Quantum Computing Inc (QUBT) 2024 Q4 法說會逐字稿

Greetings. Welcome to the Quantum Computing Inc. fourth-quarter 2024 shareholder update conference call. (Operator Instructions)

問候。歡迎參加 Quantum Computing Inc. 2024 年第四季股東更新電話會議。（操作員指令）

Please note this conference is being recorded. I will now turn the conference over to your host, Rosalyn Christian. You may begin.

請注意，本次會議正在錄音。現在我將會議交給主持人羅莎琳·克里斯蒂安 (Rosalyn Christian)。你可以開始了。

Thank you, and I want to welcome everyone to the Quantum Computing Inc. fourth-quarter 2024 shareholder update call.

謝謝大家，歡迎大家參加 Quantum Computing Inc. 2024 年第四季股東更新電話會議。

Before we begin, I'd like to remind everyone that this conference call may contain forward-looking statements based on our current expectations and projections regarding future events and are subject to change based on various important factors.

在我們開始之前，我想提醒大家，本次電話會議可能包含基於我們當前預期和對未來事件的預測的前瞻性陳述，並且可能根據各種重要因素而改變。

In light of these risks, uncertainties, and assumptions, we should not place undue reliance in forward-looking statements, which speak only as of the date of this call. For more details on factors that could affect these expectations, please see our filings with the Securities and Exchange Commission.

鑑於這些風險、不確定性和假設，我們不應過度依賴前瞻性陳述，這些陳述僅代表本次電話會議發布之日的觀點。有關可能影響這些預期的因素的更多詳細信息，請參閱我們提交給美國證券交易委員會的文件。

On the call today, we have Dr. William McGann, CEO of QCi; and Chris Boehmler, CFO. They will provide an update on the business, followed by a question-and-answer session hosted by both Bill and Chris.

今天的電話會議由 QCi 執行長 William McGann 博士主持；以及財務長 Chris Boehmler。他們將介紹業務的最新進展，然後由比爾和克里斯主持問答環節。

With that, I would like to turn the call over to management. Please go ahead, Bill.

說到這裡，我想把電話轉給管理階層。請繼續，比爾。

Well, thank you, Rosalyn and everyone out there for joining us today. We're extremely excited to share our progress with you after what has been a very busy fourth quarter with a lot of significant operational and financial progress to report to you all.

好吧，感謝羅莎琳以及今天在座的各位嘉賓。在經歷了非常繁忙的第四季後，我們非常高興與大家分享我們的進展，我們向大家報告了許多重要的營運和財務進展。

With a transformed balance sheet and critical advancements across both our quantum solutions and foundry services business, we are really well positioned to scale and accelerate the commercialization of our technology in 2025.

憑藉資產負債表的轉變以及量子解決方案和代工服務業務的重大進步，我們完全有能力在 2025 年擴大規模並加速我們技術的商業化。

QCi has been living and breathing quantum for years now, but one change since we last spoke together is that the broader world has definitely started to take notice to the importance of quantum. This is a really exciting momentum in the industry and especially here at QCi.

QCi 多年來一直致力於量子研究，但自從我們上次交談以來，一個變化是，更廣泛的世界已經開始注意到量子的重要性。這對於整個行業來說是一個真正令人興奮的勢頭，尤其是在 QCi。

For those that are new to our story, QCi is a nanophotonics company and we leverage the non-linear quantum optical properties of a material called thin film lithium diobate to build high performance computing solutions for real-world applications today. That's a differentiator.

對於那些不熟悉我們故事的人來說，QCi 是一家奈米光子學公司，我們利用一種名為薄膜鋰二酸鹽的材料的非線性量子光學特性來為當今的實際應用構建高性能計算解決方案。這就是差異所在。

Our approach is unique in the quantum industry because our technology is available and useful today, while many of the quantum players continue to work on that ultimate challenge of a large scale fault tolerance system that may remain years away. Our focus is in delivering accessible and affordable solutions for quantum enhanced solutions today and right now. So we'll talk about some of those in a moment.

