We hope we can finish that change and that will make the entity to receive the dividend distribution from a Chinese entity to the entity qualify, maybe in end of April or May. And we hope we on next earnings call in May — sometime in middle of May, we will issue a dividend for the first time, if I remember correctly. So we will — we still want to return value to shareholders, but we probably have to more rely on dividend instead of a share buyback, starting this year. Now definitely, we will keep enough money for the operation purpose first.
Unidentified Analyst: Yes. No, I appreciate all the efforts that you’re doing. Look, I mean, the valuation here is truly incredible and just based upon what you have been able to do, but you’re not the only one in this. There are 2 or 3 others, U.S.-listed Chinese fintechs that are about the same size. You’re all trading at multiples that do not reflect, I think, what your business has been capable of doing. The challenge is how do you attract international investors? How do you attract people of size willing to invest in your company because you just — you don’t have an institutional base of shareholders right now. That’s your challenge.
Frank Fuya Zheng: Yes.
Unidentified Analyst: So I mean how do you think you can expand that investor base?
Frank Fuya Zheng: As the regulatory environment will stabilize this year, I probably will be start doing road show in the second half of this year. Definitely, we’ll do next year. But we will start to do the road show maybe end of starting second half of this year. That’s something we will try to do. But I think in terms of valuation, it’s — as you point out, is industrial issue, it’s not like can be addressed by one company alone. So we will do what we could do and try the best and hope for the best luck.
Operator: Our next question will come from Mason Bourne of AWH Capital.
Mason Bourne: Nice to see the Company executing well. I guess I just wanted to dovetail off the last guy. And it sounds like you’re planning to do a dividend and some of your peers have done that. How do you think about that as far as the potential size of it? And would it be a quarterly dividend that would be variable depending on earnings or what is your outlook for that?
Frank Fuya Zheng: It’s a little bit premature for me to answer at this time because we haven’t gone through Board approval or something like that. But most likely, we will do like a onetime dividend once a year — onetime one year stuff, something like that.
Mason Bourne: Okay. And then I guess on valuation, I’ve got your stock somewhere under 2x earnings and about 0.3x book. And I hear what you’re saying about the volume, that’s an issue that we face just in the stock on the ADS. But could you do a tender where you could come to the market with a price and say show confidence do you think your stock is undervalued and maybe you get some people that offer up 1 million or 2 million ADS something like that or maybe even more, just if you put a price out in the market and say this is what we’re willing to buy back at.
