3) This price reduction may pose a challenge to independent car companies such as Wei Xiaoli, and Tesla has an obvious advantage in cost reduction. Since the price cuts, the user groups including Xiaopeng P7, G9, NIO ES6, ET5, Ideal L7, L8, BYD Seal, and even the price range of RMB have been shaken, especially the young car models. We have communicated with dealers, and some car companies have begun to discuss whether there will be continued preferential or subsidy policies for terminals. However, except for BYD, other companies in the industry are already in a state of low gross profit, and we have to wait and see for this profit.