Category Archives: All Announcements

Covers all official announcements on the MINAX platform, including listings, events, system updates, and brand developments.

[Showcase] Fortune Shuangyu Brand Application Display

Dear Users,

According to the regulations of the MINAX Brand Asset Exchange, the following brand has submitted an application for listing. We are now showcasing its basic information, inviting public attention, and welcoming suggestions or feedback from all sectors.

1. Brand Basic Information

  • Brand Name:Fortune Shuangyu
  • Brand Introduction:As the world’s leading AI edge cloud service provider and the exclusive brand licensor of Philips Router in Greater China, Changyuan Angxun Shuangyu Network Technology Co., Ltd. is committed to building a world leading AI edge cloud path ecological value sharing operation platform, an Internet technology company integrating multi-functional distributed shared computing such as content distribution, edge computing, storage cloud, advertising investment, and hardware development. By adopting the dual brand dual wheel drive strategy of “Philips and Shuangyu”, the 7th generation innovative router integrates idle bandwidth resources of households and enterprises, achieving resource sharing and value realization. At present, two rounds of financing have been completed, and the product order volume will exceed 100000 units by 2024, achieving full chain operation of the 1.0 model.

2. Objective of Brand Display

  1. Information Transparency:
    Providing basic brand information for users to understand and ensuring operational transparency on the platform.
  2. Public Oversight:
    Welcoming user feedback to enhance platform services and brand management standards.

3. Feedback Method

4. Special Disclaimer

  1. This display is solely for the purpose of information disclosure. The information is for reference only and does not constitute a formal commitment to the brand’s listing.
  2. The formal inclusion in the public announcement phase and subsequent processes will be determined based on the brand’s qualifications, market evaluation, and compliance review results.

Thank you for your attention and support! MINAX Brand Asset Exchange is committed to fostering a transparent trading environment and providing efficient and innovative brand asset services to our users.

Sincerely,

MINAX Operations Team
January 21, 2025

Telegram Community (Btok Link) / Social Platform X  /  Contact Us  / About Us

【Risk Reminder】The market is subject to risks; investments require caution. The prices of brand assets may experience significant fluctuations due to market conditions, and investors may incur partial or total losses. Please make prudent decisions based on your own financial situation and investment goals. MINAX, as a trading platform, does not bear responsibility for the results of users’ investments.
【Special Note】MINAX reserves the right to modify, change, or cancel this announcement at its sole discretion at any time without prior notice. In the event of any discrepancies between the English and Traditional Chinese versions of this announcement, the Traditional Chinese version shall prevail. The content of this announcement may be updated as needed; please refer to the latest updates.

[Showcase] IndivBio Brand Application Display

Dear Users,

According to the regulations of the MINAX Brand Asset Exchange, the following brand has submitted an application for listing. We are now showcasing its basic information, inviting public attention, and welcoming suggestions or feedback from all sectors.

1. Brand Basic Information

  • Brand Name: IndivBio
  • Brand Introduction:I am Yinwei, providing you with personalized probiotic solutions to make health easier. We continue to focus on human microbiota, with our own research and development platform and a large database of human microbiota, to develop professional and reliable probiotic products.

2. Purpose of Display

  1. Information Transparency:
    Providing basic brand information for users to understand and ensuring operational transparency on the platform.
  2. Public Oversight:
    Welcoming user feedback to enhance platform services and brand management standards.

3. Feedback Method

4. Special Disclaimer

  1. This display is solely for the purpose of information disclosure. The information is for reference only and does not constitute a formal commitment to the brand’s listing.
  2. The formal inclusion in the public announcement phase and subsequent processes will be determined based on the brand’s qualifications, market evaluation, and compliance review results.

Thank you for your attention and support! MINAX Brand Asset Exchange is committed to fostering a transparent trading environment and providing efficient and innovative brand asset services to our users.

Sincerely,

MINAX Operations Team
January 21, 2025

Telegram Community (Btok Link) / Social Platform X  /  Contact Us  / About Us

【Risk Reminder】The market is subject to risks; investments require caution. The prices of brand assets may experience significant fluctuations due to market conditions, and investors may incur partial or total losses. Please make prudent decisions based on your own financial situation and investment goals. MINAX, as a trading platform, does not bear responsibility for the results of users’ investments.
【Special Note】MINAX reserves the right to modify, change, or cancel this announcement at its sole discretion at any time without prior notice. In the event of any discrepancies between the English and Traditional Chinese versions of this announcement, the Traditional Chinese version shall prevail. The content of this announcement may be updated as needed; please refer to the latest updates.

