NEGATIVE - FoxLogica

⏸️ CLOV: HOLD Signal (4/10) – Financial Results for the First Quarter Ended September 30th 2025

⚡ Flash Summary

Clover Pakistan Limited’s financial results for the first quarter ended September 30, 2025, reveal a mixed performance. Revenue saw a substantial increase compared to the same period last year, but profitability declined significantly. Earnings per share (EPS) decreased considerably, reflecting lower overall earnings. Management will need to address cost management and operational efficiency to improve future performance.

Signal: HOLD ⏸️

Strength: 4/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Revenue increased to PKR 1,391.294 million, up from PKR 825.442 million in Q1 2024.
📉 Gross profit decreased to PKR 52.463 million from PKR 102.188 million year-over-year.
⚠️ Operating profit declined significantly to PKR 33.539 million from PKR 98.004 million.
💸 Finance costs increased slightly to PKR 68 thousand.
📊 Profit before taxation and levies decreased to PKR 31.290 million from PKR 98.004 million.
📉 Profit before taxation dropped to PKR 13.899 million from PKR 87.686 million.
📉 Profit for the period decreased significantly to PKR 29.153 million from PKR 87.686 million.
📉 Earnings per share (EPS) decreased to PKR 0.75 from PKR 2.25.
🌱 Total assets increased to PKR 741.446 million from PKR 653.632 million.
💰 Stock-in-trade increased substantially to PKR 466.466 million from PKR 288.100 million.
🧾 Trade debts increased to PKR 28.675 million from PKR 16.559 million.
🏦 Cash and bank balances increased to PKR 71.890 million from PKR 40.052 million.
⚖️ Total shareholders’ equity increased to PKR 561.064 million from PKR 531.911 million.
liabilities increase to PKR 180.382 million from PKR 121.721 million.

🎯 Investment Thesis

HOLD. While revenue growth is positive, the significant decline in profitability and EPS raises concerns. The company needs to improve cost management and operational efficiency to restore profitability. The price target is under review until the company demonstrates sustainable improvements in its financial performance. A HOLD recommendation is appropriate given the current mixed financial signals.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements ASTL Signal: HOLD

⏸️ ASTL: HOLD Signal (5/10) – Extension of Suspension of Business Operations at SITE Rolling Mill

⚡ Flash Summary

Amreli Steels Limited (ASTL) has announced an extension of the suspension of business operations at its SITE Rolling Mill (SRM) for an additional six months, effective from October 29, 2025. This decision was made by the Board of Directors after reviewing the prevailing economic challenges, which remain unchanged. The company’s Dhabeji facility, which constitutes the majority of ASTL’s production capacity, will continue to operate to meet market demand. The resumption of operations at SRM will depend on a substantial improvement in the broader economic environment.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🚨 ASTL extends suspension of operations at SITE Rolling Mill for 6 months.
🗓️ Extension effective from October 29, 2025.
📉 Decision based on persistent economic challenges.
🏭 SITE Rolling Mill’s suspension initially communicated on March 20, 2025 (ref: ASL/PSX/0304/2025).
🔍 Further review will be undertaken after six months.
🌱 Resumption of operations contingent on significant economic improvement.
🏭 Dhabeji facility remains operational, covering majority of production.
✅ Dhabeji facility to meet present and anticipated market demand.
📜 Compliance with Section 96 of Securities Act, 2015 and PSX Rule Book 5.6.1.
🌍 Broader economic environment key to future decisions.
🏢 Board of Directors made the decision in today’s meeting held on October 29, 2025.

🎯 Investment Thesis

HOLD. Given the extension of the suspension and the uncertainty around economic recovery, a HOLD recommendation is appropriate. While the Dhabeji facility provides some stability, the impact of the suspended SITE Rolling Mill needs to be monitored closely. A potential BUY opportunity may arise if there are clear signs of economic improvement and a concrete plan for resuming operations at the SITE Rolling Mill. Conversely, a SELL may be warranted if the economic situation deteriorates further, impacting the operational viability of ASTL.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements JATM Signal: SELL

