Dear User, Thank you for your comment and for highlighting this point. Our ASPI target is based on 12-month forward earnings, as we believe the market generally prices in future earnings rather than current-year earnings. Accordingly, our end-2026 ASPI target is derived using our 2027 earnings forecasts, as we believe a significant portion of 2026 earnings expectations is already reflected in market prices given that we are now halfway through the year. The valuation table on Page 7 serves a different purpose. It presents fair values calculated after each quarter using the prevailing trailing/rolling earnings at that point in time and is not intended to represent the timeline of our year-end ASPI target. We appreciate that this distinction could have been made clearer, and we apologise for any confusion caused. If you have any further questions, please feel free to reach out to your investment advisor. We will also be hosting a webinar on our strategy report on 13 July, where we will discuss our outlook in detail and address participants' questions. We would be delighted to have you join us.