Haijian He: So after we relisted — or dual listing in Hong Kong, we actually didn’t publish our kind of management guidance. But have to share some color as well as we’re moving towards the year end of 2023. First of all, as you know, even today, right now, we have about 25% — 20%, 25% by different quarter. The revenue is coming from the CDN business, our CEO Tao mentioned as well. So we’re kind of in the phase of some adjustment from client mix from the products we offer. And as well as we control the cost, we procure the bandwidth as well. So — but if you look at that business, the first priority is we try to change the mix and the structure of the client products. Right? So we try to remain relatively stable, but we just the combination of the clients and the products within the business.
So that’s actually what we’re trying to do in the next two or three quarters. Right? So that’s kind of the first factor you probably can consider. But we’re not going to see the dramatic changes or swings from that business, but change the better structure of that. So this the first part. The second part is, as I mentioned, the new money and the capital expenditure were spending to the AI. Right? The infrastructure we built for clients and the mass, we call the model services, the solutions, and services with developed clients as well as the value-add part of the projects we do for the clients. So those are actually combined will be one of the — probably the one priority for next year to grow the revenue. And if you do a quick math, I put this way as every $3 or $2 spend this year, you’re going to see probably $1 or relatively around $1 of the incremental revenue you’re going to see for the next year.
So that’s kind of mathematical connection given the CapEx converts to products and products convert to the incremental revenue. So that’s the second part. So you can do a kind of analysis on that. And the third part is really about our very stable enterprise business. As you can see that our sub, Camelot, is delivering relatively stable revenue. And for next year, I think given the macro environment has been improving, so you’re going to also see — that revenue contribution of Camelot is going to see relatively growth as well. And our health care public sectors and the financial services enterprise cloud, we also see certain growth given we already have some flagship products in place for this year. And we can replicate that from city A to city B, right, from client A to client B going forward for next year.
So we’re hoping we can remain around 30% in terms of the GP contribution on the project level, but we replicate that to more projects for next year. So if you combine those three things, stable CDN, but better mix, spending our CapEx converted to incremental AI revenue for the public cloud Y-o-Y growth for Camelot as well as a stable revenue and profits, but growing revenue for enterprise cloud for financial services and so on and so forth. And putting it together, we are kind of confident to see without any big changes on the big environment our top line revenue for next year you may see kind of back to the Y-o-Y growth and the Q-on-Q growth as well. And Tim mentioned in the previous question as well, we’re hoping to get into a certain point that not only the EBITDA will be breakeven in the near future, but also we’re going to see the OP side is going to be put in our back pocket with the intention to bring a better profitability for the shareholders as well.
But the last point I want to mention is, we also will keep a very close eye on the competitive landscape, means our peers and competitors. We are trying to do a better quality of the work compared with other peers, but also we are happy to see we may next quarter or two, we’ve been catching up on the gross margin side in the next few quarters. But also in the Y-o-Y on the growth side we can maybe catch even better than the competitors as well, because we did a few things since last year when CEO Tao Zou come to the office, and we actually have a few things in place. And those efforts are, I think, two or three quarters earlier than the major competitors. You will probably see the recovery we are doing probably sooner than the other groups as well.
Operator: I would now like to turn the conference back for closing remarks.
Wayne Wong: Thank you, operator. Thank you, once again for joining us today. If you have any further questions, please feel free to contact us. Looking forward to speaking with you again next quarter. Have a nice day.
Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.
