Dear Secretary, Hello: With the industry developing rapidly, how is the capacity ramp-up of the company's Shanghai Lingang factory? Is the product yield rate steadily improving? Is there any progress in the research and development and mass production of eight-inch conductive silicon carbide substrates? Have any new orders been signed?

Tianyue Advanced: Dear investors, hello! The Shanghai Lingang plant held a delivery ceremony on May 3. With the stable operation of the Shanghai Lingang plant, the production capacity and output will continue to increase, and the company's market influence in the SiC field is expected to continue to expand. As one of the domestic silicon carbide substrate manufacturers with the most comprehensive technology and the best internationalization, the company continues to increase its R&D efforts, conducts intensive experiments in core technology fields such as crystal growth and defect control, and continuously breaks through technical bottlenecks to improve product yield. The company already has the ability to prepare and industrialize high-quality 8-inch substrates. It is also one of the few leading companies in the world that has achieved product iteration through independent expansion, and has core competitiveness. The company will actively deploy the industrialization of 8-inch products based on the development of the downstream market. The company's market expansion is good, and it has cooperated with many well-known domestic and foreign companies, including Infineon, a well-known international power semiconductor company, and Bosch Group, a well-known company in the automotive electronics field, and other global leading companies. With the development trend of global energy electrification and low carbonization, silicon carbide semiconductor materials and devices will play an increasingly important role. The company is optimistic about the long-term development potential of the industry, and strives to make technological breakthroughs and increase production capacity, continue to lead development, and enhance the company's long-term value. Thank you for your attention to our company!