But I think from today, maybe more. CEOs will visit you in the future. Yeah, very beautiful country. Mmm, maybe...

You Know, in 2002, I was a software engineer, and one of my classmates JK Shao is a hardware engineer. We had a goal to make every engineer worldwide have professional test equipment, so we began to develop an oscilloscope.. A Bench one. At That time, we didn't know it's very difficult to design a bench oscilloscope.

so in our original plan, we prepared to use half a year to complete the whole prototype. But At last we used two and a half years. Very difficult. And Launched that model number at the end of 2005.

The Bandwidth was 200 MHz, and the sampling rate was 1 GSa/s. I Think it easier now, but at that time it was very hard. We did a lot of research work. At That time, I think the competitors were Tektronix and Rigol.

In 2006, our chip quantity only 5% of one of our competitors. But At the end of 2011, only 5 years later, our quantity is beyond that competitor's. Very Very crazy growth, very rapid. Right now, around 300 already.

Around 1/3 are R&D engineers. I think hardware is around 40-50 and software is around 60. At The beginning, I Planned to use half a year, but at last I used more than two and half years. I think because all the software was designed by myself at the beginning for the first model number, but now I'm a business man and I don't code anymore.

And I think the total code is more than 200,000 lines. We have some different systems. Some use Linux, some use Windows CE, and some maybe use other operating systems. At The beginning, in 2005, I think was impossible to use Windows CE or Linux platform, so at that time we used our own operating system -- it's a small operating system.

I don't remember the name. But After some years growth, we found this system isn't enough, so we changed from that system to Linux. Yeah, most of our new equipment is running on Linux, but we still have some running on Windows CE or others. I Don't think so.

Both Hardware and software is difficult, I think. If You want to develop a good scope or a good arbitrary waveform generator, you need good hardware designer and a good software designer. I think the first one , the second one, maybe the sampling system, the ADC, FPGA and so on,. and including the firmware, all of them are very important.

I think maybe FPGA, analog, and others together, display, metal box,, plastic box. I Think most cost comes from the silicon chips. Yeah, it'll be a very fantastic one, I believe. This One uses the second generation of our SPO technology.

And From the first generation of SPO Maybe 4-5 years ago,, from 2 years ago, we began to design the Version 2 architecture of SPO. And So for this series, it took around two years. We Design not only low-cost. In Fact: we have some not-low-cost equipment now that we're selling inside.

China. And I Think our purpose, the first target, of Siglent to provide every engineer with a professional test environment.. So If we need to provide every engineer with equipment,, you have the low-cost and the best cost/performance. So It's very important for Siglent, so we focus on this.

I Believe Siglent will always focus on test environment equipment.. And There are still some other products that we need to develop. We have two directions: One is to develop a more high-end and broad scope family. The other is to make our whole family of test equipment broader.

It is difficult to reply. Margins are very small at the low-end, but the quantities are very large. And For some high-end products, the margins are high enough, but the quantities are small. So, I Think we need both of them.

But For Siglent products, one of our strategies is to supply the best cost/performance equipment.. So Our margin Very small, so our prices are acceptable for most of our customers. Since The beginning in the 2002 until maybe 2008, we didn't have our own brand. All Our business came from OEM business.

Yes, before 2008. And From 2008, we began to sell Siglent brand. And During that time, we found Siglent Sales was very fast. Crazy fast; doubling/tripling/quadrupling year over year.

This year's sales was double last year's sales. I Think there are some reasons. I am an R&D engineer. All Three founders are designers.

So We focus on R&D very much. And Every year, we invest 15% of sales in R&D. Especially From 4 years ago to last year, I have seen the data, maybe around 20%. Most of our income is focussed on R&D, so we can provide new products & technologies very quickly.

Especially This year, we are prepared to launch 5 new products. Including This SDS2000X, we've launched 4 already this year. But We'll launch another one -- a very good spectrum analyzer, a total of 5 new products. We Spent more than 4 years developing the first spectrum analyzer.

We Invested huge money on that one. Our Engineers from two sources. At The beginning, we hired some high-end engineers, and built our core team. Maybe Around 15-20 core guys.

And Every year, we hire some good students from some famous universities in China, and training them -- giving the time and space to grow. So Up to now, I Think we have enough R&D resource already. No, all our engineers come from China. We have one sales team in the United States, and one in Hamburg, Germany.

