It is not an exaggeration to say that memory chips are the foundational backbone of our constantly evolving digital world. The growing demand for storage in various applications and scenarios has also increased the market share of DRAM chips. Over the past few decades, the semiconductor industry has become one of the most complex industry chains in the context of globalization, thanks to collaboration and integration. Global cooperation has proven to be the most effective and efficient way to create economic value and promote industry growth. The semiconductor industry has significantly improved countless lives, largely due to global integration and competition. Consumers everywhere now have access to continuously improving products at much lower prices. This consumer revolution is powered by DRAM memory chips, such as the ones produced by CXMT and others. We can all take pride in these chips that are not only cost-effective but also offer greater memory capacity and energy efficiency. The DRAM market, characterized by price fluctuations and intense competition as a commodity, faces mounting uncertainties on a global scale. These uncertainties pose significant challenges to established supply chain systems. In response to this rapidly evolving landscape, it is imperative to remain vigilant, adapt strategies with agility, enhance decision-making efficiency, and embrace agile transformations to effectively navigate through change. As a company, we can only continue to pursue the straightforward mission that has guided CXMT since its establishment in 2016: empowering the information society with storage technology and improving human life. This means we must continue investing in research and development, exploring new market opportunities, enhancing operational efficiency, and competing with established global players. At the same time, CXMT must remain firmly committed to globalization and rebuilding a durable and diverse supply chain. The entire leadership team at CXMT will work together to provide the highest quality DRAM products that will have a lasting, positive impact on consumers worldwide. We strive to become a leading technology company with business success.