[Showcase] iPretty Brand Application Display

Dear Users,

According to the regulations of the MINAX Brand Asset Exchange, the following brand has submitted an application for listing. We are now showcasing its basic information, inviting public attention, and welcoming suggestions or feedback from all sectors.

1. Brand Basic Information

  • Brand Name: iPretty
  • Brand Introduction:iPretty, originating from Osaka, is a leading brand in the beauty and health industry in the Shinsaibashi shopping district, with three stores that are deeply loved by both locals and tourists from around the globe. We are dedicated to creating a more beautiful and healthier life experience for our customers. We offer a variety of beauty and health care services, including traditional hand massage that carries on the legacy of ancient massage techniques. Our AI robot massage, a pioneering service in the Kansai region, combines technology with professional massage skills. Through sensors and 3D visual measurement, it can accurately identify muscle hardness and acupoints, providing personalized massage programs for each customer. We empower our services with technology, leveraging AI to enhance service efficiency and quality, and to alleviate the industry’s labor shortage issue. We also offer a franchise chain plan for AI robot services, providing technical support and business guidance to help entrepreneurs succeed.

2. Purpose of Display

  1. Information Transparency:
    Providing basic brand information for users to understand and ensuring operational transparency on the platform.
  2. Public Oversight:
    Welcoming user feedback to enhance platform services and brand management standards.

3. Feedback Method

4. Special Disclaimer

  1. This display is solely for the purpose of information disclosure. The information is for reference only and does not constitute a formal commitment to the brand’s listing.
  2. The formal inclusion in the public announcement phase and subsequent processes will be determined based on the brand’s qualifications, market evaluation, and compliance review results.

Thank you for your attention and support! MINAX Brand Asset Exchange is committed to fostering a transparent trading environment and providing efficient and innovative brand asset services to our users.

Sincerely,

MINAX Operations Team
January 21, 2025

Telegram Community (Btok Link) / Social Platform X  /  Contact Us  / About Us

【Risk Reminder】The market is subject to risks; investments require caution. The prices of brand assets may experience significant fluctuations due to market conditions, and investors may incur partial or total losses. Please make prudent decisions based on your own financial situation and investment goals. MINAX, as a trading platform, does not bear responsibility for the results of users’ investments.
【Special Note】MINAX reserves the right to modify, change, or cancel this announcement at its sole discretion at any time without prior notice. In the event of any discrepancies between the English and Traditional Chinese versions of this announcement, the Traditional Chinese version shall prevail. The content of this announcement may be updated as needed; please refer to the latest updates.

[Showcase] Xiaobawang Brand Application Display

Dear Users,

According to the regulations of the MINAX Brand Asset Exchange, the following brand has submitted an application for listing. We are now showcasing its basic information, inviting public attention, and welcoming suggestions or feedback from all sectors.

1. Brand Basic Information

  • Brand Name: Xiaobawang
  • Brand Introduction:Xiaobawang brand was founded in 1987 and is a well-known brand that emerged in the early stages of China’s reform and opening up. It is the pioneer and leader of China’s learning and gaming machine industries and is known as the “Huangpu Military Academy of China’s electronics industry”. It specializes in the development, research, production, and sales of educational electronic products.

2. Purpose of Display

  1. Information Transparency:
    Providing basic brand information for users to understand and ensuring operational transparency on the platform.
  2. Public Oversight:
    Welcoming user feedback to enhance platform services and brand management standards.

3. Feedback Method

4. Special Disclaimer

  1. This display is solely for the purpose of information disclosure. The information is for reference only and does not constitute a formal commitment to the brand’s listing.
  2. The formal inclusion in the public announcement phase and subsequent processes will be determined based on the brand’s qualifications, market evaluation, and compliance review results.

Thank you for your attention and support! MINAX Brand Asset Exchange is committed to fostering a transparent trading environment and providing efficient and innovative brand asset services to our users.