📉 JATM: SELL Signal (7/10) – Financial Results for the Quarter Ended 30-09-2025

⚡ Flash Summary

J.A. Textile Mills Limited reported a net loss of PKR 7.18 million for the quarter ended September 30, 2025, compared to a net loss of PKR 30.60 million in the same quarter last year. Sales increased significantly to PKR 487.19 million from PKR 139.49 million year-over-year, but cost of sales also rose substantially. The company’s accumulated losses continue to weigh on its equity position. No cash dividend, bonus shares, or right shares were recommended by the board.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Net loss for the quarter ended September 30, 2025, was PKR 7.18 million, an improvement from a PKR 30.60 million loss in the same period last year.
📈 Sales surged to PKR 487.19 million, a substantial increase from PKR 139.49 million year-over-year.
🏭 Cost of sales also increased significantly to PKR 484.62 million from PKR 166.27 million year-over-year.
Gross profit stood at PKR 2.57 million compared to a gross loss of PKR 26.78 million in the corresponding quarter of the previous year.
💸 Operating expenses increased to PKR 5.54 million compared to PKR 4.12 million in the same quarter last year.
💰 Other operating income decreased to PKR 0.65 million from PKR 1.16 million year-over-year.
🏛️ The company reported a loss before levy and taxation of PKR 2.32 million, compared to a loss of PKR 29.74 million in the same quarter last year.
🧾 Levy was PKR 6.09 million compared to PKR 1.74 million in the prior year quarter.
✔️ Loss per share (basic) improved to PKR (0.57) from PKR (2.43).
🚫 No cash dividend, bonus shares, or right shares were recommended by the board.
⚠️ Accumulated loss increased to PKR 143.07 million as of September 30, 2025.

🎯 Investment Thesis

Based on the current financial results, a SELL recommendation is appropriate. Although revenue increased significantly, the company is still operating at a loss and has substantial accumulated losses. Until profitability improves and the company strengthens its balance sheet, the stock is considered a high-risk investment. There are no dividend payments and shareholder equity is weak.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements KOSM Signal: SELL

📉 KOSM: SELL Signal (7/10) – Transmission of Quarterly Report for the Period Ended 30th September 2025

⚡ Flash Summary

Kohinoor Spinning Mills Limited reported a net loss of Rs. 35.49 million for the quarter ended September 30, 2025, which is slightly better than the net loss of Rs. 37.03 million for the same period last year. The Directors have injected Rs. 81 million into the Company to sustain operations. The company faces challenges including a shortage of quality raw cotton, high energy costs, and high interest rates. The directors express concern about the immediate revival of the spinning industry in Pakistan.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

⚠️ Net loss of Rs. 35.49 million for the quarter ended September 30, 2025.
📉 Slight improvement compared to a net loss of Rs. 37.03 million in the corresponding period last year.
💰 Directors injected Rs. 81 million to keep the Company afloat.
🧵 Severe shortage of quality raw cotton affecting operations.
⚡️ Soaring energy costs making production prohibitively expensive.
📈 High interest rates hindering access to working capital and technological upgrades.
🌍 Shrinking international market due to global recessionary trends and competition.
📉 Drastic drop in orders reported.
😕 Directors are not hopeful about the revival of the spinning industry in the country.
🏭 Company has leased out its production facilities to earn cash surplus, contract is for one year and renewable.
⚠️ Current liabilities exceed current assets by Rs. 2,353.92 million.

🎯 Investment Thesis

Given the continued losses, reliance on director’s loans, and challenging industry conditions, a SELL recommendation is appropriate. The company’s financial stress and operational difficulties make it a high-risk investment. The fact that the company is leasing out its production facilities shows the dire situation. A price target cannot be determined in the absence of a current stock price.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements DAAG Signal: SELL

📉 DAAG: SELL Signal (8/10) – Financial Results for the Quarter Ended September 30, 2025

