Q5 As China continues to pursue high-quality development along a Chinese path to modernization, what opportunities do you anticipate for your business as this process gains more traction? Will you increase investment in China in the coming years? How will you further expand your footprint in China?

MA: China's pursuit of high-quality development along its path to modernization presents substantial growth opportunities for VF. As a fast-growing and our second-largest market, China is strategically important to us and VF will continue to invest in the country.

With its vast consumer base and rising demand for premium outdoor and lifestyle products, we believe China could become our largest market across the world over time.

At VF, we focus on consumer-driven innovation and elevated brand experiences to promote an active lifestyle. Leveraging data insights, we design and create performance-driven products tailored to local needs, from sunproof jackets for summer treks to long down jackets for winter expeditions.

TAN: The consumption habits and lifestyles of Chinese consumers are transforming, with an increasing focus on fitness, health, comfort and personalization. These trends align closely with Skechers' growth strategy. Our products and services cater to the diverse needs of consumers, positioning us to gain greater consumer favor and capture a larger market share.

China is Skechers' biggest overseas market, and we believe in its potential. We will increase our investment in China in the coming years.

Skechers follows the "In China, For China" strategy. We have already invested over 3 billion yuan ($414.6 million) in building the Skechers China logistics center in Taicang (phases I and II), Jiangsu province, as well as more than 60 million yuan in setting up the Asia-Pacific product R&D center and China livestreaming base in Dongguan, Guangdong province.

These investments offer strong support for Skechers to extend its business presence.

DONG: Guided by our core values — integrity, customer focus, ownership, inclusiveness and teamwork — we fully embrace China's modernization. Avnet, serving thousands of customers across over 20 Chinese cities, has built a strong foundation. We foresee increased demand for our technologies in key sectors like EVs and AI, and will invest accordingly, enhancing our technical and logistics infrastructure. Our confidence in China's development remains unwavering. Upholding our values, we'll deepen local partnerships and foster talent. Expanding our regional footprint, we're dedicated to supporting China's journey. Leveraging global expertise, we're committed to long-term partnerships.

LING: Achieving high-quality development in China aligns perfectly with Roehm's development strategy. Our integrated site in Shanghai has been certified with ISCC PLUS, a globally recognized sustainability certification system, ensuring the traceability and sustainability of bio-based, renewable and circular raw materials. This certification provides our customers with more choices in sustainable products.

Our expanded PMMA production capacity and the Roehm Asia Technology Center in Shanghai exemplify our commitment to innovation and local collaboration. These facilities enable us to work closely with local customers, helping them develop innovative applications from an early stage and seize opportunities presented by industrial upgrades in sectors such as automotive and healthcare.