Sincerely,

MINAX Operations Team
January 20, 2025

Telegram Community (Btok Link) / Social Platform X  /  Contact Us  / About Us

【Risk Reminder】The market is subject to risks; investments require caution. The prices of brand assets may experience significant fluctuations due to market conditions, and investors may incur partial or total losses. Please make prudent decisions based on your own financial situation and investment goals. MINAX, as a trading platform, does not bear responsibility for the results of users’ investments.
【Special Note】MINAX reserves the right to modify, change, or cancel this announcement at its sole discretion at any time without prior notice. In the event of any discrepancies between the English and Traditional Chinese versions of this announcement, the Traditional Chinese version shall prevail. The content of this announcement may be updated as needed; please refer to the latest updates.

[Notice]Asiabrand Brand Asset Successfully Listed for Trading

Dear Users,

We are pleased to announce that Asiabrand Brand Asset (Code: ABG) has been successfully listed for trading as of 19:00, January 18, 2025 (UTC+8). We warmly invite all users to participate in trading!

The listing marks a significant leap in the brand financial ecosystem, ushering in a new era of brand asset value realization.

1. Overview of Listing Information

  • Asset Name: Asiabrand Brand Asset
  • Asset Code: ABG
  • Total Issuance: 400,000,000 units
  • Initial Circulation Volume: 2,000,000 units
  • Reference Listing Price: 0.01 USD
  • Trading Pair: ABG/USDT
  • Trading Model: 24/7 real-time trading, no price fluctuation limit
  • Trading Entry: Click to Trade
  • Deposit & Withdrawal: Deposit and withdrawal functions are temporarily unavailable. The specific opening time will be announced separately.
  • Related Links: Listing Announcement | Brand Introduction

2. Security Reminders

Risk Warning:

Market prices are influenced by various factors, including market demand, brand promotion, and macroeconomic conditions, leading to potential price volatility. Investors should fully understand the risks, assess their individual risk tolerance, and bear the associated market risks. MINAX provides support for asset trading only and does not assume responsibility for investment outcomes.

Account Security:

Account security is critical. Please complete identity verification, enable multi-factor authentication, and ensure the proper safeguarding of your account information.

3. Important Notes

The content of this announcement is for reference only. All information is subject to the actual operations of the platform. For inquiries, please contact us through official channels at: support@minax.io.

Thank you for your support! MINAX will continue to drive the development of brand asset digitization, aiming to build a premium brand asset trading service ecosystem for users worldwide.

MINAX Platform Features Explained: A Win-Win Model for Brand Financing and Investor Returns >>

MINAX Operations Team
January 18, 2025

Telegram Community (Btok Link) / Social Platform X  /  Contact Us  / About Us

【Risk Reminder】The market is subject to risks; investments require caution. The prices of brand assets may experience significant fluctuations due to market conditions, and investors may incur partial or total losses. Please make prudent decisions based on your own financial situation and investment goals. MINAX, as a trading platform, does not bear responsibility for the results of users’ investments.
【Special Note】MINAX reserves the right to modify, change, or cancel this announcement at its sole discretion at any time without prior notice. In the event of any discrepancies between the English and Traditional Chinese versions of this announcement, the Traditional Chinese version shall prevail. The content of this announcement may be updated as needed; please refer to the latest updates.

[Listing] MINAX Global Debut: Asiabrand Brand Asset Set to Be Listed

Dear Users,

MINAX Brand Asset Exchange is pleased to announce that Asiabrand (Code:ABG) will be listed for trading on 19:00, January 18, 2025 (UTC+8).

The launch marks the beginning of a new chapter in the digitalization of brand assets, paving the way for the future development of a brand financial ecosystem.

I. Asset Information

  • Asset Name: Asiabrand Brand Asset
  • Asset Code: ABG
  • Total Issuance: 400,000,000 units
  • Initial Circulation Volume: 2,000,000 units
  • Reference Listing Price: 0.01 USD
  • Initial Valuation: 4,000,000 USD

II. Trading Details

  • Listing Time: 2025-01-18 19:00 (UTC+8)
  • Supported Trading Pair: ABG/USDT
  • Trading Mode: 24/7 real-time trading with no price limits
  • Deposit and Withdrawal: Currently unavailable; updates to follow as applicable

