To be honest, your company is not suitable for listing. You should keep a low profile and focus on developing semi-insulator substrates. With your current strength, I am afraid you have no advantages. The capital market has already abandoned your company.

Tianyue Advanced: Dear investors, hello! Since its establishment, the company has focused on the preparation technology of silicon carbide substrates. After more than ten years of technological development, it has independently developed 2-6 inch semi-insulating and conductive silicon carbide substrate preparation technology, and systematically mastered the design and manufacturing technology of silicon carbide single crystal equipment, thermal field simulation design technology, high-purity silicon carbide powder synthesis technology, defect control and electrical performance control technology for the growth of silicon carbide single crystals of different sizes, cutting, grinding, polishing and cleaning of silicon carbide substrates of different sizes and other key technologies; it has achieved the industrialization of 4-inch semi-insulating silicon carbide substrates in China earlier, becoming one of the few companies in the world that can mass-supply high-quality semi-insulating silicon carbide substrates; it has completed the research and development of 6-inch conductive silicon carbide substrates and started small-batch sales. The company maintains a leading competitive advantage in terms of intellectual property and technology accumulation, major scientific research and industrialization capabilities, products and market introduction. The company has national and provincial R&D platforms such as silicon carbide semiconductor material R&D technology, national and local joint engineering research centers, and national postdoctoral research workstations. It has a group of high-quality R&D personnel and has undertaken a number of national and provincial projects, including the National Nuclear High-tech Major Project (01 Project), the National New Generation Broadband Wireless Mobile Communication Network Major Project (03 Project), the National New Materials Project, the National High-tech Research and Development Program (863 Program), and the National Major Scientific and Technological Achievements Transformation Project. As of the end of 2021, the company has 415 authorized patents, including 98 domestic invention patents; since its establishment, the company has won a number of national and provincial honors, including the first prize of the National Science and Technology Progress Award. In 2021, the company won major awards including the "Sixth Batch of Manufacturing Single Champions List" of the Ministry of Industry and Information Technology, the Ministry of Industry and Information Technology's Specialized "Little Giant" Enterprise, and the Top 50 Leading New Materials Enterprises in Shandong Province. In the future, the company will always be customer-centric, continuously increase R&D investment, strengthen independent innovation, accelerate product iteration, improve product quality, increase production capacity, and expand market share, and is committed to becoming a leading enterprise in the international wide bandgap semiconductor industry. Thank you for your attention!