Yimeng Shi: Hi. Thanks, Theo, for questions. Let me first explain a bit for this, the two metrics. Yes, you mentioned the metrics is daily active terminal, right? The data act terminal, we achieved a new highest of over 220,000. Compared with last year, this figure has increased by about 9.3%. It seems not very significant growth, but the revenue generation is quite strong compared with this growth rate in terms of daily active terminal. That means, yes, daily activity is a very important operation metrics. We give our hints how whether our user, our partner use how much of the terminal to generate revenue. So, that’s – the revenue generation is quite rely on the usage of our terminals to provide a better connections. So, that’s a strong indications of how revenues generation and growth in the future.
So, that figures pay us in the future. In this lever, 320,000, that’s the daily active terminal support our generated revenue in very fast growth pace. So, we – that’s why we are developing more new products to satisfy customers requirements. So, what more products are describing by our CEO, Mr. Chen. So, this new product will be long to the market and will support our more active terminal in the market. So, our growth will be growth – our revenue – service revenue will growth as well when we – the daily active terminal grows.
Theodore O’Neill: Okay. I understand. The next question is about the IoT, okay? So, in your prepared remarks, you’re talking about the expanding number of third party devices powered by IoT solutions in Japan during the quarter. Is there any particular end use application for those IoT, or is it broad-based?
Chaohui Chen: Yes. Well, our IoT, I think for Japan case is achieved by a partner. It is, they apply this solution for the end user, in the end user. So, for the (loader), try to enhance the reliable of the network connectivity potentially is big. So, that’s the fourth phase launch, and we believe they will launch the more bigger scale in the future. And for the IoT in Japan case, and also I just mentioned, we embed our solution into the module manufacturer. That means our CloudSIM technology embed into the module manufacturer achieve progress. And I think as more and more module providers embed our GlocalMe inside, so I believe this smart module know that it was SIM card placed inside and we provide a better connection, more network connection and the worldwide connection for this smart device.
And that is become more and more a strong need, I understand for this smart device, for example, like the smart card, like this smart charger, power battery, smart power battery, they are worldwide – shipped to the worldwide, but they need to be monitored. They are this factor and their performance. So, I think we provide this best connection and also a very competitive connection. And that’s why I believe in this part and in the next year and the following years, we will achieve a big number of the connections.
Theodore O’Neill: And my last question is about cash balance. You were building a good size cash balance here. I wonder if you have plans for acquisitions or dividend or similar?
Yimeng Shi: Yes. You see, as we launch, we achieved positive cashflow from operations for a sixth consecutive quarter. And so, accumulating operating cash inflow $16.7 million through the previous six quarters. So, our cash balance now is over $20 million. So, that’s – yes, we achieved in terms of growth rate is quite good. We expect we’ll keep this trend to generate more cashflow from operations to further improve our financial positions. Let our – we want to have enough cash balance to support the company to grow and expand in the future. Now, so far, we don’t have the target to announce to do some acquisition, this kind of things. We still have to focus our performance to generate more cashflows to enhance our strength position. That’s my answer to your question.
Theodore O’Neill: Thank you very much.
Chaohui Chen: Yes, I think, yes, I think – I believe – so I think our business 1.0 and also the following new product launch, I believe we will generate more revenue of our cash. That’s a good business. So, and we are – first is try to make the company more stronger, more healthy, first step. And the second also, we consider any potential opportunity in the future. So, which are in the consideration, but I think the first step is make the company more stronger, more healthy. That’s our preferred thinking.
Theodore O’Neill: Okay. Thank you very much. That completes my questions.
Operator: [Operator instructions]. This concludes our question-and-answer session. I would like to turn the conference back over to Jillian Zeng for any closing remarks.
Jillian Zeng: Well, thank you once again for joining us today. If you have further questions, please feel free to contact uCloudlink’s Investor Relations through the contact information provided on our website. Our contacts, our investor relations firm, Christensen Advisory. We look forward to speaking to you all again on our next quarterly call. Thank you.
Operator: The conference is now concluded. Thank you for attending today’s presentation. You may now disconnect.
