Hello, Secretary Dong, what percentage of your company's revenue is spent on R&D? How long is the product update cycle? In what aspects are the core technologies reflected? In addition to the existing customers, will you establish cooperation intentions with some leading domestic auto assembly companies in 2021? The overseas business is currently affected by the epidemic. How much impact has it had on the company's sales?

Keboda: Hello investors, (1) As of the third quarter of 2020, the company's R&D expenses totaled approximately RMB 160 million, accounting for 8.05% of operating income, an increase of approximately 25% year-on-year. (2) The company has leading technology in lighting control and other segments, and is in the first echelon globally. (3) Based on existing customers, the company continues to focus on and explore global market opportunities for important customers such as Toyota, BMW, Ford, Hyundai, and Kia. (4) We believe that after the COVID-19 pandemic in Europe and the United States is gradually brought under control, its market demand and production are expected to show a recovery growth. Thank you for your attention to the company!