Fusen Chen: Okay, so David, I think, if you remember I think Q3 €˜22 we’re talking about we have big lot of $80 million, so this $80 million majority of this $80 million will be shipped within the €˜23 and last quarter Q4 over ’23, we mentioned that we identify for the next couple of years, we probably have opportunity until we move into TCB. So total of about $300 million up to ’25. So this $300 million majority will be shipped in €˜24 and ’25, right? So I think we expect probably when we exit €˜25, this TCB and in all dedicated AP probably will only will be about $20 million or higher. So I hope, I used a different kind of angle to answer your questions.
David Duley: And I’m sorry I didn’t — $20 million is that a quarterly run rate or. I didn’t quite hear what you said there.
Fusen Chen: No, I mean $200 million for our dedicated advanced packaging.
David Duley: Okay. And then a final question from me and I think maybe Charles was talking about that was talking about this, so you mentioned a new application for LUMINEX, and I’m assuming that’s outside of mini or micro-LED or could you just elaborate a little bit about what the application is.
Fusen Chen: So LUMINEX actually is advanced display is a laser based of our transfer technology. We actually participate both in mini and micro-LED and we also involved in both big lighting, big light and that direct emissive application.
David Duley: Okay, thank you.
Operator: Thank you. Next question today is coming from Hans Chung from D.A. Davidson. Your line is now live.
Hans Chung: Yes. Thank you for taking my questions. First, I want to clarify the changes in terms of the FY €˜23 revenue and so, I hear we had some impact from China COVID, so now we’re kind of comfortable with $840 million revenue versus $890 million last quarter. So the $50 million gap is that purely driven by just because of the COVID situation.
Fusen Chen: I think the majority, you see our — during COVID most of the people get sick, so they, may be other people go back to work, the capacity reduced, some projects being delayed. So we expect the impact in Q2 and then maybe partial over Q3. So the majority, actually was ball bonder related.
Hans Chung: Got it. And so, the demand wise basically, there is no change in terms of the demand.
Fusen Chen: Right, I think fair to say this COVID caused a short-term weakness, but in the long-term it’s fair to say probably this won’t be observed in €˜24. So this is like government, I think there is new forecast actually reduce €˜23, but actually they believe €˜24 is a bigger year.
Hans Chung: Got it. And then can you also elaborate more on the strength in the wedge bonding business and is the, how, I mean how did that perform so well. Does that come from the EV or just overall automotive market and how is that trending I mean in the near future, given, it seems like we have seen some weakness in the EV market demand right?
Fusen Chen: I think EV is one of them and in general, I think wedge bonding is fall in high current devices, right? The ball bonder is low current, so there’s rather related ball, semi grows and EV, I think is a big part of the contribution. So compared to like a previous cycle I think our wedge bonder, compared to previous cycle actually we reached a record high in 2022, and even up to €˜23 at this moment actually very strong.
