{"product_id":"moderndairyir-business-model-canvas","title":"China Modern Dairy Holdings Business Model Canvas","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\u003eChina Modern Dairy Business Model Canvas — Editable Word \u0026amp; Excel Blueprint\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eUnlock the full strategic blueprint behind China Modern Dairy Holdings’s business model—our Business Model Canvas maps customer segments, core activities, and revenue streams to reveal how the company scales and sustains margins in China’s dairy market.\u003c\/p\u003e\n\u003cp\u003ePerfect for investors, consultants, and founders, this downloadable canvas delivers practical, editable insights in Word and Excel to support benchmarking, valuation, or strategic planning.\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\"\u003eP\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eartnerships\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\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStrategic Alliance with China Mengniu Dairy\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eAs majority shareholder, China Mengniu Dairy secures off-take for ~70% of Modern Dairy’s raw milk, guaranteeing steady revenue (≈RMB 6.2bn farmgate sales in 2024) and lowering price volatility risk.\u003c\/p\u003e\n\u003cp\u003eBy end-2025 the tie-up added joint ventures for premium dairy lines and a logistics program cutting cold-chain costs by ~12% and expanding Mengniu’s national reach across 30+ provinces.\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\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFeed and Forage Suppliers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eChina Modern Dairy relies on large-scale suppliers for alfalfa, corn silage and soybean meal to keep herd nutrition and protein levels high; in 2024 feed accounted for ~42% of CNY 5.8B production costs, so partnerships with domestic and international agri-firms (e.g., imported alfalfa from Australia\/US) stabilize supply against 2023–24 commodity swings and help control unit costs and raw milk protein content.\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\/CANVAS-Content-Partnerships-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\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGenetic and Breeding Research Institutions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCollaborations with China Agricultural University and global genetics firm Alta Genetics boost herd health and lift milk yield ~5–8% per cow; R\u0026amp;D spending tied to these partnerships rose to RMB 120m in 2024. By 2025 efforts target heat-resistant breeds and milk-quality traits to limit climate loss—projected to cut heat-stress yield declines from 12% to under 4%.\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\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCold Chain Logistics Providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCold-chain logistics partners provide temperature-controlled transport that moves milk from farm to plant within hours, preserving nutrients and reducing bacterial growth; China Modern Dairy reported a 30% drop in spoilage-related losses after scaling dedicated refrigerated routes in 2024.\u003c\/p\u003e\n\u003cp\u003eBy late 2025, IoT tracking integration cut in-transit temperature excursions by 65% and improved traceability, supporting lower waste and faster recalls while trimming logistics-related cost volatility.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRefrigerated transit: hours from farm to plant\u003c\/li\u003e\n\u003cli\u003eSpoilage reduction: 30% (2024)\u003c\/li\u003e\n\u003cli\u003eIoT temp-excursion cut: 65% (by late 2025)\u003c\/li\u003e\n\u003cli\u003eOutcome: better nutrient integrity, faster recalls\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\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFinancial Institutions and Green Creditors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cpfinancial institutions and esg creditors finance china modern dairy large-scale farm expansion environmental capex supplying liquidity for biological asset growth enabling methane capture waste-to-energy projects tied to its carbon-neutrality push.\u003e\u003cpthe company raised in green loans and bonds with esg financing covering of capex funding remains critical for heavy upfront costs digesters methane-capture systems.\u003e\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRMB 1.2bn green loans\/bonds (2024)\u003c\/li\u003e\n\u003cli\u003e18% of 2024 capex via ESG financing\u003c\/li\u003e\n\u003cli\u003eFunding for methane capture, digesters, waste-to-energy\u003c\/li\u003e\n\u003cli\u003eSupports scale-up of biological assets and farms\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/pthe\u003e\u003c\/pfinancial\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\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMengniu deal and JVs boost RMB6.2bn farmgate sales; green loans and R\u0026amp;D cut costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eMengniu off-take (~70%) secures ≈RMB 6.2bn farmgate sales (2024); joint JVs and logistics cut cold-chain costs ~12% and extend reach to 30+ provinces. Feed partners (domestic + imports) stabilized costs—feed = ~42% of CNY 5.8bn production costs (2024). R\u0026amp;D\/genetics raised milk yield 5–8% (RMB 120m spend, 2024); green loans RMB 1.2bn (18% of 2024 capex) fund methane\/digesters.\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\/2025\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eMengniu off-take\u003c\/td\u003e\n\u003ctd\u003e~70%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFarmgate sales\u003c\/td\u003e\n\u003ctd\u003eRMB 6.2bn (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFeed cost\u003c\/td\u003e\n\u003ctd\u003e42% of CNY 5.8bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eR\u0026amp;D spend\u003c\/td\u003e\n\u003ctd\u003eRMB 120m (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGreen finance\u003c\/td\u003e\n\u003ctd\u003eRMB 1.2bn (2024)\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\u003eA comprehensive Business Model Canvas for China Modern Dairy detailing customer segments, channels, value propositions, key activities, partners, resources, cost structure, and revenue streams tied to its vertically integrated dairy operations and growth strategy, organized to support investor presentations and strategic decision-making.