This press release, so these are all in silent mode. Now let me do this reading of this broadcast. So we would like to invite all the investors to rationally understand the market. So after this, we will also have the QA session. Now, let's have with us the host to make the speech. Now, let's welcome. So hello, all the investors and shareholders, good afternoon. I am Jiang Qun from China Coal. Welcome you to participate in this 2023 Q3 press release. Here, I would like to thank you for this long-term care and support for China Coal. So we also have with us this CFO, Mr. Chai Qiaolin, and we also have the company's securities department and petrochemical business department, coal business department, electricity, and the new energy. Now, I'm going to report to you Q3's performance and the Q4's key management. Now, I'm going to say the data. These are all according to this Chinese accounting rules. First of all, I would like to say this first three quarters operation, and for this year, China Coal has stick to this seeking for development with stability to be maintained, to have this improvement of the efficiency of the existing market, and then try to improve the quantity and transformation. We have already scientifically organized this guarantee of the production and sales to improve the stability of the price, and to also deepen this lean management, to have already got this multiple measures to deal with the downward market. And then for this Q3, we have already exceeding our budget, and it has already laid a solid foundation for the realization of this annual targets compared with the same time last year. So for this production and sales of the main products have already kept the growth. However, they have already been influenced by this price decline. So for the profitability, is already, like, not as good as before. First of all, I would like to say this major production and operation data for Q3. So the first one is, we have already actively got this commercial coal, the production, and then for the commercial coal is up by 10%. And for this coal, that is actually having by 4.1%. And then we also have seen this up by 8.5%. For this, in-house coal production is 99.67 million. And then for this, buy-out commercial coal sales is 109 million, up by 5.7%. So for this commercial coal, its average sales price is about CNY 603 per ton. It's reduced by CNY 127 per ton, so down by 17.4%. For the buy-out coal is in average price of CNY 660 per ton, so it is down by CNY 152 per ton, highly efficient. So for this, major products, it's actually like polyolefin, is about 1.112 million tons, up by 1.6%. The sales is 1.105 million tons, it's up by 3.0%. Urea is 1.532 million tons, up by 18.6%. So for the sales is 1.704 million tons, up by 20.8%. For methyl alcohol is 1.457 million tons, up by 9.5%. For the sales amount is 1.465 million tons, up by 12.7%. For this ammonium nitrate is 0.41 million tons, up by 17.0%. And we also have seen this sales price per ton on average for this polyolefin is 6,914 CNY, and it's down by 600 CNY per ton, down by 8%. For urea, is down by 237 CNY per ton, down by 9% from the previous one to 2,408 CNY per ton. For this, methyl alcohol is 1,752 CNY per ton. It's down by 182 CNY per ton, down by 9.4%. For ammonium nitrate, is 2,386 CNY per ton. It's down by 9.7%. For this, coal devices, we have already got 8.8 billion CNY. For this, devices, it's increased by 13.3%. For the financial business, we have already got this revenue of 1.788 billion CNY, is up by 2.2%. Now, I'm going to introduce these major financial indicators. For January to September, we have already realized this revenue of CNY 46.852 billion, down by 10.9%. So we have already got this CNY 6 billion. I have to say that for this attributed to this shareholders of the listed company, is down by 13.7%, with a total of CNY 4.853 billion. And then for this, per share profit is 0.37 CNY, is down by 13.7%. So for this weighted average net asset profit rate is 3.45%, it's down by 3.54%. So now, I would like to say the reason why we have this reduced profit. You also can see that, for this 12.655 billion yuan is about this commercial coal that is produced by ourselves, so we can also see compared with last year, and it is down by like 496 million. So we also can see for this petrochemical, it is up by 690 million for this commercial one. We also have already got this major profit increase. At the same time, we also can see that with this influence of this price, so we also can see that it has already led to this 12.16 billion yuan. So it's also because of the market influence and for all those investment revenue is also having a significant decline. It is also about CNY 376 million for the management fee increases, so these are all the major reasons why we have this reduced profit. So the second thing is, I would like to introduce to you about this Q4's key work arrangements. So for Q4, we will strengthen our judgment about this market situation and try to have all the different works being done, and because since next year, we hope to have a very good preparation for that. The first 1 is we have to really manage this safety management and to stick to the threshold of that, and to guarantee that at the end of this year, we will have no accidents of safety. And the second thing is, we also would have this scientific arrangement of this organization of production to guarantee that all the different, schedule and timeline would all be guaranteed. The third 1 is to have this guaranteed supply of coal and electricity to answer to this national demand, to try to stick to this, key timing and a