Thanks, Wangqi. Welcome, everyone, to Parade Technologies 2026 Q1 webcast investor conference.

Parade Technologies 1st quarter 2026 consolidated revenue was $126.14 million US dollar, and the net income was $16.73 million US dollar. Its basic and fully dilute after-tax earnings per share were 21 cents US dollar and 21 cents US dollar, respectively.

These results compared to consolidated revenue $126.23 million US dollar, and the net income of $20.19 million US dollar, or 25 cents US dollar and 25 cents US dollar per basic and fully diluted share in the year-ago quarter. In US dollar, the 1st quarter revenue increased 0.74% sequentially, and was down 0.07% year-over-year.

The gross profit in the 1st quarter of 2026 was $50.83 million US dollar, a decrease of 3.41% from the previous quarter, and a decrease of 5.38% compared to the same quarter of last year. On February 10th, 2026, Parade announced the production availability of the TC3408 and the TC3410 devices, the industry's first single-chip touch with Tcon embedded driver solution for the WXGA resolution mainstream notebook market.

These devices deliver extremely narrow panel borders and Tcon PCB form factors to enable ever-thinner notebook designs at cost-effective price points. TC3408 and the TC3410 incorporate the latest power-saving features of eDP 1.5 for unmatched logic power performance at up to 120 Hz display refresh rate.

The devices combine Parade's broad portfolio of patented touchscreen technology, and market-proven eDP Tcon, in-cell, and the high-speed signal technology to provide excellent picture quality and responsive touch performance. On February 12th, 2026, Parade announced the sampling availability of the TC3410AS device, the industry's first single-chip touch with Tcon embedded driver solution with integrated active stylus support for WXGA resolution.

This new device drastically reduces the silicon, hardware, sensor cost, and the logistic complexity associated with adding active stylus capability to existing touchscreen panels. The TC3410AS device combines Parade's broad portfolio of patented touchscreen technology, and market-proven eDP Tcon, in-cell, and high-speed signal technology to provide excellent picture quality at 120 Hz display with responsive 240 Hz active stylus performance.

On March 4th, 2026, Parade introduced the availability of two new quad-channel linear re-drivers to support both 224 Gbps and 112 Gbps ethernet applications for server, storage, and the high-performance AI scale-up data center cable use, with industry-leading linearity and the best possible group delay, particularly when there is a line-rate adjustment. The PS9524, PS9514 ethernet linear re-driver provide programmable EQ boost up to 25 dB, 22 dB, while operating from a single 3.3V supply.

Key parameters for the HPC, AI data center include low power and low latency, making retimed cable more problematic. With its small form factor and the low power consumption, the PS9524, PS9514 are optimized to fit existing metal shells of various form factors without the need for additional heatsink.

The advanced linearity allows the data centers to trade off extend cable distance versus thinner cables to reduce routing and the system thermal complexity. On April 2nd, 2026, Parade announced the availability of PS8651B, DP 2.1a HBR3 1-to-2 MST hub controller for automotive accessories and video displays designs that need DP or eDP port expansion.

It adds to Parade's DP MST hub solutions, which include the PS8650, DP 2.1a UHBR20 1-to-4 MST hub controller already on the market. The PS8651B is compliant with VESA DisplayPort 2.1a and eDP 1.5 specifications up to HBR3, or 8.1 Gbps per lane link rate up to four lanes.

It is AEC-Q100 Grade 2 available, -40 to 105 °C ambient temperature qualified for automotive applications. Based on the current business outlook, Parade is providing the following guidance for the second quarter of 2026: revenue is between $127 to $141 million US dollar; gross margin is between 40% to 44%; operating expense is between $33 to $36 million US dollar.

