Guided by a “user-first, AI-driven” Global Strategy, we focus our business on the two core areas of e-commerce and cloud. We provide technical facilities and marketing platforms for merchants, brands, retailers, and other businesses to use the power of new technology to interact with users and customers and Operation more efficiently. We also provide enterprises with leading cloud and AI infrastructure and services to facilitate their digital transformation and support their business growth. AI technology will drive user value creation for e-commerce and other Internet platforms to achieve business transformation and upgrading. In fiscal year 2025, our business includes Taotian Group, Ali International Digital Business Group, Cloud Intelligence Group, Cainiao Group, Local Life Group, Killer Whale Entertainment Group and all others. Around our platform and business, an ecosystem of consumers, merchants, brands, retailers, enterprises, third-party service providers, Global Strategy partners, and other enterprises has been formed. In order to advance the “user first” Global Strategy and further optimize the overall user experience, in fiscal year 2026, Taotian Group, Hungry, and Flying Pig will be integrated into an e-commerce business group in China to upgrade the e-commerce platform into a CSI Consumer 360 index platform. Meanwhile, Cainiao, Gaode, and Killer Whale Entertainment Group will be reclassified to all others.