我們的方法在量子產業中是獨一無二的，因為我們的技術今天已經可用並且有用，而許多量子參與者仍在繼續研究可能還需要數年才能實現的大規模容錯系統這一終極挑戰。我們的重點是提供當前可訪問且價格合理的量子增強解決方案。我們稍後會討論其中的一些。

One of the differentiators for our core technology is so-called SWAP-C, which is our ability to deliver superior size, weight, power, and cost advantages and our Dirac-3 quantum optimization machine operates at room temperature, requires no cryogenic cooling. It fits within a standard data rack in a server room and consumes less than 100 watts, which is a fraction of the power required by many competing systems. So these together are advantages -- are critical as the industries that seek important solutions that seamlessly integrate into existing infrastructure while also simultaneously improving computational efficiency. That's kind of our mission.

我們核心技術的差異化因素之一是所謂的 SWAP-C，即我們提供卓越的尺寸、重量、功率和成本優勢的能力，並且我們的 Dirac-3 量子優化機器在室溫下運行，不需要低溫冷卻。它適用於伺服器機房的標準數據機架，功耗不到 100 瓦，僅為許多競爭系統所需功耗的一小部分。所以，這些都是優勢——對於尋求無縫整合到現有基礎設施並同時提高計算效率的重要解決方案的行業來說至關重要。這就是我們的使命。

So we're addressing two very primary market needs right now. The first is our Dirac-3 quantum machine is aimed at solving complex optimization problems in transportation, finance, healthcare, fraud detection, and even in improving the optimization of AI algorithms.

因此，我們現在正在解決兩個非常主要的市場需求。第一是我們的Dirac-3量子機旨在解決交通、金融、醫療保健、詐欺偵測等複雜的最佳化問題，甚至提升人工智慧演算法的最佳化。

The second focus has been in advancing our photonic chip technology, which we talked about last time. We'll talk a little bit more about that today, and our foundry will provide the building blocks for not only the next generation of our quantum applications, but also for adjacencies in datacom and telecom markets.

第二個重點是推進我們上次討論過的光子晶片技術。今天我們將對此進行進一步討論，我們的代工廠不僅將為我們的下一代量子應用提供基礎模組，還將為數據通訊和電信市場的相鄰領域提供基礎模組。

So I'll give you a little bit of an update on some of the operational highlights for the fourth quarter of 2024. What we did there is we really continued to make a lot of progress across our key initiatives, validating both the demand for our quantum computing solutions and for our chip foundry services. One of the major highlights was an expansion of our partnership with NASA. Many of you have heard that we've had numerous contracts with them.

因此，我將向您簡要介紹 2024 年第四季的一些營運亮點。我們所做的是，我們確實在關鍵計劃中繼續取得了很大進展，驗證了對我們的量子運算解決方案和晶片代工服務的需求。其中一個主要亮點是我們與 NASA 的合作擴大。你們很多人都聽說過我們與他們簽訂了多份合約。

On October 17, we secured our fifth task order with NASA for developing quantum modeling and removal of solar noise from spaceborne LiDAR emissions using our Dirac-3 machine. The goal of this project is to reduce costs associated with climate monitoring missions while significantly improving the data collection capabilities and results.

10 月 17 日，我們與 NASA 簽訂了第五個任務訂單，使用我們的 Dirac-3 機器開發量子建模並消除機載雷射雷達發射中的太陽噪音。該計畫的目標是降低與氣候監測任務相關的成本，同時顯著提高數據收集能力和結果。

Then again, on December 17, we announced an additional contract with NASA to support an initiative for doing what's so-called phase unwrapping using our Dirac-3 machine optimization solver. These are exciting opportunities that demonstrate how our technology can enhance data accuracy and efficiency in large scale imaging applications.

然後，12 月 17 日，我們宣布與 NASA 達成額外合同，以支持使用我們的 Dirac-3 機器優化求解器進行所謂的相位展開的計劃。這些都是令人興奮的機會，展示了我們的技術如何提高大規模成像應用中的數據準確性和效率。

So more importantly, our ongoing work with NASA over the years has always been laying the groundwork for continued collaboration not only with NASA but also with other great government agencies and research institutions looking to leverage our quantum solutions for complex computational challenges. So we've made a lot of progress in this area.

因此，更重要的是，多年來我們與 NASA 的持續合作始終為與 NASA 以及其他偉大的政府機構和研究機構的持續合作奠定基礎，這些機構希望利用我們的量子解決方案來應對複雜的計算挑戰。因此我們在這個領域取得了很大進展。

If we turn a moment now to our quantum photonic chip foundry in Tempe, Arizona, we're in the final stage of commissioning that facility and remain on schedule to begin production in early Q2. The construction is substantially complete as of today, and we are now establishing our design process kits and we will be fulfilling customer orders in Q2.

