Regarding the additional tariffs imposed by the US on China, Pang Huayi, CEO of DBS Bank (Hong Kong), stated that the impact of the relevant tariffs on China's GDP is very small, at only about 0.3%, and believes that the current tariffs have little impact. He mentioned that the bank's performance in non-performing loans was good compared to the industry in November last year. Most non-performing loans in the industry come from sectors such as real estate, while the bank has a higher proportion of non-performing loans from small and medium enterprises. With the possibility of the US imposing additional tariffs affecting inflation, expectations of interest rate cuts have cooled, and it is expected that the US will cut interest rates twice in the second half of the year. He also stated that although the bank expects the real estate market to continue to be soft, the market situation in mainland China and Hong Kong is improving. However, there may still be some companies facing issues, and the bank has been very conservative in managing its investment portfolio in the past few years, taking proactive actions to reduce potential vulnerable companies, describing the situation as basically stable now. Chen Lishan, CFO of DBS Bank (Hong Kong), mentioned that due to the large interest rate spread between Hong Kong and mainland China, more people may choose to borrow in mainland China. The bank expects the US to cut interest rates twice in the second half of the year, and interest rates may remain at a high level. Therefore, it is expected that there will not be much progress in loan growth in Hong Kong this year. She also pointed out that the bank has a lower proportion of residential mortgage loans compared to its peers, with residential mortgages accounting for 7% of the bank's mortgage loans in Hong Kong.