Regarding the progress of the IPO, Honor CFO Peng Qiuen said in an interview that the company will complete the shareholding reform by the end of 2024, and has currently hired securities firms, law firms, accountants, etc., and all preparatory work is being actively carried out. However, listing is a combination and mutual choice between enterprises and the capital market. On the one hand, Honor is undergoing various changes and business transformations. On the other hand, listing has high requirements for corporate governance, transparency, and compliance operations. Honor also hopes to improve its corporate governance level through the listing opportunity. In the future, it will choose the right time to go public in combination with the development of the company.