Okay, and thank you for standing by. Welcome to the China Yuchai International Limited First Half 2025 Financial Results Conference Call and W ebcast. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be the question and answer session. To ask a question during the session, you need to press star one one on your telephone keypad. You will hear an automatic message advising your hand is raised. To redirect questions, please press star one one again. If you wish to ask a question via the webcast, please use the Q&A box available on the webcast link any time during the conference. Please be advised that this conference is being recorded. I would now like to hand the conference over to our first speaker today, Kevin Theiss. Please go ahead. Thank you for joining us today, and welcome to China Yuchai International Limited's Conference Call and Webcast for the first half of 2025, ended on June 30, 2025. Joining us today are Mr. Weng Ming Hoh and Mr. Choon Sen Loo, President and Chief Financial Officer of CYI respectively. In addition, we also have in attendance Mr. Kelvin Lai, General Manager of Operations of CYI and Chairman of MTU Yuchai Power Company Limited, or MTU Yuchai Power. Before we begin, I will remind all listeners that throughout this call, we may make statements that may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words believe, expect, anticipate, project, target, optimistic, confident that, continue to, predict, intend, aim, will, or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning the company's operations and financial performance and conditions, and are based on current expectations, beliefs, and assumptions, which are subject to change at any time. The company cautions that these statements, by their nature, involve risk and uncertainties, and actual results may differ materially depending on a variety of important factors, such as government and stock exchange regulations, competition, political, economic, and social conditions around the world and in China, including those discussed in the company's Form 20-F under the headings Risk Factors, Results of Operations, and Business Overview, and the other reports filed with the Securities and Exchange Commission from time to time. All forward-looking statements are applicable only as of the date they are made, and the company specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in the press release, made during today's call, or otherwise in the future. Mr. Hoh will provide a brief overview and summary, and then Mr. Loo will review the financial results for the first half year, ended June 30, 2025. Thereafter, there will be a question and answer session. For the purposes of today's call, the 2025 and 2024 financial numbers are unaudited and presented in RMB and US dollars. All financial information presented is recorded using the IFRS accounting standards as issued by the International Accounting Standards. Mr. Hoh, please begin with the statements. Thank you, Kevin. We are pleased to report that our earnings growth in the first half of 2025 outperformed nearly every on-board market category. Revenue increased by 34% year-over-year to RMB 13.8 billion, or $1.9 billion. Gross profit rose by 30.3% year-over-year to RMB 1.8 billion, or $257 million. Operating profit increased by 42.3% year-over-year, and profit to equity holders of the company rose by 52.2% year-over-year. Earnings per share were 65.8% higher year-over-year to RMB 9.75 or $1.32. This growth in our financial result was due to the sale of our light-duty, medium, heavy-duty engine, our new LED product, high-horsepower engine, and solutions we provide to our customers. Our sales exceeded initial unit sales in our market categories and demonstrated significant year-over-year sales growth in the first half of 2025. According to data from the China Association of Automobile Manufacturers, truck and bus unit market sales excluding gasoline and electric powered vehicles in the first half of 2025 declined by 2.6% year-over-year, while our combined truck and bus unit sales were up by 38% year-over-year. Our overall truck engine sales increased by 44.3% year-over-year compared to CAAM truck and bus unit sales declining by 4.8%. Our truck engine sales unit sales growth was led by a 40.7% year-over-year rise in the important heavy-duty truck segment. We contrast to the negative 2.8% year-over-year growth in the heavy-duty truck market unit sales according to the CAAM. We experienced strong growth in the fifth deemed market truck engine segment or heavy-duty truck engine segment, which is mainly a suitable group to get a new sale for a heavy-duty price later. Our overall bus engine unit sales in the first half of 2025 achieved 8.9% year-over-year growth compared with CAAM bus unit sales of negative 7.5% year-over-year. Our heavy-duty bus engine unit sales increased by 20.4% year-over-year contrasted with a 13.5% decline in CAAM heavy-duty bus unit