Michael Legg: Okay. So of the $217 million of inventory, how much is raw materials versus all the finished goods?
James Jin Cheng: Okay. I think most – I think about maybe one third of the numbers is the finished goods for A13 series. And another two services I think is diversified to many different stages like the chips or already assembled the PCB but not still waiting for assembling to the machines. And maybe there’s also some percentages still at the wafer level. Yes, but I think there’s no wafers still in process.
Michael Legg: Okay. And then just one last question. Can you comment on where you think your market share is today when you’re – how’re seeing yourself versus your competition? Thanks.
James Jin Cheng: Yes. I think – yes, it’s a very volatile market this quarter. But for the third quarter it’s a quietly boring quarter. So I don’t think the market share numbers have some significant change in sort of quarter three. Usually we think it’s about 20% or close to that number is our market share. For the first quarter we can observe the significant sales spike in the, yes, but still there’s about one month to go. So and also we can observe that many, that there’s a significant hash rate increase in quarter four. So we are still waiting for that number. Yes.
Michael Legg: Okay. Thank you.
James Jin Cheng: And Michael, our two major competitors, they are private companies, so they don’t disclose their result. So we have no accurate number of the whole market share. NG has described the sense about the market share.
Michael Legg: Okay. Great. Thank you.
Operator: Our next question now comes from the line of Shuang Sun from Guosheng Securities. Please go ahead.
Shuang Sun: Hello. So can you hear me?
Nangeng Zhang: Yes, please.
Shuang Sun: Okay. My first question is, how has the computing power price recovered from the bottom when and to what extent?
Nangeng Zhang: Yes thank you. Thank you for your question. From what we’ve seen so far, the demand was quite low throughout the entire third quarter. However, as we move to the first quarter, we notice that an increase in demand, especially in past few weeks, but there has no been a significant increase in the average selling price. It’s important to note that bitcoin price has only experienced a noticeable upturn in the past few weeks, and the market typically does not react so quickly.
Shuang Sun: Okay.
Nangeng Zhang: Thank you.
Shuang Sun: Okay. Thank you. My second question is that with increasing demand from AI computing power nowadays, can you secure enough wafer supply with the foundry? What’s the cheap process node of your mainstream products and which foundry do you collaborate with now?
Nangeng Zhang: Yes. The chips used in our mining machines adopt a different process node, and we are fabricated on a different production line from mainstream cloud-based AI computing chips. And I think the current bottleneck in AI chip production primarily is in advanced packaging. So from my observation, it has not yet impacted the production capacity of the advanced process node. And the fabrication process of our current mainstream products aligns with that of our peers. So the capacity for this advanced process is only available from a selected field top-tier semiconductor foundries. And also we have established long-term partnerships with these foundries.
Shuang Sun: Okay. Thank you.
Operator: Thank you for the questions. And in the interest of time, I would like to turn the call back over to the company for any closing remarks.
Nangeng Zhang: Hello, everyone, and thank you again for joining our Q3 earnings conference call today. If you have any further questions, please feel free to reach us through the contact information provided on our website. And thank you again.
Operator: That concludes the call today. Thank you, everyone, for attending. You may now disconnect.
