The whirlwind of the Yellow River: the business structure is gradually balanced, and the influence of single crystal price fluctuations is weakened.

With the gradual release of the issuance project, the proportion of single crystal contribution will gradually decline in the structure of the Yellow River cyclone business, and the impact of the decline in single crystal prices on the company's performance will be weakened. In the future, the company's polycrystalline composite sheet and pre-alloy binder business will account for 50% of the company's profit. We are optimistic about the company's growth in the industry chain and business diversification. The progress of the additional issuance project: The company's additional issuance project has been basically completed, and it will enter the production period in June. By then, the company's pre-alloy binder production capacity will reach 12,000 tons, and the polycrystalline composite sheet capacity will reach 12 million pieces. Due to the initial stage of production, it is estimated that the output of polycrystalline composite sheets will be released in this year, and the output of pre-alloyed binder will be released by about 4,500 tons. Next year, production capacity will be basically fully released. The development of single crystal and micro powder business: Although the proportion of business will decline, the status of single crystal as the main business will not be shaken. In the future, the annual growth of about 15% will be basically synchronized with the expansion of the industry. It is expected that the output will reach 2.1 billion carats this year.

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