sales. Our off-road market unit sales increased by 17.5% year-over-year in the first half of 2025, led by an engine sales increase of 31.5% year-over-year in the marine and power generation market. Data centers require significant amounts of reliable electric power to function, and backup sources of electric power are essential to guarantee uninterrupted data center operation. This demand has generated robust growth in our power generation operators in the first half of 2025. Yuchai, particularly from Yuchai's Marine and Genset Power Company Limited and Rolls-Royce Power Systems Initiative, has started the second phase cooperation and development of the MTU Yuchai Power venture. Included in the second phase will be the mtu Series 4000 oil and gas generation engines. These are expected to begin shipment in late 2025. Also, by adding mtu 2000 model engine and Yuchai branded V6 diesel engine in the near future, our power generation business is advised to service additional customers and application requirements. Engine unit sales for Industrial Association rose by 27.2% year-over-year, and engine sales for other country economies experienced modest unit growth in the first half of 2025. The successful sales growth of our broad range of engines is a testament to our research and development expertise, our manufacturing proficiency, and large service network. In addition to improving our engine products and automotive technologies, R&D is developing additional new energy products, including those using alternative fuels such as hydrogen, methanol, and ammonia combustion technologies. Despite an increase in total R&D expenses in the first half of 2025 to $37.1 million, including subscriber costs, R&D represented 4% of revenue in the first half of 2025 as compared to 4.5% of revenue in the first half of 2024. Our strategic alliance produced a year-over-year increase in profit propelled by higher sales and profit results from MTU Yuchai and improved operations as well across other ventures in the first half of 2025. As we are well established in the large Chinese engine market, the new international markets are important drivers of future sales growth. Our nearby markets in the ASEAN region are prime areas for penetration. Particularly, Yuchai Machinery Power System (Thailand) is now ramping up production of a range of diesel engines for on and off-road application. Through a comprehensive strategy from cooperation, salary, technology licensing, component supply, and related support programs, we are further deepening our market penetration into the growing ASEAN market. The company paid a cash dividend of $0.50 per ordinary share on July 7th, 2025, highlighting the company's confidence in future revenue, profit, and cash flow generation, and to show our commitment to building shareholder value. Cash and bank balances were RMB 7.8 billion, or US$1.1 billion, as at June 30th, 2025. With that, I would now like to turn the call over to Mr. Choon Sen Loo, our Chief Financial Officer, who will provide more details on the financial results. Kelvin is in the room after. Thank you, Weng Ming. Now, let me review our unaudited six-month results ended June 30th, 2025. Revenue was RMB 3.4 billion, or $1.9 billion, compared with RMB 10.3 billion in the first half of 2024. The total number of engines sold in the first half of 2025 increased by 29.9% to 250,396 units, compared with 192,723 units in the first half of 2024. The increase was mainly due to higher sales in almost every engine segment. The company's truck and bus engine unit sales rose by 38% year-on-year in the first half of 2025, despite a decline of 2.6% witnessed in the commercial retail markets, including gasoline and electric power retail, as reported by the China Association of Automobile Manufacturers (CAAM). The company's truck engines were up 44.3% year-over-year, compared with negative growth of 1.8% in truck market unit sales as reported by the CAAM. In particular, heavy and light-duty truck engine unit sales were 40.7% and 82.1% higher year-over-year, in contrast to CAAM market unit sales growth of negative 2.8% and 1.3% respectively. The company's heavy-duty bus engine sales rose by 14.4% compared to CAAM bus market unit sales reduction of 13.5%. Overall, bus engine unit sales increased by 8.9% in the first half of 2025, in contrast to a 7.5% decline in overall market unit sales as reported by the CAAM. Engine sales to off-road markets increased by 17.5% year-over-year in the first half of 2025. Engine sales to the marine and power generation markets drove the off-road segment growth with a 31.5% year-on-year increase. Sales for industrial applications rose by 27.2% year-over-year in the first half of 2025, while engine sales for agricultural equipment experienced modest growth in the first half of 2025. Gross profit increased by 30.3% to RMB 1.8 billion, or $257 million from RMB 1.4 billion in the first half of 2024. The increase