WH Group

Live  

WH Group, formerly known as Shuanghui Group, is a Chinese multinational meat and food processing company. The company is based in Luohe, Henan province, China, and was founded in 2007.
The company primarily focuses on the production and sale of pork, with operations spread across China, the United States, Europe and some parts of Asia. WH Group is the largest pork producer in the world and its products range from fresh meat to packaged meat products such as sausages, bacon, and other processed meats.
In addition to its pork production, WH Group also has interests in poultry, beef, lamb, and other food products. The company operates through its subsidiaries, including Smithfield Foods in the US, Campofrío in Spain, and others.
In 2013, WH Group acquired Smithfield Foods, one of the largest pork producers in the US, for $4.7 billion, making it the largest acquisition of a US company by a Chinese company at the time.
WH Group is a publicly listed company and is listed on the Hong Kong Stock Exchange. It has a global workforce of over 80,000 employees and reported revenue of US$24.1 billion in 2020.
The company's mission is to be a world-class enterprise known for its innovative, sustainable and safe food products, and to provide high-quality protein to consumers around the world.

VGhlIFdIIE dyb3VwIGlz IGEgQ2hpbm VzZSBmb29k IGFuZCBtZW F0IHByb2Nl c3NpbmcgY2 9tcGFueSB0 aGF0IGlzIG 9uZSBvZiB0 aGUgbGFyZ2 VzdCBpbiB0 aGUgd29ybG QuIFRoZSBj b21wYW55IH Byb2R1Y2Vz IG92ZXIgMz AgbWlsbGlv biB0b25zIG 9mIG1lYXQg cHJvZHVjdH MgYW5udWFs bHkgYW5kIG hhcyBhIHBy ZXNlbmNlIG luIG92ZXIg MTAwIGNvdW 50cmllcy4g U29tZSBvZi B0aGUgdW5p cXVlIGFzcG VjdHMgb2Yg dGhlIGNvbX BhbnkgaW5j bHVkZSBpdH Mgc2l6ZSwg Z2xvYmFsIH JlYWNoLCBh bmQgY29tbW l0bWVudCB0 byBzdXN0YW luYWJsZSBh bmQgZXRoaW NhbCBwcmFj dGljZXMuIF RoZSBXSCBH cm91cCBpcy BhbHNvIGtu b3duIGZvci BpdHMgZXh0 ZW5zaXZlIH Jlc2VhcmNo IGFuZCBkZX ZlbG9wbWVu dCBjYXBhYm lsaXRpZXMs IGFzIHdlbG wgYXMgaXRz IGZvY3VzIG 9uIGlubm92 YXRpb24gYW 5kIHRlY2hu b2xvZ3kgaW 4gdGhlIGZv b2QgaW5kdX N0cnkuIEFk ZGl0aW9uYW xseSwgdGhl IGNvbXBhbn kgaGFzIG1h ZGUgc2lnbm lmaWNhbnQg aW52ZXN0bW VudHMgaW4g bW9kZXJuaX ppbmcgYW5k IHVwZ3JhZG luZyBpdHMg cHJvZHVjdG lvbiBmYWNp bGl0aWVzLC B3aGljaCBo YXMgaGVscG VkIGl0IG1h aW50YWluIG EgY29tcGV0 aXRpdmUgZW RnZSBpbiB0 aGUgbWFya2 V0Lg==