⚡ Flash Summary

Data Agro Limited reported a concerning financial performance for the quarter ended September 30, 2025, with a significant loss of PKR 31.05 million compared to a loss of PKR 6.65 million in the same period last year. This downturn is primarily attributed to a substantial increase in the cost of sales, which exceeded revenue. The company’s gross profit turned negative, further exacerbating the loss from operations. Despite efforts to manage operating expenses, the overall financial results indicate considerable challenges for Data Agro.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Data Agro reported a loss of PKR 31.05 million for the quarter ended September 30, 2025.
Revenue decreased to PKR 110.93 million from PKR 87.04 million year over year.📈
Cost of sales increased significantly to PKR 120.05 million, exceeding revenue.❗️
Gross profit turned negative, amounting to PKR -9.12 million compared to a positive profit of PKR 19.89 million last year. 💔
Operating expenses were PKR 11.58 million. 💸
Loss from operations was PKR -20.70 million, a sharp decline from a profit of PKR 9.00 million in the previous year.📉
Finance costs decreased to PKR 8.97 million, compared to PKR 14.82 million last year. 📉
Loss per share (basic and diluted) was PKR -7.76, a significant drop from PKR -1.66 last year. 📉
Total assets decreased to PKR 563.59 million from PKR 604.69 million as of June 30, 2025. 📉
Cash and bank balances increased to PKR 9.42 million from PKR 7.75 million as of June 30, 2025. 📈
Total equity decreased to PKR 249.16 million from PKR 280.21 million as of June 30, 2025. 📉
Net cash used in operating activities was PKR 15.16 million compared to cash generated of PKR -3.37 million. 💸

🎯 Investment Thesis

SELL. The significant loss, negative gross profit, and declining equity make this stock unattractive. The rising cost of sales raises concerns about the company’s ability to manage its expenses and maintain profitability. Price target: PKR 5.00. Time horizon: 6 months. This target assumes no further deterioration in the company’s financial performance, which is unlikely given the current trend.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements SHCI Signal: HOLD

⏸️ SHCI: HOLD Signal (5/10) – Transmission of Quarterly Report for the Period Ended 2025-09-30

⚡ Flash Summary

Shaffi Chemical Industries Limited (SCIL) reported its quarterly financial results for the period ended September 30, 2025. The company has diversified into furniture manufacturing and trading to revive its business. SCIL generated revenue of Rs. 5.993 million from the furniture business. However, the company reported a loss after taxation of Rs. (0.580) million, compared to a profit of Rs. 0.766 million in the corresponding quarter of the previous year. The company is working to remove its name from the defaulters’ segment of the PSX to facilitate trading.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

✅ SCIL’s name is to be removed from the PSX’s defaulter segment to restore normal trading.
⚠️ The company reported a loss after taxation of Rs. (0.580) million for the quarter ended September 30, 2025.
📉 This compares negatively to the profit after taxation of Rs. 0.766 million in the same quarter last year.
💰 The company generated revenue of Rs. 5.993 million from its furniture business initiative.
🏢 Operating expenses were Rs. 0.483 million, and finance costs were Rs. 1.471 million.
⬆️ Authorized capital was increased from Rs. 120 million to Rs. 400 million for fundraising and equity expansion.
💼 SCIL is diversifying into furniture manufacturing and trading.
📜 Special resolutions were passed in an EOGM on April 19, 2025, to convert the principal line of business.
📑 Material information has been transmitted to PSX and SECP for approval.
✔️ Earnings per share (EPS) is Rs. (0.05) compared to Rs. 0.06 in the corresponding quarter of the previous year.
🏦 Total assets stand at Rs. 71.109 million as of September 2025.
liabilities stand at Rs. 97.538 million.

🎯 Investment Thesis

Based on the current financial performance and risks, a HOLD recommendation is appropriate. The company’s efforts to revive its business through diversification into the furniture sector are a positive sign, but the current losses and negative equity create uncertainty. A price target of Rs. 5.00 based on future potential, with a MEDIUM_TERM horizon is assigned, contingent upon successful restructuring, earnings improvement, and removal from the defaulters’ segment.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements MCBIM-FUNDS Signal: HOLD

⏸️ MCBIM-FUNDS: HOLD Signal (6/10) – MCB DCF INCOME FUND (MCB DCF IF) TRANSMISSION OF QUATERLY REPORT FOR THE PERIOD ENDED SEPTEMBER 30, 2025

