The marketing service revenues came in at RMB 438.3 million, a decrease of 38.6%. “With the addition of EV and EV charging segments to our diverse solar business, we are positioning SPI Energy for the future of renewable energy,” Xiaofeng Peng, the company’s chief executive offer said in a statement Wednesday.EVs have garnered extra attention after Nikola Corp.’s founder recently stepped down amid allegations of misleading investors.SPI’s operating headquarters are in Santa Clara, California, with operations in Asia, Europe, North America and Australia. Second one is about the take rate because we are disclosing GMV and revenue in different lines. The commission revenue was RMB 129.4 million, an increase of about 10%, primarily due to the growth in our live video broadcast business and the slight improved commission rates. That was due to the amortization of the broadcasting license acquired in September 2019. I am (inaudible) on behalf of [Thomas Cheung]. Private Securities Litigation Reform Act of 1995. ET. We believe year-over-year comparison is the best way to review our performance. At this time, I would like to welcome everyone to the MOGU first-quarter of fiscal year 2020 earnings call. [Interpreted] Yes, so the second question is about established host and how do we see the scale and magnitude going forward? Thank you, Michelle. However, in the future, we need to carefully consider the accuracy of acquiring these users, because the traditional model or the traditional marketing expense -- the traditional way of user acquisition doesn't really apply to the new model of LVB. So I think these 2 points set up together, we are very positive on the outlook for the LVB pocket. Gas is an important sector in this Midwestern state, where winters can be harsh and affordable heating is necessity.MGE’s revenues and earnings have slipped in 1H20, as part of the general market slide, although the company has remained profitable. So maybe let me translate the question. Marketing services revenue, which is mainly generated from our marketplace business unit, decreased by 73.1% to RMB 24 million, which is primarily due to the remaining impact of COVID-19 pandemic and also the restructuring of our business mix towards the LVB business. We will help them to grow. “In about three years from now, we are confident we can make a compelling $25,000 electric vehicle that is also fully autonomous.”Halving Battery CostsMusk is teasing prospects for a cheaper mystery model without ever having really delivered on the $35,000 price point he had long promised for the Model 3. Since early August, those rates have been flat, and it will take a significant boost to inflation expectations to drive them lower.Breakevens -- measures that draw on pricing of nominal and inflation-linked Treasury debt to create a proxy for price gains -- have been declining since August. All three will be available to take your answer during the Q&A session that follows. He rates APTV as Overweight (i.e. Could management comment on what's the competitive needs of MOGU's Live Video Broadcast business? Market data powered by FactSet and Web Financial Group. Qi Chen, MOGU Inc. - Co-Founder, Chairman of the Board of Directors & CEO [7], Raymond Huang, MOGU Inc. - Chief Strategy Officer [8]. Since peaking in early September, the main indexes have lost between 5% and 10% in the last three weeks, in a series of roller coaster trading sessions. [Foreign language] Thanks for taking my questions. As a pioneer in the live video broadcasting sector, we have built a dedicated system, which we call K-10 system internally, over the last four years. He described a series of innovations that include using dry-electrode technology and making the battery a structural element of the car. Supply chain partners, well, I think which we have leveraged a lot on that. “Given the high expectations into the event, we think the market will initially respond negatively to the relatively long timelines of the innovations and the lack of granularity,” he wrote.Musk, 49, said Tesla wants eventually to produce 20 million cars a year. [Interpreted] Okay. Before we begin, I'd like to remind you that this conference call contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and as defined in the U.S.