In November, both production and sales flourished. The birthday stars of Xiaosong Renewable Energy gathered together to celebrate their first birthday with the company. Blessings, cakes, red envelopes, delicious food, and laughter accompanied everyone through an unforgettable day. Although good times are always fleeting, birthday wishes linger long.

Xiaosong Renewable Energy, though newly established, has achieved remarkable progress under the joint efforts of all employees. In just a few months, it completed production line construction, product planning and development, successfully launched air-source heat pumps and air conditioners into the global market, rapidly established a full value chain, and formulated plans for the next year. This speed is rare in the industry, hard-earned, and the crystallization of the hard work and wisdom of all employees.Moving forward together, we fear no challenges.

We are fully aware that the international situation is unpredictable and the industry is deeply entangled in internal competition. We have only achieved initial success in the construction phase and still have many imperfections to overcome. The pursuers are always close behind, and more trials and greater challenges await us ahead.

The situation in 2025 will be even more severe than in 2024, with an irreversible overall environment. We must abandon illusions and work hard. The intensity of industry competition has triggered the law of the jungle, accelerating the survival of the fittest. The next five years are likely to witness extreme competition for limited resources, a do-or-die situation. Challenges abound, but this is also the best opportunity for us to take the lead in the turn. The survivors will not be the strongest species but the ones best adapted to the environment. Our key business strategy to actively adapt to the environment is to span water-source and air-source technologies and operate globally. With the flexibility of a small company and delivery capabilities comparable to those of the world's top 500 enterprises, we continue to conquer new territories and establish a global presence. Despite numerous industry challenges, our mission remains unchanged. Through the joint efforts of all employees, we are committed to reducing carbon emissions through technology and creating a green planet.

Once again, happy birthday and wish you all the best in your work, November birthday stars.