Q4 China's trade-in program generated over 2.6 trillion yuan in sales in 2025, alongside the "Shopping in China" and "Export to China" initiatives. China's exports grew 6.1 percent year-on-year. How is your company aligning its China strategy to capture both domestic consumption upgrades and export-oriented opportunities? Do you see China increasingly as a global production and innovation base serving international markets? How are you balancing local demand expansion with China's role in your global export ecosystem?

Michael Doogue: China's trade-in program and related initiatives reinforce the dual role China plays in Allegro's strategy — as both a powerful domestic market and an increasingly important part of our global supply and innovation ecosystem. We have aligned our China strategy to capture rising domestic demand for higher-performance, energy-efficient solutions while also supporting export-oriented growth. China's comprehensive industrial base and advanced manufacturing capabilities make it a vital part of Allegro's global production and innovation network. By leveraging local R&D collaboration and supply chain partnerships, we ensure that solutions developed and manufactured in China can serve not only Chinese customers but also global markets with speed and reliability.