Ming Yang: Okay. Ji Chao, thank you very much for your questions. So with regard to N-type, so the percentage keeps improving. So in Q1, it was roughly in the range of 10% to 20%. And actually, for Q2, we’ve already increased it to the range of 20% to 30%, I think based on the company’s, both in the market conditions and the market demand from the customers and also the price premium and that’s afforded in the market. So I think towards the end of Q2, now that price premium is in RMB 10 to RMB 15 per kilogram range for N-type relative P-type, we are actually modifying our process and optimizing our process to produce more N-type. I think in the second half, right now, our expectation is that N-type will constitute somewhere between 30% to 50% of our production.
So obviously, Xinjiang is a more mature process and — but the equipment has a little bit more limitation on the entire percentage, but we think we can improve it further. But Inner Mongolia is in the process of improving its quality and ramping up. So we’re very optimistic that over time, the Inner Mongolia N-type percentage will increase meaningfully. Let me follow-up on the second question. Can you repeat your second question again?
Ji Chao: Sure. The second quarter operating cash flow seems to be negative. Can I ask why is that?
Ming Yang: The negative is — for the 6 months, we had $786 million, I think the operating cash flow.
Ji Chao: Right, right. But it seems that the first quarter cash flow is like more than $800 million. So it seems like the second quarter is slightly negative?
Ming Yang: It’s probably related to our bank note sales. Let me follow-up with you on the topic.
Operator: Next question will be from [indiscernible].
Unidentified Analyst: So my question is, so we have changes in our management team. And I want to ask due to our [indiscernible] management, do we have plan to launch new business or do new investments?
Longgen Zhang: I think the change of the new management team, I think Mr. Xu is the Chairman and CEO new. I think he’s also the biggest shareholder and the controller — and the Asia controller. I think yes, maybe I think in the future, definitely, we were looking to do some study. But we still, I think we’re focused on our existing business. And as we lay down 3- to 5-year strategy, you see extremely do in the industry silicon metal, then also we were the poly, I think 1,000 semiconductor products is welcome our — are start production starting, I think, Q3. So our strategy didn’t change. Of course, we are looking at other opportunities, maybe overseas, maybe downstream. But right now, we will announce there really.
Unidentified Analyst: Okay. And my next question is do we consider to go in private because we have a lot of cash and this cash maybe somehow cover our market cap. So do you consider to go private?
Longgen Zhang: I think privatization — with going to privatization is not management team to make decision and we have to go through the whole shareholders. But definitely, one thing is clear, I think the valuation between Asia and U.S. share is — the difference is higher. So right now, we only have a channel is going to throw Asia to declare dividends to buyback the U.S. shares. So it’s anti-diluted. As you can see, right? So I think we think that the price can continue as the variation in U.S. market can continue to go up. But I want to remind you, by the June 23 — July 23 next year does mean after we IPO in Asia after 3 years, the U.S. company holding 73% of Asia, we can sell it, start reselling. So that means we have another channel.
