John Lam: Thank you, can I have one more question, you also mention about two wings, what’s your plan regarding scale expansion and efficiency improvement for your two wings? Strategy for expansion and scale of investments? Full-service home renovation and furnishing achieved the 0 to 1 in 2022, is 2023 the critical year to go from 1 to 10? Please share with us key focuses and goals in 2023?
Stanley Peng: Okay. I will answer your question, 2022 was the year our two wings were born and took root. We have taken a solid step forward in both our home renovation and furnishing business and our rental business. It was still a baby step, though, from 0 to 0.1 in most cities. On the home renovation and furnishing side, our total contracted sales bucked the trend and increased by more than 30% year-over-year, with total revenue exceeding 6 billion. In both Beijing and Hangzhou, we reached the first milestone of over 1 billion in annual contracted sales. As for rental services, we entered 13 cities in 2022, and the total number of rental units under management exceeded 120,000. In 2023, we will establish benchmark cities, achieve the breakthrough from 0.1 to 1, and make committed investments to build long-term capabilities.
In 2023, our two-wing businesses will build on the current momentum in the cities we enter. We will not be pursuing comprehensive and rapid scale expansion. First, instead of focusing on short-term and rapid scale expansion, we will continue to decisively invest in our long-term capabilities, including the ability to standardize services and provide better online experience, as well as online operations of the supply chain, digitalization capabilities, product specialization for Chinese consumers, and professionalism of service providers. Second, based on these capabilities, we hope to achieve comprehensive scientific management, business leads conversion and operating efficiency improvement for home renovation and furnishing. We also expect to reduce the vacancy period for our rental units, improve consumer satisfaction, and enhance the efficiency of our service providers and our business.
Our 2023 goal is to penetrate several key cities deeply and establish them as benchmarks, enabling our two wings to truly complete the breakthrough from 0.1 to 1. In 2024, we will replicate and promote these benchmarks to more cities. That’s my answer, thank you.
Operator: We are now approaching the end of the conference call. I will now turn the call over to your speaker host today, Ms. Siting Li, for closing remarks.
Siting Li: Thank you once again for joining us today. If you have further questions, please feel free to contact Beike’s investor relations team through the contact information provided on our website. This concludes today’s call, and we look forward to speaking with you again next quarter. Thank you, and goodbye.