key area and extreme conditions guarantee of this, coal supply security, to give full play to this, central government's as this cornerstone functionality of the stability of the energy. The fourth one is to improve this quality of the operation. And then we also hope to have to deepen this, about this safe and, highly efficient utilization of coal, to try to organically to have this restructuring and for the industrial chain of coal, electricity, chemical and new energy. Then the 6th one, we have to understand and remember our starting point and the mission, and then to keep looking forward to the future, to have this good performance, to repay our shareholders and investors, and also make due contributions of this healthy development of the capital market. That's all for me. Now, let's come to this Q&A session. So I would like to welcome all the investors to propose questions. Thank you. So if you would like to propose questions for those participants, you would press Star and one. So for this online participants, you could also have the written interaction, or you could use this Raise Your Hand button to have a hand raised. If you want to propose a question, please first press Star and one. So for this online participants, you could also have this written question to be raised, or you could press this Raise Your Hand button to have this voice question. So now let's have 6704 investor to share with us his question. Thank you. Please tell us where are you from and what's your name? Hello, I am from CITIC, Huang Zhuchen. Thank you so much for your introduction. I also would like to congratulate on this Q3's performance. It's actually quite good. And with this slight increase, I also would like to say about this production and about the data, I have several questions. The first 1 is about this in-house production of the coal. I have to say that for Q3, for this overall production, compared with the last year and compared to Q2, we have about 0.2 million tons of increase. However, for the sales, it is actually quite a big increase. It's about 2 million tons. So for this production and the sales, you can see the sales increase faster. Why is that? And then in Q4, will it still be like keeping comparatively speaking, quite a faster growth? So this is also having something to do with about this Q4's arrangement of production and sales. And the next thing is, in the past few years, for this security supervision, it is also like a quite strict. Will it having any influence on us? Thank you. So for this question, I would like Mr. Cheng from this financial department to answer that. I am Mr. Cheng Lin from the Financial Department. For the question said about this, compared with Q2, and then this part of the growth is bigger than the sales. It's just about the Q3 for the sales and then for this stock, coal is actually quite a lot. So for this basic comparison, it is actually the sales is bigger than the production. Thank you. So thank you, Mr. Cheng. The next thing is for this production in Q4, does it have something to do with this influence of this security management, or are there any plan for this Q4? I would also have Mr. Tian from the Coal Business Department to answer that, because for this production, and we also have already considered about this stock and about this overall procurement. We also can see from this January to September, we also will like, consider all these, and then to say that according to early days of the year, we have about 125 million tons and above for Q4. Thank you. According to this annual plan. Thank you Mr. Tian, for the answering. No more? Thank you. Thank you, all the leaders, and thank you Mr. Jiang. Okay, thank you. We will have 6 3 2 2 investor to propose a question. Please tell us where are you from? Hello? Hello, Mr. Chai, Mr. Jiang, and all the leaders. Can you hear me? Yes, I can hear you. Thank you for the time. I am the researcher from CITIC. I really would like—from Citibank. I would like to congratulate on this good performance of Q3, and I also have several questions about operation data and about finance. I would like to talk about the number one. The first 1, I still would like to care about the cost, because you can also see that in the past, nine months, I can say that these are actually quite good performance of that. So I also would like to invite Mr. Cheng from Finance by 4% about the cost. Actually, we have our own features. So for Q4, we will also arrange some maintenance and repairs. So for next year, for this preparation of next year, we will lay a very good foundation for that. So for Q4, for this production, it is... So we also can see that this is actually quite like a high cost. We are also hoping it, like, because of for 2022, it's about CNY 320. So for this year, because for next year, because for all those wells, they're all like, with high production and high efficiency, so cost-wise, it's actually quite stable. So for next year's cost, we expect that it will not have this a big fluctuation, that's all. We think it will maintain stable. Okay, thank you. The second question is about finance. We also can see that. So we also have already seen this several decrease of that. What is the reason? And then for Q4, and for next year, and what is your looking forward to that? So for this question, it's just because for Q3 for this profitability of the company, because for our small companies under us, and then for this non-wholly owned companies, they have some fluctuations. So we may see some changes for this profitabilities. It still depends on this overall market for the profitability. I have to say that it is