各位投資界的朋友大家好，午安。歡迎大家來參加譜瑞公司 2026 年第一季線上法人說明會。首先由我跟各位報告譜瑞公司 2026 年第一季財務數字。本公司 2026 年第一季合併營收為美金 1 億 2,614 萬元，稅後淨利為美金 1,673 萬元，除權後基本與稀釋每股稅後盈餘為美金 0.21 元，約當新台幣 6.77 元，及美金 0.21 元，約當新台幣 6.73 元。而去年同期合併營收為美金 1 億 2,623 萬元，稅後淨利為美金 2,019 萬元，除權後基本與稀釋每股稅後盈餘為美金 0.25 元，約當新台幣 8.38 元，及美金 0.25 元，約當新台幣 8.33 元。 2026 年第一季合併營收較前一季增加 0.74%，較去年同期則減少 0.07%。在營業毛利方面，本公司第一季營業毛利為美金 5,083 萬元，較上一季減少 3.41%，較去年同期則減少 5.38%。西元 2026 年 2 月 10 日，譜瑞公司宣布 TC3408 與 TC3410 晶片正式量產供應。此二產品為業界首款針對 WXGA 解析度主流筆記型電腦市場推出的單晶片觸控與時序控制器整合驅動器解決方案，可實現極窄邊框面板與輕薄化時序控制器印刷電路板設計，協助廠商打造更輕薄的筆記型電腦產品，同時具備高性價比優勢。

TC3408 與 TC3410 整合譜瑞廣泛的觸控螢幕專利技術，以及經市場驗證的 eDP 時序控制器、內嵌式顯示屏與高速訊號技術，可提供卓越的畫質與靈敏的觸控效能。西元 2026 年 2 月 12 日，譜瑞公司宣布 TC3410AS 晶片正式開放樣品供應。該產品為業界首款整合主動式觸控筆支援功能的單晶片觸控與時序控制器整合驅動器解決方案，專門針對 WXGA 解析度市場設計。這款全新晶片大幅降低了在現有觸控螢幕面板中新增主動式觸控筆功能所需的晶片、硬體、感測器成本，同時減少供應鏈的物流複雜度。 TC3410AS 整合譜瑞廣泛的觸控螢幕專利技術，以及經市場驗證的 eDP 時序控制器、內嵌式顯示屏與高速訊號技術，可在 120 Hz 顯示更新率下提供卓越畫質，並具備 240 Hz 的高回應速度主動式觸控筆效能。西元 2026 年 3 月 4 日，譜瑞公司宣布推出兩款全新四通道線性中繼器，可支援 224 Gbps 與 112 Gbps 乙太網路運用，專為伺服器、儲存設備與高效能 AI 擴容資料中心的線材應用所設計。譜瑞 PS9524、PS9514 乙太網路線性中繼器擁有業界領先的線性度以及極佳的群延遲表現，尤其在進行線路速率調整時，可提供高達 25 dB、22 dB 的可程式化等化增益，並採用單一 3.3 伏電源供應供電運作。高效能運算人工智慧資料中心的核心關鍵參數包含低功耗與低延遲，這也讓具備重新定時功能的線材面臨更多技術挑戰。

PS9524、PS9514 具備小尺寸封裝與低功耗優勢，經最佳化設計後可直接適配現有各種規格的金屬殼體，無需額外配置散熱片。其先進的線性度特性讓資料中心得以延長線材傳輸距離與採用更細線材之間取得平衡，進而降低線材佈線難度與系統散熱複雜性。西元 2026 年 4 月 2 日，譜瑞公司宣布推出 PS8651B DP 2.1a HBR3 1-to-2 多串流傳輸集線器控制晶片，專為需要擴充 DP、eDP 連接埠的汽車周邊配件與影像顯示產品設計打造。該產品加入譜瑞既有的 DP MST 集線器解決方案陣容，旗下已量產上市的 PS8650 DP 2.1a UHBR20 1-to-4 MST 集線器控制晶片亦屬此系列。 PS8651B 全面相容於 VESA DisplayPort 2.1a 與 DP、eDP 1.5 規範，每通道連接速率最高可達 HBR3 8.1 Gbps，最多支援四通道傳輸，並已通過 AEC-Q100 Grade 2 車用認證，可在 -40 °C 至 105 °C 的環境溫度下穩定運作，完美契合車用領域的需求。基於目前對 2026 年第二季營運的展望，我們預期合併營收為美金 127 至 141 百萬元，合併毛利率為 40% 到 44%，合併營業費用為美金 33 到 36 百萬元。

It is my presentation for the 2026 Q1 financial results. Now I transfer to CEO Dr.

Jack Zhao to answer your questions. Wangqi, you may begin.

Can you hear me? Thank you for taking my question.

Yes, I can hear you.

Hi, Jack, and also Kuo-Wei and Yo-Ming. My first question is kind of housekeeping.

Could you also break down the first quarter revenue by business?

