Hello Mr. Secretary Dong, I would like to ask, if we compare the conductive substrate and the semi-insulating substrate, is the semi-insulating substrate technology superior to the conductive substrate? In terms of usage, which substrate has a wider application?

Tianyue Advanced: Hello, dear investors! Semi-insulating and conductive products have many similarities in the main production processes. In essence, both products are silicon carbide single crystals. The different requirements of the two products for the electrical properties of the materials are the main reason for the differences in production processes. During the growth of the single crystal, the introduction of external impurities is strictly controlled to obtain extremely high-purity semi-insulating substrates or directionally doped conductive substrates. From the perspective of downstream applications, semi-insulating substrates are mainly used in RF device fields such as 5G, radar, and national defense; conductive products have broad application space in smart grids, electric vehicles, rail transit, and new energy grid connection. Thank you for your attention!