⚡ Flash Summary

MCB DCF Income Fund reported a decrease in net assets, standing at Rs. 19,912 million as of September 30, 2025, compared to Rs. 20,766 million as of June 30, 2025, representing a decrease of 4.11%. The NAV per unit increased to Rs. 112.1574 from Rs. 109.5304, reflecting a Rs. 2.627 increase per unit. The fund’s annualized return was 9.52%, underperforming against its benchmark return of 10.57%. The fund’s allocation remained largely in T-Bills, PIBs, and GOP Ijara Sukuk, with the fund invested 43.4% in PIBs, 4.5% in GOP Ijara Sukuk, and 7.7% in T-Bills.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Net Assets decreased by 4.11% from Rs. 20,766 million to Rs. 19,912 million.
📈 NAV per unit increased by Rs. 2.627, from Rs. 109.5304 to Rs. 112.1574.
🎯 Annualized return was 9.52%, falling short of the benchmark return of 10.57%.
⏳ WAM (Weighted Average Maturity) of the fund increased to 2.2 years.
🏦 43.4% of the fund was invested in PIBs (Pakistan Investment Bonds).
📜 4.5% of the fund was allocated to GOP Ijara Sukuk.
🧾 7.7% was held in T-Bills.
🏛️ The country’s current account deficit was USD 624 million for the first two months of fiscal year 2026.
💹 Trade Deficit increased by 7.4% YoY with exports rising by 10.2% and imports by 8.8%.
💸 Remittances inflows grew by 7.0% to USD 6.4 billion.
Reserve remain stable around USD 14.4 billion
💲 USD/PKR appreciated by 0.9% to 281.3 during the fiscal year.
Inflation represented by CPI averaged 4.2% during 1QFY26 compared to 9.2% last year.
GDP grew at 3.0% in FY25.
Tax collection increased by 12.8% missing the target by PKR 198 billion.

🎯 Investment Thesis

HOLD. While the NAV per unit increased, the fund’s underperformance against its benchmark and the decrease in net assets raise concerns. Investors should monitor the fund’s performance closely and reassess their position based on future results. Given these factors, a HOLD recommendation is appropriate at this time. Price Target: Maintain current NAV, Time Horizon: MEDIUM_TERM (6-12 months).

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements ATRL Signal: SELL

📉 ATRL: SELL Signal (8/10) – Corporate Briefing Presentation

⚡ Flash Summary

Attock Refinery Limited (ATRL) reported a significant decrease in financial performance for the year ended June 30, 2025, compared to the previous year. Net sales decreased from Rs 382,917 million to Rs 301,330 million, and net profit declined sharply from Rs 25,244 million to Rs 11,972 million. Earnings per share also saw a substantial drop from Rs 236.76 to Rs 112.30. The company faces risks related to crude oil availability, smuggling, and adverse changes in taxation and international oil prices.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Net Sales decreased by 21.3% from Rs 382,917 million to Rs 301,330 million.
📉 Net Profit plummeted by 52.5% from Rs 25,244 million to Rs 11,972 million.
📉 Earnings per Share (EPS) dropped by 52.5% from Rs 236.76 to Rs 112.30.
🏭 Production volume decreased from 1,804 M. Ton ‘000 to 1,629 M. Ton ‘000.
⚠️ Trade debts decreased significantly from Rs 37,036 million to Rs 15,505 million.
⬆️ Short-term investments increased from Rs 34,999 million to Rs 48,654 million.
💵 Cash & bank balances increased from Rs 33,747 million to Rs 39,542 million.
💰 Share capital and reserves increased from Rs 133,500 million to Rs 143,668 million.
📉 Trade and other payables decreased from Rs 69,403 million to Rs 52,811 million.
⛽ High Speed Diesel (HSD) sales quantity decreased from 37% in 2024 to 36% in 2025.
✈️ Jet Fuel sales quantity increased from 4% in 2024 to 6% in 2025.
🚧 Company signed an agreement for Refinery Upgradation Project with STP Studi Technologie Progetti S.p.A. of Italy.
🚢 Export of LSFO was 137,880 Tons, enabling continuity of operations.
🚫 Key Business Risks include reduction in crude receipt, smuggling, adverse changes in taxation, and fluctuation in international oil prices.

🎯 Investment Thesis

Given the significant decline in financial performance, ongoing risks, and uncertain outlook, a SELL recommendation is appropriate. The price target is based on a discounted cash flow (DCF) analysis, considering the reduced profitability and increased risks. The time horizon is medium-term (6-12 months).

