My personal very first question is throughout the key Momo. Can government comment towards 2024 tool methods in addition to the new money frame of mind? And you may my personal second real question is on the shareholders' return. Can also be management remark about the thoughts on share repurchase and you may returns?

So it structure just highlights the brand new timely social value of the fresh new Momo app, as well as boosts the penetration rate out of purchasing has and also the monetization potential of your platform

Yan Tang: [Foreign-language] [Interpreted] Therefore i'd like to convert basic. Our purpose to the adult Momo application for now as well as for the following years is always to contain the pages and you can revenue scale steady and you will continue to improve the price design and maintain the newest production associated with the goldmine company. Ergo, the performance preparations in regards to our issues, affiliate points, industrial products and channel job is most of the concerned about that it proper goal. As well as analogy, this present year, the member tool class extra a routing pub getting flash cam on the website in order to head pages so you're able to matching-mainly based actual-time voice otherwise text message messaging knowledge like [indiscernible]. And you can all of our commercial tool teams stuck spending provides such as for example real time online streaming otherwise chatroom on these enjoy. Our very own affiliate order team features fine-tuned the work at paying pages and it has strengthened cooperation with the economical equipment party to better fit profiles regarding the streams. As well as the resulting ARPU gains have offered the proceeded change in channel Return on your investment, enabling me to maintain a stable member scale and you can strong public fundamentals having a consistently decreasing revenue funds, and that plays a confident character for the boosting Momo's overall funds. Inside 2024, we're going to continue steadily to play the strategy into Momo device and you will streams.

Hui Peng: Okay. After this earnings call, our very own employment tend to move ahead so you can assembling the latest financial package to own the coming year. Prior to that bundle all comes together, it's hard for my situation to share with you the prospect when you look at the a beneficial extremely decimal way. Yet not, just like in the past, even as we means the conclusion the season, you will find several fashion that individuals is talk about to simply help you think about the additional range points can get circulate heading towards next season. And several of the investors understand, Momo is actually a brand name that was around for over 12 years. With respect to monetization, becoming 12 years old features one another petite het Norska tjej pros and cons. The greatest downside here, naturally, is that it is currently quite adult when it comes to affiliate entrance as well as have seriously monetized with respect to ARPU, that improve providers a whole lot more cyclic with the macro and you can this new regulatory ecosystem.

Regarding financials, I am going to leave it so you can Cathy

Thus the following year, we always get a hold of macro and regulation features dos biggest products that will move the Momo business possibly right up otherwise off. Macro-wise, I guess, we have all his own estimation. So i do not think I am aware better than dealers do for the this area. Regulating front, perhaps you have realized, we've been most sensible and you may traditional to make sure we stand agreeable. That's why in the past few house, if you evaluate our efficiency, i've clearly become a lot more secure than much of our co-worker throughout the public activity room. I guess which can will still be the outcome next season. That being said, because of the total environment that people deal with now, what we should want to do is to try to notice regarding effective user and you can funds increases as opposed to looking for finest line progress in the all the will cost you.

During the past few household, we've been scaling right back regarding some of the representative and cash projects you to generate limited otherwise sometimes even negative ple, you will find within this year's 12 months-stop battle skills, we next slice the added bonus for service-passionate marketing and advertising occurrences. Such competitions aren't such useful in building a healthy social ecosystem which means, blog post regulating risks in the current ecosystem. At exactly the same time, even though the agency-inspired situations would carry out a spike within the funds, even so they usually damage margins as well as render bad payouts. So within this Q4, what you're gonna look for is the fact that progressive funds future away from seasons-avoid race is about to rather shrink down. However, since actual advertising and marketing costs and you may investing together with dramatically transpired, brand new profit impact is largely a little limited.