was mainly due to higher sales volume. Overall, gross margins were 13.3% in the first half of 2025 compared with 13.7% in the first half of 2024. Other operating income increased by 27.2% to RMB 231.4 million, or $30.9 million, compared with RMB 174.1 million in the first half of 2024. The increase was mainly driven by the recognition of technology licensing and the highly reputed or value-added services. Research and development (R&D) expenses increased by 21.1% to RMB 476.7 million, or $56.6 million, compared with RMB 393.6 million in the first half of 2024 due to higher experimental and personnel costs. Total R&D expenditures, including capitalized costs, were RMB 551.12 million, or $77.1 million, representing 4% of revenue in the first half of 2025 as compared to RMB 453.2 million and 4.5% of revenue in the first half of 2024. Selling, general and administrative (SG&A) expenses increased by 27.4% to RMB 962.5 million, or $134.5 million, from RMB 755.12 million in the first half of 2024. This increase was mainly due to higher personnel expenses compared with the same period last year. SG&A expenses represented 7% of revenue for the first half of 2025 compared with 7.3% for the first half of 2024. Operating profits increased by 42.3% to RMB 631.7 million, or $86.9 million, compared to RMB 436.9 million in the first half of 2024. The operating margin was 4.5% in contrast to 4.2% in the first half of 2024. Higher operating profits and operating margins were achieved by increased sales and gross profits combined with lower growth in operating expenses. Financial costs decreased by 21.2% to RMB 32.2 million, or $4.5 million, from RMB 40.9 million in the first half of 2024, primarily due to lower turnaround and less deal discounting. The share of financial results of the associates and joint ventures grew by 42.6% to a profit of RMB 51.4 million, or $8.6 million, compared with RMB 36.1 million in the first half of 2024. The improvement was mainly driven by higher profits at MTU Yuchai Power Company Limited. Income tax expense increased by 13.4% to RMB 116.2 million, or $15.2 million, compared with RMB 102.4 million in the first half of 2024. Net profits attributable to equity holders of the company increased by 52.2% to RMB 365.8 million, or $51.1 million, compared with RMB 240.3 million in the first half of 2024. Basic and diluted earnings per share were RMB 9.75 or $1.36 compared with RMB 5.38 in the first half of 2024. Basic and diluted earnings per share for the first half of 2025 and the first half of 2024 were based on the weighted average of 87,518,332 shares and 40,858,290 shares, respectively. We will now go over some key financial highlights as at June 30th, 2025. Cash and bank balances were RMB 7.8 billion or $1.1 billion, compared with RMB 6.4 billion at the end of 2024. Trade and bills receivables were RMB 12.7 billion or $1.8 billion, compared with RMB 8.8 billion at the end of 2024. Inventories were RMB 4.7 billion or $655.4 million, compared with RMB 4.7 billion at the end of 2024. Trade and bills receivables were RMB 11.9 billion or $1.7 billion, compared with RMB 8.5 billion at the end of 2024. Short-term and long-term loans and borrowings were RMB 2.2 billion or $304.6 million, compared with RMB 2.5 billion at the end of 2024. I will now turn the call over to Kevin for a comment or Q&A session. Please note, some officers of China Yuchai International Limited are remotely calling into the conference call. This may result in a slight delay in providing answers to some questions. We apologize for any inconvenience and thank you for your patience. If you would like to ask questions in Chinese, please kindly translate your own questions into English before turning to management for answers. Before we start the Q&A, we would also like to announce that the management will be attending the forthcoming UBS Conference on September 1st and September 2nd and Bank of America Merrill Lynch Conference on September 8th through September 10th. If you are interested in a one-on-one or small group meeting, please contact the salespeople at the banks. Given the tight meeting schedule and travel plans, we will not be able to accept outside meeting requests outside of the conference venues. Now, operator, we are ready for questions. Thank you, dear participants. As a reminder, if you wish to ask a question, please press star one one on your telephone keypad and wait for your name to be announced. To withdraw a question, please press star one one again. Alternatively, you can submit your questions via the webcast. Please enter or compile the Q&A queue. This will take a few moments. Now we're going to take the first question. It's from the line of Yiming Liu from Guotai Haitong Securities. If your line is open, please ask your question. Thank you. This is Yiming, an analyst from Guotai Haitong Securities. Thank you for having me, and congratulations to your very outstanding results for