VGhlIFdIIE dyb3VwIGlz IGEgQ2hpbm VzZSBmb29k IGNvbmdsb2 1lcmF0ZSB0 aGF0IHByaW 1hcmlseSBv cGVyYXRlcy BpbiB0aGUg bWVhdCBwcm 9jZXNzaW5n IGluZHVzdH J5LiBJdHMg bWFpbiBidX NpbmVzcyBt b2RlbCBpcy B0byBhY3F1 aXJlIGFuZC Bjb25zb2xp ZGF0ZSBtZW F0IHByb2Nl c3NpbmcgY2 9tcGFuaWVz IGFyb3VuZC B0aGUgd29y bGQsIHdpdG ggYSBmb2N1 cyBvbiBwb3 JrIHByb2R1 Y3Rpb24uID xicj5BcyBh IGdsb2JhbC BsZWFkZXIg aW4gcG9yay Bwcm9kdWN0 aW9uLCB0aG UgY29tcGFu eSBvcGVyYX RlcyBhIHZl cnRpY2FsbH kgaW50ZWdy YXRlZCBzdX BwbHkgY2hh aW4sIHdoaW NoIGluY2x1 ZGVzIGJyZW VkaW5nLCBm YXJtaW5nLC Bwcm9jZXNz aW5nLCBhbm QgZGlzdHJp YnV0aW9uLi BUaGlzIGFs bG93cyB0aG UgV0ggR3Jv dXAgdG8gY2 9udHJvbCB0 aGUgZW50aX JlIHByb2R1 Y3Rpb24gcH JvY2VzcyBh bmQgZW5zdX JlIHF1YWxp dHkgYW5kIG VmZmljaWVu Y3kuPGJyPk luIGFkZGl0 aW9uIHRvIH BvcmsgcHJv ZHVjdGlvbi wgdGhlIFdI IEdyb3VwIG Fsc28gaGFz IGEgZGl2ZX JzaWZpZWQg cG9ydGZvbG lvIG9mIGJ1 c2luZXNzZX MsIGluY2x1 ZGluZyBwb3 VsdHJ5LCBi ZWVmLCBsYW 1iLCBhbmQg c2VhZm9vZC Bwcm9jZXNz aW5nLiBJdC BhbHNvIG9m ZmVycyByZW xhdGVkIHNl cnZpY2VzIH N1Y2ggYXMg bG9naXN0aW NzLCByZXRh aWwsIGFuZC Bmb29kIHBh Y2thZ2luZy 48YnI+VGhl IGNvbXBhbn kncyBidXNp bmVzcyBtb2 RlbCBpcyBj ZW50ZXJlZC Bhcm91bmQg Y29udGludW 91cyBleHBh bnNpb24gYW 5kIGRpdmVy c2lmaWNhdG lvbiB0aHJv dWdoIG1lcm dlcnMgYW5k IGFjcXVpc2 l0aW9ucywg YXMgd2VsbC BhcyBzdHJh dGVnaWMgcG FydG5lcnNo aXBzIGFuZC Bqb2ludCB2 ZW50dXJlcy 4gSXQgaGFz IGEgc3Ryb2 5nIHByZXNl bmNlIGluIE NoaW5hLCB0 aGUgVW5pdG VkIFN0YXRl cywgYW5kIE V1cm9wZSwg YnV0IGlzIG Fsc28gZXhw YW5kaW5nIG ludG8gZW1l cmdpbmcgbW Fya2V0cyBp biBBc2lhLC BMYXRpbiBB bWVyaWNhLC BhbmQgQWZy aWNhLjxicj 5PdmVyYWxs LCB0aGUgV0 ggR3JvdXAn cyBidXNpbm VzcyBtb2Rl bCBpcyBmb2 N1c2VkIG9u IG1heGltaX ppbmcgcHJv Zml0cyB0aH JvdWdoIGVj b25vbWllcy BvZiBzY2Fs ZSwgdmVydG ljYWwgaW50 ZWdyYXRpb2 4sIGFuZCBn bG9iYWwgbW Fya2V0IHJl YWNoLiBJdC BhaW1zIHRv IG1lZXQgdG hlIGdyb3dp bmcgZGVtYW 5kIGZvciBo aWdoLXF1YW xpdHkgYW5k IHNhZmUgbW VhdCBwcm9k dWN0cywgd2 hpbGUgYWxz byBhZGFwdG luZyB0byBj aGFuZ2luZy Bjb25zdW1l ciBwcmVmZX JlbmNlcyBh bmQgbWFya2 V0IHRyZW5k cy4=

The sensitivity of WH Group’s earnings, cash flow, and valuation to changes in interest rates can be assessed through various factors.
1. Earnings Sensitivity: WH Group, like many companies, may experience changes in earnings due to interest rates primarily through its cost of borrowing. If interest rates rise, the company may face higher interest expenses if it has variable-rate debt. This could put pressure on profitability. Conversely, if interest rates fall, the cost of servicing debt might decrease, positively impacting earnings.
