In 2023, we will welcome everything new with full enthusiasm. At this beautiful moment of bidding farewell to the old year and welcoming in the new, on behalf of the company's board of directors and management team, I would like to express our high respect and festive greetings to all the staff and their families who are loyal and dedicated. I want to express my heartfelt thanks and best wishes to our customers, investors, shareholders and other allied partners, and friends from all walks of life who have long supported the development of XCMG's various undertakings.

We remain true to our original aspirations and keep our mission firmly in mind. Facing the impact of the once-in-a-century epidemic, the intricate external environment, and intertwined difficulties and challenges, we accurately recognize problems, respond scientifically, and actively seek changes. We adhere to the principles of "high quality, risk control, world-class, stable growth" development policy, comprehensively and pragmatically implement decision-making and deployment at all levels, pioneer and innovate, forge ahead with the trend, deepen reforms to stimulate endogenous motivation, and demonstrate good spirits in coordination with the upper and lower levels, achieving a steady and progressive development situation, consecutively ranked top three in the global construction machinery industry, and has been shortlisted for the "Top 500 World Brands" for four consecutive years, handing over a qualified answer sheet for high-quality development.

Last year, we kept in mind the entrustment to take on the great responsibility, and XCMG under the new mechanism radiated new vitality and charm of the times. The operating income has exceeded 100 billion for three consecutive years, and the overall development is superior to the industry. The construction machinery sector has successfully completed the reorganization and has been listed as a whole. XCMG Auto’s scientific and technological reform was accelerating; the reelection of the board of directors of the group and listed companies, and the appointment of senior executives were completed on schedule. With the continuous improvement of market-oriented and law-based management mechanisms, the capital market ushered in a new XCMG with high quality, high efficiency, high benefit and sustainable development.

Last year, our two main technological innovation and internationalization strategies broke new ground. The overseas market has grown significantly, the proportion of international revenue has increased by 15 percentage points, and the XCMG circle of friends has expanded to more than 190 countries and regions. "The world's first crane", "the world's largest mine car", "the world's largest tower crane" and "the world's first drill" have come out one after another, serving the construction of major projects around the world and benefiting a better life for mankind. The development idea of "high reliability, high added value, high-tech content, and large-scale" continues to refresh the new height of industrial development.

Last year, we united and worked hard to accomplish great things, and the development of construction machinery and heavy trucks has steadily reached a new level. The comprehensive market share of 13 types of products ranked first in China, the sales of new energy heavy trucks increased by 316% year-on-year, the five pillar industries continued to lead the industry, the revenue of ten strategic emerging industries increased by more than 30% year-on-year, and the core components basically realized all main engine product lines full coverage. The construction of a number of intelligent manufacturing bases such as basic construction machinery, high-end intelligent port machinery, and electric forklifts is progressing steadily.

This year, we have a lot of unforgettable things: the laughter at the four-year employee art festival, the skilled craftsmen and young experts sweating profusely at the skills competition, the 10th anniversary of the foundation of the Brazilian company, the off-line of the excavator in the Indian factory, the praise from customers at Bauma exhibition in Germany, and the busy figures on the Sichuan-Tibet line and African gold mines...

This has been an extraordinary year. These achievements and experiences are hard-won and precious, and all XCMGers make them! You are all the most beautiful strugglers on the way to the summit of XCMG! I salute you!

Those with solid confidence win. As the global technological revolution, industrial transformation and energy revolution accelerate, and the effects of national policies to stabilize growth and repair the real estate market become more prominent, we have set a clear direction and boosted our confidence. We firmly believe that the development of XCMG and the real economy has a promising future.

Those who are pragmatic and innovative win. In 2023, we will insist on building XCMG into a world-class modern enterprise, persist in seeking progress while maintaining stability, continue to implement the development policy of "high quality, risk control, world-class, and stable growth", and promote the industry upgrading and transformation to be "high-end, intelligent, green and international”, focusing on building a modern industrial system of construction machinery and commercial vehicles, building a beautiful homeland with wisdom and strength, and benefiting a better life for mankind.

Those who work together win. In the new year, as long as our more than 28,000 XCMGers worldwide work together for the common cause and shared dream, strengthen our confidence and work together, we will be able to carry the new mission better, take on new responsibilities, make new contributions in the new era and new journey, and thus leave the footprints of our struggle and realize the oath of our youth.

On the occasion of the Chinese Lunar Year of the Rabbit, there are still many XCMGers sticking to the front line of the market, research and development, production, and overseas. I would like to say to everyone: you are all hard-working fighters! Once again, I would like to extend my most sincere wishes to you and wish you and your family a happy new year, good health and happiness!

Thank you all!