[6 -> 7] you
[63 -> 87] Mr. Yao, Mr. Yao, can you hear me? Yes, I can hear you. Okay, okay. Say a few words. Let's test it again. Huh? I said, say a few words. Let's test it again. Yes, I can hear you. Can you hear me? Okay, okay. I can hear you. Then mute it.
[90 -> 97] Wait for my voice.
[140 -> 141] you
[257 -> 281] Hello? Hello? Can you hear me? Can you hear me? Can you hear me? Can you hear me? I'm sorry. I'm sorry.
[282 -> 310] How much is my Wi-Fi? How much? How much? Wait a minute. How much? Wait a minute. Wait a minute. Wait a minute. Wait a minute. Wait a minute. Wait a minute. Wait a minute. Wait a minute. Wait a minute. Wait a minute. Wait a minute. Wait a minute.
[408 -> 415] Ladies and gentlemen, good morning.
[421 -> 440] Okay, okay, sorry.
[440 -> 464] This conference will be divided into two parts. The first part will be presented by the management of the company to introduce the performance of the full-year performance in 2022. The second part will be a Q&A session. There will be English voice translation in the venue. Video participants can choose to watch in Chinese or English. At the same time, I would like to invite the participants to mute their phones. Thank you.
[467 -> 491] Before the conference starts, allow me to briefly introduce the management team that will attend the conference. We will have online meetings with Mr. Zhu Gongshan, Chairman of Xiexing Technology Board, and Mr. Zhu Yufeng, Vice-Chairman of Xiexing Technology Board. The management team will be led by Mr. Lan Tianshi, Chief Executive Officer of Xiexing Technology Board,
[497 -> 526] Mr. Yang Wenzhong, Chief Financial Officer. Mr. Jiang Liming, Chief Scientist. Mr. Hu Zeyi, Senior Vice President. Mr. Fan Bing, Founder of Xiexing Mining Company. Mr. Zhu Gongshan, Chairman of the Board of Directors, will now speak for us. Mr. Zhu.
[542 -> 543] So I just...
[578 -> 580] Hold on a second. There's a technical issue.
[679 -> 703] Okay. Speaking of technical issues, let's move on. Now, let's welcome our chief financial officer, Mr. Yang Wenzhong, to review the 2022 financial part of the company. Welcome, Mr. Yang. Hello, everyone. I'm Yang Wenzhong.
[703 -> 732] I'd like to briefly talk about the financial data for the end of December 31st, 2020. We were all online last night, so I'll just briefly talk about it. In 2022, our company, Choice, did pretty well. This year, we sold about 3.5 billion units, which is 1.13% more than last year's 1.6 billion.
[732 -> 761] The interest rate is still relatively high. This year, the interest rate has gone up to 48.69% compared to 33% last year, which is more than 10% higher. The shareholding profit of the company is about 161%. Compared to last year, it was only 51%, so the increase is about 200%. The basic profit of each share is now 59.98 RMB, which was 20.68 last year. After the board meeting this year,
[762 -> 772] We also said in the announcement yesterday that we would like to invite the shareholders' meeting to review and approve each share, and we will send a share price of HK$0.06.
[776 -> 803] Side下來這一張呢我們簡單的看一下是我們主要呢線下來就兩塊業務了第一個是光伏材料裡面涵蓋了那個我們的多金龜跟龜片的業務在裡面右邊的那個呢是光伏電站因為我們380本身還有一些電站在國內跟美國的我可以看到的是主打呢還是在光伏材料業務裡面就我們的收入呢還是主要是在光伏材料業務
[803 -> 827] In comparison, e-commerce has a sales volume of about 2 billion yuan. In terms of profit, e-commerce has only earned more than 30 million yuan, which is not a small number. The profit margin of e-commerce is quite high. As you can see, the profit margin of e-commerce is about 52%. The material margin is about 48%. But the main part is the material.
[830 -> 846] In this slide, I would like to show you more data. As I said, we divided the materials into two parts. The main part is the turtle meat, and the bottom part is the turtle fillet. In the turtle meat, we also divided it into two types. The first one is the turtle shell.
[846 -> 874] The other one is made from newspaper, which is called the Bangzheng Gui. As you can see, in 2022, we produced about 45,000 tons of particles. The Bangzheng Gui is 59,000 tons. Compared to last year, our particles have increased by about five times. Five times, already. More than 530 percent. The Bangzheng Gui has increased by about 46 percent.
[875 -> 901] Last year, we produced about 93,900 tons, which is about 96% more than the previous year, which is about twice as much. As for the price, we have also announced the price this year. Our sales price is about 228.5 yuan, and we have also directly announced the毛利率, which is about 183 yuan.
[901 -> 925] Should I have been squeak in the time? Yeah, well, I'm on that time. Yeah, I'm not that guys. Yeah, well, I saw that shit and she didn't beat it. I'll tell you about your 22 That's a good changing us. We're men. We'll do很多的资本开支的都是一些既改造出来的啊,会骗销售量呢? 我也增加了版就21左右就相对来说跟场能还是相符合的总是满场美消的概念
[929 -> 955] In the past, many people have been concerned about what our asset debt ratio is like. In the past few years, I have heard a lot, because we are a Hong Kong stock, and we use relatively conservative international exchange rates, so some processing methods may seem to think that our debt ratio is relatively high. So this time we made a special simulation on the right hand side. I will introduce it to you later.
[956 -> 981] This is one of the approaches that some A-share companies have adopted. We, Apple, have adopted this approach to Apple. But after all, Hong Kong shares have some requirements. So we have taken out both data to show everyone. First, I will talk about the concept of total assets. Last year's total assets were around 640 billion. This year's total assets went to around 855 billion at the end of the year, and increased by 33%.
[981 -> 998] This is one of the main assets. Our business is getting bigger and bigger, and so is our headquarter. Our production base, including Xuzhou, Lushan, Inner Mongolia, has been doing this for a long time. So the use of the main assets has been increasing.
[998 -> 1021] Last year, we had around 3.1 billion yuan. This year, it's around 4 billion yuan. You might think, why is it so big? You can imagine that we have done a lot of business this year. We have sold 3.5 billion yuan, and we have built a lot of production bases. So you can understand the increase in total assets.
[1021 -> 1044] Later I will introduce the one on the far right so that you can understand better. We have also analyzed here that many people are concerned about whether the cash flow is tight or not, how much interest is there, and how much debt is there. You can see that our total debt in one year is only about 9.8 billion yuan, and more than 3.8 billion yuan in one year.
[1044 -> 1069] Compared to last year, we have seen a little bit of growth. However, we have seen a decrease over the past year. So, if we use the traditional Hong Kong stock trading method on the left, we have fallen from 49.6% last year to 46.8% this year. However, I will now introduce the one on the far right.
[1069 -> 1095] This year, we have added a no-repayment bill for books and receipts until December 31, 2022. What is the concept? When we deal with accounts in Hong Kong, for example, when we receive some receipts, we still treat it as a debt. Even though we have a bond, we still treat it as a debt. But we see that some companies in the A-shares have cut off the receipts with a bond.
