Huahong Technology said at the performance briefing on May 10 that the introduction of the “Action Plan to Promote Large-scale Equipment Renewal and Consumer Goods Trade-In” policy will have a positive impact on the development of the company's business. The policy mentions that “recycling actions should be implemented”. The company has long been deeply involved in the circular economy industry. While continuously consolidating the company's leading position in the renewable resource processing equipment industry, it has vigorously laid out recycling and dismantling of end-of-life motor vehicles and recycling resources such as scrap steel and rare earth waste, and strives to build a circular economy industry chain. At the same time, the policy mentions “in conjunction with promoting urban renewal and the renovation of old neighborhoods, focusing on residential elevators, water supply, heating, gas supply, sewage treatment, sanitation, urban lifeline projects, security, etc., to promote renewal and transformation by classification.” It will also have a positive impact on the company's elevator parts business. The company will continue to pay attention to relevant policy developments, seize industry development opportunities, and strive to enhance the company's profitability and resilience to risks.