2. Cash Flow Sensitivity: Cash flows can also be impacted by interest rate fluctuations. Higher interest rates might lead to increased interest payments, reducing net cash flow available for operations, investments, or distributions to shareholders. If the company needs to refinance existing debt at higher rates, this can further strain cash flow. On the other hand, lower interest rates could enhance cash flow by reducing interest obligations.
3. Valuation Sensitivity: Valuation is typically influenced by the discount rate used in discounted cash flow models, which often reflects prevailing interest rates. Higher interest rates increase the discount rate, reducing the present value of future cash flows, and may lead to a lower valuation. Conversely, lower interest rates can increase valuations by lowering discount rates and enhancing the attractiveness of cash flows.
Additional factors to consider include the company’s debt profile, its ability to pass costs onto consumers, and the overall macroeconomic environment. The impact of interest rate changes can vary significantly based on how these factors interact. Overall, WH Group’s sensitivity to interest rates is distinctly tied to its financial structure and market conditions.

CiAgICAgIC AgICAgIDxk aXYgc3R5bG U9J3dpZHRo OiAxMDAlOy BkaXNwbGF5 OiBmbGV4Oy BqdXN0aWZ5 LWNvbnRlbn Q6IGNlbnRl cjsnPgogIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nCiAgIC AgICAgICAg ICAgICAgIC AgZGlzcGxh eTogZmxleD sKICAgICAg ICAgICAgIC AgICAgICBh bGlnbi1pdG VtczogY2Vu dGVyOwogIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICNm MGY0Zjg7Ci AgICAgICAg ICAgICAgIC AgICAgYm9y ZGVyOiAxcH ggc29saWQg I2QxZTNmMD sKICAgICAg ICAgICAgIC AgICAgICBi b3JkZXItcm FkaXVzOiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH g7CiAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luOi AyMHB4IDA7 CiAgICAgIC AgICAgICAg ICAgICAgZm 9udC1mYW1p bHk6ICJTZW dvZSBVSSIs IFJvYm90by wgc2Fucy1z ZXJpZjsKIC AgICAgICAg ICAgICAgIC AgICBib3gt c2hhZG93Oi AwIDJweCA2 cHggcmdiYS gwLCAwLCAw LCAwLjA1KT sKICAgICAg ICAgICAgIC AgICAgICBt YXgtd2lkdG g6IDkwMHB4 OwogICAgIC AgICAgICAg ICAgICAgIH dpZHRoOiAx MDAlOyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxp bWcgc3JjPS Jhc3NldHMv bG9nb3MvQ2 QyNXFxU3Y3 b1owOHlvV0 l3eGkud2Vi cCIgYWx0PS JXSCBHcm91 cCIgdGl0bG U9IldIIEdy b3VwIiAgY2 xhc3M9Imlt Zy1mbHVpZC IgaGVpZ2h0 PTkwIHdpZH RoPTkwIGxv YWRpbmc9J2 xhenknIHN0 eWxlPSdib3 JkZXItcmFk aXVzOiA2cH