the first half. My question is on the capacity. Do you have any plan to raise your capacity for the daily with the MTU or for the GYMCL entity? Thank you. Good morning, Yiming. This is Kelvin Lai. Regarding the capacity, we have sufficient capacity on the MTU joint venture side. The only bottleneck is the supply of the components, which are limiting our production at present. If we can have sufficient component supply from Germany, then we can increase our capacity there. For our main operation, the Yuchai operation is the GYMCL. Currently, the capacity is about 2,000. We have an extension plan, and it will be ready by end of Q3 or early Q4. We will have some more extensions, about a 30% increase of the capacity by end of this year. Next year, we can enjoy more. Thank you. The other question for me is on the guidance for the full year. Do you have any guidance on the unit sales for the whole year 2025? Specifically, do you have any guidance for the data center related generators and how many units of that will be sold for the whole year 2025? Thank you. Sorry, Mr. Liu. As a policy, we do not provide guidance. Thank you. Okay. All right. Thanks. Those are all my questions. Thank you. Thank you. Now we're going to take our next question. The question comes to the line of Don Espey from Shah Capital. Your line is open. Please ask your question. Thanks for taking our questions. We have a few questions, actually. First question, does Yuchai have 10% or higher market share in long-board engines for data centers? Also, do you foresee this market share holding or improving going forward? Go on. This is Kelvin again. Thank you for your question. Our market share on the long-board engine, or for the data center application, our market share is well ahead, 10% of the global market. We believe we can maintain a similar share, at least in the next year. Great. Thank you. When do you see Yuchai's net return surpassing 5% of sales from 2.6% in the first half? Can you talk about initiatives to accomplish this objective? There are a lot of factors that will determine the return of sales, Don. There are too many to actually try to pin it down. For now, we are not really prepared to actually announce the target date for the return of sales. As I said earlier, we do not provide any guidance. Okay. Thanks. That's all for us. Thank you. Thank you. Thank you. Dear participants, as a reminder, if you wish to ask a question, please press star one one on your telephone keypad. To ensure everyone has the opportunity to ask a question today, please limit yourself just to two questions. We are going to take our next question. The question comes to the line of Wei Shen from UBS. Your line is open. Please ask your question. Thank you for taking my question. The first question is about the ASP increase. You did mention that you may consider raising ASP for data center engines this year in the second half. Any color on this? Thank you. Okay. I think we have not really, let's say, increased the average selling price for data center market this year. As I said, I think we really produce the engines, and we sell the engines to our OEM customers. The OEM customers in turn will determine the actual price of the final product, which is the sensor that is sent to the end customer. Yes, our engine price is classified, but, yeah, it is classified. Sorry, could you, you mean for the first half or the second half? For the first half, we do not provide guidance. Again, we do not provide guidance. Sure. My second question is, you did mention you would like to expand from engine making to generator making. You will expand the business. Could you give us some color on this? How will this translate into revenue growth and the profit per unit growth? Now, our core business is related to sell engines. We only do genset if any customers want us to do it, right? The reason for this is we do not want to compete with our customers, the real customers, which is the OEM. By using the old genset, we completely will have to, right? Unless the end user has a really specific need for it, otherwise, we would rather not do that. Our customers, which are OEM, deal with it. We do not. Thank you for those who may. A big revenue gain from this. Okay. Thank you. For those who may, I'm going away from UBS. Thank you. Bye. Thank you. Now we're going to take our next question. The question comes to the line of Ying Xu from CICC. Your line is open. Please ask your question. Thank you. I'm Ying Xu from CICC. My question is that there are two questions from me. The first question is about the on-highway engines. We see from this year, Yuchai has a strong market share in both truck and bus engines. I wonder the reason why the company has so strong market share in the on-highway engines. Also, we see the rapid growth of new energy adoption in China's commercial vehicle sector. I want to know how our company sees this phenomenon and could this negatively