Did your company fail to produce and sell at full capacity in the first quarter? There are rumors in the secondary market that the price of silicon carbide has dropped by 30%. Is the company's performance under pressure? Investors in the secondary market have suffered serious losses. Many shareholders questioned your company's high-priced issuance, which resulted in investors bearing a premium and causing huge losses in the secondary market. How does the company view this? Finally, please answer your company's issue price of 82.79. How does the company's management view whether this valuation

Tianyue Advanced: Dear investors, hello! The company's operating performance in the first quarter of 2024 shall be subject to the company's public disclosure information at that time. According to the company's 2023 performance report, the company achieved operating income of 125,069.57 million yuan, a year-on-year increase of 199.90%. At the same time, the company maintained quarterly growth in 2023. At present, the field of silicon carbide semiconductors is in the early stages of application, and the company has always adhered to technological and product innovation to continuously increase its market share. The company's production and operation are normal, and capacity construction is progressing steadily. According to the 2023 global conductive silicon carbide substrate material market share calculated by Fuji Economic Report, an authoritative industry research organization in Japan, the company ranks among the top three, but there is still a lot of room for progress. The company has signed long-term supply agreements with some international first-tier manufacturers.