In recent years, with the increasinglymature and innovative technological level of China's photovoltaic powergeneration industry, the cost of photovoltaic power generation hassignificantly decreased, and the industry has gradually entered the era ofaffordable grid access. According to data, from January to August 2023, theinstalled capacity of photovoltaic power generation in China was 505.41 millionkilowatts, a year-on-year increase of 44.4%. The newly installed capacity ofphotovoltaic power generation is 113.16 million kilowatts, an increase of 68.69million kilowatts year-on-year.

The development of the photovoltaic powergeneration industry has continued to bring forth new technologies in variouslinks of the industry chain, such as diamond wire cutting technology and thecontinuous improvement of the conversion efficiency of PERC batteries, whichcontinuously promote the improvement of photovoltaic power generationefficiency and reduce the cost of photovoltaic power generation. According toCPIA statistics, the average conversion efficiency of PERC single crystal andpoly crystalline batteries reached 23.20% and 21.10% respectively in 2023,which is significantly higher than the 21.3% and 20.0% in 2017; The averageconversion efficiency of TOP con batteries, hetero junction batteries, and XBCbatteries can reach 24.5%, 24.6%, and 24.5%. In the foreseeable future, thesituation where the grid price of photovoltaic power generation is lower thanthe price of traditional coal-fired units will no longer be long-lasting, and lowerelectricity costs will continuously increase the market demand for photovoltaicpower generation, thereby expanding the industry market space.

Benefiting from the development of digitaltechnologies such as cloud platforms, big data, and the Internet of Things,photovoltaic enterprises can achieve energy digital transformation andinnovation driven by digital technology. With the integration of digitaltechnology and the photovoltaic industry, intelligent software systems orhardware devices such as "smart energy systems", "intelligentoperation and maintenance platforms", "photovoltaic power stationcleaning robots", and "unmanned aerial vehicle intelligent inspectionsystems" have emerged in the photovoltaic field. The digital applicationof the above-mentioned photovoltaic industry can achieve effects such asimproving the efficiency of power station construction, visualizing powerstation operation, and reducing power station operation and maintenancemanpower, thereby comprehensively reducing the cost of photovoltaic powergeneration. Photovoltaic digitization is an important trend and opportunity forthe future development of the photovoltaic industry.

For us, Multifit, we need to seize thisopportunity and take advantage of the continuous expansion of the photovoltaicmarket to introduce our photovoltaic equipment and photovoltaic cleaningequipment to our potential customers, so that they can familiarize themselveswith the performance and quality of our products, and ultimately place successfulorders. And actively participate in domestic and international exhibitions,such as the Canton Fair and the RE+ exhibition held in Las Vegas September, Andthe All Energy Australia, new energy exhibition held in Australia October toseize this opportunity for our end customers to experience our products in thefirst place.