現在我們來看看位於亞利桑那州坦佩的量子光子晶片代工廠，我們正處於該工廠調試的最後階段，並預計在第二季度初開始生產。截至今日，施工已基本完成，我們現在正在建立我們的設計流程套件，並將在第二季完成客戶訂單。

Throughout the quarter, we strengthened our industry relationships by signing a couple of memorandums of understanding with Spark Photonics design and Alcyon Photonics to broaden our collaboration efforts.

整個季度，我們與 Spark Photonics design 和 Alcyon Photonics 簽署了幾份諒解備忘錄，以加強我們的行業關係，並擴大我們的合作力度。

As part of our 2024 pilot launch, we secured multiple preorders through the opening of the FAB, and subsequent to the fourth quarter, we announced a total of five purchase orders for our TFLN photonic chips.

作為 2024 年試點發布的一部分，我們透過 FAB 的開業獲得了多個預訂單，在第四季度之後，我們宣布了總共五份針對 TFLN 光子晶片的採購訂單。

These milestones reinforce our strategy and the growing industry demand for high performance, energy efficient photonic integrated circuits or PICs, and QCi's position as a leader in the emerging US-based TFLN market, which we feel even more secure about today than we did the last time we spoke.

這些里程碑強化了我們的策略和產業對高性能、節能光子積體電路或 PIC 日益增長的需求，以及 QCi 作為美國新興 TFLN 市場的領導者地位，與上次交談時相比，我們今天對此感到更加有信心。

So from a sales and market expansion perspective, we've been actively engaged with commercial and government partners in Q4, and we've attended numerous up to 10 industry trade shows and conferences, making numerous presentations, presenting quantum optimization on our photonic chip solutions to some of the key decision makers and one list of potential customers.

因此，從銷售和市場擴展的角度來看，我們在第四季度積極與商業和政府合作夥伴合作，參加了多達 10 場的行業貿易展覽會和會議，做了多次演示，向一些關鍵決策者和一批潛在客戶展示了我們光子晶片解決方案的量子優化。

This focus outreach is really helping us drive better adoption, visibility, and strengthening our customer relationships to expand our presence across multiple sectors we try to serve.

這種重點推廣確實幫助我們推動了更好的採用和可見性，並加強了我們的客戶關係，從而擴大了我們在試圖服務的多個領域的影響力。

One additional example. So we had the opportunity in November of last year to present at the Quantum Frontiers Conference at Los Alamos National Laboratories. This is a key moment for us because we get to sit and talk with key thought leaders and on panels to discuss how quantum optimization solutions, particularly associated with our direct machine today, are solving real-world problems.

另外一個例子。因此，我們有機會在去年 11 月在洛斯阿拉莫斯國家實驗室舉行的量子前沿會議上發表演講。這對我們來說是一個關鍵時刻，因為我們可以與關鍵的思想領袖和小組成員坐下來交談，討論量子優化解決方案（特別是與我們今天的直接機器相關的解決方案）如何解決現實世界的問題。

And while there's been some debate in the industry about the timeline for Quantum Computing adoption, our model is different and our approach is different. Our photonic quantum machines are already demonstrating tangible value in important government and commercial applications, and it was a nice opportunity to be able to talk about some of those with a with a very small focus group of thought leaders in the industry.

儘管業界對於量子計算應用的時間表存在一些爭論，但我們的模型不同，方法也不同。我們的光子量子機器已經在重要的政府和商業應用中展示了切實的價值，這是一個很好的機會，能夠與業內一小部分思想領袖討論其中一些問題。

Our work with NASA and our expanding foundry services underscore this, proving quantum technologies are not just theoretical concepts, but they are here now and ready to deploy. Chris is going to talk to you in a moment if I can get over my cold here, apologize for that, and discuss our financial progress in more detail. But another key highlight of the quarter was bolstering our balance sheet with a significantly stronger financial position this year versus last. We're really well positioned like never before really to scale the operations at QCi and execute and accelerate our commercial strategy to expand the industry adoption of its quantum photonic solutions.

