{"product_id":"hdp-five-forces-analysis","title":"Huadian Power International 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\u003eGo Beyond the Preview—Access the Full Strategic Report\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eHuadian Power International faces moderate supplier power, high regulatory pressures, and evolving substitute threats as China's energy mix shifts toward renewables, with competitive rivalry intensified by state-backed peers and margin pressure from fuel costs.\u003c\/p\u003e\n\u003cp\u003eThis brief snapshot only scratches the surface. Unlock the full Porter's Five Forces Analysis to explore Huadian Power International’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\u003eCoal Supply Concentration\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eHuadian depends on a few large state-owned coal miners for thermal fuel, giving suppliers strong pricing power; in 2025, top 5 domestic miners supplied about 72% of China’s coking and thermal coal, tightening leverage over contract terms.\u003c\/p\u003e\n\u003cp\u003eLimited supplier count raises cost and supply risk—coal price spikes in 2024–2025 pushed Huadian’s fuel cost per MWh up ~18% year-over-year, so centralized procurement and long-term contracts became essential to contain margins.\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-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRenewable Energy Equipment Manufacturers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe shift to wind and solar raises Huadian Power International’s reliance on specialized turbine and PV module makers; global turbine market saw 93 GW new installations in 2024 and module shipments exceeded 600 GW, pushing demand for high-efficiency tech.\u003c\/p\u003e\n\u003cp\u003eDespite many suppliers, top-tier manufacturers (Vestas, Siemens Gamesa, Goldwind, LONGi) hold concentrated share—top 5 account for ~60% of turbines and top 10 for ~55% of high-efficiency modules—letting them keep firm pricing.\u003c\/p\u003e\n\u003cp\u003eHuadian faces margin pressure: utility-scale module prices fell ~20% 2020–2023 but stabilized in 2024, while premium turbine models still command 5–15% price premiums, limiting procurement leverage.\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\u003eTransportation and Logistics Infrastructure\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTransporting coal from northern mines to Huadian Power International's plants relies heavily on China State Railway networks, which act as regional monopolies and left Huadian with minimal bargaining power over freight tariffs; in 2024 rail freight rates rose ~6.2% year‑on‑year, adding roughly CNY 0.8–1.2\/MWh to generation costs according to National Railway data. Any systemic disruption or further rate hikes directly raise fuel logistics costs and compress margins.\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\u003eGovernmental Influence on Fuel Pricing\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eThe Chinese government keeps a dual-track thermal coal pricing system—market and regulated—to secure supply and social stability, which in 2024 kept benchmark coal price bands roughly between 600 and 1,000 CNY\/tonne, constraining Huadian Power International’s ability to sign fully market-based supply contracts.\u003c\/p\u003e\n\u003cp\u003eRegulatory interventions favor national energy security and grid stability over generator margins, and state directives in 2023–2024 limited spot purchases during winter, compressing Huadian’s gross margins and raising supplier bargaining power.\u003c\/p\u003e\n\u003cp class=\"lst_crct\"\u003e\n\u003c\/p\u003e\n\u003cli\u003eDual-track pricing: market + regulated (600–1,000 CNY\/tonne in 2024)\u003c\/li\u003e\n\u003cli\u003eLimits Huadian’s market bargaining on contracts\u003c\/li\u003e\n\u003cli\u003e2023–24 winter purchase caps reduced generator margins\u003c\/li\u003e\n\u003cli\u003ePolicy favors national stability over individual profitability\u003c\/li\u003e\n\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\u003eCapital and Financing Access\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cplarge-scale power projects need huge capital chinese state-owned banks provided roughly of project debt for energy firms in giving them leverage over interest rates and covenants especially coal assets where lending tightened after carbon policies.\u003e\n\u003cphuadian must keep strong credit metrics net debt target under access cheaper bank loans and bond markets a downgrade would raise funding costs by basis points based on corporate spread moves.\u003e\n\u003cp class=\"lst_crct\"\u003e\n\u003c\/p\u003e\u003cli\u003e~70% project debt from state banks (2024)\u003c\/li\u003e\n\u003cli\u003eCoal project lending tightened since 2022\u003c\/li\u003e\n\u003cli\u003eMaintain net debt\/EBITDA \u0026lt;3.0\u003c\/li\u003e\n\u003cli\u003eDowngrade → +100–200 bps funding cost\u003c\/li\u003e\n\n\u003c\/phuadian\u003e\u003c\/plarge-scale\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\u003eSupplier concentration, rising coal \u0026amp; rail costs squeeze Huadian margins\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eSuppliers hold strong leverage: top 5 miners supplied ~72% of China’s thermal\/coking coal in 2025, pushing Huadian’s fuel cost\/MWh ~18% higher in 2024–25; top turbine\/module makers (top 5 ~60% turbines, top 10 ~55% high-efficiency modules) keep premium pricing; rail freight (+6.2% in 2024) and dual-track coal pricing (600–1,000 CNY\/t in 2024) further limit Huadian’s bargaining power.\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\u003e2024–25 value\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTop-5 miner share\u003c\/td\u003e\n\u003ctd\u003e~72%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFuel cost change\u003c\/td\u003e\n\u003ctd\u003e+~18% YoY\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRail freight change\u003c\/td\u003e\n\u003ctd\u003e+6.2% YoY\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCoal price band\u003c\/td\u003e\n\u003ctd\u003e600–1,000 CNY\/tonne\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTop turbine share\u003c\/td\u003e\n\u003ctd\u003e~60% (top-5)\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\u003eTailored Porter's Five Forces analysis of Huadian Power International uncovering key competitive drivers, supplier and buyer power, entry barriers, substitute threats, and emergent disruptors to assess pricing influence, profitability risks, and strategic positioning within the power generation sector.