Sunny Sun: I will translate myself for the English speaking audience. For the first question, we are also very happy to see that our asset quality remained stable and is going a upward trend. However, we were probably not in a position to say that there will be significant reduction in provision due to the uncertainties of the external environment, particularly the COVID resurgence-related economic impacts. Of course, we do see the possibility of such a reduction of the provisions, but at the moment, we think that it will remain stable. We will closely €“ we will keep a close eye on the external conditions in the markets. So at this moment, I think there are uncertainties. And the second questions regarding the drivers of the cost of funding, we are also happy to say that we have 20% €“ basis point reduction for the last quarter.
And this is of course, due to the favorable policies adapted by government on one hand, and also thanks to the years of a relationship that we have built up with our partners and we are having close and close co-operations. And so I guess this is a result of both drivers.
Operator: Thank you. Our next question comes from the line of Alex Ye from UBS. Please ask your question, Alex.
Alex Ye: So I will translate for my question. The first one is on our customer mix migration. So I’ve noticed that our per customer loan volume, the side has increased sizably Q-on-Q. So I would presume that was largely driven by our customer mix upgrade. But just want to get more color on the €“ for example, what’s the percentage of our €“ the high-quality customers per our definition and how does they change Q-on-Q and what’s our outlook from here? And second question is on the take rate. So given our ongoing customer mix appraisal, how has been the impact to our take rate, so specifically want to know more about the take rate for this quarter on the new volume perspective, and how does it compare to our total take rate from our total portfolio? And could we say that we have probably seen our take rate bottom from here? Thank you.
Jay Xiao: Talking about the premium or high-quality customers, we divided our customers into different dimensions from the risk levels. And currently, internally, we are mainly focusing on the level one to three as our major targeted high-quality customers. We are from three dimensions. First of all, we are €“ further understand via good performance customers €“ attracted back our original existing customers. And in the future together we further provide better services and better €“ based on the better understandings of our current high-quality customers, we are also taking the assets to further limit the high risk customers. Internally, we divide them as the risk level from six to eight. So together with all these assets, we believe our overall risk management structures or asset structures will be continued to be optimized.
Talking about the take rate, together with the further optimization of our risk management and asset structures, we believe our take rate will be also on app trend in the future. At the beginning of this year, we have the overall view of our take rate level for the whole year, which is 3%. Currently, this whole year view has now changed.
Operator: Thank you. All right. There are no further questions. I’d like to turn the call back to the management team for closing remarks.
Echo Yan: Thank you, all, again everyone for joining us today. If you have further questions, please contact us. Well our contact information available on our IR website. Thank you.
Operator: Thank you. This concludes today’s conference call. Thank you for participating. You may now disconnect.
