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Youku Tudou kicked off 2014 in a positive direction. Mobile has become the number one screen for Youku Tudou, and we are the undisputed leader in all of the important mobile video traffic metrics.

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.

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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.

The combined entity Youku Tudou Inc. represents a dominant leader in online video sector in China with the largest user base, most comprehensive content library, most advanced bandwidth infrastructure, and most effective monetization capability.

The enhanced features of our ad products would require sufficient understanding from our sales force, advertisers, and agencies. To facilitate this, we have held multiple training sessions internally and road show events externally.

The advertising market in China is big and is still growing at a considerable pace. While online video is emerging as a mainstream advertising solution, it still represents a relatively small portion of advertising budget in China.

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

On the monetization front, our strengthening leadership in internet user base and broadening reach of our platform have already positioned us as a must-buy platform in online video for brand advertisers to reach a nationwide audience within China.

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...

With the scale of our traffic, content library and monetization ability, we are confident to see profitable growth in the future.

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