The following table sets forth our analysis of share-based compensation expense for the quarters indicated by type of share-based awards: Share-based compensation expense related to Alibaba Group share-based awards remained stable in this quarter compared to the previous quarter. Share-based compensation expense resulting from Ant Financial share-based awards granted to our employees decreased significantly in this quarter compared to the quarter ended June 30, 2018. This expense was significantly higher in the quarter ended June 30, 2018 because during the quarter Ant Financial completed an equity financing at a higher valuation, which required us to recognize the increase in value of these awards.