[1096 -> 1118] So you can see that the added value is very low. So we use the same method to do a simulation to show it. You can see on the far right, if I use the simulation method, the total assets of 8.5 billion yuan will become 6.98 billion yuan. The total debt from 4 billion yuan will become 24.3 billion yuan.
[1118 -> 1147] So you can see that it is much healthier. You can see that the debt accumulated in the first year has decreased a lot. And there are some changes in the next quarter. The most important thing is the point at the bottom right corner. If we use that method to calculate, it will become a debt ratio of 46.8 to 34.8. I personally feel that 34.8 is a very healthy company in terms of a manufacturing contract.
[1147 -> 1174] I think China is a very healthy company. So this is what we want to do this year to let everyone see. But because of some accounting standards requirements, we may not be able to adjust the schedule. But we will try to use some methods to put it in the annual report, in the announcement, so that investors and shareholders will be more aware of our situation. So I will spend a little more time to explain this. Okay, I will stop talking about financial data.
[1175 -> 1201] Later, I will ask Mr. Nan to introduce the company's situation, and then I will answer your questions when we get to the Q&A. Thank you. Hello, everyone. Because of some technical problems, Mr. Zhu didn't connect to the line. Now he is online. Let's invite Mr. Zhu Gongshan, Chairman of the Board of Directors, to support us. Mr. Zhu.
[1214 -> 1241] Hello, can everyone hear me? We can hear you, we can hear you. Hello? We can hear you, Mr. Zhu, we can hear you. First, I would like to thank all of our investors for their continuous support and help to Xixin Technology.
[1242 -> 1270] Our team, President Yang, has already reported on the situation in 2020. I would like to build a foundation for the team to work hard. Last year was a very successful year for our company. It was a very meaningful year. It was also a very promising year.
[1271 -> 1300] 20 years, 30 years, almost a year of building technology. We went from 10,000 to 20,000 to 100,000 to 200,000 to 300,000, all the way. And I saw the history of our national network, which is more than a decade of time. In the world, in the technology of cloud, cloud bed and FBI,
[1301 -> 1330] No other company has ever built one. On the other hand, I'd like to invite everyone to take a look at our enterprise. We are a fully digitalized enterprise. For example, in Los Angeles, we are in a different enterprise. We even have our own control center in Xuzhou, Jiangsu. We are also a new technology signature for our enterprise. At the same time, we have completely achieved artificial intelligence, supply and marketing,
[1330 -> 1357] and digital communication. In this context, the second is to reduce the risk of a large-scale chemical attack. To ensure safety, it plays a decisive role. The fourth is to control the cost, energy and all kinds of consumption in the process, and to completely digitalize it. In the past few years,
[1358 -> 1387] We need to improve the level of self-management of the anti-terrorism infrastructure. In the enterprise, we need to speed up the construction of digital factories by increasing the number of vice presidents, and we need to improve the efficiency. Through the management of our third party, as well as the leadership team of Nanjing Telegraph Group, we need to keep innovating and making changes. One is in technology, and the other is in public service.
[1388 -> 1416] One is on the system, and the other is on the quality of the food. We are working hard to improve it. Specifically, we will keep you updated on this. I think, although we have achieved some results, but as you can see from our stock market performance, everyone is worried that the price will fall.
[1417 -> 1447] and we believe that the situation will get better in the future. In general, the demand for the global optical market is very high. As you know, and I also suggest that you invest in it, take a good look at it. By 2024, our P-type batteries will basically all stop. Starting today,
[1448 -> 1478] China.
[1479 -> 1508] We have to understand that a company's quality and cost are the market. Quality is our life. We have to treat quality as our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life. Quality is our life.
[1509 -> 1537] The top three growth periods will be in the next one to two months. One is to expand our capacity. The second is through capital, we will stop the crisis. The third is to cooperate with China. The fourth is to increase our efforts through the EU, Taiwan and other countries in the region.
[1538 -> 1567] We are accelerating the deployment and construction. The main thing for us is to stick together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need to work together. We need
[1567 -> 1595] Because now the global and overseas gold and silver regulations are probably really satisfying the market needs, less than 30 to 40 million tons. The regulation of the real overseas market is completely serious. So we are now determined, one is for everyone's strong influence overseas. On the other hand, we will do our best to meet the overseas market.
[1596 -> 1625] As we all know, we can't put an egg in Vietnam. We have to work together. Because our technology team is not complete. Our technology has now been recognized by our industry and by the next customers. It has also been recognized by the whole society, especially in the age of carbon emissions. That is to say, in the age of carbon tax,
[1625 -> 1655] We have some characteristics. From the current situation, we really appreciate the reduction of carbon emissions of LVR. The State Department has just issued a document stating that all central enterprises must use the products purchased by the State Department to reduce carbon emissions. In Taiwan, we have also introduced carbon tax to reduce carbon emissions.
[1655 -> 1683] The price is rising. I visited President Xi Yanlongji on the 21st. He said that the price of new silicon is 90% higher than the price of old silicon. President Xi Yanlongji said that. Why? Because my talk, my technology,
[1684 -> 1712] Because there are technology companies, and I think that technology companies should be the first to make products. This is what our Li Chengguo, Mr. Li, as well as our Zhonghuang and Shuanghao have said. At the same time, they took the initiative to speak up, to speak up for us. That is to say, we look at the situation from the perspective of the next phase. Everyone's detection, skill detection, and the global mission to use new languages
[1713 -> 1743] We have joined forces with South Korea, and we have reached a common goal and mission. We have joined forces to reduce carbon emissions and move forward. In addition, last year, we have been working harder on every aspect of our work. In addition, we hope that in the end, we will try our best to promote our company's listing.
[1744 -> 1774] The second is the return of our shares, the return of our new technology shares. We are doing everything we can to speed up the process. We will speed up the process even more after we receive the investment. You all know that. We were very fast in the beginning. Last year, we had a 1230, 930 report, and everyone won.
[1774 -> 1802] I would like to take this opportunity to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you. I would like to apologize to all of you.
[1803 -> 1832] I'd like to report to you that the future of the CCC is the future of Guangfushi, Guangfushi 10 years and 20 years. Among them, there are two CCCs. The CCC, we basically have a problem with the sea level, but we are working closely with Xi'an Longji and Zhonghai to study the real Shanghai oil.
[1832 -> 1861] to set up a special class and set up a joint research institute. Rongji took a recommendation and let us try it out. I believe that in the near future, Penghui will launch CCJ. Once CCJ is successful, our next step will be to reach the level of 30-35, which will be further improved. At the same time, I believe that we should focus on technology.
[1862 -> 1891] After the New Year's holiday, we will set off again. I am confident in leading my team. In the future, we will continue to work hard for everyone. This year, we will continue to work hard. I also hope to welcome all investors, leaders, and experts to our base for inspection guidance.
[1892 -> 1919] and give us valuable suggestions. Based on your suggestions, we will make every effort to make progress and progress. Thank you. Thank you, everyone. Thank you, investors. Thank you. Thank you, Chairman Zhou, for your wonderful speech. Next, let's invite Mr. Lan Tianshi, the chief executive of Lianxi, to review the company's business prospects and future business strategies for 2022. Mr. Lan, please.
