Ming Yang: So, Alan, on a high level, we will have full production on our Xinjiang facility, which is around 130,000 metric tons. And then also full production on our Inner Mongolia Phase 1, which is also additional 100,000 metric tons. And finally, our Inner Mongolia Phase 2 to start production around mid-year next year. So, approximately based on 100,000 metric ton capacity, around 50,000 metric ton production. So that’s why we think next year, range 280,000 to 300,000 metric tons. Obviously, this is a very preliminary estimate. It’s not an official guidance. And we will have more formal numbers based on when our Inner Mongolia Phase 2 is more closer to completion and start of production. Okay, thank you.
Alan Lau: Understood. It’s very clear. Thanks a lot. I’ll pass it along. Thank you.
Operator: Thank you. Our next question comes from [indiscernible]. Please go ahead.
Unidentified Analyst: Hello, sir. Just so I understand, repurchasing in the last — I like that the total share will finally — decrease finally. I want to ask one more question. The first question is how much more will shares be issued for management compensation plans in the next one year or two years? Will we see US$40 million or something like that as share-based compensation? That’s the first question. And the second question, you have US$350 million or something like that repurchasing last. Last quarter you were stating that you will finish it by the end of the quarter — by the end of the year. So, we’ll be expecting Q4 for you to deploy all of this capital or as much as possible and at an accelerated pace compared to the anterior quarters. So, till now you bought in three quarters like US$300 million. Are you telling us that you will buy US$200 million or even US$300 of what is left in the last quarter, in one quarter?
Xiang Xu: [Foreign Language] [Interpreted] Regarding the share repurchase, yes, I think we can repurchase — based on the rule, we can repurchase around US$220 million to US$250 million in the last quarter, and we will definitely accelerate, we’ll keep that pace. So we will…
Unidentified Analyst: Okay. And how many in quarter four — I don’t know the exact number, but if you have it on the top of your head or something around that, how many shares will be issued for share-based compensation? If I’m not wrong, this quarter it was like US$45 million. But last quarter, so Q2, you had like US$120 million or something like that. You had a larger one-time. So, my question is, for Q4, how many shares will be issued for share-based compensation for management?
Ming Yang: Around — in aggregate around 350,000 shares.
Unidentified Analyst: 300,000 shares something like that. So that’s 300,000 times US$24 today’s price, it’s — okay, not even US$1 million in share-based compensation, okay. Last question is — actually I have two questions left. You stated in last quarter and I really like that in the transcripts, in the earnings call, you stated in August that you will consider issuing shares in 2024 in the Shanghai-listed shares, the 75% ownership Daqo New Energy has, and you would consider selling shares there to buy shares on the New York Stock Exchange. So, my question is, when will that be available? Is it two years after the IPO or in what month of next quarter — next year, sorry?
Xiang Xu: [Foreign Language] [Interpreted] Yeah. We will — yeah, thank you for the suggestion. And we will consider that proposal. And in fact, I think by July next year, we are able to sell the shares in Asia and then use that amount to continue — maybe deploy another share repurchase plan for 2024.
