Good afternoon, everyone. I'm Pan Xiang, an analyst at Nanhua Hongguan Foreign Exchange. Next, I'm going to give you a preview of this winter hot spot. So this winter hot spot is mainly to talk to you about the consumption of the spring holiday and what we need to pay attention to after the spring holiday. First of all, let's talk about the PMI data released before the Spring Festival. According to the PMI data of the manufacturing industry in January, it dropped by 1% compared to December, and it fell back ...