III. Brand Background and Highlights

Asiabrand, established in Hong Kong in 2005, is a professional brand value systematization service organization. The group takes ABAS expert group as its think tank, with new brand, new technology, and new finance as its development strategy. It carries out three core businesses: brand evaluation, value-added management, and integrated financial services. Currently, it has 18000 member enterprises and is fully committed to building a brand finance ecosystem. Its subsidiaries have multiple independent intellectual property patented technologies and brand evaluation independent scientific research achievements, and have obtained the qualifications of national high-tech enterprises and Zhongguancun high-tech enterprises. At the end of 2019, the “Pinxinbao” brand value management platform was launched, based on Asiabrand brand brand value evaluation 3.0 technology. Through the exclusive development of BVM management system, it helps Chinese enterprises achieve brand financing and value management.   Click to learn more >>

  • Market Performance: Monthly revenue averages USD 1.33M, with an estimated annual revenue of USD 16M.

IV. Buyback, Lock, and Unlock Mechanisms

Buyback Mechanism:

  • The brand plans to implement a regular buyback mechanism, with monthly buyback amounts estimated at approximately $67,000 and an annual total of approximately $800,000.Actual buyback amounts will be adjusted based on the brand’s receivables to ensure sustained operations and steady project development.
  • The repurchased assets will be regularly destroyed, reducing market circulation. All buyback funding usage and destruction data will be publicly disclosed on-chain, ensuring transparency for investor oversight.

Lock and Unlock Mechanism:

  • Initial circulation volume: 2,000,000 units.
  • Remaining 398,000,000 locked units will be unlocked proportionally to the buyback quantity.

V. Important Notes

  • Risk Notice: The market involves risks, and investments require caution. Brand asset prices may fluctuate significantly due to market demand, brand promotion, macroeconomic factors, etc. Please understand the risks before investing and make informed decisions. MINAX only provides trading support and is not responsible for investment outcomes.
  • Account Security: Please ensure account information security and complete identity verification to participate in trading smoothly.

Additional Information:

  • The information in this announcement is for reference only and is subject to actual conditions.
  • MINAX reserves the final interpretation right of this announcement.
  • For any questions, please contact official customer support: support@minax.io.

Thank you for your support. MINAX is dedicated to driving innovation in asset branding and creating a win-win trading platform for brands and investors worldwide.
MINAX Platform Guide: New Model for Brand Financing & Investor Gains >>

MINAX Operations Team
January 18, 2025

Telegram Community (Btok Link) / Social Platform X  /  Contact Us  / About Us

【Risk Reminder】The market is subject to risks; investments require caution. The prices of brand assets may experience significant fluctuations due to market conditions, and investors may incur partial or total losses. Please make prudent decisions based on your own financial situation and investment goals. MINAX, as a trading platform, does not bear responsibility for the results of users’ investments.
【Special Note】MINAX reserves the right to modify, change, or cancel this announcement at its sole discretion at any time without prior notice. In the event of any discrepancies between the English and Traditional Chinese versions of this announcement, the Traditional Chinese version shall prevail. The content of this announcement may be updated as needed; please refer to the latest updates.

[Showcase]XBAY Brand Application Display

Dear Users,

According to the regulations of the MINAX Brand Asset Exchange, the following brand has submitted an application for listing. We are now showcasing its basic information, inviting public attention, and welcoming suggestions or feedback from all sectors.

1. Brand Basic Information

  • Brand Name: XBAY
  • Brand Introduction:XOOBAY GLOBAL is an innovative Web3.0 cross-border e-commerce platform that provides global sales channels for manufacturers, suppliers, and individuals. By integrating blockchain technology and artificial intelligence, we aim to create a fast and convenient global trade platform. Join XOOBAY Global to experience the new era of e-commerce and achieve seamless and efficient global trade.

2. Purpose of Display

  1. Information Transparency:
    Providing basic brand information for users to understand and ensuring operational transparency on the platform.
  2. Public Oversight:
    Welcoming user feedback to enhance platform services and brand management standards.

3. Feedback Method

4. Special Disclaimer

  1. This display is solely for the purpose of information disclosure. The information is for reference only and does not constitute a formal commitment to the brand’s listing.
  2. The formal inclusion in the public announcement phase and subsequent processes will be determined based on the brand’s qualifications, market evaluation, and compliance review results.

Thank you for your attention and support! MINAX Brand Asset Exchange is committed to fostering a transparent trading environment and providing efficient and innovative brand asset services to our users.

