The margin trajectory of cloud-based deployment segment is far more interesting. Notice how gross margin here was precipitously falling and even turned negative in 1H’25 when the Chinese labs were essentially on a death march to grab market share. However, as mentioned earlier, once Zhipu realized they can actually exercise pricing power here, gross margin transformed from negative in 1H’25 to 22.4% in 2H’25. Given their further price increases in 2026 and removing discounts, I think it’s highly likely that gross margin will continue to increase in this segment in 2026.