Yeah, I want to highlight X‑FAB is a pure‑play analog and mixed‑signal specialty foundry – process nodes from 1.0 µm down to 110 nm on 150 mm and 200 mm wafers, across six fabs in four countries: Erfurt, Dresden and Itzehoe in Germany, Corbeil‑Essonnes in France, Kuching in Malaysia and Lubbock, Texas. The moat, we say, sits in re‑qualification friction rather than contracts, with automotive, industrial and medical end‑markets making 94 % of revenue, and utilization in the low‑60s % showing it is not currently translating into pricing power. Does that answer the question?