Kilickiran Hanzade: Nilhan and Seçkin, apologies, I had a technical issue. I couldn’t ask my question initially. I would like to follow up on the gross contribution margin. You have a very strong, I mean, robust improvement here. Would it be reasonable to say that some — I mean, large part of this expansion in the gross margin contribution comes from the inventory gains? Because there was a very high inflation in the third quarter and I just tried to understand whether this expansion is one-off or not. And — or otherwise, have you observed some structural changes in your business like a higher share of clothing category or better take rates that may continue to support the margins going forward? And the second question is, is it possible to provide some sort of update on the recent competition authority investigation? What it is about? And do you expect some negative results from this investigation? Thank you.
Seçkin Köseoglu: Yes, as I mentioned in my presentation, the re-discount impact on cost of inventory sold due to purchases on credit has an impact on the improvement in gross contribution. But the key structural improvement that we are making are related with the 3P GMV category mix towards higher margin product. And this is going to continue in the future as well. And definitely other revenue stream is something that we are continuing to expand, especially a word of note, our Premium fees, our HepsiAd, which is very important for our future profitability, and the expansion of our delivery services. So, these are structural key interventions that we will be continuing to have in the coming quarters as well.
Nilhan Onal Gökçetekin: Let me come back on the second question, which is the competitive authority investigation. There has been an investigation in Turkey for price recommendations for merchants from e-commerce platforms. We have been one of the companies that competition authority wanted to better understand the logic. We have been sharing all the data we have. This is a recent capability we developed in order to enhance merchants’ competitiveness, in order to enhance competitive prices with right ambition, with right material. So, we are very comfortable in terms of the potential outcome. There could be a situation, Hanzade, in the worst case scenario, the competition authorities could say, “We would like platforms to hold this application,” but nothing beyond that. So, even the worst case scenario, obviously we are ready for this, but we wouldn’t recommend it.
Kilickiran Hanzade: Thank you very much.
Operator: Ladies and gentlemen, there are no further questions at this time. The conference is now concluded, and you may disconnect your telephone. Thank you for calling, and have a good afternoon.
