As my understanding, it not the same as item 1&2 , it is buy&sell flow, The ASICs supplier will not have PE risk if it sells ASICs to Calcomp Thailand for re-export the components to Calcomp Brazil. If it sells ASICs to IHQ for Calcomp Thailand to re-export the components to Calcomp Brazil, The PE risk will trigger to ASICs supplier because of Calcomp Thailand might be agent of ASICs supplier to manage their inventory in theory