actually quite hard to say that non-wholly owned company. Can I ask that which companies could actually have a better performance to lay, to make it like a profitability, to have this lower portion, lower percentage? It's just about environment and about mining resources. Okay, got it. Thank you. And I have another question. The last question is, I also would like to ask you about this idea about the market. You also can see for this thermal coal and for Q4 and the next year for the sales company to ask for that. I'm Dong Bing from the sales company. So for Q4, and we would like to learn for that. And you can also see for Q4, it is actually having, like, the peak season, the overall consumption. So for the last three years of the data, we also can see the quarters, it is about like 11.9 higher, and 14.4 higher, and 17.1 higher for the first three quarters, comparatively speaking. So we expect for the sales, it is still having this recovery in Q4. So we also can see from this supply of the coals, we also can see that generally speaking, for this year's supply, it is still quite loose, quite sufficient, especially for our imported coals. This year we have this quite big growth. So from January to September, accumulatively, we have already got 347 million tons to be imported. It is up by 13%. So for the first nine months, for the production of the coals, according to statistics, it is about 3.4 to 4 billion tons. So it is actually up by 3%. So generally speaking, the supply is still quite sufficient. And for Q4, we think with this medium and long-term agreement to be optimized, and for this implementation of the high stock of the lower stream, and about this governmental departments, about the guidance of the coal policies, in the past few years, for Q4, surprise, it's still like a quite restrained. So I think this high peak of the quarterly ones have been lowered year by year. So for this year's Q4, it's still we have this top ceiling, and we have this overall bottom as this fluctuation. So for this overall fluctuation is weaker than before. So this is about Q4. And maybe for next year?... So for 2024, the whole situation, we also are, like, thinking, generally speaking, for 2024, when we guarantee the supply for this overall policy as a background for this guarantee of the supply. So the price of the coal is actually quite rational, and then to be based on this 2023 long-term and mid-term agreement signing. So for 2024, the overall demand and supply situation is actually from the balance to be this quite loose aspect. And then for the close demand increase, and about the release of that, and about the fluctuation, they will all have this fluctuation, but balanced. So the price of the coal will also be quite stable, despite some fluctuations. For the long-term agreement for 2024, they could still, like, play this anchoring functionality. Compared with 2023, the fluctuation is quite limited, so it is still maintained at this about CNY 700, around this level. Then we can also see for this kinetic coal, so for 2024's trend, so for Middle East and the conflict between Russia and Ukraine, and the change of this interest increase of US, and then for this, global indicators will still play a role. So for this, bulk commodities, high level fluctuation, and about this periodical and, long term, about port price and freight price being uncertainty, we think the stock price in 2024 will also have certain fluctuation. So we also consider that in the past few years, we will still have, like, this management of this coal price and about policy, supervision. So for this stock price of thermal coal will all be with lower flexibility, and compared with 2023, it will have a certain decline. For the fluctuation range of the price, we think it will still, like, come to a lower range of the fluctuation. Thank you. That's all for me. Thank you. Thank you so much for the detailed answer. I also would like to say this is very clear, very helpful. That's all for me. Thank you. Please wait a sec, I have something to add here. So for market judgment, I just represent the current prediction from the company perspective. This is not just our own perspective. Please keep rational, okay? So we are just like a company's prediction. It doesn't represent our, like, absolute judgment. So then, thank you so much from the management team. So this is a written question from this online channel. So the question is: For this in-house coal, what is the proportion? Is this about, like, 80 to 85% of this long-term coal supply? Thank you. Indeed. Hello, so I'm Dong Bing from the sales company. So previously, for China Coal, we are definitely implemented this mid- and long-term agreement signed and stipulated by this NDRC. So we will definitely sticking to this mid- and long-term agreement. And for this long-term agreement, for the proportion of this in-house production coal, it is still, like, according to this Chinese government's stipulation, it's above 80%. That's all for me. Thank you. Okay, thank you so much for the answer. The next question is, is it possible that I could also ask you to introduce about petrochemical and about coal's attribution to this net profit? Please give me some answers. So for all the different proportions contributed to this, different net profit, we haven't disclosed this information. However, for our operation, it's actually quite stable, so this is keep the same level of this interim report. So it has already been having a detailed explanation and disclosure in this interim report. So that's all for me. Thank you so much. And, he has to probe here for 2023, the target of the net profit, how much is that? Thank you. So this still depends on next year about this market fluctuation, because currently, we are also adjusting this, this year, for 2023, we are still adjusting. I have to say that for 2023, we just keep stable. For 2023's broadcast, let's just say that, do you need to have some other voice questions? Let's welcome the next, I want to ask with 1605. Hello, I'm Wang Xinyu from Ritz Capital. I have several questions for company leaders. As you {.......