Q5 As China continues to pursue high-quality development along a Chinese path to modernization, what opportunities do you anticipate for your business as this process gains more traction? Will you increase investment in China in the coming years? How will you further expand your footprint in China?

SANTENS: We foresee opportunities in green tech, smart manufacturing and rural industrial upgrades. We'll boost investment over three years, try to localize R&D for dual-carbon solutions, and expand into new sectors via partnerships. Our "East-to-West" supply chain strategy will deepen integration with China's high-quality growth agenda.

PAN: Guided by the core principle of "rooted in China, serving China, and nurturing talent in China", Huntsman Group has been cultivating its local presence in the Chinese mainland for over three decades. To date, Huntsman has accumulated investments exceeding 15 billion yuan ($2.06 billion) in China, making the country one of its most important global markets. Looking ahead, as China continues to pursue high-quality development along the Chinese path to modernization, Huntsman sees significant opportunities for business growth. The expansion of the Chinese market provides the conditions for us to deepen our presence and strategic planning, and we have made new investments accordingly. Huntsman remains firmly confident in the future development prospects of the Chinese market. We firmly believe that, leveraging China's vast market size, continuous innovation vitality and cost advantages, the overall profitability of the China region will remain robust. Huntsman will continue to deepen its localization strategy, optimize its industrial layout in China through technological innovation and industrial chain integration, and strengthen its market position in the fields of polyurethanes, advanced materials and performance products. These initiatives not only reflect Huntsman's long-term commitment to the Chinese market, but also demonstrate its determination to support China in achieving green, low-carbon and high-quality development.

ZHU: China's digital economy continues to thrive, and we are committed to expanding our investment and localized services in the market. By leveraging real-time machine learning, we empower Chinese enterprises to scale their international presence and drive greater success. Moloco has seen tremendous growth in China, and our goal is to further expand our ecosystem and deepen partnerships with local businesses. Looking ahead, we remain dedicated to enabling sustainable growth for our partners in China and beyond. Given the abundance of AI/ML talent in China, Moloco plans to recruit further local experts for our team. We aim to collaborate with these professionals to drive innovation and support our growth in the Chinese market.

SONG: As China pursues high-quality development, BSH anticipates significant opportunities for our business. This process emphasizes the development of advanced R&D centers and high-end manufacturing — areas with which BSH's growth strategy is fully aligned. Our focus on innovation and sustainability positions us well to contribute to and benefit from China's high-quality development. We will further expand our market presence in China by reaching more consumers in lower-tier cities and by continuing to innovate our product offerings, as well as collaborate with local partners to achieve customer success, including distributors and retailers, to enhance market penetration. We also launched our own livestreaming house in China in 2023. This platform allows us to interact with consumers, showcase product advantages and maximize online conversions.