We aim to align with high industry standards in the field of legal and compliance. We will continue to conduct research and investment in this area to lay a solid foundation for our long-term healthy development.
Jiazhen Zhao: This is Zhao Jiazhen. Let me take your question on [indiscernible]. As we mentioned earlier on this call, in 2023, we saw sustained recovery in consumer sentiment and at the same time, consumers start to care more and more about achieving attractive prices. And in this background, we think it is normal to see e-commerce platforms increased promotional efforts and also focus more on price competitiveness. And competition is inevitable in our industry. In the face of competition, we always focus on understanding and meeting the needs of consumers and keep working on our own capabilities. Over the past year, we have built good momentum on our high-quality development strategy and we are confident in the overall strategic interaction.
And moving ahead, we’ll be focusing on implementing our strategy every aspect of our platform operation. First, we’ll continue to deepen our consumer mindshare and we do so by offering more savings to our users. We will very closely follow consumer needs and launch very simple and direct promotional activities targeting the most desirable product categories and price ranges. This is the foundation that we need to keep investing in. And of course, a good consumer experience is not only about price. In terms of services, we also continue to refine our entire shopping experience from presale consultation, fulfillment, after sales services to consumer protection. Our goal is to offer a safe and enjoyable shopping experience for our users. And at the same time, as a tech company, will increase our investment in R&D and we are guided by the principle of tech for goods and we’ll continue to strengthen our capabilities to empower a wide range of SMEs, promote the digitization of the various industries and also introduce more popular products to the market.
And high-quality supply is a key component of the platform ecosystem and its essential to serving our users well. And from this angle, we hope that R&D will further drive the positive development of our ecosystem. And we believe that by focusing on these areas that critical to long-term value creation. We can remain calm in a fiercely competitive environment and continue to improve ourselves and create greater value for the consumers and the society. Thank you.
Unidentified Company Representative: Okay. Operator, it’s about time and I want to thank you all for — again for joining us today. And if you have any further questions, please reach out to our team and thank you. I’ll see you next quarter.
Operator: Ladies and gentlemen, that does conclude our conference for today. Thank you for participating. You may now disconnect.
