JinkoSolar Holding Co Ltd DR

Hello, ladies and gentlemen, and thank you for standing by for JNCO Solar Holding Co. Limited's second and third quarter 2025 earnings conference call. At this time, all participants are in listen-only mode. After management's prepared remarks, there will be a question-and-answer session. As a reminder, today's conference call is being recorded. I would now like to turn our meeting over to your host for today's call, Ms. Stella Wang, JNCO Solar's Investor Relations. Please proceed, Stella.

Thank you, operator. Thank you, everyone, for joining us today for Zinco Solar's second and third quarter 2025 earnings conference call. The company's results were released earlier today and available on the company's IR website at www.zincosolar.com, as well as on U.S. Wealth Services. We have also provided a supplemental presentation for today's earnings call, which can also be found on the IR website. On the call today from Zinco Solar are Mr. Li Xiangde, Chairman and CEO of Zinco Solar Holding Company Limited, Mr. Zhang Miao, CMO of Zinco Solar Company Limited, Mr. Pan Li, CFO of Zinco Solar Holding Company Limited, and Mr. Charlie Tao, CFO of Zinco Solar Company Limited. Mr. Li will discuss Zinco Solar's business operations and company highlights, followed by Mr. Miao, who will talk about the sales and marketing, and then Mr. Pan Li, who will go through the financial They will all be available to answer questions during the training session that follows. Please note that today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Security Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, our future results may be materially different from the views expressed today. Further information regarding this and other risks is included in Zinco Solar's public filing with the Securities and Exchange Commission. Zinco Solar does not assume any obligation to update any forward-looking statements, except as required under the applicable law. Now it's my pleasure to introduce Mr. Li Xiangge, Chairman and CEO of Zinco Solar Holding. Mr. Li will speak in Mandarin, and I will translate his comments into English. Please go ahead, Mr. Li.

In the previous three seasons, the global stock price was 61.9GW. The global stock price rose again to the first place. With superior product performance and a leading position in the overseas high-price market, the second-season profit margin was 2.9GW, the third-season profit margin was 7.3%, and the profit margin was significantly improved. What is new is that in the past two years, we have been growing in the field of product development. and are gradually gaining sales. The first three seasons, the total amount of products accumulated has exceeded 3.3 gigawatts. In the next two seasons, there will be a lot of growth and an increase in the proportion of overseas markets. The profitability of the energy industry has significantly improved. Considering the installation, adjustment and reading process of the energy products, the confirmation of the report will be relative. We are confident that with the gradual improvement and continuous increase in competitiveness of the corresponding scale, In the first three quarters of 2025,