Hello, I would like to ask why your company's first quarter report showed an increase in revenue but a rapid decline in net profit. What is the reason?

Wanji Technology: Hello. In the first quarter of 2021, the company's operating income was 176.9399 million yuan, an increase of 16.98% over the same period last year. The net profit in the first quarter was lower than the same period last year mainly because the company continued to increase its R&D investment in the first quarter of 2021. The R&D expenses for this period were 47.0793 million yuan, an increase of 84.20% year-on-year compared with the R&D expenses of 25.5582 million yuan in the same period last year; at the same time, the company received a software tax refund of 17.3885 million yuan in the first quarter of 2021, a sharp decrease of 80.32% from 88.3678 million yuan in the same period last year, resulting in a decrease in net profit in the first quarter of 2021 compared with the same period last year. The increase in the company's R&D expenses was mainly due to the continued increase in R&D investment in related businesses such as LiDAR, intelligent networking, and automotive electronics during the reporting period.