Hello, the gross profit of the company's lithium battery business was only 9.0% last year, which is less than half of that of its peers in the iron-lithium industry. How can it compete with its peers? For example, Defang Nano, the real leader in iron-lithium, is it necessary to expand iron-lithium production capacity under such pressure? Also, what is the gross profit of the company's iron-lithium business in the first quarter?

Fulin Precision: Hello, the scale of the company's iron-lithium business was relatively small last year. With the 50,000-ton production capacity of the Shehong base reaching full capacity in December 2021, the effective production capacity has completed the ramp-up in the first quarter of this year; at the same time, the capacity under construction in Shehong is 60,000 tons. After the project reaches full capacity, the company will have an annual production capacity of 122,000 tons in the short term. With the further increase in production capacity and the upgrade of the supply chain, it will gradually achieve large-scale cost reduction, thereby continuously improving the profitability of the lithium battery positive electrode material business. Thank you for your attention!