Welcome to the 2025 Annual Results Presentation of Singamas Container Holdings Limited. First of all, I'd like to introduce you to our management of the company. Mr. SS Teo, Chairman and Chief Executive Officer. Ms. Winnie Siew, Executive Director and Chief Operating Officer. And Ms. Rebecca Chung, Executive Director, Chief Financial Officer, and Company Secretary. Okay, Mr. Teo will now present the company's annual results. All the financial figures in the presentation are in US dollars unless otherwise stated. Mr. Teo, please. Thank you. Good afternoon, friends, ladies and gentlemen. Thank you for joining us this afternoon. We will go through the presentation by looking into Singamas' corporate profile, industry dynamics, financial, and business review. As an established container manufacturer, leasing, logistics, and depot service provider, we currently operate five factories in China. Our total annual capacity is now at about 207,000 TEU of dry freight and ISO specialized container and about combined capacity of 21,000 units of tanks and customized containers. For leasing business, we currently own a fleet of about 108,000 TEU containers. Singamas is also operating eight container depot across seven major cities in China and one logistics company in Xiamen. This slide shows the ongoing upgrade of our Huizhou and Shanghai manufacturing plant, designed to enhance capacity and capability of energy storage system, ESS, container orders. At Huizhou plant, the upgrade is aimed at boosting overall production capacity. The facility has been equipped with advanced robotic and automation applications to meet the rising demand for ESS containers. At our Shanghai plant, we have expanded dedicated production lines for high-value customized containers, including battery energy storage system, BESS, containers, and AI data center containers. This has enabled elevated development of our integrated business. In year 2025, annual capacity for customized containers at Shanghai plant has increased to 7,200 units. The next three slides 7 to 10, cover our products ranging from traditional dry freight and ISO specialized containers to innovative customized containers, including customized containers for ESS, data center, car racks, housing, and more. We also provide a full range of container solution services. The core product of Singamas' customized container is ESS, Energy Storage System. This container facilitate efficient electricity storage and release, benefiting user by allowing electricity consumption at lower period. ESS container ensure stability in new energy power generation and are designed to withstand extreme condition for normal operation in challenging environment. Green Tenaga is our wholly-owned subsidiary in Singapore dedicated to both accelerating the journey towards net zero emission and carbon neutrality. Through its BESS solution, it form a pivotal element in our commitment to delivering comprehensive green energy solution worldwide. In 2025, Green Tenaga partnered with Singapore's A*STAR ARTC to co-develop an analytics-powered Energy Management System that enhanced battery health, energy efficiency, and intelligent sustainability energy solution for BESS. In our collaboration with Institute of Technical Education to co-develop an ESS training program for the youth in Singapore. With this program, Singamas contribute to its ESG goal through fostering new energy talent development, enhancing ESS safety standard, and supporting low carbon economic transition. Next, for our leasing business. Significant growth was recorded for the business this year. By the end of 2025, we own a fleet of about 108,000 TEU leasing containers, 18,000. Singamas is a major operator of eight container depot in China. We maintain strong tie with key port operators in the countries and foster relationship with major global shipping and leasing company. Our logistics service business focus on enhancing warehousing capability, integrating multi-modal transport resources, improving digital operational capabilities for efficiency, and collaborating with service provider to expand network coverage. This slide show Drewry's analysis of global dry freight container production and pricing trend of January 2026. For the year 2025, worldwide dry freight container production was 6.5 million TEU, far exceeding the initial market expectation. However, it has led to significant surplus worldwide. As the market is expected to regulate the surpluses in years to come, Drewry forecast the industry production for the year 2026 will decline sharply to 3.6 million TEU. On pricing, the average price of a 20-foot standard dry freight is expected to reach $1,710 for the year 2026, a year-on-year increase of 2.6%. This trend highlight a market transitioning from overproduction to cautious rebalancing. According to Drewry, long-term lease rate for all standard dry freight containers dropped sharply during 4Q 2025, and leasing rates are projected to remain subdued in the next few years. These forecasts from Drewry Q1 2026 provide a solid baseline for market stabilization. However, they were made before the major disruption from the Middle East war, including rerouting around the Cape of Good Hope, elevated fuel and insurance costs. These emerging factors, or rather disturbing factors, may affect short-term leasing rates and recovery trajectory in ways not reflected in the current forecast. That means the war in Middle East have created many issues, and this may affect what we forecasted. This chart shows Singamas' average selling price trend of twenty-foot dry freight container and related steel costs over the years. Despite better-than-expected global trade volume and ongoing new container vessel order, U.S. tariff and trade policy continue to create market uncertainty, leading to softer container demand in the second half of 2025. Consequently, the average selling price of 20-foot dry freight container dropped 12% to $1,752 in 2025. Meanwhile, Corten steel average cost dropped about 11%. Now let's move on to the financial review section. Revenue decreased by 17% to $481.5 million, due primarily to soft market demand and overproduction this previous year. Consolidated net profit attributable to owners of the company decreased by 40% to $17.4 million. Basic earnings per share was $0.0073 for the year, compared with $0.0143 in 2024. Net asset per share was $23.30 as at year-end 2025, almost the same as previous year. We have decided a final dividend of HKD 0.02 per share, proposed for the year 2025. Together with the interim dividend of HKD 0.03, total dividend for this year was HKD 0.05 per share, representing a payout of about 88%. Let's move on to business review section. First, manufacturing. It shows the performance of our manufacturing and leasing business. This segment achieved revenue of $447.8 million, which accounted for about 93% of our total revenue. Segment profit before tax and non-controlling interest was about $18.1 million. This slide show the breakdown of container units sold under different product categories and accordingly, the respective revenue generated. The table on the left show that Singamas sold over 147,000 TEU of dry freight container during the year. The pie chart on the right shows that the sales of this dry freight container made up 57% of the segment revenue, compared to 72% in the previous year. For customized container, more than 13,000 units were sold during this year. As global interest in solar energy grows, the revenue contributed by our ESS continued to increase drastically from 16% in 2024 to 33% in 2025. Leasing revenue accounted for 8% of the group total revenue during the year. Finance lease interest income was $4.1 million, up 47% year-on-year. While operating lease income was about $15.6 million, up 176% year-on-year. This slide shows the performance of our logistic service business. This revenue was $33.8 million, and segment profit before tax and non-controlling interest was $8.7 million. This slide represents our marketing operating strategy in the years to come. The political and tariff issue between U.S. and other countries, especially following the outbreak of the Middle East war, will impact our operating environment. We believe many carriers will once again choose to avoid the Strait of Hormuz and the Suez Canal. While this rerouting could initially stimulate demand in dry freight container market, the current sizable dry freight pool of 55 million TEU is likely to temper the overall impact, leaving demand for dry freight container unpredictable in the first half of 2026. At the same time, the ongoing crude oil crisis is expected to accelerate global transition to new energy infrastructure, which could translate into further growth in market demand for our ESS containers. Faced with unpredictable demand in dry freight container, we maintain strict cost control and cautious capital expenditure. On the maintenance side, our focus remain on enhancing safety and environmental protection of our plants. On the growth side, we invest on high-growth customized container project and short payback automation initiative. This balanced strategy keep us agile, cost discipline, and well-positioned to capture any new opportunities in this challenging market. The following appendices, they show our income statement and the data of our factory and depot for your further reference. That conclude my presentation.