Harvey Wang: Hi Stephanie, this is Harvey. I will take your question on OEM. And actually, we call it private label. We have I think in the last quarter probably it’s 9 SKUs, but now we have launched 25 SKUs of our private label. And all of these 25 SKUs have been well accepted by our pharmacy customers. And in those big trends, private label products contributed about 30% to 40% of their margin. So, while our B2B customers, those individual stores or small chains, they are not able to have their own brand. So, we put the tool private label of Guangdong for different type of customers. And we also, this private label to help them to compete with those big ones in this area. And there are also about over 100 SKUs in our pipeline. And we expect to see a very fast increasing trend in this project. Thank you.
Junling Liu: Yes. On the privatization, we understand that the process of the privatization is still ongoing. And the independent committee is working with the privatization proposal. The company should make all necessary public announcements according to SEC rules. So, I would suggest that you stay tuned on the announcement, if there is any to be made by the company. Thank you.
Unidentified Analyst: Thank you and congratulations again on the great performance of the company.
Junling Liu: Thanks.
Operator: Thank you. And our next question today comes from Adam Frank at Greece Capital . Please go ahead.
Unidentified Analyst: Congratulations and excellent performance in the last quarter. I am Adam Frank from Greece Capital. I have got two questions. First, does the company has a new business model innovation? And the second is lot of efforts, are you making to improve customer experience. Yes, that’s two questions. Thank you.
Harvey Wang: Adam, very good questions. Actually, regarding the new model, we are €“ actually, we are piloting our new model almost every day, every week. Of course, some of them fail. But there are also some initiatives, has a very good result. For example, like our One Health program, we have 12,000 pharmacies and millions of patients they serve in this One Health program. Pharmaceutical companies are leveraging the One Health platform to perform various digital marketing, including the coverage of new terminals, new pharmacies and especially expansion to also remote area and lower-tier cities. And also to do patient education, to DOT, duration of treatment, etcetera, this is One Health platform. And this new S2B2C model has been well accepted by our many pharmaceutical partners.
And the other example probably you can €“ I just mentioned about private label problem. So, it’s in a very good trend, well on track and our pharmaceutical partners, not only direct source €“ we direct source from them, also some of our pharmaceutical strategic partners, they are also OEM for us. So, all of these initiatives is part of our DNA, and we will continue to bring more initiatives to especially with post-COVID seasons. Every quarter, you should be able to see more and more initiatives in our announcements. Thank you.
Gang Yu: Let me take the question on our efforts in improving customer experience. In my prior answer, I mentioned about funding FCs. Also, I mentioned about shipments between FCs. These are in fact, a tremendous improvement for customer experience because we will have more fulfillment centers and we will also ship more products €“ can ship more products into fulfillment centers closer to customers. All these efforts will help to shorten the time for the whole delivery. And right now, Junling mentioned that we are serving 890 cities and countries within 24 hours. So, this is a tremendous improvement in customer experience as well as for reducing the product timing on the road. Another example of customer experience, assortment management, in the past, we just managed a nationwide assortment.
And now we are fueled down one more level. We managed the demand deployment for each fulfillment center meeting the demand of local customers. So, that will help to increase of our customers for this year. I will just mention those three examples.