我們與 NASA 的合作以及我們不斷擴展的代工服務強調了這一點，證明量子技術不僅僅是理論概念，而且它們現在就已經存在並隨時可以部署。如果我的感冒能好起來的話，克里斯馬上就會和你談談，我向你道歉，並更詳細地討論我們的財務進展。但本季的另一個亮點是我們的資產負債表得到了增強，今年的財務狀況比去年相比明顯增強。我們確實處於前所未有的有利位置，可以擴大 QCi 的營運規模，並執行和加速我們的商業策略，以擴大產業對其量子光子解決方案的採用。

And as we move into 2025, we're going to remain really focused on driving revenue from that foundry in our quantum machines. We're going to expand our industry partnerships so I can give you a few examples of in our customer base. We're going to continue, as always, our R&D innovation to push the boundaries of what is possible in photonic computing.

隨著我們進入 2025 年，我們將繼續專注於從量子機器的代工廠中獲取收入。我們將擴大我們的行業合作夥伴關係，因此我可以給你舉幾個我們客戶群的例子。我們將一如既往地繼續我們的研發創新，突破光子運算的極限。

So with that, I'm going to turn over the call now to our CFO Chris Boehmler, who'll walk her through some of the financials. Over to you, Chris.

因此，我現在將把電話轉給我們的財務長 Chris Boehmler，他將向她介紹一些財務狀況。交給你了，克里斯。

Thanks, Bill. Today, I'm going to provide a brief overview of our financial performance for the fourth quarter of 2024. Our results in the quarter reflect a significantly strengthened cash position in advancement of our strategic initiatives, key initiatives that will drive long-term growth and build our offerings for foundry services of TFLN photonic chips and quantum solutions that use our machines.

謝謝，比爾。今天，我將簡要概述我們 2024 年第四季的財務表現。我們本季的業績反映出，隨著我們策略性舉措的推進，現金狀況顯著增強，這些關鍵舉措將推動長期成長，並為使用我們機器的 TFLN 光子晶片和量子解決方案的代工服務提供產品。

Fourth-quarter 2024 revenues totaled approximately 62,000 compared to 75,000 in the prior-year quarter. Our gross margin improved significantly to 55%, up from 13% in the fourth quarter of 2023. This improvement was largely driven by our focus on reducing our direct cost of goods sold.

2024 年第四季總營收約為 62,000，而去年同期為 75,000。我們的毛利率從 2023 年第四季的 13% 大幅提高至 55%。這項改善很大程度上得益於我們注重降低直接銷售成本。

Operating expenses for the fourth quarter totaled $8.9 million compared to $6.6 million in the same quarter last year. The year-over-year increase was primarily driven by higher employee-based expenses, including stock-based compensation and increased depreciation in support of bringing our photonic chip foundry online, offset by lower non-recurring legal services expenses.

第四季營運費用總計 890 萬美元，去年同期為 660 萬美元。年比成長主要是由於員工支出增加，包括股票薪酬和為支援光子晶片代工廠上線而增加的折舊，但非經常性法律服務費用減少抵消了這一增長。

Further, for the full year ended 2024, our cash used in operations decreased by $2.1 million, reflecting management's discipline strategy to minimize general and administrative expenses. The company reported a net loss attributable to common stockholders of $51.2 million or $0.47 per basic share compared to a net loss of $6.8 million in the prior-year quarter. The higher net loss this quarter was primarily due to non-cash charges attributable to the mark to market of the company's warrant liability as a result of our merger with QPhoton back in June of 2022.

此外，截至 2024 年全年，我們的營運現金使用減少了 210 萬美元，反映了管理層為盡量減少一般和行政費用而採取的紀律策略。該公司報告稱，普通股股東淨虧損為 5,120 萬美元，即每股基本虧損 0.47 美元，去年同期淨虧損為 680 萬美元。本季淨虧損增加主要是由於我們於 2022 年 6 月與 QPhoton 合併導致公司認股權證負債以市價計價而產生的非現金費用。

As of December 31, 2024, total assets stood at $153.6 million, up from $74.4 million at the year end at 2023. Cash-and-cash equivalents notably increased by $76.9 million to $78.9 million at year end, bolstered by total net proceeds of $92.1 million raised in the fourth quarter through offerings of common stock. Subsequent to the quarter, the company announced an additional private placement of common stock for an additional $100 million of gross proceeds, further strengthening our balance sheet.

