Following the pandemic, 2021 was a challenging year for Lianhe Ratings Global Limited (“Lianhe Global” or “the Company”). However, with the support from the international bond market participants, Lianhe Global still managed to grow well in the Chinese US dollar bond market. We would like to make use of this opportunity to thank all of you. At the same time, we also hope to share with you a summary of our achievements in 2021 and we look forward to a good year in 2022.