[1926 -> 1946] Hello, shareholders and investors. 2022 is an extraordinary year. My name is Nan Tianshi, and I will be representing Xiexing Technology to report and summarize the business of 2022. I should say that since 2020, Xiexing Technology
[1947 -> 1977] The entire light supply has entered a year of light supply cost reduction. So, as you can see from this table, the light supply started in 2020, and the entire installation volume has increased rapidly. And other energy is basically a slow-down process. The entire light supply, including wind energy, is rapidly replacing the new energy market.
[1977 -> 1995] Today, we are relying on the second generation of crystalline materials, which is what we have been reporting to you today, to fly from 2020. We are flying from the 0.6 generation to today's 1.5 million tons per month generation.
[1996 -> 2021] Based on the second generation of turtle-based materials, we have not only laid out the two base stations of P-type and N-type, which use 100% of the silicon turtle, but also the extension of turtle-based materials, including our projects such as white-egg-black. In the process, we continue to lay out the second generation of turtle-based materials
[2021 -> 2050] This is our Xinhua semiconductor. Since 2017, everyone knows that our boss, Mr. Zhu, has started to layout our calcium carbonate. In seven years, we have been able to announce to investors that we have made very good progress in the layout of calcium carbonate.
[2051 -> 2061] As you can see, from the first quarter to the fourth quarter, the rate of progress and growth of silicon turtles has gradually increased.
[2061 -> 2085] are all very fast. In 2021, our monthly supply was about 1,000 tons. By December 2022, we had already reached 10,000 tons per month. By the end of the first quarter of 2023, we had actually reached the 150,000 tons per month period.
[2085 -> 2115] As you can see on the right-hand side of the table, we have almost covered 80% of our future production capacity of 400,000 tons. So, in the process of our future customer supply, we have been working with each other to make more efforts in low-carbon construction. Actually, today I am very honored to introduce to you
[2115 -> 2145] and the advantages of the traditional Siemens method. It can be said that from 2020 to today, we have spent a total of three years in the process of modularization and standardization. We can see that because the temperature has dropped from 1,100 degrees to 700 degrees, and the conversion rate has increased from 12% to 99%, the whole process has actually changed a lot.
[2145 -> 2175] In the whole process of improving the Siemens law, the traditional metal flow process has been replaced, and the return reaction generator has been replaced. In the traditional gas recovery device, the conversion rate of 99% has now been completely replaced. In the post-processing process, because of the high fluidity of the silicon tube and the automation of the silicon tube in the packaging process, this process has also been replaced. The whole process has dropped from six main processes to three main processes.
[2176 -> 2203] Today, we also have some very important news. Investors have been asking, what is the contrast between your cost advantage and your cash cost and manufacturing cost? Today, we use the cash cost and manufacturing cost of Jiangsu Zongneng in February 2023 as a model to report to you. The cash cost of Jiangsu Zongneng in February 2023
[2203 -> 2225] to 37.29 yuan, which is 19% lower than the same price in Xinjiang. In other words, our performance will be better in the same price range. In terms of production cost,
[2225 -> 2250] In February, our manufacturing cost reached 43.73 yuan, which is relatively low compared to our own low-cost production capacity in Xinjiang's 60,000 tonnes of steel. At this point, in fact, we have also dropped by 17%. Through this picture, we can see that the cost of cash and manufacturing in the process of scaling up, modularizing, and continuous iteration
[2250 -> 2270] We are confident that the cost of the construction of the new base, including the construction of Sichuan and Baotou, will be better than today's performance.
[2272 -> 2294] In this table, we can also see the performance of Xixin Technology in terms of the quality of the particles in 2022. The green line is the performance of the PPPW metal impregnation, which is less than 3. We can see that from Q1 to Q4, our progress rate is from more than 10% to 80%.
[2295 -> 2323] In the process of improving speed, including the 601, 602, and 603, we have completed a comprehensive iteration of the entire color density link. Three bases are improving the quality at the same time. We also continue to reduce the single-pronged grid. In January to March 2023, you can see that the green has dropped from less than 3 ppb to less than 1 ppb. You can also see that
[2324 -> 2336] to 70%. I can also give you a summary. Less than 3 ppb and less than 1 ppb represent the current level of the entire
[2336 -> 2360] Currently, in the steel-concrete system, less than 15 ppbw of metal is a solar energy level of 1. And the level of less than 1 ppbw that we are showing you today is an electronic level of 1. So we can see that when the crystal is coming to the N-type era, our quality has been fully prepared.
[2360 -> 2388] In our customer experience process, our customers are also very happy to see that in less than a year's time, Keligui has quickly climbed from the level of solar energy to the level of electronics, and has made a great contribution to the life of them, to the efficiency of conversion, to the improvement of efficiency, and to the reduction of overall cost. This year, we have selected five customers from our downstream,
[2389 -> 2408] Q1 to Q4, you can see that the overall market share of Q1 to Q4 is very low. As we increase the volume of Q1 to Q4, each customer's dependence on Q1 to Q4 increases rapidly.
[2408 -> 2436] Currently, 150,000 tons to 100,000 tons only account for 15% of the market share, but from 2% to 15%, we can see from this graph that the number of top 5 factories in our downstream areas are increasing rapidly in terms of the amount of silicon tubes used. In fact, many users have already told us that we can buy stick-shaped tubes from other factories,
[2436 -> 2464] its low-carbon properties and high-quality performance. We hope to buy our silicon through Xixin Technology. The analysis of the price of silicon can be seen very clearly in this picture. As the cost of fossil fuels increases, in the northwest, northern China,
[2464 -> 2492] including our Xinjiang and so on, the low electricity prices in Yunnan continue. Now we are gradually saying goodbye to the low electricity prices. Three years ago, we may have a lot of electricity prices in the provinces still at 0.3 yuan per degree on the far left. But now our average electricity prices have basically climbed to 0.4 to 0.45 yuan. And the electricity prices in Jiangsu are still between 0.6 to 0.65 yuan. The cost of electricity per degree is increased by one cent.
[2492 -> 2514] In fact, the advantages in terms of cost are expanding for the concrete tube. As we can see in this picture, as the price increases, the difference in the ratio of power consumption in the concrete tube and the brick tube can show the advantages of total cost in the process of the concrete tube.
[2514 -> 2539] will be more obvious. We use a relatively simple number to explain. For example, the final price of a degree of electricity has risen by 1 cent. The total cost of the silicon tube has risen by about 1.5 cents. As for the steel tube, it has risen by about 5 to 6 yuan. This is the advantage of the cost of silicon tube performance in the future.
[2540 -> 2565] What else will we provide to our downstream customers? In fact, in the future, we will have more solutions to provide real-world services to our downstream customers. In the future, we may cancel the packaging part. Because of the high fluidity of the silicon,
[2565 -> 2588] In this process, we can help our downstream companies
[2588 -> 2613] SAP data chain, to the seamless connection between QC quality, and then through our three-dimensional storage, AGV packaging, AGV transportation, to AGV head material, to fully realize a process of data and objects being synchronized. And this process, in the packaging process, because it has a breaking process,
[2613 -> 2620] Because the size is different in the cracking process, the difficulty of realization may be much greater than that of silicon.
