Chow Tai Seng: With the further standardization of the industry operating environment, market share will concentrate towards leading enterprises.

In response to questions such as "What positive impact does the implementation of the new tax regulations on gold trading have on the company's business", Zhou Dasheng replied on the interactive platform that under the new gold tax regulations, as a member of the Shanghai Gold Exchange, the company has significant tax cost advantages compared to non-member units. In the long run, as the industry operating environment becomes further regulated, market share will shift towards leading companies with qualifications, scale advantages, and brand advantages, creating a more favorable operating environment for the company's business development.