In response to the question of when the agrochemical market channel may see an inflection point, Adama A (000553) stated at the performance briefing on March 27 that the specific situation of each market is different, but overall, 2024 is a transition year, and the company believes that the overall global inventory level will return to the normal historical level by 2025. 2024 will be a year full of dynamic changes, and overall channel inventory is expected to be above the historical average. Also, with regard to future drug price trends, Adama A said that among original drug manufacturers, Adama, as a backwards integrated company, can add value to products by introducing new technology, but it is difficult to predict future price trends for original drugs. There will be no significant improvement on a large scale this year. China still has many stocks of original pharmaceutical products. Such a dynamically changing market makes it difficult to predict. Currently, the industry is indeed in a unique market situation that has never been seen before.