Time flies, and another year has passed. At this moment of bidding farewell to the old and welcoming the new, I extend New Year wishes to all of you!

2023 is a year of challenges and opportunities. The global semiconductor industry entered a downward cycle, and the market is under severe pressure, compounded by a volatile external environment. The industry's development faced significant challenges. However, as the haze of the pandemic cleared, the continuous reinforcement of domestic semiconductor industry policies, along with breakthroughs in technological innovation and industrial upgrades, China's semiconductor industry forged ahead in adversity, demonstrating strong development resilience.

In this year, we have continued to advance our company's strategic upgrade, clarifying the main direction for future development. We have placed deep emphasis on improving product quality and customer support capabilities, driving stable and sustained growth in our business performance. Throughout the year, we have consistently strengthened operational management efficiency and technological innovation capabilities, establishing our own advantages in key segments. We have actively integrated into the development of the industry ecosystem, attracting top-tier industry capital and deepening exchanges and cooperation with enterprises along the industry chain. We have achieved breakthroughs in critical technological areas such as supply chain enhancement and technology enrichment, greatly expanding and enhancing our company's industry influence and market competitiveness.

Business development remains stable and progressing. In 2023, the company's annual revenue continued to experience steady growth, demonstrating the significant results of diversified expansion. Faced with an industry downturn, the company promptly adjusted its business strategy to solidify its position in the HPLC chip market, ensuring a sustained and solid leading advantage. Key focus was placed on allocating critical business resources to Bluetooth and Wi-Fi chip sectors, intensifying efforts to attract high-end brand customers and explore new application markets. The company also made strides in the edge AI computing platform, deepening its presence in the machine vision and speech recognition segments, enabling breakthroughs in intelligent terminal applications. The company's diversified business layout across multiple fields is forming a substantial growth engine, injecting strong momentum into the continuous development of its business.

Driving product advancement through innovation. Practicing long-term technological commitment is crucial for the company to continuously overcome challenges, iterate on new products, and lead the industry. In 2023, based on accumulated innovations in key technologies such as low-power design, high integration, and communication performance optimization, the company prospectively built several system-level chip platforms that integrate both software and hardware. This foresight empowered more end customers to bring about revolutionary innovations in product applications. Additionally, in the high-end Wi-Fi 6 chip sector, the company successfully broke through the technical barriers of the 2x2 specification and introduced the first 2x2 Wi-Fi 6+BT 5.4 dual-mode chip in the domestic market. This filled several technical gaps in the advanced Wi-Fi chip sector in the country, positioning the company as a fresh force in the domestic high-end Wi-Fi chip field.

Customers acquisition has continued to break through. In 2023, the company always adhered to customer demand-oriented, continuously improved product performance and service quality, and achieved continuous breakthroughs and rapid increases in customer introduction and market performance of each product line brand. In the field of Bluetooth products, the company has introduced more than a dozen well-known brands such as mobile phone manufacturers, traditional audio, and cross-border e-commerce, and has helped 25+ brands to create more than 60 audio products, achieving stable annual shipments of tens of millions. In the high-end digital transmission Wi-Fi product sector, the company successfully secured partnerships with high-end industry customers such as China Mobile, Honor, and TPLINK, becoming a key partner in China Mobile's terminal industry chain. The series of Wi-Fi products have seen large-scale mass production. The HPLC powerline communication chip, as the company's most stable business line, continued to maintain a leading position in the industry in 2023, with shipments reaching tens of millions. The company's core business has entered a new stage, and its influence in the market and industry chain is gradually emerging.

The influence of the brand steadily improves. Brand is a comprehensive reflection of a company's market competitiveness, and the company continues to invest in brand value enhancement with high quality. It has successively won honors such as the "China IC Design Achievement Award," "National Little Giant Enterprise," and "Shanghai Specialized and Sophisticated Enterprise." In 2023, the company also joined the China Mobile Smart Home Industry Alliance and the RISC-V Ecosystem & Industry of China Electronics Standardization Association, actively participating in and contributing to the development of industry alliances, continuously enhancing the company's brand value and industry reputation.

In 2023, we collectively witnessed the dynamic changes in the industry. It was the relentless efforts and continuous innovation of our R&D team, the tireless exploration and high-quality delivery by our colleagues at the forefront of markets and services, and the comprehensive support and meticulous management provided by our operational system that gave us the confidence and determination to overcome challenges and obstacles. In the end, we lived up to expectations and delivered a satisfactory outcome.

In 2024, we will face a series of grim challenges. Our company will continue to focus on the development direction of the national industrial strategy, deepening our leadership in technological innovation, and further expanding our presence in domestic and international markets. We strive to achieve a more precise business positioning and broader market coverage. Fortitude emerges when faced with adversity and hardships. Despite being in the midst of the winter, we should be full of confidence and anticipation, maintaining keen market insights, strong technological innovation, and efficient operational management capabilities. Let us bravely embrace challenges and forge ahead!  

At this moment, the New Year’s bell is about to ring. Once again, I wish you all a happy New Year, a happy family, and a successful career!