To conduct business in Brazil, one of the priority markets, CTGI set up the subsidiary, i.e. China Three Gorges (Brasil) Energia Ltda. (CTG Brasil), which has achieved great development through M&A in the past few years. At present, CTG Brasil owns 7 hydropower stations (4 controlled and 3 with equity participation), 11 wind farms and 1 electricity trading company. With business presence in 10 states and a total installed capacity of 6GW, CTG Brasil is the second largest private power generation company in Brazil. In future, we would operate steadily while focusing on value creation to realize long-term development.