[2621 -> 2648] In addition, in the future, we will also show you that even in the future, we don't even need to add additional materials to the concrete. Because of the strong liquidity of the concrete, this is the technology that we will jointly develop for downstream in the next generation. Whether it is side-by-side material or CCD, the system of final additional material will use the narrow pipe to pass through the valve and through the vacuum to directly reach the target furnace platform,
[2648 -> 2670] and the process of loading, transporting, and lifting is the most time-consuming process in the entire garbage system, because it requires personnel to monitor, control, and operate. If this process is canceled, then it will affect the user experience of the downstream particles.
[2670 -> 2696] will be more effective in terms of cost advantage. At the same time, CCC will also be connected to CCZ with 1 plus 1 is greater than 2. Because CCZ's continuous additives require a continuous and precise feed rate. In this process, CCC can also achieve the perfect additives and pull-in system of CCZ through precise additives advantage and high fluidity.
[2700 -> 2714] This picture shows the high-quality and high-fluidity of silicon in the future development process of satellite technology.
[2714 -> 2740] In the process of pulling in, the stability of the electrode and the continuous straight-pulling increase the life of the single-stove, the single-production, and form the effect of 1 plus 1 is greater than 2. The N-generation is actually most concerned about two factors. The first is its high finger life, and this high finger life requires
[2740 -> 2770] The raw materials provided by CCZ are, firstly, the metal impurities, secondly, the reduction of the resistance, and this requires the concentration to be as precise as possible in the same solution, in the same pot. CCZ can provide a continuous straight-pulling technology at the same height, which can make the resistance of the resistance to 0.1,
[2770 -> 2799] and this is largely due to RCD. This is also the technology that Xixin Technology has been developing with our business partners for several years. It has now entered the middle stage. In terms of carbon footprint, as our chairman just mentioned, what other differences will there be in the future? The biggest possible difference is our carbon footprint.
[2800 -> 2809] to 100%.
[2810 -> 2836] of carbon emissions has dropped from 620 to 400. So it has dropped by about 28%. At the same time, we have also obtained the data on the lowest carbon emissions, 37, from all the data released by the French Energy Office. This is far lower than the data from WACC-57, which is currently the second lowest. In the future, the domestic layout will also provide
[2837 -> 2859] In the Inner Mongolia region, we are planning to set up three bases. The first base, Baotou, has reached 60,000 tons of production capacity. The second base, Hushi, is under construction and is expected to start production in the fourth quarter of this year. We are also planning to set up the third base, Wuhai.
[2860 -> 2889] The next 460,000 tons will also be built in Jinluo and Migu, and will be completed in the second quarter. We have reached the capacity of 80,000 tons in Leshan, and we expect to be fully produced in April. At that time, we will have the capacity of 300,000 tons of production and 100,000 tons of construction and 100,000 tons of planning capacity in Wuhai.
[2890 -> 2918] we will have 500,000 tons of production capacity in China. In terms of R&D, Xiexing Technology attaches great importance to R&D. As I just introduced, since 2017, our Ph.D. team has been working on the development of calcium carbonate. After seven years,
[2919 -> 2948] In our seven years of research and development, we are very happy to report to you that we have the world's first 100MW Chinese-made power supply, and it is 1x2m in size. We have already achieved 16% conversion efficiency, and we hope to achieve 18% this year. In a more pure aspect, we will continue to dig deep into the multi-purpose products of electronic machines and decentralized systems, which is our Xinhua semiconductor.
[2949 -> 2978] It is currently the only domestic product that can be made into a 12-inch, light-weight, semi-circular material supply. It is also the only one that can break the foreign technological monopoly. It is the only one that has the intellectual property of GCL. It is the owner of an electronic multi-mechanical production technology. So, in terms of quality, in terms of future coordination, in terms of the next generation of materials,
[2978 -> 3005] Xiexing Technology is well prepared. We welcome everyone to come to our bases in China for guidance. We also believe that with our automation, our information, our digitalization, we will continue to increase in generations. We will use more low-carbon products, more flexible manufacturing to create better products and higher profits for our customers and shareholders. Thank you.
[3010 -> 3039] Thank you, Mr. Lan, for your wonderful words. Next is our Q&A session. We welcome all online and live viewers to ask questions. Before you ask a question, please tell us your name and where you are from. Participants on the web can also use text to ask questions in the live system. Please ask a question by clicking the question mark button in the upper left corner of the live web page. Thank you.
[3043 -> 3070] Yes, the middle one, Daniel. Hi, I'm Yang Haiyang from HSBC. Thank you very much for giving me the opportunity to ask this question. I have three questions. First, I was very surprised to see that the company has a cash dividend plan this year. I would like to ask about the future policy of the dividend. Second, I would like to ask about the current overseas layout.
[3071 -> 3099] In which areas do you think it is more feasible and attractive? The third question is about the cost. Mr. Lan made a very clear introduction, but I would like to ask more about the cost of the new production base, especially the Baotou base, which is equipped with industrial turtles. What is the reduction in the cost of production compared to the turtles in Xuzhou? Thank you.
[3100 -> 3126] Thank you. Mr. Yang, please answer the first question about the dividend. Okay, I'll answer the first question, the question about the dividend. We made a decision at the Board of Directors this time. The dividend is 0.06 yuan per share, as I said just now. But there is an approval from our shareholders' committee. In the discussion of the Board of Directors at the time of our dividend,
[3126 -> 3143] We need to discuss whether we should announce a long-term, stable dividend policy in the future. But now, from the perspective of money and finance, our current financial situation is relatively healthy. To put it bluntly, it is relatively healthy. I am also optimistic about the expected future.
[3143 -> 3162] But I am still conservative. I am still conservative. Our final decision was made with an open mind. We did not say that we would allocate five or ten points every year. Our board did not make this decision. But in every annual report, mid-year report,
[3163 -> 3192] we will put it into a special topic for discussion. But now I see our future cash flow, I see our future capital investment, and I see our future operation, I am still more optimistic. This is my personal opinion. Thank you. Thank you, Mr. Yang. Mr. Lan, please answer the following two questions. Okay. From the perspective of overseas layout, in fact, Xiexing Technology has a very big advantage, which is the scalability and modularization I just mentioned.
[3192 -> 3210] China, and the world.
[3210 -> 3240] 70 people. And even if the cost of 70 people is high, you can calculate that it can actually cover the total cost. Second, after our modularization, we use 20,000 tons of a module, like Lego games, Lego, to build our 100,000 tons or 60,000 tons of overseas silicon base. We can also very quickly
[3240 -> 3259] I would like to
[3259 -> 3280] After the Chinese New Year, I spent a long time with our chief scientist and other core teams overseas. We are also doing research on this. Since we have not yet entered the board process, I can only say that we now have a very clear overseas strategy.
[3280 -> 3301] We will also receive support from countries like One Belt, One Road, and so on, to go overseas. There is a very big malice point in the overseas strategy, which is that up to now, nearly 90% of the world's raw materials come from China.
[3301 -> 3312] Chinese.
[3312 -> 3334] In this process, if we transform all of them into components, it will only be 40 GW. So, for the overseas ESG industry, and for the overseas optical clothing market, the demand for material is far greater than that of China. In this process, Xixin Technology has also received a lot of support.
