Operator: Ladies and gentlemen, thank you for standing by, and welcome to the Tencent Holdings Limited 2012 Fourth Quarter and Annual Results Announcement Conference Call. At this time, all participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. I must advise you that this conference is being recorded today.
I would now like to hand the conference over to your host today, Ms. Catherine Chan from Tencent. Please go ahead, Ms. Chan.
Catherine Chan - IR: Thank you, operator. Good evening. Welcome to our annual results conference call for 2012. I'm Catherine Chan from the IR team of Tencent.
Before we start the presentation, we would like to remind you that it includes forward-looking statements, which are underlined by a number of risks and uncertainties, and may not be realized in future for various reasons. Information about general market conditions is coming from a variety of sources outside of Tencent. This presentation also contains some unaudited non-GAAP financial measures that should be considered in addition to but not as a substitute for measures of the Company's financial performance prepared in accordance with IFRS. For a detailed discussion of the risk factors and our non-GAAP measures, please refer to our disclosure documents downloadable on www.tencent.com/ir.
Having said that, let me introduce the management team today on the call. They are our Chairman and CEO, Pony Ma; President, Martin Lau; Chief Strategy Officer, James Mitchell; and CFO, John Lo.
Pony will kick off with a short overview of the financials and performance update. Martin will discuss our mobile Internet strategy, James will review our business performance, and John will go through the financials, and then we'll open the floor for questions.
Now let me turn the call over to Pony.
Huateng Ma - Core Founder and CEO: Thank you, Catherine. Good evening, everyone. Thank you for joining us. We are pleased to report another year of solid growth in revenues and earnings, and let me quickly (line) some of these numbers for you.
For the fourth quarter of 2012, total revenue was RMB12.2 billion, up 53% year-on-year and 5% quarter-on-quarter. IVAS revenue was RMB8.5 billion up 32% year-on-year and 1% quarter-on-quarter. MVAS revenue was RMB934 million up 9% year-on-year or about 1% quarter-on-quarter. Online advertising revenue was RMB947 million up 58% year-on-year, or down 7% quarter-on-quarter. e-Commerce transactions revenue was RMB1.7 billion up 48% quarter-on-quarter. Non-GAAP operating profit was RMB4.3 billion up 23% year-on-year or down 3% quarter-on-quarter. Non-GAAP net profit attributable to shareholders was RMB4.1 billion up 40% year-on-year and 15% quarter-on-quarter.
For the full year of 2012 total revenue was RMB43.9 billion up 54% from 2011. IVAS revenue was RMB32.0 billion up 39% year-on-year. MVAS revenue was RMB3.7 billion up 14% year-on-year. Online advertising revenue was RMB3.4 billion up 70% year-on-year. e-Commerce transactions revenue was RMB4.4 billion. Non-GAAP operating profit was RMB17.1 billion up 29% year-on-year. Non-GAAP profit attributable to shareholders was RMB14.3 billion up 31% year-on-year.