Shenma Power: The impact of tariffs on the company's business is limited in the United States.

Shenma Electric stated at the performance briefing that the American factory has completed the signing of the land, and is currently conducting the factory area planning. It is expected to start operation in 2027. The production capacity of the American factory will mainly serve local electricity grid customers in the United States. The company closely monitors changes in global trade policies, and will enhance its ability to withstand risks through supply chain localization and regionalization. The company also emphasized that US tariffs have limited impact on its business.