[3334 -> 3358] including the invitations from investors and overseas companies. We will also have in-depth communications with them on this matter, and we will reach a consensus on future cooperation. So we will announce our future overseas plans in real time. But I can also firmly say to all investors and shareholders that the overseas strategy is a very clear strategy.
[3360 -> 3382] Mr. Zhu clearly told us that at this point, in 2023, Xiexing Technology will definitely take this path, and it is likely that it will succeed. The third question is a very professional one. Obviously, the cost of the base in Baotou is lower than that in Leshan and our base in Xuzhou.
[3383 -> 3399] Because in this process, the gas produced by our industrial turtles can be perfectly supplied to our turtles. At least the price of gas in the cost of our turtles will be greatly reduced, because it is a co-operative effect.
[3399 -> 3419] And this process can be clearly seen in our future cost analysis, in our cash or manufacturing. This is also the first generation technology of V3 that we came up with in the process of mass production.
[3419 -> 3448] Xuzhou is a path of exploration, and it can go up to 20,000 tons. In the Leshan project, 20,000 tons has already formed a modularization and solidification. In the first non-Xuzhou base, it can achieve modularization. In the third base, if the conditions allow, we can combine our two processes, upstream and downstream processes, to greatly reduce our production costs. On this point,
[3448 -> 3473] Gary.
[3477 -> 3500] First of all, I would like to congratulate the company on its excellent performance last year. I am Gary Zhou from Ruixin Securities. I have three questions to ask you. First, can you guide us on the production volume of multi-crystals in 2023 and the number of particles in it? At the same time, can you share your views on the price trend of materials this year with our investors?
[3500 -> 3527] Second, I would like to ask about the current development progress of our company in the field of carbon mining, and what is the position compared to peers in the industry, and whether there is a timetable for commercial mass production in the future. Finally, I would like to ask about Fenghong, how does the company balance between buying back Fenghong? Thank you. Thank you, Gary. Mr. Lan, please answer the first question.
[3528 -> 3541] We have about 240,000 to 260,000 tons of 3800 hybrid technologies this year.
[3541 -> 3563] In the future, there will be more competitive products of the silicon turtle.
[3563 -> 3590] 100% of our production is silicon, because all our basements are now covered by silicon. In terms of the trend of polyethylene, this is a very interesting question, because the N-type era is faster than us, so the trend of polyethylene in the future may be similar to the trend of silicone in the past.
[3590 -> 3612] In other words, the better the quality, the better the N-type raw material, which can provide a high index of life, can be. Its price may slow down. It may even drop to a point and then stop. Because I just showed you the quality result. We think we need to reach the second level.
[3612 -> 3639] to be able to meet the needs of large-scale production in the future. Secondly, as you can see, many companies are planning to expand their production. In absolute terms, I think the trend for the future is definitely a downward trend. There is no doubt about it.
[3639 -> 3661] In this downward trend, the future may be flat, and so on. The downward trend will be faster. But in general, it will definitely fall to an average manufacturing cost. When it's about the same, this amount, including the old production capacity and poor quality production capacity, will be reduced.
[3661 -> 3678] So, in general, I think that the era of Jiwa and Taiwa will come before 2030, and the total amount of material will still be an industry that is constantly expanding.
[3679 -> 3695] high-quality materials, products that are more compatible with our customers, and the ultimate needs of our downstream customers, including low-carbon needs and other needs.
[3696 -> 3718] Thank you. Dr. Fan Bin, please answer the second question. Okay, I'll answer the question about open-source mining.
[3718 -> 3738] Our Ganshai Mine 100 production line was completed in September 2021. Our plan at that time was to run this line for about two years. That is to say, by the end of 2023, we hope to achieve 18% efficiency. We have always followed this goal. Then in 2022, due to some well-known reasons,
[3738 -> 3755] and there were some delays. But we are very happy to announce that our efficiency has reached 16% in the past week, and we are very confident that we can achieve our goal of reaching 18% by the end of this year.
[3755 -> 3784] 18% efficiency is still relatively low compared to the current standard, but it has already entered the market in some low BOS markets. Another question about you is what level are we in the industry? We don't directly evaluate oil companies, but we can see what kind of institutions our investors are. I think the choice of institutions can indirectly reflect our strength.
[3785 -> 3807] Thank you. Thank you, Dr. Fan. The last question is about dividends and repurchase. Mr. Yang, please. I will answer the question. The balance point of dividends and repurchase is that we have done repurchase many times in the past period and issued an announcement. The most recent dividend in 3.8.0 is the shares of 4.5.0 and 5.6.0 distributed by 15.
[3807 -> 3826] But I think the cash dividend came about five or six years ago. In the past period, many investors and shareholders responded to me, saying, Mr. Yang, there seems to be no return on your shares.
[3826 -> 3851] It depends on the growth of the stock, but it has never given me dividends. But the dividend distribution is not very realistic for them. I heard this from investors and shareholders. So I think there should be a realistic return to our investors and shareholders. The most realistic way is to send cash. I personally feel that the most realistic way is to send cash.
[3851 -> 3867] As for the shares I sent, I calculated that we have 240.77 billion shares, but each share is 0.06, which is 16.25 billion Hong Kong dollars. For other larger companies, your distribution rate is still relatively low.
[3867 -> 3894] about three points. I hope you can understand that we have started from 2021, and we have made more than 100 billion yuan in the past two years. This is just the beginning. However, I have already answered your first question. I can see that you are quite optimistic. Therefore, I do not rule out that we will discuss the situation of the dividend every board meeting in the future.
[3894 -> 3922] I will report to the board of directors to see if we have the ability or the extra cash to do this. At the same time, I will respond to the opinions of the board of directors. Speaking of the issue of repurchase, we have done several repurchases in the past. Some of them were put into our equity base plan after we repurchased. Some of them were canceled after repurchase. But we got the effect. Of course, we bought some stocks at a relatively low price. Now they are all given to us by some executives and employees.
[3922 -> 3947] We were all on the same boat, and all the employees got their shares as a reward. But when it came to the cancellation of the shares, I heard that the response was that the amount was too small. It was useless to buy back a little bit. The investors and shareholders told me that. But when we look at it from the perspective of the management and the board, I bought back so much cash, and then cancelled the shares.
[3947 -> 3972] But in the past, we have also done several stock financing. Those people are a bit unbalanced. To put it bluntly, how can I buy your stock at a high price? Now that you bought it back, it's canceled. What do you mean? So when we balance these points, Gary, this is what we have considered. At the same time, at the real-time level, I believe the simplest way to collect cash dividends is like yesterday when I added printing windows, and when we finally put 0.06 on the board,
[3973 -> 3989] China.
[3989 -> 4017] Thank you for your response. Tony.
[4021 -> 4036] Good morning, everyone. I'm Fei Yunqing, an analyst from Sino-British International. Since Mr. Fan is also here today, I'd like to ask him two questions about the open solar system and a question about the grid. Mr. Lan and Mr. Fan have just introduced that our goal this year is to run 100MW first.
