Infineon's quarterly report stated that the company and Tianke Heda's supply accounted for 20% of Infineon's total procurement volume, and the figure will reach around 40% in the next quarter. Does this mean that the company's production expansion is going very smoothly and that there will be explosive growth?

Tianyue Advanced: Dear investors, hello. At present, the company's production expansion is going smoothly, and its production capacity and output are increasing rapidly. Since the first quarter of 2022, the company has achieved quarterly revenue growth for four consecutive quarters. The company's delivery progress to customers including Infineon is good, especially the company's Shanghai Lingang factory will start product delivery in May 2023. It is still in the stage of rapid production ramp-up, which will effectively guarantee the smooth delivery of customers' long-term and short-term orders. According to the current market demand, it is estimated that the annual production capacity and output of 300,000 conductive substrates originally planned for the Lingang factory will be achieved ahead of schedule, which will provide a solid foundation for the smooth delivery of the company's long-term orders. At present, the demand for silicon carbide in downstream application fields maintains a strong growth trend, and the company's downstream customers have clear expansion plans, which will drive the long-term and sustained growth in demand for the company's products. The company will continue to forge its technical core and build product competitiveness and leadership. Thank you for your attention!