Thank you. In the past Q1, our DisplayPort or DP was slightly above 30%, our PS or high-speed category was above 50%, the TC or source driver was below 10%, and the TT include our TTED was close to 10%.

That is very clear. Thank you, Jack.

The second one is about the PC market outlook. Do we have an update regarding to maybe this year's estimate or year-on-year growth or decline?

Thank you.

I think that since the coming new year, and it has been report or it's a factor, memory price increase dramatically. That does cause the trouble to PC and notebook the area, as the increase of memory cost the system price increase.

Many research report and also had updates. We also check with our OEM customers, and it's getting lot more the kind of lower forecast than what it was.

We see the lower forecast in the 2026 compare what we had last Q4 when we do our planning work. The 2026 we will see PC and notebook the unit shipment decrease due to the memory, primarily memory increase, and also due to the war in the Middle East cause depress the demand side.

Got it. Thank you, Jack.

Then my follow-up question is on the gross margin side. It looks like when compared with last quarter, fourth quarter, the product mix improved, but it's not so much on the gross margin side in first quarter.

I'm just wondering if there any kind of impact coming from the wafer price already, or can we attribute this more to the competition?

It's mainly related to the increase of a cost, rather than the competition. I think that in the Q1 the margin as we forecast in the Q4, the cost increase really came from OSAT side, and the packaging, and final test, and if you are in the industry and the current situation from the Taiwan OSATs, and increase a lot of price, and not once, not twice, and some of them many times.

We're facing the challenge the environment to manage the manufacturing cost. We're gradually also in the Q1 to see fab side, especially the foundry, China side, and but we cannot use them many of China side.

The fab increase is to us it's not that significant at this moment, but the back-end OSATs did increase quite a lot. That's what we headed the forecast, the margin increase.

That's the current operation environment.

Thank you, Jack. Maybe my last question is about the forward outlook on the gross margin.

Seems that there could also be some foundries joining the price hike going forward from second quarter or second half. How should we expect about your pricing absorption on the product?

Then also how should we think about the gross margin impact in the upcoming quarters?

As the our manufacturing cost increase, and we've been forced to adjust our price, product price. We did do selective product, since we have some of our product has embedded the flash there.

In the Q1, we did in the late of Q1, we did increase some of selective product the price. Moving forward, and as our competitor all are already adjust their price or increase their price, we also consider to have selective product which forced by our manufacturing the cost increase to do adjustment.

We provide the guidance. We will treat this gross margin guidance very seriously.

Hopefully as the product mix getting better with our new price, the Q3, Q4 might can slightly improve. That's what we expect.

The whole dynamic really is going to see the manufacturing side increase, and how much. We're also doing diversify our back-end to the OSAT side to the other regions, which may provide a more stable price the environment.

That's what we are current thinking, and what we are current the operation towards those direction. We also implement a few the our own measures to improve our gross margin.

Those are gradually will coming to effect.

That is very clear. Thank you, Jack, and I will go back to the queue.

Thank you.

Hi. Can you hear me?

Yes, perfectly.

Hi, Jack. I would like to know about I think the first one is ASIC-like projects.

How is your confidence level now? I think I remember second half last year you say that 6 months later we will know better.

Then how do you think about that, and do you still think that visibility for those projects into next year still improving?

We had implemented multiple ASIC-like project, and in fact, we are very busy on the those big projects, and most of our engineering resource are designated to those area. Some of big project will take almost 100 engineers to do.

We are very busy and to do those the project, and we hope and so far so good. Actually the project is moving smoothly in terms of milestone, in terms of the design the milestone achieved.

Looks good, and we hope that we're on time to tape it out and deliver to customer afterwards, and that will be a major contribution to our 2027 the revenue.

If I remember right, I think you mentioned maybe next year revenue with this ASIC-like multiple projects can maybe back to pre-COVID level?

Those will be after tape-out, because those are deep sub-micron parts. After tape-out some times, and hopefully the late of the second half, it will be contributed to our the top line and the bottom line.

Second half next year. Supposedly

that's what we let's look at it and by that time I will report to you.

Thank you. The second thing is Spectra7.

I think you also mentioned I think you are developing some driver that customers will not necessarily use a DSP that will consume more power. Can you share with us that how is the progress for for this project after you acquire Spectra7's equipments?

Also how can we see the contribution for those optical projects?

