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Shao-Ning Johnny Chou, our chairman and chief executive officer, founded BEST in 2007 to pioneer a new business model leveraging technology to transform China's logistics and supply chain industry. Our Smart Supply Chain platform enables New Retail by providing technology-enabled integrated solutions and last-mile innovation. These encompass supply chain management, express delivery, freight, merchandise sourcing, cross-border supply chain, last-mile, financial and value-added services. Empowered by our proprietary technology infrastructure and nationwide supply chain service network, we continue to innovate and improve our solutions to meet evolving market demands. We have achieved superior growth. Our total revenue increased by 71.5% from RMB3,065.8 million in 2014 to RMB5,256.3 million in 2015, and further increased by 68.3% to RMB8,844.1 million (US$1,284.9 million) in 2016. Our total revenue increased by 119.8% from RMB1,477.8 million in the three months ended March 31, 2016 to RMB3,248.2 million (US$471.9 million) in the same period in 2017. We had net losses of RMB718.5 million, RMB1,059.4 million and RMB1,363.5 million (US$198.1 million) in 2014, 2015 and 2016, respectively, and RMB403.7 million and RMB422.8 million (US$61.4 million) in the three months ended March 31, 2016 and 2017, respectively.