g7Jz4KCiAg ICAgICAgIC AgICAgICAg ICAgPGRpdi BzdHlsZT0n ZmxleDogMT sgdGV4dC1h bGlnbjogY2 VudGVyOyBt YXJnaW4tbG VmdDogNXB4 Oyc+CiAgIC AgICAgICAg ICAgICAgIC AgICAgIDxw IHN0eWxlPS dmb250LXNp emU6IDI2cH g7IGNvbG9y OiAjMzMzOy BtYXJnaW4t Ym90dG9tOi AxNXB4Oyc+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICDw n5OIIFdhbn QgdG8gcmVh ZCBtb3JlIG Fib3V0IFdI IEdyb3VwPw ogICAgICAg ICAgICAgIC AgICAgICAg ICA8L3A+Cg ogICAgICAg ICAgICAgIC AgICAgICAg ICA8YSBocm VmPSdpbmRl eC5waHA/cG FnZT1zaWdu dXAnIHN0eW xlPScKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICMw MDdCRkY7Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBjb2 xvcjogI2Zm ZjsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IHBhZGRpbm c6IDEwcHgg MjBweDsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGJvcm Rlci1yYWRp dXM6IDVweD sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIH RleHQtZGVj b3JhdGlvbj ogbm9uZTsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGZv bnQtd2VpZ2 h0OiBib2xk OwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luLX JpZ2h0OiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgdHJhbn NpdGlvbjog YmFja2dyb3 VuZC1jb2xv ciAwLjNzIG Vhc2U7Jwog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgb25t b3VzZW92ZX I9J3RoaXMu c3R5bGUuYm Fja2dyb3Vu ZENvbG9yPS IjMDA1NmIz IicKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IG9ubW91c2 VvdXQ9J3Ro aXMuc3R5bG UuYmFja2dy b3VuZENvbG 9yPSIjMDA3 QkZGIic+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBTaW duIHVwIGZv ciBmcmVlCi AgICAgICAg ICAgICAgIC AgICAgICAg IDwvYT4KCi AgICAgICAg ICAgICAgIC AgICAgICAg IDxzcGFuIH N0eWxlPSdt YXJnaW46ID AgOHB4OyBj b2xvcjogIz U1NTsnPm9y PC9zcGFuPg oKICAgICAg ICAgICAgIC AgICAgICAg ICAgPGEgaH JlZj0naW5k ZXgucGhwP3 BhZ2U9bG9n aW4nIHN0eW xlPScKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGNvbG9y OiAjMDA3Qk ZGOwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgdGV4dC1k ZWNvcmF0aW 9uOiB1bmRl cmxpbmU7Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBmb2 50LXdlaWdo dDogNTAwOy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Bsb2cgaW4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgPC9hPgoK CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDxwIHN0 eWxlPSdtYX JnaW4tdG9w OiAxNXB4Oy Bmb250LXNp emU6IDEzcH g7IGZvbnQt d2VpZ2h0Oi Bib2xkOyBj b2xvcjogI2 QzMmYyZjsn PgogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg 4pyN77iPIF NpZ24gdXAg dG8gZ2V0ID xpPiJUaGUg Q2hlY2tsaX N0IFZhbHVl IEludmVzdG 9yIOKAlCBB