And as we just introduced — or prior the progress of our e-commerce business in the second quarter, our SaaS business for financial institutions and our [program] (ph) offline team business are developing steadily as expected, and accordingly to our plan. And we believe that we will have a more scalable and more notable business — more significant results to actually share with you in the future. Hope that answers your question, Alex?
Alex Ye: Sure, thank you.
Operator: Thank you. [Operator Instructions] Your next question comes from the line of Yada Li with CICC.
Yada Li: [Foreign Language] Then, I will do the translation. Hello, management. Thank you for taking my question. My question is about can management elaborate more about the reason on improving the dividend policy under current consensus. And are there potential impacts on the company cash flow? That’s all. Thank you.
James Zheng: Okay, I’ll attack this question. In view of the macroeconomic uncertainties, obviously we are maintaining a very prudent approach in terms of business growth. So, we are basically trying to look at more stabilized — stabilizing the overall kind of a scale, but really put the focus on risk management and profit. So, basically if you put more focus on risk management and profit, this will actually generate more profit. So, we continue to see the growth in profit activities. Plus, we continue to take cost optimization initiatives as one of our long term initiatives. This will also lead to higher profitability down the road. So basically, the cash flow from operation is sufficient and robust to support future business expansion.
And as we announced earlier of the year, we also have kind of restructured our original convertible bond with a PAG. So, the payment to the PAG actually is not an issue for us anymore. As a matter of fact, we have paid half of the original convertible bond amount. So, it’s cash sufficient. And, we feel that dividend really is a more direct and tangible way to reward the shareholders at this time. So, that’s why the Board has approved our plan to start giving out dividend on a semi-annual basis in the range of 15% to 30% of the net income as a recurring policy. So, really this underscores the overall management’s confidence in the operations of the business. So, hopefully, this answers your question, Yada.
Yada Li: Well, thank you very much.
Operator: Thank you. I’ll now hand the call back for any closing remarks.
Mandy Dong: Okay. Thank you, everyone, again for joining us today. If you have further questions, please contact us via our contact information available on our IR website. Thank you everyone.
James Zheng: Bye.
Operator: Ladies and gentlemen, this concludes today’s conference call. Thank you for participating. And, you may now disconnect.