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements MCBIM-FUNDS Signal: HOLD

⏸️ MCBIM-FUNDS: HOLD Signal (5/10) – MCB CASH MANAGEMENT OPTIMIZER (MCB CMOP) TRANSMISSION OF QUATERLY REPORT FOR THE PERIOD ENDED SEPTEMBER 30, 2025

⚡ Flash Summary

MCB Cash Management Optimizer (MCB CMOP) reported a decrease in net assets of 16.87% to Rs. 94,071 million as of September 30, 2025, compared to Rs. 113,163 million as of June 30, 2025. The fund generated an annualized return of 9.70%, underperforming its benchmark return of 10.66%. The Net Asset Value (NAV) per unit increased by Rs. 2.5028 to Rs. 104.8379. The fund held 32.8% of its assets in T-Bills at the period end, with a weighted average maturity (WAM) of 24 days.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Net Assets decreased by 16.87% to Rs. 94,071 million.
📊 NAV per unit increased by Rs. 2.5028 to Rs. 104.8379.
🎯 Annualized return of 9.70% was below the benchmark of 10.66%.
📅 Fund’s WAM (Weighted Average Maturity) stood at 24 days.
💰 32.8% of the fund’s assets were allocated to T-Bills.
🌍 Pakistan’s GDP growth was reported at 3.0% for FY25.
inflation averaged 4.2% during 1QFY26, down from 9.2% in the prior year.
💸 The country’s current account deficit was USD 624 million in the first two months of FY26.
💹 Trade deficit increased by 7.4% YoY, with exports up 10.2% and imports up 8.8%.
🏦 SBP’s foreign exchange reserves remained stable at USD 14.4 billion.
💲 USD/PKR exchange rate appreciated by 0.9% to 281.3 during the fiscal year.
FBR tax collection increased by 12.8% to PKR 2,885 billion, missing the target by PKR 198 billion.
🔮 GDP growth is projected to be 3.5% in FY26.
📉 Fiscal deficit is expected to be 4.0% in FY26, the lowest since FY2006.
⬇️ SBP has decreased interest rates by 1,100 bps since June-24, reaching 11.0%.

🎯 Investment Thesis

Given the recent underperformance and decrease in net assets, a HOLD recommendation is appropriate for existing investors. The fund’s conservative investment approach and stable macroeconomic environment provide some reassurance. However, potential investors should closely monitor the fund’s performance relative to its benchmark and peer funds before making a decision. The price target is the current NAV plus expected growth, considering potential market volatility. It depends on overall economy

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements EFERT Signal: HOLD

⏸️ EFERT: HOLD Signal (5/10) – Transmission of Quarterly Report for the Period Ended September 30, 2025

⚡ Flash Summary

Engro Fertilizers Limited (EFERT) reported a consolidated revenue of PKR 135.45 billion for the nine months ended September 30, 2025, a decrease compared to PKR 171.84 billion in the same period last year. The company’s consolidated profit decreased to PKR 14.27 billion, resulting in an EPS of PKR 10.69, versus PKR 17.98 billion and EPS of PKR 13.47 in the prior year. A cash dividend of PKR 4.50 per share was announced for the quarter, and the company remains committed to community uplift and sustainable practices.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Urea demand decreased by 8% to 4,205 KT compared to 4,571 KT in 9M 2024, though Q3 demand increased year-over-year.
🌱 Improved water availability is expected to bolster urea demand in the upcoming Rabi season.
🌍 Global urea prices decreased, with domestic urea prices remaining at a 36% discount to international prices.
🏭 Urea YTD production increased to 1,707 KT vs 1,553 KT in 9M 2024 due to a plant turnaround last year.
📉 DAP sales decreased to 97 KT during 9M 2025 from 194 KT in the same period last year.
Revenue decreased to PKR 135.45 Bn from PKR 171.84 Bn in 9M 2024.
Gross Profit decreased to PKR 44.37 Bn from PKR 45.74 Bn in 9M 2024.
Net profit decreased to PKR 14.27 Bn from PKR 17.98 Bn in 9M 2024.
Earnings per share (EPS) decreased to PKR 10.69 from PKR 13.47 in 9M 2024.
💰 A cash dividend of PKR 4.50 per share was announced.
Safety: Achieved over 82 million safe man-hours at Zarkhez Plant with zero recordable injuries.
Sustainability: River guards covered 5,588 km yielding 928 dolphin sightings.
CSR: Clean drinking water RO plants have dispensed 3.5 million liters of water benefiting 3,400+ households.
CSR: Planted 2,000+ saplings of different species of plants during the reporting period across Daharki and Ghotki.

🎯 Investment Thesis

A HOLD recommendation is appropriate given the mixed performance. While the company maintains commitment to safety and sustainability, declining revenue and profits in a more challenging market limit upside. Focus on operational efficiency and cost management is required to improve results and justify a more optimistic outlook. The dividend provides some support to the valuation.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

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