\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 summary for Huadian Power International—ideal for quick strategic decisions and investor briefs.\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\u003eState Grid Monopoly Dominance\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe vast majority of Huadian Power International’s output—about 85% of its 2024 net generation of 156 TWh—is sold to State Grid Corporation of China and China Southern Power Grid, which act as monopsony buyers and set dispatch schedules and volumes.\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\u003eExpansion of Market-Based Trading\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eBy end-2025, market-based trading will account for about 48% of China’s electricity volume (CNERC estimate), up from ~32% in 2021, letting large industrial buyers negotiate directly with producers and press Huadian Power International for lower tariffs; high-volume contracts now represent 22% of Huadian’s generation sales, so lost margin per MWh is material. Buyers also demand shorter settlement times and higher reliability, raising service-cost pressures on Huadian.\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\u003eGovernment Regulated Tariffs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eGovernment-set tariffs keep residential and agricultural electricity prices fixed by the National Development and Reform Commission, so Huadian Power International cannot pass fuel-cost rises to these customers; in 2024 retail residential rates averaged about 0.546 CNY\/kWh and agricultural rates near 0.458 CNY\/kWh, creating a regulatory ceiling that shifts bargaining power to the public interest and forces Huadian to absorb margin pressure during commodity-price spikes.\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\u003eIndustrial Demand Sensitivity\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eLarge industrial and commercial users make up about 70% of Huadian Power International’s revenue and are highly price-sensitive, with a 2024 survey showing 62% of China heavy industry prioritizing lower energy costs.\u003c\/p\u003e\n\u003cp\u003eThese clients increasingly demand green certificates and renewable energy shares—corporate RE100 targets rose 18% in China between 2022–2024—pushing Huadian to offer renewable power contracts and green certificates to retain top-margin customers.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e~70% revenue from industrial\/commercial users\u003c\/li\u003e\n\u003cli\u003e62% of heavy industry prioritize cost (2024 survey)\u003c\/li\u003e\n\u003cli\u003eRE100-related demand +18% (2022–2024)\u003c\/li\u003e\n\u003cli\u003eNeed: renewable contracts, green certificates\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\u003eEnergy Efficiency and Demand Side Management\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eAdvancements in smart-grid tech and energy-efficiency cuts peak demand, lowering reliance on Huadian Power International’s baseload coal plants; China’s national demand response capacity reached 8.5 GW in 2024, reducing volatility and fuel burn.\u003c\/p\u003e\n\u003cp\u003eReal-time pricing and behind-the-meter storage give customers timing power over consumption, shifting load from Huadian and pressuring margins as flexible, low-cost supply grows.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e8.5 GW China demand response 2024\u003c\/li\u003e\n\u003cli\u003ePeak shaving lowers baseload utilization\u003c\/li\u003e\n\u003cli\u003eReal-time pricing boosts customer bargaining\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\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\u003eBuyers Hold the Power: State Grids \u0026amp; Industry Drive Pricing as Market Trading Rises\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCustomers hold strong leverage: ~85% volume sold to State Grid monopsonies limits pricing power, while ~70% revenue from industrial\/commercial buyers (2024) who are price-sensitive (62% prioritize cost). Market trading rising to ~48% of volume by end-2025 and demand-response capacity 8.5 GW (2024) boost buyer negotiation and require renewable contracts and green certificates (RE100 demand +18% 2022–2024).\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\u003eShare to State Grids\u003c\/td\u003e\n\u003ctd\u003e~85% (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIndustrial revenue\u003c\/td\u003e\n\u003ctd\u003e~70% (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMarket trading\u003c\/td\u003e\n\u003ctd\u003e~48% (2025 est)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDemand response\u003c\/td\u003e\n\u003ctd\u003e8.5 GW (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRE100 demand\u003c\/td\u003e\n\u003ctd\u003e+18% (2022–2024)\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;\"\u003eWhat You See Is What You Get\u003c\/span\u003e\u003cbr\u003eHuadian Power International Porter's Five Forces Analysis\u003c\/h2\u003e\n\u003cp\u003eThis preview shows the exact Porter’s Five Forces analysis of Huadian Power International you'll receive immediately after purchase—no surprises, no placeholders. The document displayed here is the same professionally written, fully formatted file ready for download and use the moment you buy. You’re looking at the actual deliverable; once payment is complete, you’ll get instant access to this identical file. No mockups, no samples—the preview equals the final product.\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":56747031986553,"sku":"hdp-five-forces-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/hdp-five-forces-analysis.png?v=1772194435","url":"https:\/\/growthsharematrix.com\/products\/hdp-five-forces-analysis","provider":"Growth Share Matrix","version":"1.0","type":"link"}