Randy Abrams: Yes, that’s right. How the — like if you had customers need to change negotiation and how well — most of them, I think, are tied to the new capacity, how those are holding in?
Jason Wang: Well, I mean, while the LTA is becoming more of a common practice in our — I mean, for us in the semi industry, because the industry is starting to recognize that semiconductor is essential. To plan the future mutual growth, strategic customers are willing to sign LTA to secure additional capacity. And our strong customer engagement and product pipeline have also demonstrated to us and as well as the customers’ key objectives. So right now, we think the ASP situation is less relevant in those LTA situation. And even with some of the loading consideration, maybe some penalty occurred, but the penalty is not our key objective for those LTA. And at this point, it’s still insignificant as a percentage of our revenue.
Randy Abrams: Okay. And if I just fit one last one on your tax rate, maybe Chi-Tung can address. I think fourth quarter looks like it went up some, so if there was a factor. And then just netting out credits going away, but also the new program, if you could give a view on the tax into the coming year?
Chi-Tung Liu: Q4 was like a — there is a one-off, our overseas subsidiaries with annual remittance policy about the profit, where we took a provision for this potential remittance of the overseas profit. It was mostly on paper, it’s not really happening yet. It’s just a onetime tax provision at the year-end.
Randy Abrams: Okay. And then maybe the forward look, is 15% still the right number?
Chi-Tung Liu: 15% still the right number.
Randy Abrams: Okay, good. Okay. Thanks a lot.
Operator: Thank you. Our next question comes from Gokul Hariharan with JP Morgan. Please go ahead. Gokul. Thank you.
Gokul Hariharan: Yeah. Hi. Thanks. Could you talk a little bit about what is — what you’re expecting now for 2023? Any early reads in terms of the outlook? Your bigger competitor talked about foundry industry being down 3% or so this year, just wanted to hear UMC’s view? And secondly, in terms of Q1, could you talk a little bit about 28-nanometer utilizations. I think overall utilization, you didn’t mention it will go down to 70%. Could we talk a little bit about how 28-nanometer is holding up? Is it holding up better than the overall company utilization?
Jason Wang: Sure. For the 2023 outlook, the 2023 will be a sound year for both semi and the foundry industry due to the deterioration of the global economics, ongoing inventory correction and weaken consumer demand. So we project the semi industry is going to forecast a decline by the low single digit and while the foundry industry to shrink by mid-single digit. And the question about the loading on the 28 nanometer in Q1. In July, in general, the 8-inch loading will be lighter than 12-inch to 30. And we expect 8-inch will operate below the corporate average, while the 12-inch will be higher than the corporate average. For the 28-nanometer —
Chi-Tung Liu: It should be slightly better than the 12-inch.
Jason Wang: Even slightly better than the 12-inch.
