Dear Secretary, Shanghai has announced that by 2025, pure electric vehicles will account for more than 50% of new vehicles purchased by individuals in Shanghai. 100% of buses, cruising taxis, official vehicles of party and government agencies, cargo vehicles in central urban areas, and postal vehicles will use new energy vehicles, and more than 50% of online taxis will use new energy vehicles. What aspects does the company's cooperation with SAIC New Energy include? How is the progress of the hub motor cooperation with SAIC? Thank you!

Asia Pacific Holdings: Hello, our company has cooperated with SAIC to develop the hub motor project in the early stage. The key to the project progress lies in the advancement speed and product plan of the vehicle manufacturer. Thank you!