Charles Zhang: Well, the, I think in Q4, the internet service will have some improvement, right. Because the Q3 is a kind of, it’s slow season for internet services. Like Q4, that will happen to double, right, and e-commerce. But overall, the auto industry has been contracting. I mean, people are not spending because the competition and less budget, because the car sales is not as robust. So, they becoming more cautious in promoting their products themselves. Some industries like fast moving consumer goods industry, FMSG industry seems to have — they are spending more. It is typical of economic downturn. People are drinking more. Drinking wines, consuming leisure time, and spending smaller — small items. So that’s a FMCG only has some bright spots.
Alicia Yap: I see. That’s very helpful. So, second question is related to the gain’s guidance for 4Q. I thought you mentioned there will be some expansion pack content update for TLBB series. So just wondering, what’s the reasons for the game’s guidance to also experience sequential decline?
Unidentified Company Representative: Due to most of our older games, we will have a natural decline in the fourth quarter. The content updates in the fourth quarter are not major ones, so they cannot offset the natural declines from the game revenues.
Alicia Yap: Can I follow-up on that one, is that — so when you have new games launched in action, then you would we should assume to see some sequential growth, right, in the coming quarters beyond 4Q?
Unidentified Company Representative: Typically, yes. But it also depends on the performance of the new game launched.
Alicia Yap: Okay. Thank you. My last question is on your share buyback. So, it is great that, we are seeing this $80 million buyback that newly authorized. Just assuming if we are using — finish up, all the $80 million. Just wondering what’s the next plan that management may have. Would that be, more buyback down the road if we finish that $80 million, or is that will be some other things that you are thinking? Thank you.
Charles Zhang: First to execute this $80 million buyback, right? And then we will think to start next. I think our focus is still on really — to really make sure our business grows and our social network, strategy works. So, there will be actually, we haven’t, we’ve been refining our products, both the Sohu Video and Sohu News. And the battle to really grow, so user base has not started. We’ve been refining our products and spending. So, we definitely need which has to continue to launch, to the major product. I mean, we expand to grow our products, the user base. And we are confident actually, so that’s why, and also, gaming. So once the Sohu Media and Sohu Video user base grow, I would say, I hope exponentially, because social network, that’s the way it grows.
It stays flat and then suddenly you got the product right and explode or grow exponentially and we hope that day will come. And then our advertising dollar will grow because it’s all tied with user base scale. And also, we hope that our game will even better in the future.
Operator: [Operator Instructions]. As there are no further questions at this time, this concludes today’s conference call. Thank you for participating. You may now disconnect.