截至 2024 年 12 月 31 日，總資產為 1.536 億美元，高於 2023 年底的 7,440 萬美元。現金和現金等價物顯著增加 7,690 萬美元，達到年底的 7,890 萬美元，這得益於第四季度透過發行普通股籌集的 9,210 萬美元的總淨收益。本季結束後，公司宣布額外私募普通股，額外獲得 1 億美元的總收益，進一步增強了我們的資產負債表。

Total liabilities at the year end were $46.3 million, an increase of approximately $41 million compared to year end 2023, driven primarily by the previously disclosed non-cash mark to market adjustment for the QPhoton warrant liability I mentioned.

年末總負債為 4,630 萬美元，比 2023 年底增加約 4,100 萬美元，主要由於我提到的先前揭露的 QPhoton 認股權證負債的非現金以市價調整。

Stockholders' equity rose to $107.3 million, reflecting our strengthened capital position. Looking ahead, our focus remains on executing our commercialization strategy by prudently managing our financial resources with our foundry on track to be operational by the end of this month, March 2025, with deliveries of pre-orders early next quarter, Q2 2025, coupled with our continued momentum with our go-to-market strategy to deliver quantum machines. We are very well positioned to drive revenue growth and work toward sustainable cash flow.

股東權益增至 1.073 億美元，反映出我們資本狀況的增強。展望未來，我們仍將專注於執行商業化策略，審慎管理財務資源，我們的代工廠將按計劃於本月底（2025 年 3 月）投入運營，並於下個季度初（2025 年第二季度）交付預訂單，同時我們將繼續保持市場戰略勢頭，交付量子機器。我們完全有能力推動收入成長並努力實現永續現金流。

I'll now turn it back over to Bill for closing remarks.

現在我將把發言權交還給比爾，請他作最後發言。

Thank you, Chris. 2024 has been a year of significant progress for QCi with key advancement in our quantum machines and photonic chip foundry and strategic partnerships. As we move into 2025, we are well positioned to drive revenue growth and expand the adoption of our quantum technologies.

謝謝你，克里斯。 2024 年是 QCi 取得重大進展的一年，我們的量子機器和光子晶片代工以及戰略合作夥伴關係取得了關鍵進展。隨著我們邁入 2025 年，我們已準備好推動收入成長並擴大量子技術的採用。

Our strong financial position and continued focus on innovation will enable us to capitalize on the growing demand for scalable quantum solutions, and I'm excited for what lies ahead as we begin to execute our strategy to put photons to work.

我們強大的財務狀況和對創新的持續關注將使我們能夠利用對可擴展量子解決方案日益增長的需求，當我們開始執行將光子投入使用的策略時，我對未來充滿期待。

So with that, we'll open it up for questions and operator, please go ahead with that. Thanks.

因此，我們將開始回答問題，請接線員繼續。謝謝。

Thank you. At this time we will be conducting a question-and-answer session. (Operator Instructions)

謝謝。此時我們將進行問答環節。（操作員指令）

Ed Woo, Ascendiant Capital.

Ascendiant Capital 的 Ed Woo。

Yeah, congratulations on all the progress and congratulations on getting this recognition. My question is, the opportunities in international is most of your focus now domestic business or are you focused just on worldwide opportunities?

是的，恭喜您所取得的所有進步，也恭喜您獲得這項認可。我的問題是，國際機會是您現在關注的國內業務重點，還是只專注於全球機會？

Yeah, thanks, Ed. It is currently a big focus in the US for some commercial entities. Those entities are global companies. And with some of the US government initiatives with our directory, particularly in the areas of fraud detection and portfolio analysis, payment analysis, we do have, I will say, a couple of orders for our photonic chips that are offshore, both in Europe and in Asia.

是的，謝謝，埃德。目前，這是美國一些商業實體關注的重點。這些實體都是全球性公司。而且，隨著美國政府對我們目錄的一些舉措，特別是在欺詐檢測和投資組合分析、支付分析等領域，我們確實有一些光子晶片的訂單，這些訂單位於歐洲和亞洲的海外。

So it's a mix so for the commercial products, the Dirac machine, in particular, there are, I will say, orders in our pipeline that we have not been able to capture as an order and deliver as a sale yet that are offshore. But right now we're pretty much focused on closing orders that are largely domestic for the Quantum machines and we've got a decent mix onshore or offshore for the [apollo] chips.

