Hu Xiao Ming : Yes, so you’re correct. So, by the end of the Q1 of this year, roughly aggregate of 10,000 pieces of the golf carts will be delivered to our external customers.
Arthur Porcari: Okay. What about for the full year? Do you think — could you give us any type of what’s your target goal right now based on what you see on the horizon?
Hu Xiao Ming : So, for the fiscal year 2030, we expect the sales during this year roughly 20,000 to 25,000 pieces of that golf carts will be sold in the U.S. market because we have more in-depth discussion and cooperation with lows directly, so that can facilitate the sales to jump up in this year. So, but your answer, there will be 20,000 to 25,000 pieces of the golf carts to be sold in this year.
Arthur Porcari: That’s great. That’s an incredible number. That will put you probably is either number two or number three in golf cart sales in the United States in your second year. That’s great news, I guess for us. Miles at one point in time is the actual sale booked on our books like you’ve delivered stuff to SC, that hasn’t — if it hasn’t been brought out to the end user, I guess, it doesn’t book then. So, this quarter, even though 10,000 were effectively done and shipped, I guess, up until the end of last year, you only booked 7,000 of it. So what point does that actually happen?
Hu Xiao Ming : Yes. So, our sales is recorded on the consolidated financial statements based on the sales from the SC that we made to the external customers. And the revenue is recognized when our performance obligation is completed. So primarily, the deliverables is complete based on the shipping terms.
Arthur Porcari: Okay. So, I guess, what I’m saying when the end user — it’s not like plus 90 or plus 30 or plus 60, are they built immediately like when you’re dealing with? Is there a lag time when you’re dealing with some of these biggest Lowe’s?
Kewa Luo: I don’t get your question.
Arthur Porcari: Alan probably does. As far as us getting paid, is — the sales when…
Kewa Luo: So plus, how many days we get actually paid, right?
Arthur Porcari: Right, right.
Hu Xiao Ming : So, for our current cooperation with Coleman, we actually have the advanced payment from them for ourselves. But as for the cooperation with Lowe’s, the credit terms will be roughly six days primarily.
Arthur Porcari: six days, it’s excellent.
Hu Xiao Ming : Yes, 60 days, right.
Arthur Porcari: Okay. Let me wrap this up over here then. Obviously, the loss in the quarter was a bit surprising. But again, I’m sure it will be clarified in the 10-K. because Mr. Hu’s made it very clear why you didn’t want to compete in the overall business of EVs is compete and something you lose money at. So, I would have to believe that the strong addition of this new product line in the fourth quarter, there must have been something else that was written off or such?
Kewa Luo: What’s your question?
Arthur Porcari: You do not hear me? Just a bit, somebody was trying to call me so the line. Okay. Let me try it saying again. Mr. Hu has made it very clear that he does not like to get in a business that he loses money, and that’s why he — even though he was the big first mover in the industry, he decided to an EV industry, he’s decided to look for other sources for the time being. So, the fact we took this sizable loss in the fourth quarter leads me to believe there must have been some sort of special write-down or something that caused it. And — but we haven’t seen the 10-K yet, because normally, you get it out before the call starts, so I’m going to ask that as a question. Why did we take such a big loss in the fourth quarter on this new product line?