You see, Yo-Min has gone through our announcement. We have two product, 9514, 9524.

One is silicon-germanium high-speed re-driver and achieved speed at 112 Gbps. Another device is achieved 224 Gbps.

Those both are came in with Spectra7, but we as Parade, we brought into the production stage, doing the qualification, on and so forth. Both product are engaged with data center cable designer guy, which typical you can imagine for 1.6T,

and

those using 224 Gbps the chip, and the 112 gig for 800 Gbps the cables. Those re-driver cable are based on our the cable guy taught us, as well as the data center guy taught us, it's useful for 2 m, 3 m application versus the 5 m.

We have design multiple design going on with those cables.

I see. I think your customers are transceiver module maker customers, and they buy this product driver product from you, and then they will purchase maybe laser on their own and then put together.

Those are the copper for copper application,

right?

Those are copper application for the copper cables, yeah.

Copper cable, okay.

Copper cables.

Okay. If it's copper, then I think shortage issue will be less, and then probably we can expect some contribution maybe sometime second half this year?

We hope so. We are doing the qualification with the customers, and hope those will be the let's see the project the continue going, yeah.

I see. Is that CPO, or it's just outside the

Those are just cable, just the cable.

Just cable, okay. I see.

Okay. Also my last question is CPU.

I think we experience some CPU shortage, mainly on the server side, maybe some impact some consumer application. Do you also see that?

If that is the case, then maybe customers will need to buy more from Qualcomm, and then maybe buy more USB re-timer from you? [laughter]

We heard the both Intel and have certain the SKU has a CPU has a shortage, right?

That

maybe they allocate the silicon resource to the AI's the CPUs or GPUs. It's not large-scale, I would think.

We do see some of them shift to the Qualcomm. Yes, it does,

but

not large-scale, I would think. Hopefully this situation might improved.

That was the first quarter we heard something, but I'm not that sure the how big the scale, because the end-market demand due to the DRAM

and

due to the flash increase is the major thing to depress the demand from the PC and notebook. Those one probably less pronounced, and we do see, yeah, we heard some of them model convert to the Qualcomms, yes.

Thank you. It's very clear.

Thank you for my questions. Now back to queue.

Thank you, Jack.

Thank you.

Hi. Thanks for taking my question.

Maybe circling back to the second quarter outlook. I think Yo-Ming already provided the revenue guidance range, but can we have some more comments about the outlook for each product line compared with Q1?

Compare with Q1, our as Yo-Ming in the announcement our two TTED chip, and those are will be significant increase in the Q2. Q1 already ship quite many on the production.

Q2 will ship a lot more. The other area might be the PS parts will continue to kind of uptrend, even though the overall the notebook demand will not be as good as we had thought, but still PS parts are continue doing well.

We also will ship Q2 will ship some parts outside the PC notebook side, for example the automotive will ship more. Those are the few themes.

Thank you. Then probably also want to understand the outlook into the second half, because I think Jack, you previously mentioned that the notebook demand or PC demand seems to be softer than what you have previously expected.

How much visibility do you have into the second half of the year? How should we think the revenue outlook for second half comparing with first half?

I would think that the in terms of our PO receiving for the second half, it's healthy, and meet our expectation in terms of seasonality. The even though the 2026 and in a large picture of PC demand may not be as good as we had a wish, but we do think the second half still will be better than the first half.

For our own business, and we continue pulling some segment outside the PC area will contribute start to contributing in the 2026. Also the late of 2026, we even have some of the driver parts design to the data center the storage side.

It will start to shipping. Those will help on the late of 2026.

I see. Speaking of the data center related product, I think previous one of the investor asked around the business from Spectra7.

I think if I hear correctly that currently you are shipping for cables, but can you give us some idea about what's Parade's opportunity once the transmitting method move from copper into optical, for example in CPO these product lines, what's Parade's opportunity and potential revenue can be coming from? Thank you.

Those optical things to Parade is a longer-term thing for us, and in terms of revenue the opportunity is more on the copper cable. There are two area is driving the cable.

One as we reported and discussed on the ethernet cable, and that's relatively easy to understand. There are another category under data center and now is getting hit up.

