$XTALPI(02228.HK) What is the biggest short-term risk for Jingtai? The afternoon's movement has already shown it to some extent, which is the direction of the broader market. A-shares are hesitating at 3800, which is determined by the nature of A-shares—they lack the long-term vitality and faith of a bull market. The economic fundamentals, the recovery of the consumer market, etc., all indicate that the economy has not yet reached a turning point. We are still in a difficult process of finding the bottom, and the real estate market is far from hitting bottom. So where can A-shares go? And will there be a crash? This is a short-term concern (this short-term doesn’t mean this week or next week—it could be next week or three months later). If it really happens, what should we do? Actually, this question is worth thinking about. After all, it’s been to 11, and might even go to 15 or 16 in the future, but we hope it can reach 20–30. But on the way to 20–30, can we withstand a drop to 5? I don’t know either.