But All of our R&D is in China. In 2006, we were only 5% of one of our main competitors -- but at the end of 2011, we are beyond them already. I think right now, if we calculate the quantity of oscilloscopes, I believe we're maybe around number 2? Sorry, I can't say their name. Yeah, very close.

We Built our sub-company in the U.S. in Ohio last year. Since That time, July last year, the U.S. market has become the biggest one.

And I believe the second one is either China or Europe. I think around 4 or 5 years. The Whole R&D process is like this: When We launch new products, even newer products are already in development. We are developing some new products now.

We have around 100 engineers, so many products are developed at the same time. are very reluctant to release their firmware. ]. I Think service is very important, and firmware updates are very important too..

So, after some, we released our new firmware to fix some bugs and from the current update version, we gave more details of our firmware versions , such as what kind of bugs we have fixed in this version and what kind of features have added in this version, and this sort of documentation when we release new firmware.. We Focus on our customers very deeply, and if you buy Siglent product, don't worry about service, don't worry about software bugs. We Have launched SDS2000x in this Monday. But Last week we released updated firmware for our old SDS2000, so all our customers who had bought our old SDS2000 already can get the same updated firmware version at the same time.

We Focus on our customers very much. Yeah, we can fix bugs in maybe half a day, but we have a process -- we have to test it, and do some other process. I Think in one or two weeks we'll update the firmware, and post it on our website. I'm not concerned about this.

If We gave some options to the customers, maybe they can buy our option to update. Right Now we offer options to provide MSO, AWG, serial decode -- these kinds of features. Maybe In the future we'll give the option to update the bandwidth. I Don't worry about this.

Yeah, it is good for the customers. Buy Offering options. customers can buy our products first -- maybe the lowest-end one, and in the future they can buy options to update it. We'll use this strategy in some of our future products.

Sorry, what does "tricky" mean? Yeah, So I'm so sorry, this kind of thing makes many hobbyists a little angry. Maybe I Can clearly explain about this. There Are some authorized distributors, who sell to other countries, very far away from their location, and haven't supplied any service. It's a big problem for us if there are too many of this kind of distributor.

So Since 2 years ago, we began a process to arrange for a guy at Siglent to monitor these sorts of distributors on eBay, these kind of sites. And If we found this kind of distributors, we persuade them -- "you need to sell in your own area only, or you need to be authorized by us." We Did this process for 2 years. But From maybe this: September/August We have a new student who's just come from university a young girl to do this. She got number one in the test for all the students.

Every year we hire many students from universities, like I told you just now. And Maybe she's lacking life experience, and can't distinguish authorized distributors vs. who is selling used equipment. So She did the wrong thing, yeah.

We Have done this for around two years, and no incidents have happened. One Of the most important thing for Siglent brand is our service. For Example,, we supply the new firmware for our old SDS2000. I Think having service that makes the customer happy is very important for us.

For Example,, in the US we offer a 30 days no-questions-asked money back guarantee, but if the customers buy from these sorts of distributors, we can't do it. We Have our subcompanies in the United, States and Hamburg, Germany, but in South Asia, in Australia, in other places, maybe South America, We haven't got our own company; we only have distributors. Buy the products from the local distributors,. Maybe the customers will have service problems.

So We worry about this very much, so we do this process. But I Think, from now on, we'll do it very carefully. But In here, maybe it is the most famous hobbyist electronics forum here: I suggest that the customers please buy Siglent products from your local authorized distributor, Because Siglent has gotten bigger and bigger,. we have more and more better software engineers than me,.

So there's some young guy who's much better than me! No, no, no because with Siglent in the old times, maybe 10 years ago,, I could do everything: the code, sales, ... 10 years ago, I was the only salesperson, but now I can't do it. We have more than 100 engineers, and more than 50 salespeople already. So, I can't do anything anymore.

We have a VP, he is our CTO, a partner of Siglent: Mr. Zane Zhao. Zane Zhao helps us manage the whole R&D team. And our other VP, he is my classmate -- both of us founded this company.

JK Shao Focused on the supply chain, and we have another guy focussed on the domestic market. I, myself, am a little more focussed on the overseas market. Well, I hope so. But I Believe taking everything day by day.

Let Everything proceed naturally, don't push it too much. Thank you.