Could you please introduce the company's product development and technology investment in the past two years? What are the details of the cooperation with major new energy vehicle companies? Do you have the technology to mass produce? How do the current orders compare with last year?

Yingboer replied: The company invested 42.3505 million yuan in R&D projects in 2020, accounting for 10.06% of operating income, and 52.4681 million yuan in R&D in 2019, accounting for 16.47% of operating income. On the basis of existing customers such as JAC Motors, BAIC New Energy, Changan Automobile, SAIC-GM-Wuling, and Yundu Automobile, the company has newly obtained multiple A-class, B-class and medium-to-large SUV projects from Weimar, Dongfeng, Baoneng, etc., and obtained dual-motor controller projects for hybrid models such as FAW and SAIC-GM-Wuling, and obtained multiple commercial vehicle projects from ZF, SAIC Maxus, Ruichi, Changhe, etc. The five-in-one powertrain products supporting Geely Fengsheng battery-swap passenger cars have begun mass production, and the SiC controller samples provided to Ford Motor and FAW have been delivered. The company can provide customers with products including drive assembly, power assembly and power domain core modules. It is one of the few leading companies in China with independent research and development and full-process production capabilities for the power domain of new energy vehicles, and can quickly respond to the personalized needs of vehicle manufacturers. By the end of 2020, the company's products have been matched with all passenger car models from A00, A, B, MPV, SUV, etc. At the end of 2020, the company built a high-standard three-dimensional factory building of 65,000 m², which conformed to the market demand for the rapid development of new energy vehicles and the requirements of intelligent factories. It has introduced advanced automation equipment from Europe, the United States, Japan and other countries, and initially formed an annual production capacity of 500,000 sets of power domain assemblies. In June 2020, the company successfully passed the globally recognized "ISO26262 Automotive Functional Safety ASIL D Level" standard process system certification, marking that the company has established a product development process system that meets the highest functional safety level, laying the foundation for the company's products to enter the world's first-class new energy vehicle companies. This year's orders have increased compared to last year.