Both are true, just at different time points. From 2022 to 2023 was the downward phase, with export volume dropping from 1.66 million tons to 1.27 million tons, a decline of nearly 23%. In 2024, the decline halted with a slight recovery to 1.292 million tons. Entering the first quarter of 2025, export volume grew approximately 3.4% year-on-year, with exports to the US growing over 5%. Overall, the bottom has largely passed, but the recovery magnitude is limited, and unit price pressure and market competition have not disappeared. So you cannot say "the market is back so there's no problem," nor can you say "we're still at the bottom"—a more accurate description is: differentiation is occurring. Manufacturers who can quickly adjust strategy are starting to warm up, while those who haven't made adjustments continue to face pressure. When reading the numbers, pay attention to both volume and price simultaneously. A recovery in export volume does not necessarily mean the profit structure has improved.