impact the company's engine business. This is my first question. My second question is that the company holds a significant amount of cash in hand. Can we expect any economic capital operation sense or higher shareholder return in these growths in the near future? Thank you. Okay. Let me answer the first question. I have at least a second question and then to our CFO, whether to answer. Regarding the truck and our highways market, the truck and buses sales, our truck engine sales, it's much better than last year. This is mainly because we have some new customers, and from Q1 and Q2, OEM, they start using the Yuchai engine for their heavy-duty engine blade. The second reason is also because of our introduction of the yield gas engine. OEM also highly adapted for the trader markets in the Chinese domestic market. These are one of the major reasons. Thirdly, because of the export. The exports are one of our major contributions to the growth in the first half of 2025. Regarding the bus segment, we're similar. Export markets are one of the biggest major drivers of the growth. Ultimately, we have also been quite successful in the heavy-duty buses segment. For those buses, the 16 L and 11 L or 12 L above, this is where our major drive on the growth of the first half. Thank you. I will take one of the second questions. Thank you for your questions. Yes, our cash and bank balances increased quite handsomely compared to last year, during the end of last year. The cash will continue to deploy in our CapEx, including our operational maintenance CapEx. You may notice that our R&D expenses also increased. That will continue to use our CapEx in this aspect. In terms of whether any specific plan in the future, we will not make any comment at this point. I see. Thank you. Thank you. Now we're going to take our next question. It comes to the line of Andy Li from Daiwa Capital Markets. Your line is open. Please ask your question. Hi. This is Andy Li from Daiwa. Congrats on the results. I just want to ask around the POWERGEN topic. I just quickly want to clarify, the 2,000 capacity from Yuchai brands, which you mentioned just now, is it 30% up? I want to clarify that. What's the execution right now? I understand you have some target or capacity shared in the last call. Is there any update on how's the execution there? What about the latest negotiation activities with the clients right now from the data center point? Hello, Andy. It's Choon Sen. Thanks for the question. First of all, regarding the Yuchai brand, I mean our own in-house brand and our battery, currently, the production of 2,000 units is already the highest we can do. We confirmed that there will be about 30% increase or more than 30% increase by end of this year. At this stage, the majority of our high-horsepower engines is going to the data center. In the first half of 2025, there's about 650 engines for the data center. The rest is going for other applications as well. This is our current plan. Because of the strong demand of the market on the data center projects, I think no matter how much energy increase, it's difficult to meet up the current demand. Also, this is also risky operation as well. We are more in a more conservative way, and that means through the expansion plan of our factory. We will see how the projects go on in the year 2026 and beyond, and that's before we are any planning for current expansion. Right. To add to that, I mean, the 2,000 capacity that we have for high-horsepower is not entirely for data centers. There are other applications as well that this is useful. A large portion of it was done in data centers. Okay. Thank you. What about the latest auction or negotiation with your data center clients? What do you mean? The price and color, I remember the last time you mentioned it's quite competitive as well, and they do the auction and the pricing quite cost-effective as well. yes. Yes, what was the dynamic there? Yeah, that's right. Okay. I think for buying, but for pursuing customers, the magnitude of issues, they will ask for tenders. It's not tenders to be the assets. They will ask for developed suppliers to supply, right? A lot of this is done through our OEM. The OEM, we could probably participate in tenders through more than one OEM, because OEM is going to be the customer, and the OEM will sell on-site to the end customer. I understand the competitor, yeah, they're still very competitive in terms of the pricing, because it's expensive right now in the marketplace. A lot of pricing for these final products on the data center is determined by our customers. Got it. Okay, thanks. Thank you. Now we're going to take our next question. It comes to the line of Gustavo Ferraz from Global Securities. Your line is open. Please ask your question. Yes. Hello to everyone. I want to first say congratulations to the team. The results published this morning are amazing. You guys are doing a terrific job. I don't think