{"product_id":"cosan-five-forces-analysis","title":"Cosan Porter's Five Forces Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eElevate Your Analysis with the Complete Porter's Five Forces Analysis\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eCosan faces moderate supplier power, intense rivalry across energy and logistics segments, and shifting buyer expectations as ethanol and fuels markets evolve, while substitutes and entry barriers vary by region—this snapshot highlights core pressures shaping strategy and margins. This brief snapshot only scratches the surface. Unlock the full Porter's Five Forces Analysis to explore Cosan’s competitive dynamics, market pressures, and strategic advantages in detail.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003euppliers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eConcentration of Sugarcane Producers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cpcosan primarily through ra sources roughly of its sugarcane from independent growers who supplement company estates so supplier concentration is high but dispersed. proximity to mills within km bargaining power by raising switching costs processed million tonnes cane in still during h1 when global sugar prices rose large secured premium contracts showing conditional leverage.\u003e\n\u003c\/pcosan\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGlobal Commodity Price Volatility\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eSuppliers of fertilizers, pesticides and machinery—global firms like Bayer and John Deere—wield strong bargaining power because prices track international commodity markets and FX; fertilizer costs rose ~35% YoY in 2023 and remained elevated into 2024, raising input spend for sugarcane growers.\u003c\/p\u003e\n\u003cp\u003eCosan (ticker CZZ23\/COSAN on B3) must absorb or pass on higher input costs to protect margins; a 10% rise in fertilizer prices can cut ethanol gross margin by ~3–5 percentage points given 2024 input-to-revenue ratios.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEnergy and Infrastructure Equipment Costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFor Compass and Rumo, a small pool of suppliers for specialized industrial equipment and railway components raises supplier leverage; global rail suppliers account for roughly 60–70% of key parts supply chains. The high technical specs for gas distribution and logistics infrastructure tie Cosan to a few global engineering firms, which charge premium margins—often 10–25% above commodity equivalents. This concentration gives technology and hardware suppliers moderate to high bargaining power, raising CapEx risk for 2024–25 projects.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLabor Market Dynamics and Unionization\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eSkilled labor in logistics and energy is scarce and highly unionized in Brazil; Cosan faces collective bargaining that in 2024 pushed wage costs up ~8% in transport segments, raising operating expenses and EBITDA pressure.\u003c\/p\u003e\n\u003cp\u003eStrong unions can halt rail or fuel distribution briefly, so stable labor relations are vital to avoid supply-chain outages that would cut revenue across Raízen and Rumo assets.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHigh union density in transport: ~30–40% (sector 2024)\u003c\/li\u003e\n\u003cli\u003eWage rises ~8% in 2024 collective deals\u003c\/li\u003e\n\u003cli\u003eStrike risk = direct service disruption, revenue loss\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLand Lease and Ownership Regulations\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp of cosan agricultural and logistics footprint depends on land constrained by brazil forest code car registry rules landowners in mato grosso s paulo sugarcane key rail corridors sit localized bargaining power that can raise lease costs or delay projects.\u003e\u003c\/p\u003e\n\u003cp faces long-term lease complexity: average agricultural renewals run years land value in key states rose and regulatory changes app preservation can trigger renegotiation or compensation.\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eKey regions: Mato Grosso, São Paulo — 40% sugarcane\u003c\/li\u003e\n\u003cli\u003eLease terms: typically 10–30 years\u003c\/li\u003e\n\u003cli\u003eLand value rise: ~18% (2021–2024)\u003c\/li\u003e\n\u003cli\u003eRisk: environmental rules force renegotiation\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRaízen: 40.8m t cane, dispersed growers blunt supplier power as input costs bite\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eSuppliers: dispersed 200,000 growers provide ~60% of 2024 cane to Raízen, limiting single-supplier power but allowing large farms to secure premiums during price spikes; Raízen processed 40.8m tonnes in 2024. Input suppliers (fertilizer, machinery) exert high power—fertilizer +35% YoY in 2023 and remained high into 2024—hitting margins ~3–5ppt per 10% fertilizer rise. Rail\/equipment vendors and unions (wages +8% in 2024) add moderate–high leverage.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eCane processed (Raízen)\u003c\/td\u003e\n\u003ctd\u003e40.8m t\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGrowers supplying %\u003c\/td\u003e\n\u003ctd\u003e~60%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFertilizer price change\u003c\/td\u003e\n\u003ctd\u003e+35% (2023)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eWage rises (transport)\u003c\/td\u003e\n\u003ctd\u003e+8%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eConcise Porter's Five Forces review of Cosan, assessing competitive rivalry, supplier and buyer power, threat of substitutes and entry barriers, and identifying strategic pressures and opportunities shaping its profitability.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eConcise Porter's Five Forces snapshot for Cosan—clarifies competitive pressures instantly for faster strategic decisions.