Beck Chen: The GMV contribution from JD in Q2 is 67%, and we are expecting the penetration from JD will be further enhanced in the second half.
Operator: Thank you. Your next question comes from Andre Chang from JPMorgan. Please go ahead.
Andre Chang: [Foreign Language] Let me translate my question here. So with all the questions on cooperation JD Group, now I’d like to ask a question about the other customers, namely Douyin. Douyin’s food delivery business seems to, so far, make limited progress. However, the Douyin Group’s — Baidu’s group are trying to adjust their strategy recently according to the news. I wonder if the management can provide us with some updates about the cooperation as well as the outlook here. Thank you.
Jeff Huijian He: [Foreign Language] Thank you for your question. Douyin recently launched its food delivery service in more cities, and we have actively supported its geographic expansion. However, the business is still in the early days with limited number of merchants on board. Therefore, the incremental orders is not significant yet to pay a business. To our knowledge, Douyin’s contribution to our peers is similarly substantial now. Unlike certain peers, we’re pursuing profitable order volume growth on Douyin platform. Thanks to our edge in cost efficiency, service quality and network coverage, we are highly confident in gaining a meaningful market share on Douyin in the longer term. Our Dada Now business not only fulfills store food delivery orders, but also the 1-hour delivery orders offering for its e-commerce segment. And similarly, the contribution from Douyin’s e-commerce segment is not significant to our business.
Operator: Thank you. Your next question comes from Wei Xiong from UBS. Please go ahead.
Wei Xiong: [Foreign Language] Thank you management for taking my question. Just two follow-ups. First is on the longer-term margin trend. How should we think about the margin expansion pace in the next few years? And if we look at JDDJ and Dada Now separately, how should we think about the margin trend for each of the segments and their contribution to the longer-term margin improvement? And second, just very quickly, how should we think about the revenue outlook for Dada Now in the second half? Thank you.
Beck Chen: Okay. Thanks for the question, Wei. So for the long-term margin outlook, we — actually, we didn’t change the long-term margin outlook. So separately, JDDJ is a local version of e-commerce marketplace. So as a percentage of GMV, we believe that the long-term margin should be 3% of the GMV operating margin. And also for the — and in our businesses. So for example, like the supermarket chains delivery businesses in Q2, our unit economics is about RMB 0.50 after tax. So generally, the gross margin is above — after tax is above 5%. So we still expect to grow the gross margin, at least to 10% in a three-year time frame. And we believe that as compared to other express and logistics companies, we believe it’s totally achievable. And in terms of the Dada Now’s second half growth outlook, we are confident that they will keep to grow above — at least above 20% on a year-over-year basis. Thank you.
Wei Xiong: Thank you, management.
Operator: Thank you. There are no further questions at this time. I’ll now hand back to Ms. Caroline Dong for closing remarks.
Caroline Dong: Thank you, operator. In closing, on behalf of Dada’s management team, we’d like to thank you for your participation in today’s call. If you require any further information, please feel free to reach out to us directly. Thank you for joining us today. This concludes the call.
Operator: Thank you. This does conclude our conference for today. Thank you for participating. You may now disconnect.