} it is shown that the profits has been greatly impacted, and I would like to ask, you know, for them, the capital's arrangement. And according to many forecasts, and in Q2 and Q3, the performance of the company is lower than our expectations. So in Q1... So the average price for coal is 57.6 CNY in Q1, and in Q2, it's 51.9 CNY. The decline has been higher than the market average. The question was also asked in the second, and in the first half of the year in a press conference. So for such a declining trend, and then you've provided more explanation. Yeah, I will ask my colleagues from financial departments to take your question. I feel the price and fluctuations, and apart from the declining of price in the market, for example, my forecast for Q3, the prices should be around CNY 509, which seems to be more reasonable. And then I would like to also have a check on the price and on a revised condition. Let me take your first question. About the price drop and higher than the market average. In Q3, as we know, there's a structural decline of the coals and on one hand, the market price is declining, and also the power coal structures, and it is under adjustment. So that's why the price, and it has dropped. Okay, thank you. And then what about, the price and, differences and port price and price at the port is CNY 5,500, and, when there will be such a price and a revised price structure? The, the port's price. Normally, these prices are now... We can then, when there are fluctuations, major fluctuations that take place in, in the market, and, as we know, apart from a shipment to the port, and, there are still additional fees are charged and, therefore, while prices and fluctuations and it's high, then the price and, were gonna be different from the port's price. So only when major fluctuations take place in, in the market, and, well, this price, be, revised. Well, Shanxi Kengkou price and is on a CNY 570, and then plus CNY 220, and shipment and shipping fee. Then only when adding this together, if the price reaches a CNY 790 at the port, and then the price would not be lower. Well, actually, such in a way of a calculations may not... These sales and expenditures was CNY 946, and then, but now we are seeing a huge rise in the sales cost, or administrative cost, and what's the reason? Well, on one hand, there are some byproducts and price and fluctuation this year, and then also, as for the ammonium nitrate and policy, there are some maintenance and work ongoing at the moment. Okay, thank you. Thank you for your question. Now, let's invite the next one to ask the questions, and it's the phone number ending 0, 0, 4, 3. Hello, everyone. I'm Chen Xianying from Huaxin Securities. I would like to ask the price and the cost of the project for polyethylene. Could you hear me? Yes. Well, let me take this question. Well, with some technical support, we have reduced the cost comprehensively. First, the coal structures are having adjusted, and many of the companies have chosen to use their own coals. Secondly, capacity is being increased, now the fixed costs have been diluted, and the energy consumption is being reduced. And thirdly, with the technical improvement and more on waste and were recycled and reused. And, and firstly, accessories and, and spare parts have been well prepared. Therefore, profit of polyethylene has maintained flat, basically. Well, what's the exact number for the data for profit margin of polyethylene? Well, during our presentation, so we have shared with you about the sales price, and you can check those data. Okay, thank you. Now, let's welcome the next speaker, and the next one to ask the question. Well, can you hear me? I have a question. In 2023, you planned to produce 125 million coals, and now it's approaching 1 trillion tons now. 100 million now, so what's the plan for Q4? Hello, I'm Tian Dong from the coal department. You have mentioned that the whole forecast or the plan for the productions is 1.25 trillion tons, and we will maintain this production goals and above 1.25 trillion without major fluctuations from the market. Well, because if I see normally Q4's production is lower than that of Q3, is that so in this year? Well, because maintenance were to take place at the end of the year, the productions that are in Q4 would be lower than previous quarters. However, maintain and achieving the 1.25 trillion tons of coal should be, should be no problem. Thank you for your answer. Now, let's invite the next one to ask the question. Please let us know your name and your institute. Well, Miss Wang Wei, can you hear me? Yes. Hello, leaders. In your annual report, you haven't mentioned about the equity, the reserves, coal reserves and data. It's in Shanxi Province and in Inner Mongolia. I would like to understand what are the reserves in different provinces, and also in the annual report, there are some eliminations and of, out, of the capacities are out of date and also building advanced capacities is in progress. For the cost of coal, will you be able to maintain or decline, make it or reduce it in the next three to five years? The first question, do you want to ask about