And we do believe that we will be able to seamlessly switch to the leading language models in the industry, including batch one on your end and events app [ph]. As you probably noticed, in Q3 of this year, we have already launched our music model connection platform 2.0. And we are also fully committed in accelerating the model use and especially making the model be a part of our production system so that it can help us to trying to continue the cost, and they are also going to boost our work efficiency. Well, you can also say that in the next 3 years, what we are trying to do is still leverage the existing LLM to continue to expand its application. For example, we already have the listening together product that is based on the updated LLM.
In other words, it can allow the users to listen to the same music, we are also able to chat with each other and also find out by having those models, the Q&A and also the chat efficiencies been greatly improved. Well, at the same time, compared with what I mentioned in the fundamental LLM, what we are trying to improve is actually our AIGC capacity. And we are also research and adopting the leading engines in the industry and some preliminary results has already been achieved in video, in graphics and in audio and you know some of the commercial results has already been harvested in our live streaming performance. Last not least, we also believe that AIGC play a vital room for music creation and user experience enhancement. It can provide the user a more personalized, diversified yet immersive music instruments.
In the near future, we will continue to invest and explore the improved innovation in this suite. We are also going to join hands with our technical partners and the music creators so that we will continue to develop and to create in the content industry.
Operator: Thank you. The next question comes from Alex Yao from JPMorgan. Alex, please. Alex?
Alex Yao: Hi guys. Can you hear me, okay?
Operator: Yes, we can hear you now. Yes.
Alex Yao: Yes. Okay. Thank you management for taking my question and congrats on a good quarter. I have a question on sales and marketing. You guys have been rationalizing the sales and marketing spending very successfully in the past few years – sorry, past few quarters. Now, that the revenue mix has significantly shifted towards music and on the back of potentially more online/offline integration and involvement in the offline music activities. How should we think about the sales modeling strategy going forward? For example, next year, are we still going to see a flattish or even slightly lower sales and marketing expenses versus this year, or should we think about, as you focus increasingly more on music with more potential offline activities, the sales and marketing will gradually ramp up in the next few quarters? Thank you.
Shirley Hu: Thank you very much. Thanks for your question. Yes, indeed, for the first few quarters, our sales expense has been well managed because we always adopted ROC to well manage our expenses. Well, regarding the future, actually, we do believe we are going to improve our profitability regarding the music of the business and we are still going to invest in the music channel business. But as we are adopting the ROC, we will be able to confidently translate the investment into returns. As you may probably notice and on the other side, we continue to strive for a better self-produced and co-creation content, and we are also going to launch more offline events or activities. So, for sure, we are going to need more promotional activities to do so.
But because we adopted the ROI management methodology, so in other words, our investment is highly efficient and effective. Well, regarding the Q4 of 2023, as you probably noticed, Q4 is always the season packed with marketing and promotional events. So, I think our sales and marketing expenses in Q4 of this year would be the same as what we saw last year. So, regarding the 2024, the sales and marketing expenses, from the absolute value perspective, it might be some growth. But compared with the revenue growth, I do believe our investment is truly efficient.
Operator: Thank you. The next question is coming from Zhang Xueqing from CICC. Xueqing, please.
Xueqing Zhang: Follow-up on the questions about IoT, as also mentioned before, you will expand IoT membership in the future. And so I would like to ask about your question that what’s the scale of IoT and MAU [ph]? And how many are paying users? What’s our plan to convert them into paying user in the future? And how should we think about the long-term monetization potential? Thank you.
Ross Liang: Thank you very much. Thanks for the question. Regarding the IoT business, our strategy is to make sure we have a very healthy growth for the loud speaker and the TV business where, at the same time, we are also going to step up our efforts in further expanding the user base for the in-car service. So, as you probably noticed, for the loud speaker and the TV business because the future growth potential might be limited. So, what we are doing now is to try and to dive deep into the existing user base making sure we have a very good monetization and also making sure we can grow up in the existing customer base. Well, regarding the in-car service, actually, we attached this great importance to the new energy vehicle as the new energy vehicle industry continued to grow, and we also believe that in China, we also see ever-increasing growth regarding the intelligent costs.