[4036 -> 4066] In my personal opinion, if this line can run smoothly, it will be easier for us to replicate larger-scale production lines in the future. In the process of 2016-2018, are the current technical difficulties mainly due to the two dimensions of dry crystallization and laser sliding? We are now cooperating with our equipment suppliers to promote the solution of these two problems. Is there any progress that can be shared now? This is the first question. The second question is about the efficiency of the built-in mining. We also see that recently,
[4066 -> 4075] and the efficiency of calcium carbonate is also very high. I understand that a lot of this is achieved through formal structures at the laboratory level.
[4076 -> 4096] But for commercial companies, including Xiexing, we all adopt a reverse structure. So if we base it on this reverse structure, Fanbo thinks that after we reach 18, in the next two or three years, where can we aim to achieve efficiency? What are the main ways to achieve it? This is the second question about efficiency.
[4096 -> 4120] The third question is that we are basically the only company in the market that has a large number of suppliers, and we have been investing for so many years. We are basically the only supplier. From the perspective of our customers, from the perspective of supply safety, we are the only supplier.
[4120 -> 4148] What are your thoughts on the long-term market share of Clio? Thank you. Thank you. Dr. Fan, please answer the first question. Okay. Your question is very professional. It's about our next technical difficulties. Indeed, crystallization and sliding are our two main technical difficulties. But it's not limited to this. After our crystallization problem is solved, the interface problem will be highlighted.
[4148 -> 4177] will be similar to Jinggui. In the early days, it was BSLF, and later on, it was all kinds of sublimation. For the calcium carbonate, it also has all kinds of sublimation routes. And the sublimation of calcium carbonate, because it can be integrated into the recipe design, it will be more complicated. And now we can say that the crystallization has been solved better. And in the past two years, our suppliers have also improved a lot with us. It can be said that the problem is not so big. Then more problems will be solved on our interface issues.
[4177 -> 4199] which is the choice of various animation materials and processes. This is the first question. The second question is about our efficiency. In the early days, there was a big difference in efficiency between reverse and normal. In the early years, there was even a difference of about three points. But we can also see that by last year, in fact, the efficiency of reverse and the efficiency difference of normal is already within a point. Now it can exceed 25%.
[4199 -> 4226] If we look at it from this perspective, we have a lot of room for efficiency. When we achieved 18 in mass production, we had 25 at the experimental end. This difference in efficiency is still relatively large compared to the existing components and the difference in experimental efficiency. So even if Qian Yan's progress slows down, in fact, the potential of our components can also reach 21 or 22. Thank you. Thank you. Mr. Lan, please answer the second question.
[4227 -> 4243] CHEN GOLDBERG, FOREIGN MINISTER OF CHINA AND JAPANESE ENTITIES, INTERNATIONAL COUNCIL FOR ECONOMIC DEVELOPMENT
[4243 -> 4268] First, Xixin Technology's current quality is not bad, but the cost you announce every time is very low. You must be so much lower than the package. So what do we gain from using a lot of your particles? Of course, there is the gain of carbon footprint, but there is also the gain afterwards. What kind of gain do we have? After using such a large area, can we share some parts of your reduced delta value?
[4268 -> 4298] CHINESE
[4298 -> 4327] From the perspective of cost alone, there are two parts to it. The first part is the cost of returning raw materials. The second part is the cost of non-returning materials. In the process of non-returning materials, our crystals are slowly, because they are also touching the formula, they are also touching the automation, they are slowly having significant advantages in this area, especially in terms of human efficiency. In fact, they have already felt it. At this point,
[4327 -> 4343] and the quality of the spoon. If we look at it from a different perspective, is it because the technology of silicon is only available in the form of crystals, that in the future there will be
[4343 -> 4371] If you want to buy a silicon turtle, you can only buy it with an agreement. I think we should look at this issue in two ways. First, it is impossible for us to own the entire market. The Pacific is very large, and there will definitely be people who will develop it. Just like in 2006, there were only three or four companies that entered the multi-turtle industry. But in 2009, there were more than 20 companies. Including now, there may be dozens of turtles. But with the increase in the market share of our silicon turtles, the stability of the quality, and the performance,
[4371 -> 4394] In fact, many of our business partners are already doing technical reserves and technical routes. There is also another route, which is also protected by intellectual property rights. Everyone is exploring. What is advantageous about co-operative technology is that we do not feel that the core of co-operative technology is the grid.
[4394 -> 4415] As you can see, from Q1 2022 to Q1 2023, our quality improvement rate is very fast. Because we believe that the purity of the silicon can be achieved in this light-absorbing silicon material is actually higher than that of the steel. Because in your closed system,
[4415 -> 4432] Chinese...
[4432 -> 4453] In fact, if you have done these steps well, you only need to do a technical substitution in a relatively closed system, and make sure that the coating of pudding is done well, then its quality can be changed visibly. So we can see that from Q1, from Q1 in 2022, we can actually see that
[4454 -> 4469] China is the only country in the world that has been able to do this.
[4469 -> 4494] If we solve the problem of one bed, we can solve the problem of 90 beds. Then it can be replaced quickly in each step. This is the logic of quality improvement and the possibility of quality improvement in the future. So, at this point, I believe that the advantages provided by Xixin Technology to customers in the future are better products, higher quality products, and more cost-effective services. What we have always insisted on is
[4494 -> 4511] I don't mean to monopolize. I believe monopolization can only be done in a certain time frame. If we set the time frame a little bit longer, then the essence of cooperation is innovation. Just like today, when Dr. Fan and I are sitting together,
[4511 -> 4529] Critique took nine years to enter commercialization, but it only took four years to reach a market share of more than 10%. I believe that Dr. Fan's team, Gaitai Mining, which is now in its seventh year, will continue to grow in the field of Gaitai Mining.
[4529 -> 4552] Thank you, Mr. Lan.
[4555 -> 4582] Hello, everyone. I'm Miao Yufei from ZTE. Congratulations to the company for its excellent performance and a very sincere annual report. I have three questions. The first one is related to the silicon. The company has also disclosed the fast growth of the top five customers. I'd like to ask about the customer concentration of our current silicon. It also involves the way of promoting our entire silicon. I'd like to update it. Including the customers' usage habits, which is a rough sketch.
[4583 -> 4601] The second question is, as Mr. Yang just mentioned, with the improvement of the debt-to-debt ratio, what is the level of coverage for our future capital and financing channels?
[4601 -> 4630] including the overseas production capacity mentioned by Mr. Lan. Compared with the subsequent facilities in Wuhai or Inner Mongolia, its construction progress may be earlier or later. We would like to see if we can provide some color here. Finally, we would like to follow up on the construction of the belt mine, which has also achieved very good efficiency improvement. What are our plans for the Jiwa Line in the future? What is the current progress of the Jiwa Line? Thank you. Thank you. Mr. Lan, please answer the first question.
[4631 -> 4661] In terms of mobility, in the past few months, due to the cross-border connection and the pandemic, we have been climbing very fast, actually faster than we thought. I remember in August and September, we were still at 6,000 tons, but now we are at 15,000 tons. In just seven months, our monthly sales, the sales of Keligui, have expanded a lot.
[4661 -> 4676] Chinese. Chinese.
[4676 -> 4694] The more excellent our downstream companies are, the more decisive their use is. Many of our downstream companies are very respectable customers. They even send their teams to our 5G and 7G networks.