Sincerely,

MINAX Operations Team
January 16, 2025

Telegram Community (Btok Link) / Social Platform X  /  Contact Us  / About Us

【Risk Reminder】The market is subject to risks; investments require caution. The prices of brand assets may experience significant fluctuations due to market conditions, and investors may incur partial or total losses. Please make prudent decisions based on your own financial situation and investment goals. MINAX, as a trading platform, does not bear responsibility for the results of users’ investments.
【Special Note】MINAX reserves the right to modify, change, or cancel this announcement at its sole discretion at any time without prior notice. In the event of any discrepancies between the English and Traditional Chinese versions of this announcement, the Traditional Chinese version shall prevail. The content of this announcement may be updated as needed; please refer to the latest updates.

[Showcase]ASIAN BRAND GROUP HOLDINGS LIMITED Brand Application Display

Dear Users,

According to the regulations of the MINAX Brand Asset Exchange, the following brand has submitted an application for listing. We are now showcasing its basic information, inviting public attention, and welcoming suggestions or feedback from all sectors.

1. Brand Basic Information

  • Brand Name: ASIAN BRAND GROUP HOLDINGS LIMITED
  • Brand Introduction:
    Asiabrand, established in Hong Kong in 2005, is a professional brand value systematization service organization. The group takes ABAS expert group as its think tank, with new brand, new technology, and new finance as its development strategy. It carries out three core businesses: brand evaluation, value-added management, and integrated financial services. Currently, it has 18000 member enterprises and is fully committed to building a brand finance ecosystem.Its subsidiaries have multiple independent intellectual property patented technologies and brand evaluation independent scientific research achievements, and have obtained the qualifications of national high-tech enterprises and Zhongguancun high-tech enterprises. At the end of 2019, the “Pinxinbao” brand value management platform was launched, based on Asiabrand brand brand value evaluation 3.0 technology. Through the exclusive development of BVM management system, it helps Chinese enterprises achieve brand financing and value management.

2. Purpose of Display

  1. Information Transparency:
    Providing basic brand information for users to understand and ensuring operational transparency on the platform.
  2. Public Oversight:
    Welcoming user feedback to enhance platform services and brand management standards.

3. Feedback Method

4. Special Disclaimer

  1. This display is solely for the purpose of information disclosure. The information is for reference only and does not constitute a formal commitment to the brand’s listing.
  2. The formal inclusion in the public announcement phase and subsequent processes will be determined based on the brand’s qualifications, market evaluation, and compliance review results.

Thank you for your attention and support! MINAX Brand Asset Exchange is committed to fostering a transparent trading environment and providing efficient and innovative brand asset services to our users.

Sincerely,

MINAX Operations Team
January 13, 2025

Telegram Community (Btok Link) / Social Platform X  /  Contact Us  / About Us

【Risk Reminder】The market is subject to risks; investments require caution. The prices of brand assets may experience significant fluctuations due to market conditions, and investors may incur partial or total losses. Please make prudent decisions based on your own financial situation and investment goals. MINAX, as a trading platform, does not bear responsibility for the results of users’ investments.
【Special Note】MINAX reserves the right to modify, change, or cancel this announcement at its sole discretion at any time without prior notice. In the event of any discrepancies between the English and Traditional Chinese versions of this announcement, the Traditional Chinese version shall prevail. The content of this announcement may be updated as needed; please refer to the latest updates.

[NEWS]RWA Market Soars: Brand RWA Emerges as a New Trend, DeRing Successfully Listed on MINAX

Since last year, the RWA (Real-World Asset Tokenization) market has shown unprecedented growth momentum. Traditional financial giants like BlackRock and UBS have entered the RWA track, and the Hong Kong Monetary Authority, in collaboration with Ant Group, has launched an RWA project focused on new energy physical assets, setting a benchmark for the Asian market. Against this backdrop, the RWA sector is experiencing a new trillion-dollar trend—Brand RWA. This innovative model enables global brands, whether established giants or SMEs, to transform intangible brand assets into digital assets, opening new financing channels and revenue streams while maximizing brand value in the global market.

A Milestone for Brand RWA: DeRing Listed on MINAX

On January 9, 2025, the Brand RWA sector witnessed a landmark event: DeRing, the first smart hardware brand, was officially listed on the MINAX Global Brand Exchange in Dubai. DeRing’s successful listing signifies the first successful implementation of the Brand RWA model in the smart hardware field, offering valuable insights for other global brands.