the reserve and... Coal reserves? We have this close and our reserves and, well, because there are different mine areas and so... I would like to get some more detailed data. Well, what? And those coals and are fully owned and by our subsidiaries, and it's. We barely, we rarely use the way to calculate use your way to calculate. This is not the normal financial ways that we calculate the reserves. We need to consider about the sustainable development and of the company. Our capacity is not calculated in such a way. So there's no equity yield and used and for calculation. In. Well, we have seen the cost and of coal is declining in the past five years. The cost of for next year has not been mentioned enough. Therefore, I would like to get some ideas and about the cost of your plans and for the cost in the next 3 to 5 years. Well, thank you for your attention to our company. In the long term, our cost management and. It's a part that we are quite confident about. Well, if we look into the long term, the coal price is impacted by factors, different factors, and there's a rising labor cost and and also national policy changes, and whether there will be favorable policies or not. We can only say that the companies are now dedicated and to the long-term cost management and and also maintain the cost at a reasonable range. Thank you. Thank you. Now we have questions, you know, from online. Recently, in Xinjiang area, the production growth is about two digits and while in other areas, growth is only single digits. What's your plan in developing your business in Xinjiang province? Our company, currently, the contribution from the production in Xinjiang, it does not account for a major part. We plan to explore resources in Xinjiang. And currently, we have a small proportion of the productions that are completed in Xinjiang province and but it still takes time to increase in capacity. Thank you for your question, for your answer. And then now we have another question about the dividend. The question is, recently, our company has released about increasing the sharing. Well, what are the policies for dividends? Well, actually, our company is a holding group, and is increasing the stock shares. In the long run, we will maintain 30% of the dividend in it by cash. There's no change. And, while for the specific plans of dividend would be considered, and later, and but we will maintain at least a 30%. Okay, thank you for your question. Well, in the Q3 report... Do you see a possibility of an increase, a large increase of the provision in Q4? Well, so far, we do not see major changes in the provision for next quarter. If there will be, I will disclose that. Thank you. The next question is, you know, what's the cost of coal in the next 3-5 years? This question has been answered, and please refer to my previous answer. In the long run, we dedicated on the continuous cost management and maintain it at a reasonable range. Thank you. The next question is... What would be the investment directions, and, for CapEx of our company? Well, the signal is very poor at the moment. Thank you. The cash of the company is CNY 90 billion. How would you spend that? And why can you reduce the debts rate? There's about 60%, and, on a proprietary cash. And, you know, we have some dedicated, funds, and so 60%, you know, can be managed by ourselves. So currently, we do not have a plan to repay the debt, and, in advance. And also, complementary debt has reduced by CNY 12.1 billion compared with the beginning of the year. Next one. Please go ahead with your question. Hello, I'm Tina from Beijing, and I'm in Trust.... If this winter and it's a warm winter, would it have an impact on the sales of your, your product according to your historical data and experience? Actually, that's my question. Hello, I'm from Bing. Well. Please dial star key, and then press one. And online investors, and you can text your messages and or press hands up and to ask them to have a voice conversation. Now, the question is, productions and the sales ratio has been reduced quite a lot in September. So what about the condition in October? The decline of the productions and sales have declined, and and it's because of some accidents and then take place in the surrounding area. While in October, once those and external factors being removed and the sales and productions are well maintained stable. Thank you. Let's welcome the next one, and please name yourself and then your institution. Hello leaders. I have another question. We are also individual investors in the stock market. Therefore, it is very hard and to understand the performance and precisely. And previously, you have mentioned the provisions will what be reduced, and so would there be another provisions for CNY 5 billion or CNY 7 billion this year? Please and explain a little bit. Let's invite our CFO to take your question. Well, there's a supply side and a restructuring taking place in the company in the past several years. And then overall, the debt ratios and is at a very reasonable very good level. Well, as a company that has assets of CNY 340 billion, well, such a provision for me is normal. There won't be significant impact. Thank you. Thank you for the answer. Now, let's welcome the next one. Please, and by joining us to... Thank you individual investor. Well, about the debt. So will there be major changes in terms of the debt this year, debt ratio this year? We have a reasonable ranges, and we can see the debt rate is declining in the past several years. And we have an integrated management for the whole group. The debt rate is down 43%, and in my personal opinion, I