[4695 -> 4716] So, in the beginning, they were actually doing this.
[4716 -> 4732] I think it's a good question.
[4732 -> 4752] The second is the user's habit. Currently, the user's habit of using a large amount of material is the 30% or so of the total material ratio.
[4753 -> 4773] is about 56% to 57%. So the proportion of the raw material is not low. The third one is the proportion of the NP material and the head material.
[4773 -> 4798] Now we all know that N-shapes are rapidly increasing but have not yet formed very effective production capacity. We are also doing these things at this time. In fact, some manufacturers are already 100% N-shaped. But this data is related to the confidentiality agreement between us and China, so I can't announce which one and its efficiency level. But at present,
[4799 -> 4813] the situation is very positive. Because we have come to do tests with different ratios of different metal impurities. So I can tell you with confidence that if we can't reach the level of the second-grade electronic machines,
[4813 -> 4842] In the process of large-scale users' use, whether it is a stick or a grater, they can obviously feel that after a lot of sticks, it will reach 225 to 226, and then it will shrink very quickly. We ourselves are the same. Because I just showed you that we have such different products to invest in. So, because our current ratio is climbing rapidly in high quality, and the number of metal impurities is less than one, it is increasing rapidly. So, in this respect, our user experience
[4842 -> 4871] in terms of N-type, is quite good. But it is still limited to the total amount of N-type waste. Maybe in the 5.3 billion pieces, N-type may only account for 10% to 15%. Maybe not even 15%. But I believe that maybe in Q3, if we hold such a meeting again, I can tell you more clearly that the ratio of the use of N-type and the total amount of waste we use
[4871 -> 4895] Thank you, Mr. Lan. The second question is about capital. Mr. Yang, please. Let me answer this question. Actually, I would like to give a brief answer. When I was doing the demonstration, there was a PPT. I said that our annual game debt is 9.8 billion yuan.
[4895 -> 4916] We have about 3.8 billion yuan in debt in the past year. However, we use international accounting standards to calculate the debt. So, I made a special hole. If there is a return on investment, we can see that the total game debt in the past year is only 2.3 billion yuan, and the debt in the past year is 3.8 billion yuan.
[4916 -> 4946] So you can see, let me talk about the first point. In fact, the debt we have in the short term is not much, only a few hundred million. This is the first point. Then, you can see my debt ratio. If I use the traditional international accounting formula, it is only 46. Then, if I use the return method, I only have 34.8. As I said just now, this is a very, very low level in the cross-industry manufacturing industry. In fact, we have been discussing with overseas banks, domestic banks,
[4946 -> 4975] So now it's not me looking for them, it's them looking for me and my team. They all hope to increase their loans. Because I see that we are really healthy. Let's respond to our cash flow and our volume, and then some comparisons from overseas. You can see that last year I made about 35 billion in sales. You can see that my cash flow return is very strong. You can see it in the cash flow chart. And then our capital expenditure is about to come out in 2023.
[4975 -> 5000] is around 100 to 121. Under the premise that all the conditions are unchanged, I don't need to do financing at all. After the search, I can already cover the so-called capital expenses. But these capital expenses, to say a little more, are mainly for China. So you asked very well just now. It is the overseas side, including Mr. Nan, who just said that we did spend a lot of time, including Mr. Nan,
[5000 -> 5010] I have spent a lot of time traveling overseas in the past few months. In the near future, we should decide what to do overseas.
[5010 -> 5039] In fact, there are already different banks discussing with us, including some overseas investors and overseas companies. They are all contacting us directly. They hope to establish cooperation in different ways, including joint venture companies, JV, or cooperation in different ways. Because you have to go there. Therefore, depending on the cooperation method set by the board in the end, your equity ratio will be different. But I believe you can calculate some of our past experiences.
[5039 -> 5053] For example, in China, if I plant 10,000 tons, I will get about 8 billion RMB. Of course, if you go to other countries, the conditions may change and your total investment may increase.
[5054 -> 5080] But this is something that can be calculated. So in this aspect, how much bank funds, including those overseas companies, including those domestic business owners, are all waiting for us to decide how to participate in this group. So I am more optimistic in this regard. Thank you, Mr. Yang. The third question is for Dr. Fan to answer.
[5080 -> 5095] SPEAKER 1 IN CHINESE
[5095 -> 5125] But our current focus is still on our 100-mW line. That is to say, as our technology progresses, the use of many devices will change a lot. If we rush to develop a large-scale expansion plan now, it is easy to make some unnecessary mistakes. Because of this, we believe that in the next one or two years, it will not be a time for a large-scale expansion. We will still focus on the technical transformation of our 100-mW line.
[5128 -> 5154] Okay, thank you. Today, we have a live and a live-streaming session. We can say it's a global live-streaming session. We have a lot of questions online. Let's answer the online questions first. This is a question from Shanghai Securities. The question is also for Mr. Lan. In 2022, the investment in R&D will increase significantly. In which direction will it go?
[5154 -> 5182] What are the plans for the further development of silicon technology? Thank you. This should be answered by the chief scientist. Let's ask the chief scientist to answer first. R&D. Okay, let's ask Mr. Jiang. What are the directions for R&D? As Mr. Lan said, from industrialization to today,
[5182 -> 5206] We've come a long way, and we've improved a lot in the past two years. We've come a long way, and we've improved a lot in the past two years. We've come a long way, and we've improved a lot in the past two years. We've come a long way, and we've improved a lot in the past two years. We've come a long way, and we've improved a lot in the past two years. We've come a long way, and we've improved a lot in the past two years. We've come a long way, and we've improved a lot in the past two years. We've come a long way, and we've improved a lot in the past two years. We've come a long way, and we've improved a lot in the past two years. We've come a long way, and we've improved a lot in the past two years. We've come a long way, and we've improved a lot in the past two years. We've come a long way, and we've improved a lot in the
[5206 -> 5236] and it can be developed for a long period of time. There is a lot of room for development in this area. What are the main directions? One is that everyone is very concerned about whether the consumables can reduce the cost. Yes, we can improve and improve these things, and even make them durable and cheap. The energy consumption in the whole process
[5236 -> 5256] can be significantly reduced, especially the energy consumption. We want to further optimize the process of the whole factory. Compared with Siemens, its energy consumption has dropped a lot, and so has our energy consumption. So, in terms of energy consumption, we can still optimize the process.
[5256 -> 5282] Even the carbon footprint can be further reduced. In these aspects, there are many topics worth discussing, such as materials, technology, and equipment. So most of our research and development will be focused on these areas. In addition, we can also develop some materials related to our chemical industry. For example, steel pans are very scarce now.
[5282 -> 5311] We went to a lot of clients this time, and many of them said, Xie Xin, aren't you very good at doing research and development? Can you provide some artificial chemicals? Artificial synthesis? Yes. In fact, we had such ideas for a long time. And after coming back this time, Mr. Ran told us in person that we should start doing this quickly. Artificial synthesis? Why can't we do it? We have very good basic raw materials.
