Hello, Secretary Dong. The company's first quarter performance was surprisingly poor. With the rapid development of the industry, it has achieved such unsatisfactory results. I hope the company can explain to shareholders in detail the specific reasons for the decline in performance? At the same time, what is the forecast for future performance?

HUAYU AUTOMOBILE: Affected by factors such as the intensified competition in the domestic passenger car market, the decline in supply demand from major vehicle customers, and the continuous transmission of price reduction pressure from the industrial chain, the company achieved operating income of 37.021 billion yuan in the first quarter of 2024, an increase of 0.56% over the same period last year, and realized a net profit of 1.263 billion yuan attributable to shareholders of the listed company, a decrease of 11.93% over the same period last year; the net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 1.085 billion yuan, a decrease of 7.87% over the same period last year. The company will continue to do a good job in strategic advancement, daily operations, and other work, and strive to maintain the stability of the company's operating performance. Thank you for your attention to the company.