First factor: Chinese export tax rebate policyIn 2023, we paid 13% VAT, and the Chinese government refunded the full 13% to exporters as an incentive.In September 2024, the VAT remained 13%, but the rebate was reduced to 9%.Starting from April 1, 2026, the export tax rebate will be completely cancelled, and an additional surcharge of approximately 1% will be applied. Please refer to Reuters News https://www.reuters.com/sustainability/climate-energy/china-scrap-export-tax-rebates-photovoltaic-battery-products-2026-01-09/ and the HS code 69039000 we used in the attachment.