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eWholesale Fuel Market Sensitivity\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThrough Raízen, Cosan supplies over 7,800 Shell-branded stations and large industrial clients who react strongly to price swings; Brazilian pump-price volatility hit ±8% in 2024, raising sensitivity. The Shell brand gives some loyalty, but fuel is commoditized, so buyers can shift to rivals like Vibra Energia (market share ~18% nationwide in 2024) if price gaps exceed a few cents per liter. That keeps wholesale buyer bargaining power relatively high.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIndustrial Gas Contract Structures\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCompass Gás e Energia supplies large industrial clients under long-term contracts; in 2024 about 62% of industrial gas volumes were under multi-year agreements, giving customers leverage to demand volume discounts of 5–12% and bespoke delivery SLAs.\u003c\/p\u003e\n\u003cp\u003eThose high-value accounts (top 20 clients ~48% of industrial margin in 2024) make renewals critical; customers often push price reductions or penalty repricing at renewal, increasing Cosan’s revenue volatility if industrial demand drops.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLogistics Dependency and Rumo Services\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCustomers relying on Rumo’s rail network, notably Brazil’s grain exporters shipping ~90m tonnes in 2024, face scarce long-haul bulk alternatives, which lowers their bargaining power versus Cosan’s fuel segment.\u003c\/p\u003e\n\u003cp\u003eStill, if Rumo’s service declines—delays, higher tariffs—shippers can shift to trucking (road share rose 18% 2019–24) or reroute to competing ports, keeping pressure on pricing and contracts.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRetail Consumer Price Elasticity\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eIndividual motorists can easily switch brands at the pump, giving high bargaining power for brand choice, but they lack leverage to negotiate individual prices.\u003c\/p\u003e\n\u003cp\u003eCollectively, consumers shift to unbranded or discount stations in downturns—Brazil saw fuel-volume share of discount stations rise ~4.5% in 2023 vs 2021.\u003c\/p\u003e\n\u003cp\u003eCosan counters with loyalty programs (Raízen Posto rewards) and premium fuels; loyalty members delivered ~12% higher ticket in 2024, lowering price elasticity.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHigh brand-switching power\u003c\/li\u003e\n\u003cli\u003eLow individual price negotiation\u003c\/li\u003e\n\u003cli\u003e4.5% rise in discount-station share (2021–2023)\u003c\/li\u003e\n\u003cli\u003e12% higher spend from loyalty members (2024)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGovernmental and Regulatory Oversight\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cpas a major provider of fuel and logistics cosan faces the brazilian government acting like proxy customer: anp price monitoring periodic regulatory caps constrain margins limit pricing freedom.\u003e\n\u003cppolicy shifts brazil diesel subsidy discussions and draft gas-tariff revisions push bargaining power toward end consumers squeeze cosan retail spreads.\u003e\n\u003cpcosan must tie pricing to political cycles and petrobras benchmarks avoid interventions fuel-tax revenues of r show government leverage over sector economics.\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eANP oversight limits retail markup\u003c\/li\u003e\n\u003cli\u003e2024 diesel subsidy talks shifted consumer leverage\u003c\/li\u003e\n\u003cli\u003eR$120bn fuel-tax revenue underscores state influence\u003c\/li\u003e\n\u003cli\u003eAlignment with Petrobras pricing reduces intervention risk\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/pcosan\u003e\u003c\/ppolicy\u003e\u003c\/pas\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh fuel churn risk: commoditized prices, Vibra threat, discounts \u0026amp; tax constraints\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCustomers exert high bargaining power: fuel is commoditized, pump-price volatility ±8% (2024) and discount stations +4.5% (2021–23) boost switching; Vibra Energia ~18% market share (2024) threatens churn. Industrial buyers (62% under multi-year gas contracts, 2024) extract 5–12% discounts; top 20 clients ~48% industrial margin. ANP oversight and R$120bn fuel-tax revenue (2024) constrain pricing.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue (year)\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003ePump volatility\u003c\/td\u003e\n\u003ctd\u003e±8% (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eVibra market share\u003c\/td\u003e\n\u003ctd\u003e~18% (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGas contracts\u003c\/td\u003e\n\u003ctd\u003e62% multi-year (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTop20 margin\u003c\/td\u003e\n\u003ctd\u003e~48% (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDiscount share change\u003c\/td\u003e\n\u003ctd\u003e+4.5% (2021–23)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLoyalty uplift\u003c\/td\u003e\n\u003ctd\u003e+12% ticket (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFuel-tax rev\u003c\/td\u003e\n\u003ctd\u003eR$120bn (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003ePreview the Actual Deliverable\u003c\/span\u003e\u003cbr\u003eCosan Porter's Five Forces Analysis\u003c\/h2\u003e\n\u003cp\u003eThis preview shows the exact Cosan Porter’s Five Forces analysis you’ll receive after purchase—no placeholders or samples—fully formatted and ready for immediate download and use.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56746899964281,"sku":"cosan-five-forces-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/cosan-five-forces-analysis.png?v=1772193014","url":"https:\/\/growthsharematrix.com\/products\/cosan-five-forces-analysis","provider":"Growth Share Matrix","version":"1.0","type":"link"}