Operator: Thank you. One moment for next question. Our next question comes from the line of Edison Lee from Jefferies. Your line is open. Edison Lee from Jefferies, your line is open.
Edison Lee: Hi, thank you very much for taking my question. My first question would be very much targeting, Jeff. And I want to congratulate Jeff on becoming the CEO. But, Jeff, can you share with us your near-term objectives in this position, and maybe also your longer-term vision for the company. And I think it’s important for investors to also find out what your KPIs are. And because there’s a privatization deal going on right now. So I think investors definitely would like to find out, in fact, where the company is headed under your leadership. So that’s question number one. Question number two is about the Changzhou JV. I understand that VNET is going to manage all the projects that will be acquired by this Changzhou JV. So I want to know operationally, what are those RDCs that will be acquired by the Changzhou JV will actually be integrated with VNET and how does that work? Thank you.
Jeff Dong: Okay, thank you. First question, I would like to see my goal actually, for short term, I try to — I mean, there is a couple of things. The first thing is, in terms of the strategy, I will continue to stress in our wholesale and retail dual core growth strategy. And second of all is try to improve our operation, optimize the overall operations and diversify our customer base, we will have some new customers such as the financial institutions and some new economy like the EV sectors et cetera. And another thing is, try to reach — we’ve done some restructure from our mid-office, try to improve our efficiency as well. And for the long-term, we will do some cost control and acquire some quality, EBITDA, increased, et cetera, as we mentioned and that’s to address the first question.
And regarding your second question. And for the Changzhou, I think most of the people are interested in this part. And I would say Changzhou co-operation, it’s more like we team up together to identify some certain assets, and which is kind of debt restructure on target. So going forward, we’ll try to leverage the Changzhou platform, and to extend our AUM and our exposures going forward which is a key to strategically position ourselves on this perspective. So that’s my answers.
Edison Lee: Thank you, Jeff. We kind of follow-up with another question, which is, will VNET be selling your existing assets into this joint venture?
Tim Chen: These are new projects, Edison. So we would not — this is not an instrument where we would be selling our existing pipeline into this entity. So there are new projects being identified and targeted. Jeff talked about sort of debt restrictions, these are also projects where perhaps there is an opportunity, given the current owners of some of these projects. And so we are teaming up with someone with the financial firepower to be able to take advantage of these opportunities.
Edison Lee: I see. So let me clarify that. So it seems that the Changzhou transaction will focus on brownfield projects. And so that’s why we never continue to focus on greenfield projects. So would that be an accurate thinking?
Tim Chen: The current targets, yes, would be potentially a brownfield or otherwise, yes. So less greenfield projects.
Edison Lee: Okay, thank you.
Tim Chen: But yes, we won’t be selling our pipeline into that entity itself.
Edison Lee: Okay. Yes, thank you. That’s it for me.
Tim Chen: Thanks, Edison.
Operator: One moment for next question. Our next question comes from the line of Sara Wang from UBS. Your line is now open.