IFNtYXJ0ZX IgV2F5IHRv IFBpY2sgU3 RvY2tzIjwv aT4gZm9yIG ZyZWUKICAg ICAgICAgIC AgICAgICAg ICAgICAgPC 9wPgoKICAg ICAgICAgIC AgICAgICAg ICAgICAgPC EtLQogICAg ICAgICAgIC AgICAgICAg ICAgICA8ZG l2IHN0eWxl PSdtYXJnaW 4tdG9wOiAx MnB4OyBmb2 50LXNpemU6 IDEzcHg7IG NvbG9yOiAj NDQ0Oyc+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBTaW duIHVwIG5v dyBhbmQgZ2 V0IG91ciBm cmVlIGVCb2 9rIAogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgPGI+VGhl IENoZWNrbG lzdCBWYWx1 ZSBJbnZlc3 RvciDigJQg QSBTbWFydG VyIFdheSB0 byBQaWNrIF N0b2Nrczwv Yj4KICAgIC AgICAgICAg ICAgICAgIC AgICAgPC9k aXY+CiAgIC AgICAgICAg ICAgICAgIC AgICAgIC0t PgogICAgIC AgICAgICAg ICAgICAgIC AgICA8IS0t CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDxkaXYg c3R5bGU9J2 1hcmdpbi10 b3A6IDE2cH g7IGZvbnQt c2l6ZTogMT RweDsgY29s b3I6ICM0ND Q7IGZvbnQt ZmFtaWx5Oi AtYXBwbGUt c3lzdGVtLC BCbGlua01h Y1N5c3RlbU ZvbnQsIFNl Z29lIFVJLC BSb2JvdG8s IEhlbHZldG ljYSBOZXVl LCBzYW5zLX NlcmlmOyBs aW5lLWhlaW dodDogMS42 Oyc+CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBIYXZlIH lvdSBoZWFy ZCBhYm91dC BvdXIgc2hv cnQgPHN0cm 9uZyBzdHls ZT0nZm9udC 13ZWlnaHQ6 IDYwMDsnPk RhaWx5IFZp ZGVvIE5ld3 NsZXR0ZXI8 L3N0cm9uZz 4/CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC A8YSBocmVm PSdodHRwcz ovL3d3dy5p bnNpZ2h0Zn VsdmFsdWUu Y29tL25ld3 NsZXR0ZXIu cGhwJyB0YX JnZXQ9J19i bGFuaycgc3 R5bGU9J2Nv bG9yOiAjMD A3QkZGOyB0 ZXh0LWRlY2 9yYXRpb246 IG5vbmU7IG ZvbnQtd2Vp Z2h0OiA1MD A7IG1hcmdp bi1sZWZ0Oi A2cHg7Jz4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBGaW5kIG 91dCBtb3Jl CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICA8 L2E+CiAgIC AgICAgICAg ICAgICAgIC AgICAgIDwv ZGl2PgogIC AgICAgICAg ICAgICAgIC AgICAgICAt LT4KICAgIC AgICAgICAg ICAgICAgIC A8L2Rpdj4K ICAgICAgIC AgICAgICAg IDwvZGl2Pg ogICAgICAg ICAgICA8L2 Rpdj4KICAg ICAgICAgIC AgCiAgICAg ICAgCiAgIC AgICAgPHNw YW4gY2xhc3 M9J2JsdXJy ZWQtdGV4dC c+CiAgICAg ICAgICAgIE 1TNGdWR2hs SUcgTnZiWE JoYm5rZyBk MkZ6SUc5eW FXIGRwYm1G c2JIa2cgWm 05MWJtUmxa QyBCaGN5Ql RhSFZoIGJt ZG9kV2tnUj MgSnZkWEFn YVc0ZyBNVG sxT0NCaWVT IEJzYjJOaG JDQm0gWVhK dFpYSnpJRy BsdUlFaGxi bUZ1IElGQn liM1pwYm0g TmxMQ0JEYU dsdSBZUzQ4 WW5JK01pID RnU1c0Z01U azUgT0N3Z2 RHaGxJRyBO dmJYQmhibm tnIFltVmpZ VzFsSUggUm 9aU0JtYVhK eiBkQ0JEYU dsdVpYIE5s SUcxbFlYUW cgY0hKdlpI VmpaWCBJZ2 RHOGdZbVVn IGJHbHpkR1 ZrSUcgOXVJ SFJvWlNCSS BiMjVuSUV0 dmJtIGNnVT NSdlkyc2cg UlhoamFHRn VaMiBVdVBH SnlQak11IE lGZElJRWR5 YjMgVndJR0 ZqY1hWcCBj bVZrSUZOdG FYIFJvWm1s bGJHUWcgUm 