Guided by Alibaba's mission, vision, and values, we have established the Alibaba Group Code of Business Conduct. It covers key ESG-related topics, such as observing business ethics, choosing trustworthy partners, safeguarding data security, and protecting privacy. Each year, all employees are required to receive training and pass an exam on this code. We stress business integrity and have established a governance structure to support its implementation. At the board level, the Compliance and Risk Committee and the Sustainability Committee oversee and manage relevant matters.