But that is to say that — having said that, we are still hoping that it will take time to recover. And also even if we are having a fully open market after the COVID control, still it will not generate the recovery immediately. And I believe that is going to be the case and still takes time to recover. And also the next point I would like to talk to you about is talking about the first half of the next year. Still, we are going to experience some of the stress in terms of the advertisement market. And also in 2022, in Q1, we did not have any impact actually from the COVID-19. And also, however, if you’re talking about the marketing activities and also some of the allocation of the budget. And in terms of the product promotion, for example, we’re going to see a very good situation in the Q2 of 2023 and even in the second half of 2023.
So there will be an upward trend. And also, lastly, I would like to say that if you’re talking about the next year, so you can see that more people and also more customers are going to act their budget, especially on the performance-based ads. And also, even if we are seeing the slowdown of the new product launch, but still, we are seeing that more customers are actually choosing our platform as their kind of platform to launch the report and also the new product launch of percentage against the rest of the other budget is increasing, especially that it’s quite obvious in the industry of luxury products and also the automotives as well. So third point is that in the next several quarters and also in the next year, we’re going to still focus on the cost reduction as well as the efficiency improvement.
So we’re going to have a very better situation in that. Thank you.
Operator: Next question comes from the line of Thomas Chong of Jefferies.
Thomas Chong : We have been seeing the cost optimization strategies and emphasis on ROI, this has been building quite well. In particular, we are seeing that reflects in our operating margin. May I get some more color about our strategies in 2023, our strategies in cost optimization? And how should we think about Q4 margin trend as well as next year margin outlook as well as the measures that we will be undertaken next year?
Gaofei: All right. So thanks for this question. Actually, I have been stated quite briefly in the script. That is to say that in Q3, we’ve been keeping optimizing some of the expenses, for example, marketing and related to R&D and also operation as well. We’ve had a lot of optimization. And also in Q2 and Q3 due to the COVID management and control policy, a lot of our offline events actually did not have or did not successfully hold. So we are going to move and delay them into Q4. And also the ROI of this offline events will be around 1% to 2% or so. So that is the reason why we’re having a slight higher margin in Q3 than it was Q2. So also, if you’re talking about the next year and also Q4 as well. So there are a lot of uncertainties in terms of the control policy of COVID as well as the economic policies as well.
