Paineng Technology's progress in the sodium battery business: Sodium batteries will be mass-produced from pilot production in 2024. Paineng Technology's "Quality Improvement, Efficiency Increase, Return to Benefit" action plan for 2024 reveals that sodium ion battery products will transition from pilot production to mass production, sodium energy storage system products will achieve MWh level demonstrations, and the "sodium replacing lead" business module will achieve batch shipments of hundreds of MWh. Overseas markets: Sodium ion battery products have obtained relevant certifications from the German TÜV Rheinland Group and have reached testing intentions with numerous customers, laying a technical foundation for energy storage applications with different technology routes; Customized products for the US energy storage market have achieved phased results. Domestic market: In the second half of 2023, a 200KWh commercial and industrial energy storage integrated cabinet product based on square aluminum shell batteries was launched, and the product has now achieved scale shipments in multiple regions of China.