所以對於商業產品，特別是狄拉克機器來說，這是一個混合體，我想說的是，我們管道中的一些訂單我們還未能將其作為訂單捕獲並作為銷售交付，這些訂單都是海外的。但目前我們主要專注於完成國內的量子機器訂單，而且我們在國內和海外的[阿波羅]晶片訂單也相當充足。

That sounds good. And just my last question on the boundary business, congratulations on starting orders in early Q2. Are you going to be operating at a ramped, a 100% operational efficiency right away, or will it take time to ramp up?

聽起來很好。關於邊界業務的最後一個問題，恭喜您在第二季初開始接訂單。您是否要立即以 100％ 的運營效率進行運營，還是需要一段時間才能實現？

Well, of course, there's a start-up time, right? Because what you have to do, I'm sure you're aware, is we have to get what's called our PDKs, our process design kits going, and we have that going.

嗯，當然，有一個啟動時間，對吧？因為我相信您知道您要做的就是，我們必須讓所謂的 PDK，也就是我們的流程設計套件運作起來，而我們已經讓它運作起來了。

So we'll be delivering chips, proof of concept chips to customers in Q2, and those are most of the orders we secured. I mean, we are a new foundry, so most customers rightly would say, hey, build us a handful of these modulator devices or ring resonators or various components and that leads to a scaled up for a multi-project wafer platform, which is what we're looking to drive as quickly as possible.

因此，我們將在第二季向客戶交付晶片、概念驗證晶片，這些是我們獲得的大部分訂單。我的意思是，我們是一家新的代工廠，因此大多數客戶都會正確地說，嘿，為我們製造一些這樣的調製器設備或環形諧振器或各種組件，這樣就可以擴大多項目晶圓平台，而這正是我們希望盡快推動的。

So, yeah, there's going to be a ramp as you would expect, your commissioning the equipment, getting our PDKs lined up, and we have some partnerships that I mentioned in the call that will be helping us and working with us on some of those things.

是的，正如您所期望的那樣，將會有一個坡道，您將調試設備，排列好我們的 PDK，並且我們在電話會議中提到過一些合作夥伴關係，他們將在某些事情上為我們提供幫助和與我們合作。

Great. Well, thank you and I wish you, guys, congratulations again. Thank you.

偉大的。好吧，謝謝你們，我再次向你們表示祝賀。謝謝。

You're welcome. Thank you.

不客氣。謝謝。

Okay, we have no further questions in queue and I'd like to turn the floor back to management for closing remarks.

好的，我們沒有其他問題了，我想將發言權交還給管理階層，請他們作結語。

Okay, well, thank you, operator, and thank you out there, everybody. I see there's about 30 people, so listen, please, I really appreciate the support and taking the time to listen to our story today and the things we've done, and we're very much looking forward to keeping you up to date in 2025.

好的，謝謝接線生，也謝謝在座的各位。我看到大約有 30 個人，所以請聽我說，我非常感謝你們的支持，感謝你們花時間傾聽我們今天的故事和我們所做的事情，我們非常期待在 2025 年向你們通報最新情況。

I would ask that to really keep in daily contact with us, you can look at our website. We try to keep that very relevant. We work very hard in 2024 to make that a good reflection of who we are and what we do, not just from a press release perspective, but our knowledge base, the events that we share on our LinkedIn website.

我希望您能與我們保持日常聯繫，您可以訪問我們的網站。我們盡力保持其相關性。2024 年，我們將竭盡全力，讓它更好地反映我們是誰以及我們做什麼，不僅僅是從新聞稿的角度，還包括我們的知識庫、我們在 LinkedIn 網站上分享的事件。

We really try to get our message out there and be as transparent as we possibly can with our shareholders and with the world in the market. So I would ask that if you really want to stay in daily touch with us, we'd love to hear from you and please always feel free to reach out to Rosalyn, our Investor Relations, contact here on the call with us today.

我們確實努力傳達我們的訊息，並盡可能對我們的股東和整個市場保持透明。因此，我想問的是，如果您真的想與我們保持日常聯繫，我們很樂意聽到您的聲音，請隨時聯繫我們的投資者關係部羅薩琳 (Rosalyn)，今天就通過電話與我們聯繫。

Thank you all very much once again. And I hope you all have a good rest of the meeting day.

再次感謝大家。我希望大家在會議剩餘的時間裡能夠過得愉快。

This concludes today's conference, and you may disconnect your lines at this time. Thank you for your participation.

今天的會議到此結束，各位現在可以掛斷電話了。感謝您的參與。