I do wish to emphasize that in light of the Alibaba deal, Youku Tudou management will remain independent, and we will continue to be open to opportunities for cooperation with other strategic partners going forward.

Our management team strongly believes that the key opportunity of our business does not only come from just the increase in terms of number of users but also how we continue to enhance the value of our platform for our users.

Broadening and deepening the relationship with our users and advertisers have always been our strategic priority.

In China, going public has a cachet from a branding standpoint. It will improve our image to ad agencies, government regulators.

On top of opportunities in further traffic growth, there are increasing opportunities to fully realize the potential of the online video ecosystem, as China continues to evolve into a consumer-driven economy.

Getting direct consumer revenue through movies or games or other culture products is something that we are very suitable for.