Hu Xiao Ming : Yes. So actually, if you look at our financial statements for the last three quarters, we have roughly 3 million of the net loss. So, the net loss, we have the whole year is roughly $12.8 million. So that’s trend for the previous whole year. Even though our sales for the golf carts is doing pretty well, plus — but then we have some adjustment like, for example, some impairments and some other items that we incurred for this year, plus we no longer have the gain from the self-equity fixed assets from this year. That’s why we have such the net loss incurred for the whole year. And of course. you can refer to… Yes. Plus, you may consider the shutdown of the China, especially November, December, there’s the high peak of the COVID infection in the China market. That’s why that has some impact to our operations as well. But I believe that’s over, so it will be better upcoming.
Arthur Porcari: That’s right. Okay. Well, anyway, it’s great to hear about the 22,000 to 25,000 units expected for this year. I’d say that’s quite a number in this industry. And a good job by all that managed to get that done. So next year, we have the same annual meeting, I think it will be a lot different picture for everyone. Thank you very much. Appreciate hard work, and I’ll pass them here on.
Kewa Luo: Thank you. Yes, we have time for one more question.
Operator: Our next question is coming from Francis Forte, a private investor. Your line is now live.
Unidentified Analyst : Kandi announced two important agreements in October of 2020. And I would like to know the current status of each of them. The first one is the strategic agreement with State Grid EV Services company to cooperate on Cubex on battery exchange. And the second one is the agreement with CITIC Securities to initiate the process of doing an IPO on the Kandi Smart Battery Swap company — subsidiary company on the tech exchange, the Star exchange. What is the status now of both of those agreements, please?
Xueqin Dong: So, for the current market for the EV market in China, certain electric vehicle companies, they have faced the market shares at a huge loss expense. So, our company think that as long as the market has not reached the state of the healthy and development is not too wise to participate in this kind of competition with our own financial cost. That’s why we try to just this way and see until the condition in the economics for the EV market becomes more healthy. And that’s why we try to live it hold up for our cooperation with the State Grid company.
Unidentified Analyst : Okay. So, the State Grid agreement is on hold?
Xueqin Dong: Well, let’s put it this way. It’s not really on hope per se, but it’s progress slowly. And then now we are primarily just focused in the market of Hainan. And in this coming year, we plan to have one or two more locations to be added in our Battery Swap process, but the amount may be not material.
Unidentified Analyst : Okay. And is CITIC investments still committed?
Xueqin Dong: So, the agreement with CITIC is still effective at the moment. So yes, there is still on.
Unidentified Analyst : Okay. Very good. Thank you, and congratulation, for the great year.
Operator: We have reached the end of our question-and-answer session. I’d like to turn the floor back over to Kewa at this time.
Kewa Luo: Thank you, operator. Thank you again for attending today’s conference call. If you have any more questions, please feel free to contact user or us directly via the e-mail ir@kandigroup.com. We look forward to updating you on our next conference call. This concludes our call for today. Thank you. You may now all disconnect.
Operator: Thank you. That does conclude today’s teleconference and webcast. You may now disconnect your lines, and have a wonderful day. We thank you for your participation today.
