Ming Yang: Basically, I think next month, the Asia company, we have shareholders meeting, and at that time, we’ll announce the — I think dividends declare. But we also — I cannot give you a detailed figure. But as we already announced, we were buyback basically — we all I think U.S company own 73%. And the buyback is US$700 million. So you can calculation. We believe between 35% to 40% our net profit were distributed as dividend. But I think .
Alan Lau: Thank you. And my last question here on the PCAOB investigation, how do you and will this be a positive catalyst to the company?
Longgen Zhang: I think the four bigger firms, I think two is already basically, of course, the report here is not on the website, PCAOB verified. But I think they’re already starting, I think Deloitte and PwC in right now. I think the government — Chinese government is very and we also very open as a public company. I don’t think any challenge so far. I think hopefully we may, the PCAOB can they are regular, I think regularly . So, we believe I think the bigger four firms in China will be okay.
Alan Lau: Understood. Thanks a lot for taking my questions. I will pass it on. Thank you.
Ming Yang: Thank you.
Operator: The next question comes from Gary Zhou from Credit Suisse. Please go ahead with your question.
Gary Zhou: Hello, management. Thanks for taking my question. So just a two quick follow-up on the — on the share buyback program. So firstly, I want to ask in terms of your timing, so when do we expect to receive the dividends from Asia, from Asia, Asia, Asia, such as a subsidiary? And secondly for biotech. So is it possible that we will consider to do some small biotech before receiving the probably going to be after we receive the dividends on . And lastly because I did a simple calculation, so that’s almost 20% our current market cap and probably even bigger in terms of our . So just wondering, does this imply that how to relatively aggressive?
Longgen Zhang: Gary, let me answer the first question, then Ming answer the second question, okay. Basically we cannot complain anything in the marketing, right, market always correct. So right now, . We also didn’t care we know this is below our I think equity value. So we just finished I think reached US$140 million, basically I think that could subsidiaries in . The money is deposited to China Merchant Bank, then we got the loan I think it’s around US$140 million. So, yes, in this window open, we will buyback the amount is around US$140 million. Then we already declare the dividends I think next month. There will be $700 million. Then you take US$140 million you have like US$560 million left, that’s for the next window. That’s mean, May and June, the window open for buybacks. So basically, I can tell you that there were two window, we’re going to execution our stock buyback pull off. We’re ready to do that. Ming, you answer the second question.
Ming Yang: Yes. So like Longgen has mentioned, right, so I think both our Board and our management team believe our current share price in the U.S is extremely undervalued, it’s trading at huge discount, whether it’s to the company’s cash level or equity value or future potential earnings. I think we announced our results for 2022, you can see our cash generation, or current cash balance on hand, while I think forecast and the expectations of poly pricing for this year, right, given that you’re around US$30 per kilogram. Today in the market, we will continue to generate significant cash flow for further share and likely for future periods because we are the lowest cost producer in the world effectively right with some of the highest quality especially N type products become — likely to become the mainstream over the next year or so, and we are going to be one of the primary supplier of N type poly as well.