[5311 -> 5338] We can also do these things under such conditions. So these things will be the direction of research and investment for how to innovate and do better in the future. Thank you, Mr. Jiang. The next question is from a friend from Boyu Jintai. The first question is, what is the reason for the rapid improvement of the quality of silicon in March?
[5339 -> 5368] The second question is, does the company plan to rely on the return on investment to lay out new business? Mr. Lan, please answer. It is actually a process from quantitative to qualitative change. First of all, our quality improvement is not entirely due to ourselves. Without the client's requirements, our progress will not be so fast.
[5369 -> 5384] I think this is a great opportunity for us.
[5384 -> 5411] The higher it is, the more picky it is. The higher it is, the more picky it is. So at this point, we have very good cooperators. We also have very good cooperation methods and communication methods. We have reached an agreement with our downstream. Maybe other friends have never done it, including not limited to our quality communication,
[5412 -> 5437] our BI intercommunication, and so on. Our data can be used in real-time. When a result comes out, I know which product is from which bed. As soon as our product gets on the car, it will know how to make a formula in that base. So at this point, I think it is a process from quantum to quantum.
[5438 -> 5456] The second point is also what our customers have suggested. There are some details in it that I can't say too clearly. But one thing is that the customer is more satisfied with this angle. In fact, after we finish it, we will find that the quality will be better.
[5456 -> 5482] Because in the downstream experience, he can feel which products, although the performance of COA in my place is almost the same, why is there such a big difference in quality after the final return of its quality? He will propose some aspects that we hope to improve. These aspects are actually a very good lighthouse to make the base of the three bases of co-operative technology
[5482 -> 5501] In fact, this is also a very good reward and incentive mechanism for Xixin Technology. Our three bases, in terms of our quality improvement, in terms of our technology integration, especially under the leadership of our chief scientist, Mr. Jiang,
[5501 -> 5527] First, the chain of growth that is formed on the條線上形成的鏈長值, it will soon be able to break through the balance between the base and the base. Second, we have a bunch of people who specialize in research and development in our team, which is to solve the problems that three bases may not be able to solve. For example, the problem of materials, the problem of which direction the research and development should focus on. In these problems,
[5527 -> 5542] I would like to say that the speed of improvement is beyond our expectation.
[5542 -> 5569] Thank you, Mr. Lan.
[5572 -> 5592] I will say a part and then Mr. Jiang will add more. At present, our tortoise powder is already sold out. Our tortoise powder has a lot of uses, but the biggest use is still used in our downstream garbage.
[5592 -> 5617] is very competitive. I think this is not our best technology, so we are still developing it. We are developing a lot of funds to do this kind of work. This kind of work is actually more competitive in the future product series of Xiexing Technology. Mr. Jiang, please tell us about it.
[5619 -> 5639] In fact, the quality and shape of the powder is very good. The purity of this powder can be up to 6.9 or 9.9, right? However, it is more complicated for the role of Lada Jin.
[5640 -> 5653] Of course, it can now be used as a single-use stove. But if we look at it from another perspective, such high-quality osmanthus powder has many uses.
[5654 -> 5682] We are also doing this kind of work. Now it seems that there is a very small amount of carbon dioxide. But you should know that the carbon dioxide of lithium-ion batteries is more than 1 million tons. If 10% of these carbons are replaced by carbon dioxide, and 20% are replaced by carbon dioxide, the amount of carbon dioxide is huge.
[5683 -> 5711] Secondly, like what I just said, I have also mentioned that, for example, synthesizers are similar to these things. They are all very good raw materials. So I think in the near future, Xiexing Technology will use such high-quality raw materials to make other high-value products. Okay, that's all. Thank you, Mr. Jiang.
[5713 -> 5742] We don't have much time, so let's ask the last question. Hello, everyone. I'm Zhang Jingqi, an analyst at Haitong International. Congratulations on your achievements last year. You've improved the quality of the particles and downstream acceptance. I have two questions for the management team. First, I'd like to ask you about the progress of CCG technology. When will it be verified by customers?
[5742 -> 5771] What is the value of the CCJ single-stage furnace? Second, we know that in August last year, the United States introduced the R&D policy. It also provides a rich policy subsidy from upstream to downstream. This is also a concern in the industry. Some downstream components have been announced to be built in the US. Just now, our management team also mentioned some of the company's overseas market plans and outlooks. Has the company considered going to the US or other overseas markets? These are the two main questions.
[5771 -> 5787] Thank you. Mr. Jiang, would you like to answer the first CCC question? Many students have been interested in CCC. Just like Craig, many students are interested in CCC.
[5787 -> 5817] investors, shareholders, and other companies. We talked a lot. A lot of our shareholders and investors also came to our base for exchanges. I think, in terms of progress, in terms of technology and R&D, it won't take long. But we have to
[5817 -> 5828] how to industrialize, when to industrialize. I think it will be based on some shareholders, investors, even the board and our partners.
[5829 -> 5857] at what point in time to do some industrialization. This maximizes the value of advanced technology. I just mentioned the concept of value. I'm not sure about the concept of value. Now, CIC is basically considered in two dimensions. One is its single production.
[5857 -> 5875] The second factor is the quality of the product. Whether it is an N-type or a P-type, the quality of the product is very important.
[5876 -> 5901] In terms of quality, there are still some differences. The main difference is that the quality of the fingers has dropped a little bit. But we can still fix it now. For example, the quality of our Krav Maga is relatively high. It's not a problem to fix it after we find those problems.
[5901 -> 5922] Thank you, Mr. Jiang. Mr. Yang, please answer the last question.
[5922 -> 5952] Let me talk about the situation in the U.S. First of all, Xiexing Technology has a company in the U.S. At the end of last year, I flew to the U.S. with my team from China and Hong Kong. I spent about three to four weeks in the U.S. I went to about eight or nine states to visit many places and discuss things with people from different local governments.
[5953 -> 5977] The main reason is that, as you just said, the U.S. has announced some very good conditions in the past period. If you want to make solar energy, you may get a lot of subsidies. This has aroused some interest from everyone. So about half a year ago, now about nine months ago, our U.S. company has already started to do some research.
[5978 -> 6001] At the end of last year, I flew to the U.S. for more than three weeks to visit local officials and local companies. At the same time, I hired two or three of the largest law firms in the U.S. to give us some advice. We are not unfamiliar with the U.S. Because in 2016 and 2017, we had acquired the local Sundance.
[6001 -> 6019] I'm
[6019 -> 6034] uh,
[6034 -> 6059] including its safety assessment. And if you want to get some subsidies from the Ministry of Energy DOE, there are still a lot of requirements. In fact, we are all doing research in this area. We have hired a law firm to help us do some research analysis. In fact, we are still discussing the cooperation method. So, as Mr. Nan just said, it's the United States. We just didn't break the overseas strategy.
[6059 -> 6077] Thank you.
[6077 -> 6107] Okay, hao. Thank you for your time. That's all for today. Next, we will have a quick interview session. Please stay where you are. Our chief executive officer, Mr. Lan Tianzhi, will talk to the reporters here. In the next few days, the company's management team will do a full tour in Hong Kong and Shenzhen. We will continue to have one-on-one communication with investors. If you have any questions or comments,
[6107 -> 6113] We look forward to our next meeting. Thank you for your time.