It is probably not the Russo-Ukrainian war as the most global geopolitical event in the spring of 2022. With the conflict between the two sides, global commodities attracted a new round of price increases, especially oil, steel, chemicals, and chips, in the short term. Among them, the most concerned is the international oil price, which has been high recently; it is undeniable as a member of the forklift industry.

Recently, we have received more and more customers consulting electric forklifts, and these customers are long-term users. When it comes to February 24, 2022 war, everything is over, customer feedback the use of the cost is too big, the current international oil prices have reached $120 a barrel, at the same time to see the signs of a sharp reduction. It is essential and significantly impacts the fuel forklift and electric forklift. Through an economic model, the customer found that electric forklift price is very high, basically fuel car and electric forklift in use years after 3 years. The electric forklift investment cost is consistent with the truck; the team will save more fuel costs from the fourth year than from fuel forklifts.

Although some may remind you: don't forget, the current price of lithium batteries are not cheap. Through the research, we found although lithium battery price is an inevitable increase, but has not reached the point of such crazy as oil prices. At the same time, China, as the world's primarylithium batteryproduction and exports, the Chinese government recently announced the upstream lithium resources enterprise interview price control, has achieved specific results.

Therefore, we are optimistic that the global electric forklift market in 2022 will usher in explosive growth, and the market growth will be greater than the overall market increase rate of 2021.

We, MIMA electric forklift, have 20-year developing history, are a high-tech enterprise specializing in R&D and supplying material handling solutions for different industries. MMA has the profound meaning: "Minimum Space, Maximum Benefit" we believe urban logistics is a megatrend that needs new, smart and saving space solutions. We have those solutions already today. We established in 2000, and our factory is located in Hefei City, Anhui Province. We are a high-tech enterprise specializing in R&D and supplying material handling solutions for different industries. Our company has passed ISO9001:2008 quality management system certification, the PRC's special equipment production license, and awarded Hefei city innovative enterprises. The products have passed CE certification and SGS certification. They are electric pallet truck, electric pallet stacker, reach truck, electric towing tractor, order picker, multi-directional reach truck, and particular logistic types equipment. They are widely used in foodstuff, chemical, electronics, machinery, furniture, logistics, etc.

In recent years, we have enhanced the R&D and sales resources in a particular model truck, for example, VNA truck, multi-directional forklift, articulated forklift, and AGV truck solution. We have a long history of design and R&D for these particular models of trucks even their requirement is not very large. The first3-way pallet stackerwe sold out in 2010 and totaled over 1500 units. The articulated forklift is our newly developed model and will start to sell in 2021, and it is popular in Europe, South Korea, and America. We began to design and sell multi-directional forklifts 10 years ago, and we have a significant market share in China's domestic market.

At work, we have complete confidence for 2022 global electric forklift market performance, and MIMA will continue to provide better quality and service for international customers.