Driven by targeted capital allocation and an increasing focus on research and development, Jiayao’s enhancement strategy for the e-cigarette division has become a top priority. This investment approach reflects our comprehensive strategy to strengthen our market position and technological capabilities, demonstrating our thoughtful engagement with international markets and our awareness of the significant growth potential and competitive dynamics abroad.

This positioning strategy enables Jiayao to seize emerging global opportunities while maintaining agility in an increasingly competitive environment. To pursue sustainable competitive advantage, we continuously monitor market intelligence to identify and respond to emerging industry trends. Coupled with ongoing investments in R&D, we foster a culture of innovation and facilitate rapid product development cycles. Concurrently, Jiayao is systematically expanding its distribution infrastructure to ensure comprehensive market coverage and enhance product accessibility.

Our strategic framework will continue to emphasize prudent resource allocation while maintaining innovative solutions, including new product development initiatives and strategic partnerships with established industry players. This dual focus on innovation and collaboration positions us favorably for sustainable growth in a constantly evolving market landscape.

With our robust financial resources and well-established operational framework, Jiayao is uniquely positioned to accelerate the achievement of its core business objectives. Our meticulously crafted, targeted approach in the e-cigarette sector revolves around three strategic pillars: accelerating dynamic product innovation, optimizing our product portfolio comprehensively, and executing orderly market penetration initiatives.

These comprehensive strategies underscore Jiayao's commitment to capturing greater market share in the e-cigarette industry, as we remain focused on maximizing shareholder value through the pursuit of long-term sustainable growth opportunities. We will concentrate our resources and expertise on innovating our proprietary e-cigarette products to meet the diverse needs of international markets, while expanding our sales network through partnerships with global distributors in overseas markets.