How many R&D personnel does your company currently have? What is their educational background? How much R&D expenses have you invested in recent years?

Wanji Technology: Hello. The company is positioned as a high-tech company for smart transportation driven by technology and data. The number of R&D personnel continues to grow. Currently, there are more than 800 people, more than 50% of whom are postgraduate students, and more than 30 doctors. R&D personnel account for more than 50% of the total number of employees. The company adheres to the development concept driven by technology, continues to increase R&D investment in core business areas such as intelligent networking, and continuously improves its independent R&D and innovation capabilities. The R&D investment amounts from 2020 to 2022 were 154 million yuan, 242 million yuan, and 280 million yuan respectively. The R&D investment continued to increase, and the proportion of operating income in the three years increased from 9% to 32%. The company's high investment in R&D has gradually gained a corresponding advantage in the market competition and formed a full-stack service capability covering "car-road-cloud-network-map". In the future, with the implementation of intelligent networking policies and application scenarios, the company firmly believes that driven by technology, the company's strong investment will bring about the leading position of Internet of Vehicles technology and the rapid development of intelligent networking business. Thank you.