05dlpITXNJ RSBsdVl5NH NJSFJvIFpT QnNZWEpuWl ggTjBJSEJ2 Y21zZyBjSE p2WkhWalpY IElnYVc0Z2 RHaGwgSUZW dWFYUmxaQy BCVGRHRjBa WE1zIElHWn ZjaUFrTkMg NDNJR0pwYk d4cCBiMjRn YVc0Z01qIE F4TXk0OFlu SSsgTkM0Z1 ZHaGxJRyBO dmJYQmhibm tnIFkyaGhi bWRsWkMgQn BkSE1nYm1G dCBaU0IwYn lCWFNDIEJI Y205MWNDQn AgYmlBeU1E RTBMQyBCem VXMWliMnhw IGVtbHVaeU JwZEggTWda Mnh2WW1Gcy BJR1Y0Y0dG dWMyIGx2Ym lCemRISmgg ZEdWbmVTND hZbiBJK05T NGdWMGdnIF IzSnZkWEFn YjMgQmxjbU YwWlhNZyBh VzRnYlc5eV pTIEIwYUdG dUlETXcgSU dOdmRXNTBj bSBsbGN5Qm hibVFnIGFH RnpJRzkyWl ggSWdNVEF3 TERBdyBNQ0 JsYlhCc2Iz IGxsWlhNZ2 QyOXkgYkdS M2FXUmxMai B4aWNqNDJM aUJKIGJpQX lNREU0TEMg QjBhR1VnWT I5dCBjR0Z1 ZVNCd2NtID lrZFdObFpD QTAgTGpJZ2 JXbHNiRyBs dmJpQjBiMj V6IElHOW1J RzFsWVggUX NJRzFoYTJs dSBaeUJwZE NCMGFHIFVn YkdGeVoyVn ogZENCd2Iz SnJJRyBGdV pDQndZV05y IFlXZGxaQ0 J0WlcgRjBJ R052YlhCaC BibmtnYVc0 Z2RHIGhsSU hkdmNteGsg TGp4aWNqND NMaSBCVWFH VWdZMjl0IG NHRnVlZUtB bVggTWdZbk poYm1SeiBJ R2x1WTJ4MV pHIFVnVTIx cGRHaG0gYV dWc1pDd2dS bSBGeWJXVn lJRXB2IGFH NHNJRVZqYT MgSnBZMmdz SUVaaCBjbT FzWVc1a0xD IEJoYm1RZ1 MzSmggYTNW eklHRnRiMi A1bklHOTBh R1Z5IGN5ND hZbkkrT0Mg NGdWMGdnUj NKdiBkWERp Z0pseklIIE J5YjJSMVkz UnogSUdOaG JpQmlaUyBC bWIzVnVaQ0 JwIGJpQnRZ V3B2Y2kgQn laWFJoYVd4 bCBjbk1nWV c1a0lHIFp2 YjJSelpYSj IgYVdObElH OTFkRyB4bG RITWdhVzRn IFRtOXlkR2 dnUVcgMWxj bWxqWVN3Zy BRWE5wWVN3 Z1lXIDVrSU VWMWNtOXcg WlM0OFluSS tPUyA0Z1ZH aGxJR052IG JYQmhibmtn YUcgRnpJR0 VnYzNSeSBi MjVuSUdOdm JXIDFwZEcx bGJuUWcgZE c4Z2MzVnpk RyBGcGJtRm lhV3hwIGRI a2dZVzVrSU cgaGhjeUJw YlhCcyBaVz FsYm5SbFpD IEJwYm1sMG FXRjAgYVha bGN5QjBieS BCeVpXUjFZ MlVnIGFYUn pJR1Z1ZG0g bHliMjV0Wl c1MCBZV3dn YVcxd1lXIE 4wTENCd2Nt OXQgYjNSbE lHRnVhVyAx aGJDQjNaV3 htIFlYSmxM Q0JoYm0gUW djM1Z3Y0c5 eSBkQ0JzYj JOaGJDIEJq YjIxdGRXNX AgZEdsbGN5 NDhZbiBJK0 1UQXVJRWx1 IElESXdNak FzSUYgZElJ RWR5YjNWdy BJR1J2Ym1G MFpXIFFnTl NCdGFXeHMg YVc5dUlIbD FZVyA0Z0tH RndjSEp2IG VHbHRZWFJs Ykgga2dKRG MzTkN3dyBN REFwSUhSdk lIIE4xY0hC dmNuUWcgZE dobElHWnBa MiBoMElHRm 5ZV2x1IGMz UWdRMDlXU1 UgUXRNVGtn YVc0ZyBRMm hwYm1FdVBH IEp5UGpFeE xpQlUgYUdV Z1kyOXRjRy BGdWVTQm9Z WE1nIGNtVm paV2wyWlcg UWdiblZ0Wl hKdiBkWE1n WVhkaGNtIF J6SUdGdVpD QnkgWldOdl oyNXBkRyBs dmJuTXNJR2 x1IFkyeDFa R2x1WnkgQm laV2x1WnlC dSBZVzFsWk NCaElFIFp2 Y25SMWJtVW cgUjJ4dllt RnNJRCBVd0 1DQmpiMjF3 IFlXNTVJR0 Z1WkMgQmla V2x1WnlCcy BhWE4wWldR Z2IyIDRnZE dobElFWnYg Y21KbGN5Qk hiRyA5aVlX d2dNakF3IE 1DQnNhWE4w TGcgPT0KIC AgICAgICA8 L3NwYW4+Ci AgICAgICAg CiAgICAgIC Ag
See Company Q&A