Jun Liu : This is Jun. Thanks, Nat, for your questions. I will address your question on profitability. Well, as just Lei pointed out, we have very clear long-term strategies, and we see many areas to further improve. We’re executing these strategies with determination. We will continue to nurture the development of healthy, more savings and better services platform ecosystem. We firmly believe our patient investment can generate value for consumers, sellers and the platform ecosystem. Feedback from consumers and sellers also make us more determined in seeking quality development. So we plan to further step up our long-term investment. For example, we are launching our 10 Billion Ecosystem Initiative to support quality sellers and improve our overall platform ecosystem. As we deepen our efforts, our profitability level decreased in the past two quarters on a quarter-to-quarter basis. We think it is normal for profitability to change between quarters.
Unidentified Company Representative: Operator, we may take questions from the next analyst on the line.
Operator: The next question comes from Kenneth Fong with Credit Suisse.
Kenneth Fong : I have two questions. First, for your global business, may management share what is the level of financial impact from Temu? How many users do you serve now? Could you — may be able to give us an update metrics such as the order volume? And I have a second question, now we see more sellers are opening up stores across multiple platforms. So it seems the merchant style selection of different platforms are becoming more and more similar. Can management share with us what’s the differentiation on the supply side, especially for your agricultural products?
Jun Liu : Thanks, Kenneth. I will take your first question about the financial impact of Temu. Well, this business is currently in its early stage. And compared to our overall scale, its revenue contribution is small. For Temu, as we mentioned before, our focus is always how to better understand consumer needs and how to satisfy this need. Financial metrics will be a natural result of our value creation. We will follow our financial discipline and ROI-driven approach when evaluating each investment opportunity.
Jiazhen Zhao: This is Jiazhen, and let me take your questions on supply chain and agriculture. In many categories, we see a lot of room to expand and optimize supply. For example, the digitization rates of agriculture produce is still low. We see a lot of on mass demand, and we also see a lot of quality agricultural produce are not efficiently distributed. And we are committed to leveraging our resources to increase supply chain efficiency and also to help more quality produce connect to the nationwide market. We provide e-commerce, training and connect farmers with agri-focused logistics resources, which helps more produce expand their distribution media and also help preserve quality as well as nutrition during transportation.
On top of that, our total grocery business continues to explore innovation and we help consumers get convenience as well as a broader selection of fresh produce. We also continue to drive agritech innovation as well as adoption. And we are deepening our cooperation with top economic institutes. For example, we recently donated RMB100 million to support a cutting-edge research at China Agriculture University. In addition to that, our platform sales can allow more research findings quickly reach the market, which can help bring more quality products to consumers. And we also proactively support every seller with our platform resources, including traffic to help quality produce reach more end consumers. So in this way, the quality sellers and the platform can grow together healthily and constantly improve our products and service quality.
Agriculture is our long-term strategy. So we will continue to mobilize platform resources and also our inputs go deep into the supply chain and bring more quality of produce to consumers. Thank you.
Unidentified Company Representative: Okay. It’s about time, and thank you, everybody, for joining us on the conference call today. Thank you, and have a great day.
Operator: Ladies and gentlemen, that does conclude our conference for today. Thank you for participating. You may all disconnect.