feel it's very reasonable. And we also have a bottom line and that we need to insist on. We want to guarantee the safety of the operation of a company, so we have a lot of cash. Secondly, we'll arrange a proper CapEx and also prepare products and for the market. Apart from that, you can see the revenue of the company this month is more than CNY 200 billion. On the other hand, there are many projects ongoing. The loan rate, loan interest, is around 3%. So we are also doing a lot in compliance and... The loan interest is around 3%. And we have about CNY 10 billion cash. And we can have a renewal when it's approaching the expiry rate. And we have cash as a source of revenue, and also have sufficient cash to guarantee the proper operation of the company. Regardless of this year or the past years, companies have taken reasonable measures to guarantee a safe operation of our business and also meet the needs of the future. That is a result of balancing different perspectives. Thank you Miss Tai. I want to ask a question regarding buy, buyback. For each share company... Do you, would there be any difficulties to have an equity stimulus? Let me take your question. China Coal Energy Group is not buying back, so it's not enough. We are not buying back. There's no buying back plans at the minute, at the moment, and if there will be, we are going to disclose. I have a follow-up question. The H share buyback may have some problems, and will there be some legal issues and regarding the buying back for share stimulus? Our company do not have such plans and arrangement, so your assumptions and does not have a prerequisite. We have not considered about buying back from H shares. So company does not have such a plan to buy shares as equity stimulus. Thank you. Secretary, please share with us the way to ask the questions or if you need any questions for them. Secretary is not here. I have received a question. So which mines will generate enough major growth enough for the company in 2024? Well, this year... Anjialing and the East Open Pit have some quite large enough order and also the Dahaize project they have completed. So the major growth well comes from these 2 aspects. Our projects and ongoing will be completed and the construction will be completed at the end of 2025. Secretary, can you hear? Meeting secretary, you're here? Are you here? Yes please go ahead. Now, let's welcome the next one, next participant to ask a question. Dear leaders, I'm individual investor. I would like to ask that the coal chemical business, as a new business, then what products and what improvement have you seen from the advancement of the technology and also any room for efficiency improvement and the cost reduction? Can you share with us some new projects of the product and the chemical perspectives, and share with us on the latest application of new technology? Thank you. Hello, I'm Yan Wen from the Coal Chemical Department. Well, regarding the overall plans for cost improvement and efficiency improvement and cost reduction, our goal is to have a synergized development and of the hydrogens and the coals, and we are also center trying to leverage the by-product and improve the efficiency of projects and then prepare them to against the risk. And so the major goal is to reduce the carbon emission and also have a deployment on the emergence areas and develop those coal projects with our advantages. Well, in the past 3 years, with technology improvement, we have seen a significant cost reduction for 1 area. So do you see significant changes that will take place due to the advancement of technology in the coal or chemical sector? Or you want to see such a significant improvement? And I have seen some companies that have used green hydrogens and for a hybrid and mode. So such optimizations and what benefits can you see from such optimization? Hello, I'm Yan Wen. I'm from the Coal Chemical Department. We are developing liquefied projects, use PV and wind, and to make green power, and then, and to couple with an CO2, and then we can produce an green methanol. Thank you. Thank you for your answer. I don't have further questions. Thank you for the, for your, answer. Now, in the interest of time, let's ask the final question. In 2022, what is the pricing strategy for coal? Hello. I know every year, pricing strictly follows the instructions and for agreement and made an agreement and on contracts are made in by NDRC. So the price arranges and coverages, and then the effective years of the contracts, et cetera. All these have been identified very clearly in the instructions and of the contracts and signing by NDRC, and it is a cornerstone for market regulation. It is also a key areas and for governmental regulation. And our companies have strictly implemented the related policies from NDRC. In so far, we have not received any further notification from NDRC yet. So basically, the policies of 2023 will be continued and guarantee supplier and stable cost and prices. Well, thank you. Thank you for your answer. That concludes this session. If you have further questions, then you're welcome to contact at our PR department. And now let's invite the leader to conclude the discussion. Thank you, investors, and for your long-term support and attention to China Coal Energy. The 1 hour passed very quickly. If you have any further questions and on a technical or non-technical questions, you're welcome to contact our PR department and hope to see you next time. Thank you. Thank you dear leaders for your sharing, as well as and thanks to all the investors for your questions. And now we conclude this meeting. Wish you a good day.