In terms of smart devices, Q4 is typically the season with the November 11 and December 12 shopping festivals. Our smart devices sales performed well during the November 11 shopping festival with the aggregated sales of RMB 100 million in Tmall, JD.com and Douyin up over 80% year-over-year. So in terms of Youdao Dictionary Pen, has retained the leading position in sales in its category for 3 consecutive years in both Tmall and JD.com. Youdao Listening Pod also ranked number one in sales in this category in JD.com. I think this all bodes well for Q4. Today, we announced that the Board of Directors have authorized us to adopt the share repurchase program in the near future for up to USA 20 million. It basically reflects management’s confidence in the business, both in the short term and in the long-term.
Yes, I think that’s all for me. Su Peng, do you have anything to add?
Peng Su: This is Su Peng. Just one more comment added after the Dr. Zhou we think about our expectation for the Q4. If you — the business, we expect to maintain the momentum of the business growth and whatever in the digital conserves but also in the smart devices and the rest of the sector we are you might see in. And we feel confident about this growth and we see we find the great potential of the market from the customers’ demand. And that’s why we think about the confidence. And also, we still have enough capabilities we invest with our new categories in the learning products as well as the new server initiatives, new services after the policy change. If you look at our balance sheet, we still have almost RMB 1 billion cash in our balance sheet as well as we do have about USD 230 million revolving the flow in from the net school that gives us the more capabilities to invest and waiting for — and see the feedback from the market and that we will feel about the promising about the market in the long run.
I hope that answers your question.
Operator: Our next question comes from Linda Huang with Macquarie.
Linda Huang: My question is regarding for the learning devices because we launched a very successful the learning tablets in the second quarter. So can you share with us how do you think about the future for this product, especially management, you just mentioned about the very — the sizable addressable market. So what kind of the market size we can capture in the long-term? And we also hope that the management can share with us what is the product strategy? Maybe you can explain with us regarding for your products back and the pricing strategy?
Peng Su: This is Su Peng. And first of all, we are still confident about our products of Youdao learning pad and — because we see about great demand in smart market. And we expect — if you — according to the Sullivan, and — Frost & Sullivan expected volume of education tablets is likely to reach about 7 million units in 2025 and with total sales above RMB 25 million, as we mentioned. And as we mentioned in the last call, we actually remember, we said we feel confident of our products. And last time we just released in August, we released our new products of Youdao, AI Smart Learning Pad and it’s Y10, it’s released in August and have been — right now, I think, has been sold out for the first batch of the 10,000 units. And that’s, I think, reflecting the strong demand from this new category.
