Mr. Secretary, what are the current achievements in the development of the company's 8-inch substrates?

Tianyue Advanced: Dear investors, hello! Since its establishment, the company has focused on the field of silicon carbide substrates, making breakthroughs, continuously cultivating internal strength, and constantly consolidating and improving its technical strength. The company has always adhered to the business philosophy of "advanced quality and continuity". In recent years, it has continued to increase its R&D investment. On the one hand, it has continued to increase its R&D investment related to the large-scale industrialization of conductive substrates to lay the foundation for the commissioning of the Shanghai Lingang project; on the other hand, the company continues to increase the R&D and technology iteration of large-size, high-performance indicator products, and continues to maintain its leading competitive advantage. So far, the company's 8-inch substrate development has progressed smoothly. As of December 31, 2021, the company and its subsidiaries have cumulatively obtained 98 domestic invention patents, 312 utility model patents, and 5 foreign invention patents, maintaining the company's dominant position in the scale of patent protection in the same industry, while improving its product technology innovation capabilities and continuously improving the company's competitiveness in domestic and foreign markets. The company has also passed the on-site audit of the automotive-grade IATF16949 system certification, and actively promoted customer certification of corresponding products. The national standard "Determination of Boron, Aluminum and Nitrogen Impurity Content in Silicon Carbide Single Crystals by Secondary Ion Mass Spectrometry" in which the company participated was issued on December 31, 2021 and will be implemented on July 1, 2022. The implementation of this national standard will help improve product quality adjustments and lead the direction of industry development. In the future, the company will always be customer-centric, continue to increase R&D investment, strengthen independent innovation, accelerate product iteration, improve product quality, increase production capacity, and expand market share, and strive to become a leading company in the international wide bandgap semiconductor industry. Thank you for your attention!