Philip Shen: Great. Thanks for all that color, Longgen. It’s really helpful. You mentioned you didn’t sell any poly in December or January. And you said you sold 10,000 tons in February. If you’re producing 10,000, at least are you saying that incrementally you sold another 10,000 and also did — do you still have any of that excess inventory leftover? Or have you already sold it all in the month of February? Thanks.
Longgen Zhang: Basically, I think for the Q1, we’ve given guidance. I think we were — I think sale or the production, new production for the Q1. So end of the Q1, we maybe still have inventory around the 10,010, around okay. But, yes, we were what do we do . Still that’s a stable price, very high price, yes about renminbi like around $220.
Philip Shen: Okay.
Longgen Zhang: In February, okay, we saw more than 10,000, I’m not saying 10,000, more than 10,000. So for March we were selling more than .
Philip Shen: Very good. Thank you. to your bookings, I think on the last call your 90% booked for 2023. You can’t really move much more than that. I was wondering if you can talk through what your contracted for ’23 and perhaps even for 24. And then I have one more final follow-up. Thanks.
Longgen Zhang: Give me the last . I think, for this year, our planning is given guidance is the 190,000 tons to I think tons, right. I think for long-term contracts, we almost cover right now almost covered 90% — more than 90%. So I think we continue — I think working with the client to sign long-term contracts. So majority, I think for ’23, well more than 90%. For ’24, right now is more than if we didn’t have any any capacity expansion. I think we’ve covered at least I think next year 70%. I think the year 2025 we will cover more than 65%. But the long-term contract is a rollover.
Philip Shen: Great. Okay. And then the final question I had was on your cost structure. Q4 was a little bit higher. Just curious I expect your cost structure to . Thanks.
Ming Yang: Okay. Hello, Philip this is Ming. So the increase in cost structure for Q4 compared to Q3 was primarily due to increase in raw material costs, particularly the market costs for silicon metal, as well as increase in electricity rates. So I think, as you know and investor are aware that China actually broadly did see increase in electricity rates across all China, including areas like as well as in Mongolia and Xinjiang as well. And so, so all the costs increase has been fully reflected, say the cost structure for Q4. So, in terms of our cost trends, we do expect overall the cost structure for the first half of 2023 should be similar to our Q4 costs. While after we ramp up our Inner Mongolia facility, we expect our cost to trend down. I think based on our latest internal estimate, we do think, for example, our cost in Q4 for 2023 should be above 5% plus lower than for example, our first half cost. To mean the same silicon metal cost.
Philip Shen: Great. Okay. Thanks very much guys. I will pass it on.
Ming Yang: Great. Thank you.
Operator: The next question comes from from Daiwa Capital Markets. Please go ahead with your question.
Unidentified Analyst: Thanks management. First of all, congrats on the solid of 2022 results and also we deeply appreciate for your encouraging production target for 2023. My first question is on cost. We noticed that there has been some power shortage and . How do you expect it to your polysilicon metal price? And also do you expect that will be cost driven polysilicon price hike? This is my first question. Thank you.