I recall seeing these numbers, so strong numbers, in a conference call for a long time. I guess my question is, I thought, or in my mind, I thought that where was going, where was the transform? Did you hear the product? We can't hear you. Excuse me, Gustavo? Yes? Excuse me, Gustavo. Your line is breaking up. We cannot hear you. Please, can you repeat your question again? Can you hear me now? Yes, we can. Okay, sorry about that. I just, I first want to congratulate the team for what's going on. The numbers published this morning are terrific, so congratulations to everyone. My question is the following: I thought that what was transforming China Yuchai was the power generator business unit. When I look at the release this morning, it's amazing to read that most of the business units are 30%+ up this year while the industry is flat. There's something else going on. I just want to understand if you guys find a specific reason for beating the market so badly this first half of 2025. Thank you. This is one. Right. Thanks, thanks, Mr. Ferraz. Basically, in the case of vehicle engines, the key mark is the OEMs, our customers, OEMs that can progress. It means we're actually winning the market share in the market, and also, they are willing to use more of our engines, as opposed to our competitors' engines. That one is for the reason that that happened. Of course, it didn't happen just overnight. We have been cultivating the relationship for quite a couple of years, right? The other, what we call a significant driver, is the export. Our exports have been growing very well and have been increasing by double digits over the last several years and still continuing to improve. The good thing about export sales is that you do not need to sell them the national stick or Euro trade compliance, which is basically, Euro price is below, simply because the areas, the countries that we export to are all the countries in the world except North America and the European market. All right? That one does give us a little bit better margin as you understand. The third driver of course is this year, the data center. There's been a huge growth in data centers. Those competitors who participated in this segment are also seeing very good demand. You have a couple of things going forward, and we all came together this year. Thank you very much. Thank you. Thank you. Now we're going to take our next question. Just give us a moment. The question comes from the line of Jiahao Wang from Jiahao Securities. Your line is open. Please ask your question. Thank you for the opportunity and congratulations on your very outstanding performance. My question is, we have a very booming demand for overseas data center markets. Does the company have any plans to expand overseas, including a direct resale to overseas internet brands? Currently, we are working with our OEM, and they are our major customer. They cover the domestic market and overseas market as well. We will maintain the best practice. They work through our OEM for both domestic and overseas markets. There's also some change recently from the Chinese internet, the major player. They are approaching us direct and through phasing the order. We will also, and they are accepting the request and the work goes with them. This is not all the orders come from, but now these orders are still coming from OEM. Thanks. Thanks. I'll answer your question. I mean, the bulk of our sales has gone to the domestic market. The domestic market is actually quite strong. We have been focusing more on the domestic market, and very little has gone to the export markets, especially Southeast Asia like Malaysia and Singapore. We have some, but not as many. Okay, thank you. Thank you. We are going to take our next question. The question comes to the line of Jackie Yu from CGS International. Your line is open. Please ask your question. Hi, thank you for taking my question. My question is about the capacity of the GC engines. I want to first clarify on the number of 2,000 units capacity. Could you clarify if this is the overall capacity for the daily part plus the in-house part? Also, could you share for the in-house part, what is the bottleneck for the capacity, please? Thank you. Okay. The 2,000 units that you rented is for the overall high-horsepower plus four engines, but the bulk of it would be applicable to the data centers. Right now, the event has a concrete demand with customer expenses. It's in the, we just restart the testing capacity, which is in the initial capacity. That is something that we're working on right now. Once we restart the machining capacity, we should be able to increase the volume for the volume. This is for a very tight time. For the MTU side, it is basically the supply of the components. The capacity is there, but the components which come from overseas, certain countries, there's limited capacity there in town. They have to allocate the components, and we will