Aleksey Yefremov

You mentioned you'll have better profitability because of higher spodumene prices. But how do you think this would evolve in maybe first half of '26?

Did you pull those opportunities forward? Or could you bring CapEx down even more after -- after you just stepped it down?

Should we just think about this as the basis sort of, of the run rate for next year?

You're forecasting demand to grow 200 to 600 kilotons this year. How much do you think the upstream capacity would be added this year as well?

could you also broadly talk about your outlook for mining costs at both Wodgina and Greenbushes and maybe La Negra

Assuming market prices don't change, can you get to that maintenance level in 2026?

Any comments on risk assessment for delays, cost overruns, that kind of thing? Like how is the project going from your point of view?

what share of your business will be off patent versus patent and new products in '26

Could you talk about the remaining 35%? How are these products competitively positioned

Are you seeing any interest in your products as an alternative to China generics, maybe somewhere else in the world?

Can you discuss what you're currently seeing in auto trends right now and maybe the cadence for your outlook for 2026

Is that still on the table sometime later in '25, or how do you think about that dynamic, as China being so strong last year?

Any further divestments or do you see any interesting bolt-ons here?

Do you have an assumption for underlying market growth in Semis and Interconnect

I wanted to clarify if your $1 billion cost-reduction target includes the European actions that you will be discussing in the middle of 2025

What's your latest thinking in terms of anti-involution policies, what we would have -- any more specific news maybe in the next few quarters there

Can you just describe the current state of it? How have margins changed sort of in the middle of this more stressful environment

I was hoping you could just give us some details on total volumes and price for organic growth in '26

Should we think about those types of growth rates as sort of achievable in your thoughts for '26

I think you talked about high single-digit sequential growth. It does seem quite a bit above your normal seasonality

Is there a similar dynamic where your customers are adopting new technologies where you can gain content

should it revert to sort of more typical EBITDA growth faster than sales over the next quarter or 2

I wanted to come back to your comments on focusing more on volumes than price this year.

I wanted to ask you about your comments on the second half of next year.

Do you expect to stay at roughly these levels of sales when we send them to the second half, or could there be more pronounced deterioration

I wanted to come back to the consumer question was in PSG. I mean, your res repaints performance has been very solid and steady. But are you hearing like how are consumers reacting to current uncer...

what kind of demand improvement can your current footprint of stores and associates accommodate before you need to ramp up as G&A investments?