Fulin Precision: Hello, in the first three quarters of 2023, due to the imbalance of supply and demand in the field of lithium battery materials and fluctuations in raw material prices, the company's overall capacity utilization rate was low, coupled with the impact of large inventory impairment, resulting in a decline in the operating income and profits of lithium battery positive electrode materials. The company will accelerate the diversification of customers for lithium battery positive electrode materials business, accelerate the promotion of cost reduction and efficiency improvement, continue to increase investment in new product innovation and research and development, and continue to improve the operating performance of lithium battery positive electrode materials business. Thank you for your attention!