So — but the good thing is from the profits and cash flow of all the e-commerce business, we are more than enough to cover the investments, we need for Gap Greater China. So overall as a group level our profits for this year will be positive and our cash flow for the group level will also be positive. Sandrine, would you like to add anything?
Sandrine Zerbib: Well, I think you said pretty much everything but indeed, today’s maybe a stabilization, however, we still are going to grow the top line this year to a certain extent. And already we see some positive signs on the gross margin. Gross margin, from the very first day we told you is a key aspects of recovery. And we already start seeing some positive signs. But overall talking about the metrics, obviously, it’s about the top line, the growth of the top line, it’s about the gross margin, it’s about the profit, the positive cash flow and the efficiency of our operation. So this is the matrix by where we actually assess the progress we’re making on this business. And for the time being, we are on track, that as after stress its the mid to long-term journey.
Operator: Next is a follow-up question from the line of Violet Yi from China Renaissance. Please ask your question, Violet.
Violet Yi: Yes, thanks management for taking my question again. So my question is, since you’re upgrading your business line, BD. Now also BBM and BDI, how should we view your business profile both in the short-term scope and also in your larger view, say three to five years?
Arthur Yu: Thanks for the question. So from a business perspective, we have positioned the overall group into the three business line. So basically, for each of the business line, we will focus on a different thing. For BECs, our goal always to put the customer first, and to provide the value added service, which is the whole business where we will remain focused and we believe given our expertise and experience in this area and given the e-commerce overall dynamics in China, we still have a huge potential to keep growing in the top line and bottom line for this business unit. For BBM, our goal, as we mentioned earlier, is to utilizing the experience and technology and digital we accumulated over the last 15 years in China to transform the factories of China to make that business a growing a business units overall for the group.
So that’s our kind of the second wave of growth opportunity. And also the turnaround of Gap Greater China will give us the foundation to build a successful brand management business unit. And by having the capability in terms of the IT system, the structure, the processes and also the talent. And thirdly to Baozun International, it’s a long term investment. So, our view is to make sure that we can utilize the capability and the experience we have accumulated in China, but to adapt that locally for the international market, we selected, i.e., the Southeast Asia and Europe. But as a long-term investment and for 2023, we are not expect that will give us a strong contribution to either top line or bottom line. So that’s the overall profile for the three units.
Operator: Thank you very much. I’m showing no further questions. I’ll turn the conference back to management team for closing remarks.
Wendy Sun: Thank you, operator. in closing on behalf of the Baozun management team, we like to thank you for your participation in today’s call. If you require any further information, feel free to reach out to us. Thank you all for joining today. That’s concludes the call.
Operator: Thank you. That concludes today’s conference call. Thank you for participating, you may now disconnect.
