Titanium increased in quantity and price of titanium sponge increased. We expect the sentiment of profit in the second and third quarters to be transmitted to the profit side: The company's sales of titanium products in 2017 were -1.6% YoY and sales were +8.5% year-on-year, mainly due to the year-on-year average price of sponge titanium of +28%. In 2017, the sales volume of titanium products of the company was +12% year-on-year, and that of titanium products was -35%. This shows that the demand for titanium materials continues to be strong and the price increase conditions have already been met. We believe that this quantity and priceless state is expected to end from the 2-3 quarter of this year, and the company's profits will increase with the large probability of the product to achieve a deficit.
