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Xinyisheng: The exchange rate fluctuations in the first quarter had a certain impact on revenue recognition scale and profit.
Xinyisheng released the Investor Relations Activity Record, indicating that the company’s trading currency is the US dollar, with the functional currencies being the Chinese yuan and the Thai baht of the Thai subsidiary.
In the first quarter, the exchange rates of these two functional currencies fluctuated, which had a certain impact on revenue recognition scale and profits.
The company will adopt more foreign exchange risk management measures in the future to reduce the impact of exchange rate fluctuations.