In my understanding for our continued increase investment in technology and the fundamental science, which is also what we saw for all those larger companies, advanced companies we respect is that their outstanding [indiscernible] coming from their own capabilities allow them to adapt to new alternatives once they come. That’s my answer for your questions. Thank you.
Operator: Thank you. Our next question comes from the line of Wei Xiong with UBS. Your line is now open.
Wei Xiong: [Foreign Language] Thank you management for taking my questions. First, I just want to follow up on the recovery pace of the enterprise hiring demand. Given that we’re experiencing a long period of uncertainties in the macro and the enterprise seems to lean forward or focus more on cost controls, does that — will that last a little bit longer, which means that after the macro environment stabilizes and started to warm up, enterprises might still need a little bit while to restart headcount expansion? And second, just given our very resilient cash position and profitability, just want to get an update on the progress of our share buyback program as well as management’s other thoughts regarding shareholder returns. Thank you.
Jonathan Peng Zhao: [Foreign Language] [Interpreted] Thank you for your question. And I will start with small and medium regular micro-enterprises. For example, for small enterprises only — that have 10 employees, when two of them need the job, they simply need to recruit two more in order to keep on with the business. I think those activities are the same for small and medium-size enterprises, any time they need to do the recruitment whenever they have demand. And for large companies, as we have all known that larger companies are more caution and slow in terms of decreasing their headcount budget. And I can give you two examples. The first one is the large companies have been less active in laying or firing people. So that situation is becoming less and less.
And another thing is that we have all witnessed a lot of large companies. They do the layoff on one hand and do the recruitment on the other hand simultaneously, which is — actually, this is a very good opportunity for them to fire those people who are expensive and low quality and have some people with high quality, but less — much more cheaper. Those business opportunities, which all of those well-trained administrators will take. And in terms of when we can expect enterprises across all industries and those different sizes starting to do a very aggressive recruiting, I don’t have a clear view at this moment. For share repurchase and capital allocation, Phil will take the question.
Phil Yu Zhang: So last year, we had our first tranche of share buyback program. The size is — size was RMB150 million, and we used up the money at the end. This year, we have announced a new round of share repurchase program in Q1. The total size is also RMB150 million. We just executed a little bit, and we will continue to execute it going forward. Regarding our situation, we have high cash positions and good profitability plus a positive free cash flow. We do appreciate shareholder continued support, and we definitely will think about how to improve shareholders’ return. Company is doing some research and trying to find appropriate ways to increase shareholders’ value. So, please give us some time.
Wenbei Wang: Thank you. That’s all for our answers. And operator, please proceed to the next question.
Operator: Thank you. Our next question comes from the line of Yang Bai with CICC. Your line is now open.
Yang Bai: [Foreign Language] Okay. I will translate by myself. The first one is the service industry and warehousing logistic blue-collar workers have been at a stable growth point throughout this year. We want to know if our performance stands out compared to other competitors in the same period? And what our main competitive advantages are? How do we currently view the sustainability of this business? Second one is for the platform C2B ratio. What are the recent trends since the beginning of the year? How has the renewal rate of long-term customers and the speed of income recognition changed compared to before? Thank you.