Those are the PCIe Gen 6 active cables, and really address the issue that the PCB board with the high-grade, high-speed PCB is getting a lot more expensive, and in some case PCB in the shortage. Many data center, the demand to use a cable for high-speed signal, and the rest of them just use on the PCB can use more lower-grade PCB board.

That's another area working on with multiple customer with our PCIe Gen 6 the re-driver there. That's what we are working on two area.

One is those ethernet, one is the PCIe Gen 6, or later on Gen 7 those kind of cables.

I see. For optical, this is more like several years out from today?

Or it's more like 2027, 2028 we should start to see once copper moves to optical, you will have some exposure there as well?

That's the little bit longer-term, I would think.

Very longer-term. I see.

Got it. Maybe then my last question before going back to the queue is that for ASIC business, can you give us a little bit more color like what kind of categories or products you'll enter into?

Is it more display-related or high-speed like a hub, host, or re-timer? What kind of project you are working with your customer?

I would think those are the high-speed system solution. A few of are related to display.

Maybe one for us a new category is a high-speed system-level chip. It's not re-timer.

I got it. All right, thank you.

Hi, Jack and Yo-Ming. Thanks for taking my questions.

Can you hear me clearly?

Yes. Please go ahead.

Thank you. My first question is a follow-up to your pricing adjustment.

Could we know more details about for which segment or what kind of application are you going to adjust your price? Also are we only passing through the inflated cost, or is there any markup for us to see gross margin improvement [opportunity?]

? Also what's customer's feedback on this activity?

We broadly choose the selective parts, but the Q1 adjustment is more targeted whatever we have a parts flash embedded. That's the successfully.

Customer did not have much of complaint either, because people know the flash device went up a lot. The Q2 adjustment or upcoming adjustment will be targeted pretty broad-based, and not everyone, but product broad-based, and our sales team work with our customer together to present and to let customer understand we've been forced to do those adjustment, and because of cost increase significantly.

Certainly we hope, and pretty much our gross margin is a lagging factor is the manufacturing cost increase, and so that we hope those adjustment price will help us to improve our gross margin and make our business financially sustainable.

Thank you. My second question is regarding the shortage.

Other than CPU, do we see any other component are facing shortage?

I think the shortage all are on the manufacturing side, I would think. You heard a lot of substrate shortage, T-glass substrate shortage, right?

Then in the manufacturing side, you will hear the lead frame has a long lead time, and you may have a test capacity shortage. In terms of components, and besides memory, flash, CPU, I think those are the industry focus.

It's less for the other components, but I would think the IC supply like us, most of them all suffer from the cost increase.

Thank you. My third question is regarding your Standard Plus customer.

We all know that they are growing demand for, for example, some specific series of Mac for applications like OpenClaw. Do we see increases in demand for this part?

I think yeah, we have a device there for their Mac mini, as what you said, the OpenClaw, the sudden uptick. You do see the market they are the purchase lead time getting very long.

They order extra parts, but I'm not that sure how long could sustain those upticks, right? Besides, they have a new product cycle and introduce the low-priced MacBook and the new, and we have a device on the panel side, those are benefit from the uptick of their business.

One thing I do want to emphasize: those OpenClaw phenomena really indicate AI may going to the edge to the consumer space, and it happened now to be the Apple mini, may other device or the Unix or Linux related machine will also can act for those applications. As long as the AI goes to edge, we hope we will be benefit.

I do hear more and more start to AI inference goes to the edge.

Thank you, Jack and Yo-Ming. I will back to the queue.

Thank you, management, for taking my question. I have a question on the automotive end market.

You previously indicated the auto revenue could represent a few percentage of revenue this year. My question is whether there's an update to that expected contribution, and how do you see the outlook of the auto end market in 2026?

Thank you.

Actually, the auto we're doing relatively good, and we had a announcement, Yo-Min gone through, the 8661B, and which already in MP, as we announced. We're in the shipper MP volume now, and multiple customer were using this DP hub, because you have a multiple panel in the automotive, and those DP hub become very convenient.

We continue shipping to the multiple automaker, like whatever the EV car in the US, and the top EV car in China, all using our device, and are pretty high volume. We are optimistic for the 2026, especially second half.

We probably will see more auto revenue. However, that the units of auto revenue are not as the PC type of thing, but it's help for our when the PC demand is not as good as we wish, the automotive will come up may help us to for the overall revenues.

Thank you. That's very helpful.

I will go back to the queue.

