We're seizing the historic opportunity presented by AI and stepping up our investments in AI infrastructure and advanced technologies to further strengthen Alibaba's global leadership in technology.

Revenue from AI related products has maintained triple digit year-over-year growth for the seventh consecutive quarter.

We continue to advance foundational research and innovation in large models, pushing the boundaries of model capabilities while remaining firmly committed to open source.

In addition to faster adoption across sectors like internet services, autonomous driving, financial services, and online education, we're also seeing strong momentum in more traditional industries, such as animal farming and manufacturing, which are actively exploring AI applications.

AI-related product revenue maintained triple-digit year-over-year growth for the seventh consecutive quarter.

We are investing in selected strategic AI-driven initiatives that position us to capture long-term opportunities and create value to our users and customers.

AI can create new forms of interaction and engagement. We're piloting these things actively and we believe that AI will play a critical role in terms of driving long term enhancement in the user experience on Taobao.

Our Taobao and Tmall Group delivered solid growth, reflecting the improvement in monetization efficiency. In cloud, revenue growth continues to accelerate sequentially. We are executing with speed and precision to capture the substantial opportunities I have in the AI era.