Chairman of the MINAX Board, Fangxiong Gong, remarked, “DeRing’s listing is a significant milestone. We hope its innovative RWA model will inspire more brands worldwide.”

Brand RWA: A Bright Prospect for 2025

Gong emphasized that brand assets are a crucial part of enterprise value, especially for tech companies, SMEs, and service industries, where brand value often accounts for 70% to 90% of total enterprise value. However, pricing and monetizing brand value have long been challenges in capital markets. Listing brand assets on exchanges enables companies to assess and monetize their brand value, accelerating their growth trajectory.

MINAX investor and Chairman of Taiyi Group, Dendi, highlighted that injecting brand assets into the Web3 world represents a trillion-dollar opportunity. Currently, three types of brand assets are traded on MINAX: brand licensing assets, brand data assets, and brand IP assets. He outlined a comprehensive ecosystem and future roadmap for deeper integration of brands with Web3 to empower the real economy.

RWA Compliance and Future Directions

RWA Institute founder Long Dian noted that RWA is poised to become a standout sector in 2025. Acting as a bridge between the real world and Web3, RWA overcomes traditional asset liquidity constraints, enabling 24/7 global transactions. Long also announced plans for the RWA Institute to launch operations and host summits to help more brands and assets enter the RWA field.

Renowned academic Professor Zou Yu and Klickl Digital Group Chairman Michael Zhao emphasized the need for stronger compliance and liquidity in RWA to ensure its sustainable development.

The Success of DeRing

As a smart health ring brand, DeRing utilized the RWA model to digitize its real-world assets. Users can redeem brand assets for high-end medical services like cancer screenings and health check-ups while enjoying exclusive discounts. DeRing also introduced a buyback and burn mechanism to maintain asset scarcity and steadily increase value.

DeRing Co-Founder Kevin Lee stated that future plans include multi-scenario expansions, global network development, and technology empowerment to create a full-lifecycle health management ecosystem.

With DeRing’s successful listing, the Brand RWA sector is set to attract more attention and opportunities for growth in the future.

[Buyback] NIKUSA Brand Asset First Buyback Disclosure

Dear Users,
According to the brand asset buyback plan, 15% of the monthly revenue of the NIKUSA brand will be allocated to buy back NIKUSA assets. The revenue for December was 2,229,045 HKD, and the current buyback details are as follows:

Buyback Asset Information

  • Brand Name: NIKUSA
  • Asset Code: NIKUSA
  • Buyback Amount: 334,356.75 HKD (approximately 42,945.53 USDT)
  • Average Buyback Price: 0.280825 USDT
  • Buyback Burn Address: 0x000000000000000000000000000000000000dEaD
  • Buyback Burn Quantity: 152,926 tokens
  • Expected Release Quantity: 152,926 units (corresponding to an equal release under the lock-up mechanism)
  • Total Supply Before Buyback: 31,500,000 tokens
  • Estimated Total Supply After Buyback: 31,347,074 units (Total supply before buyback – Current burn quantity)

Relevant Notes

The records of this buyback and burn process will be made transparent using blockchain technology, enabling real-time monitoring by investors.
The data in this announcement has been initially compiled by the brand and has not been independently verified or audited by third parties. Therefore, adjustments may be required in subsequent announcements or buybacks if there are any discrepancies.

  • Next Month’s Revenue Forecast: Expected to be similar to this month.

Related Links

If you have any questions, please contact us via official customer support channels: support@minax.io
Thank you for your attention and support!

MINAX Operations Team
January 10, 2025

Telegram Community (Btok Link) / Social Platform X  /  Contact Us  / About Us

【Risk Reminder】The market is subject to risks; investments require caution. The prices of brand assets may experience significant fluctuations due to market conditions, and investors may incur partial or total losses. Please make prudent decisions based on your own financial situation and investment goals. MINAX, as a trading platform, does not bear responsibility for the results of users’ investments.
【Special Note】MINAX reserves the right to modify, change, or cancel this announcement at its sole discretion at any time without prior notice. In the event of any discrepancies between the English and Traditional Chinese versions of this announcement, the Traditional Chinese version shall prevail. The content of this announcement may be updated as needed; please refer to the latest updates.