Thanks for taking my question again. Just want to follow up on Jack's previous comment about the second quarter or later this year, you will see more contribution from TED, TTED.

Could you give us some more color about the current adoption of these products, and also the competitive landscape, what makes these integrated solutions from Parade that can stand out, and then taking more market share or higher penetration from the industry? Thank you.

The solution itself very attractive, because to lower the cost and make the panel border thinner, and the panel itself thinner. Especially the TTED, which has a significant software integration and firmware integration.

For ourselves, in terms of touch, we have a lot unique IPs. Far on the TTED, we have not seen any competition close to us, as we visit the OEM customers, the panel customers.

They love the solution a lot. We continue expand those TTED to the more general so-called oxide and amorphous solution.

You will see our market share will continue grew. At this moment, for 2026, based on the unit shipment we have, probably we're getting close to the 10% of those kind of level.

With the TTED together, yeah, very close. I would think very close to 10%.

Hopefully next year, you will see that go quickly above that. We're big hope, and we are introduce whole product line spectrum, and you will see more announcement.

We deeply engage with customer, and the integrated with the discrete or traditional Tcon source driver plus touch chip, that's not competitive. We on that front, we work very well, especially TTED, and it's amazing, and we also can support with stylus, and really to the customer there's no much increase at all.

They can use the panel for whatever the purpose. You can do the touch, you can do it without touch, you can do with the stylus support.

Really help them to manage SKU. The major customer are yeah, adopt very quickly.

Thank you. Then I just also want to follow up on the question about the margin as well as the operating expense.

For second quarter gross margin, I think you provided a 40 to 44% range. I just want to get a feeling that given the cost increase, and then you are negotiating with your customer, are you able to fully pass through those costs and maintaining the same margin?

How should we think about the gross margin for second quarter? Is it going to be similar to 1Q, or there should be some upside?

[laughter]

I think this very dynamic, right? You understand, and we hopefully the manufacturing side will not probably at the stage will stop, right?

Overall, we are lagging from the manufacturing the increase, and so we are adjustment talk to customer. Customer need probably will take such a period of time.

I would think by the Q3, Q4, probably will more meaningful to see our strategy, and that's our guidance. We definitely will hit our guidance.

That's helpful. On the operating expense, yeah, I think Q2 guidance is a similar range, but for second half, or further out into 2027, as you have a lot of different project or business continuing to grow, how should we think about the longer-term operating expense?

I would think the operating expense will be very caution, and because our major business on the PC side, and it was not as we had a thinking, we'll be caution. On the second half, on our other business outside the PC side, especially moving forward to 2027, hopefully those will make a contribution more towards our both top and bottom line.

Got it.

Got it. Maybe last question regarding the Standard Plus customer.

I think you have mentioned about the better demand for some of the products this year. Are you seeing any other new opportunities in this customer into next year also is particularly recently they have some management change?

That management change is just very recent, and I have not seen just like you, I read the news, right? We are execute multiple project with them, and in fact in just Q1 we win another project, pretty big project there, and we're in the execution.

We hope, and that's you earn the project, your IP earn the project. Certainly, we're very close to them.

We know each other very well. I would think that your IP, your engineering capability makes it different, and that's whether you could win the projects.

The relationship will help, the proven tracking record help, and but very important, your IP is very important.

Can you give a little bit more color on this? As you mentioned, you won the project in Q1.

Is this for something that is already the end product already out there, or this is something new, or you are just getting into a certain new category, or providing a new chip?

I don't want to [laughter] I don't want to get into I don't want to get into those. I just yeah, we have win some more new project.

When should we expect revenue contribution from this new project, this year or maybe next year?

Those big project, it's always will take more than a year to execute.

Okay. I see.

All right, got it. All right, thank you.

up 現在 ASIC-like 的業務。那之前

Jack 有提到說我們現在這一顆使用 6 奈米的製程，那我想請教的是我們現在有沒有在跟客戶談比方說下一代的產品？那下一代的話，它用的這個製程節點可能會用在哪個部分？那會不會面臨到一些比方說

foundry 這邊產能的一些限制？這是我第一個問題。 我們在用到的是 6 和

3 nm 這些東西。在

foundry 現在比較緊張的 for

AI 的是 2、3 這種

level。 5、6、12 這種

Thank you very much.

Thank you.