\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\u003eCondenses China Modern Dairy Holdings’ strategy into a digestible one-page snapshot, highlighting core value streams, distribution channels, and cost drivers to expedite strategic reviews 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\"\u003eA\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ectivities\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\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLarge-Scale Dairy Farming and Herd Management\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe core activity runs daily care for ~400,000 dairy cows across 20+ standardized farms, combining precision feeding, automated milking systems (reducing labor by ~30%), and continuous veterinary protocols to hit yields near 10,500 kg milk\/cow\/year. By 2025 operations are digitized: wearable sensors track health and estrus in real time, cutting mastitis incidence ~18% and improving uptime for milking parlors, supporting gross margin stability.\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\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRaw Milk Production and Quality Control\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eChina Modern Dairy targets raw milk averaging \u0026gt;3.4% protein and total bacterial counts \u0026lt;50,000 CFU\/mL, exceeding Codex and Chinese GB standards; in 2024 its farms produced 2.1 million tonnes meeting these specs, supporting RMB 6.3 billion in sales to processors.\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\/CANVAS-Content-Activities-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\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBranded Product Manufacturing and Processing\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eChina Modern Dairy processes and sells branded UHT and fresh milk to lift retail margins, running 15+ on‑farm processing plants to cut transit time and keep freshness; branded products provided 42% of revenue in FY2024. By 2025 the firm prioritized functional lines (high‑calcium, low‑lactose), targeting a 25% gross‑margin uplift on these SKUs and aiming for 12% annual volume growth.\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\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSupply Chain and Feed Procurement\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eChina Modern Dairy procures and stores millions of tonnes of forage annually—about 1.2 million tonnes in 2024—to stabilize production costs and hedge against global grain-price swings that hit feed costs by ±15% year-to-year.\u003c\/p\u003e\n\u003cp\u003eLarge-scale purchasing, centralized inventory and regional distribution hubs plus logistics coordination cut delivery lead times to under 48 hours for 85% of farms, keeping herd productivity steady.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e1.2M tonnes forage procured (2024)\u003c\/li\u003e\n\u003cli\u003e±15% grain price volatility hedged\u003c\/li\u003e\n\u003cli\u003e48h delivery to 85% farms\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\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEnvironmental Management and Sustainability Initiatives\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eOperating large-scale farms forces China Modern Dairy Holdings to run intensive waste management and ecological protection to meet strict Chinese environmental laws; in 2024 the company reported RMB 320 million capex in environmental controls and aims to cut methane by 25% by 2025.\u003c\/p\u003e\n\u003cp\u003eThe firm invests in manure treatment that turns waste into organic fertilizer and biogas, with biogas plants at 60+ farms generating ~45 GWh\/year and reducing disposal costs.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRMB 320M environmental capex (2024)\u003c\/li\u003e\n\u003cli\u003eMethane cut target 25% by 2025\u003c\/li\u003e\n\u003cli\u003e60+ biogas sites, ~45 GWh\/year\u003c\/li\u003e\n\u003cli\u003eManure → organic fertilizer revenue stream\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\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDigitized dairy: 400k cows, 2.1M t milk, RMB6.3B sales, mastitis −18%, biogas 45GWh\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eRuns daily care for ~400,000 cows across 20+ farms (10,500 kg\/cow\/yr), digitized ops cut mastitis ~18% and labor ~30%; produced 2.1M tonnes milk in 2024, supporting RMB 6.3B sales; 15+ on‑farm plants, branded products 42% revenue; procured 1.2M t forage, ±15% feed volatility, 48h delivery to 85% farms; RMB 320M env capex, 60+ biogas sites (~45 GWh\/yr), methane −25% target by 2025.\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\/Target\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eCows\u003c\/td\u003e\n\u003ctd\u003e~400,000\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMilk prod\u003c\/td\u003e\n\u003ctd\u003e2.1M t\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSales\u003c\/td\u003e\n\u003ctd\u003eRMB 6.3B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOn‑farm plants\u003c\/td\u003e\n\u003ctd\u003e15+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eForage\u003c\/td\u003e\n\u003ctd\u003e1.2M t\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEnv capex\u003c\/td\u003e\n\u003ctd\u003eRMB 320M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBiogas\u003c\/td\u003e\n\u003ctd\u003e60+ sites, ~45 GWh\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 Before You Purchase\u003c\/span\u003e\u003cbr\u003e Business Model Canvas\u003c\/h2\u003e\n\u003cp\u003eThe Business Model Canvas preview for China Modern Dairy Holdings shown here is the exact content you will receive after purchase, not a mockup or sample.\u003c\/p\u003e\n\u003cp\u003eWhen you complete your order, you’ll get the full, editable document—structured and formatted identically to this preview—for immediate download and use.\u003c\/p\u003e\n\u003cp\u003eNo placeholders or omissions: what you see is the final deliverable, ready for presentation, analysis, or editing.\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":56749556269433,"sku":"moderndairyir-business-model-canvas","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/moderndairyir-business-model-canvas.png?v=1772215155","url":"https:\/\/matrixbcg.com\/products\/moderndairyir-business-model-canvas","provider":"MatrixBCG","version":"1.0","type":"link"}