be trying to get as much as we can. That's the bottleneck. Thank you. My follow-up on the capacity of the daily part. From what I understand, MTU is supplying the, this German component is being supplied to both the China factories and also in other countries. Could you share if this is a concern about the end market, ASP? How much is the difference between the ASP in China market versus overseas market? When the Japanese operate, because of the joint venture agreement, there's some component that we need to fulfill from the German operation. That's why we are not allowing them to localize those items. The more reasoning is that those items, being in sufficient time, have been a bottleneck for the whole operation. Those items are not only an MTU supply to China, but they will also supply the worldwide operation of the MTU. That's why our allocation for the Chinese operation is somehow very limited. That depends on the overall demand of the global market. There will be some parallels here for the German operations and also for the U.S. operations as well. That's why we are always in the context. The different identity has to all go there in the book. Thank you. Thank you very much. For sure, you take a question from the webcast. The question is, any plans to raise the dividend payout and repurchase? There's no plans on any repurchase right now. In terms of dividend, I mean, our set records in terms of dividends is quite, quite good. Although we do not have the formal dividend payout policies, it would be like if you continue the same practice going forward. Dear participants, as a reminder, if you wish to ask a question, please press star one one on your telephone keypad. Alternatively, you can submit your questions via the webcast. The speakers will just give a moment to our participants. Excuse me, Andy, would you like to ask a question? Just for a moment. Now we have a question from Jackie Yu from CGS. Your line is open. Please ask your question. It's a misconnect. Sorry about that. Thank you. Please give us a moment. I have a question from Andy Li from Daiwa Capital Markets. Your line is open. Please ask your question. Hi, can I have a follow-up on the JV profit? I remember last quarter, last result you mentioned there was another session in your JV that was just recently even. How is that segment and other segments performing this first half? Okay. I think that segment that was brought to us last year, it's actually, I mean, getting a little bit more profit this year. It's still not very material yet. I'm actually content to develop that. The bulk of the profit from daily associate accounts is coming from the MTU Yuchai joint venture. Okay. Got it. Thank you. Thank you. We have now reached the end of our question and answer session. I will turn the call back over to Mr. Hoh. Please go ahead. Okay. Thank you all for participating in the conference call. We wish each and every one of you a good sale, and we look forward to speaking with you again. Thank you. This concludes today's conference call. Thank you for participating. You may now all disconnect. My apologies, we just got one more question come through. Are you happy to take it? Yes, please. Lovely. Just give us a moment. The question comes to the line of Martin Zhang from HD Capital. Your line is open. Please ask your question. Hi, Martin. Thanks for taking that. Thanks for taking my last question. I just want to clarify that for the data center engine shipment, like, how many have you shipped from Yuchai? How many, it was shipped, from the MTU YP for the first half of the year? Oh, Martin. At the first half of 2025, we had our own operation in Yuchai, and then they shipped 850 units for the market. The MTU joint venture is the 350. Total is about 1,000 altogether for the first half. Are they owned for the data center, or you? Oh, okay. Great. Thank you. It's for data center applications. Okay. Very clear. May I get a breakdown for domestic and overseas? I think you mentioned that for Yuchai, they're mostly for domestic. How about for the MTU JV? For the MTU JV, and then there's a little bit more here for the export through our OEM, Q main, and then for the domestic market. Yeah. Okay. Got it. May I ask you about your order visibility? I think we still are expanding capacity. Are you still fully booked this year? If you take a new order, when will be, like, the fastest time that you could deliver? We actually had a full on hold for this year for our Yuchai brand and also for the joint venture brand. For the next year and 2026, the joint venture. Okay, thank you. Thanks very much. Thank you. This was our last question for today. We now would like to turn back to Mr. Hoh for any closing remarks. Okay. Thank you. You did that area. Thank you all. We will speak to you again on the chat soon. All right. Thank you. This concludes today's conference call. Thank you for participating. You may now all disconnect. Have a nice day.