Release the company’s second quarter financial report as of June 30, 2020. According to the financial report, the second quarter revenue of Xiaoniu electric was 644.9 million yuan, an increase of 21.6% over the same period of last year; the net profit in the second quarter was 56.8 million yuan, which was 51 million yuan in the same period last year. According to non GAAP, the adjusted net profit in the second quarter was 67.8 million yuan, compared with 54.1 million yuan in the same period last year. < / P > < p > revenue was 644.9 million yuan, with a year-on-year increase of 21.6%; of which, the sales volume in China was 527.7 million yuan, up 58.5% year-on-year, accounting for 90.2% of the total sales of two-wheel electric vehicles; and the sales volume in the international market was 527.7 million yuan, up 58.5% year-on-year, accounting for 90.2% of the total sales of two-wheel electric vehicles The operating expenses accounted for 92.6 million yuan, a year-on-year increase of 13.9%; the operating expenses accounted for 14.4% of the revenue, which was lower than 15.3% of the same period last year; of which, the marketing cost was 45.6 million yuan, with a year-on-year decrease of 3.1%; the research and development cost was 24 million yuan, with a year-on-year increase of 43.5%; the general administrative expenditure was 23 million yuan, with a year-on-year increase of 31%; and As of June 30, 2020, the company has cash, fixed deposit and short-term investment totaling RMB 1018.2 billion; restricted cash is RMB 176.8 million and short-term bank loan is RMB 180 million. In the third quarter of 2020, the revenue range of calf Electric is expected to be between 850 million yuan and 950 million yuan, that is, a year-on-year increase of 30% to 45%.