Unidentified Analyst: Charlie, that’s super — maybe I missed it. Can you provide us your updated CapEx number for ’23? And then also, you talked about like 12 gigawatts for overseas capacity next year. So just wondering if you can provide us the CapEx number and how are you thinking about funding it. Because I think you mentioned like these — the equity or the capital that you raised in China cannot be used in the U.S. So I just wonder how you think about the capital raise here.
Charlie Cao: Yes, yes. And for the CapEx this year, it’s roughly RMB15 billion. And we estimate first half year, we have generated around roughly, let’s say, RMB35 billion — RMB5.5 billion in operating cash flows. And this year, we estimate over 10 billion operating cash flows this year. And as well as we have completed the convertible loans in the second quarter in a year. So we have sufficient cash to support the CapEx. And next year, the oversea capacity is almost — we will complete it by the end of this year. So we don’t foresee any additional cash needs next year for the 12 gigawatts integrated capacities.
Operator: Next question comes from Philip Shen with ROTH MKM.
Unidentified Analyst: This is Matt [ph] on for Phil. Looking at the U.S. market, there is this expectation in the industry that modules made with China poly that was not from Xinjiang could get into the U.S. but we haven’t really been seeing that yet. Do you know what might be taking so long and when non-Shinzen China poly modules made in Southeast Asia might get cleared by CBP?
Charlie Cao: Yes. We — for Jinko, we focus on 100% polysilicon out of China to serve the U.S. market. And just like I said, we are pretty smooth and speed up the process, starting from the third quarter. And for the China-based party and the probabilities order, we are not sure but it’s possible impossible that from Jinko perspective, we will continue. We have set long-term contract with the Tier 1 and the poly makers out of China and we will continue to increase the resource and the volume from the poly producers. And the poly out of China, the volume is roughly 10,000 metric tons which we believe is sufficient to supply the U.S. market. As Tier 1 companies, we can take the advantage and we have the largest integrated capacity, 12 gigawatts, including 75% TOPCon, the N type. So I think we can take the lead in terms of the market share as well as the poly sourcing from the suppliers out of China.
Unidentified Analyst: Do you think it’s possible that non-China poly not made in Xinjiang out or makes it into the U.S.? Just kind of curious on your view.
Charlie Cao: I’m not in a position to make the projections on the judgment. But from the legal perspective, the traceability is — and if you can do but from the implementation perspective from the relevant regulators, we are not sure in their positions.
Operator: [Operator Instructions] The next question comes from Rajiv Chaudhri with Sunsara Capital.
