However, continued media fragmentation dealing with the development of the Internet in China is beginning to impact advertisers brand development and overall communication strategy all of which are driving advertisers to seek agencies with the most integrated communication capability. We see advertisers actively seeking in fact demanding the agencies not only fully comprehend the nuances of traditional and new media, but also combined them in innovative ways, but optimizing their communication strategy. We see this increasing demand as a tremendous long-term growth opportunity for Charm, especially as we broaden our integrated TV and Internet communication solution.
We already entered the busiest time of the year. The CCTV primetime auction, which is the key parameter for business and advertiser confidence to the upcoming year will take place on November 8. And other key satellite channels will hold their 2012 pre-sales and auctions around the same time. Almost all Chinese companies will be signing their 2012 marketing strategies and budgets around this time. At Charm, we have been and will remain active in helping our advertisers to plan for 2012 applying our understanding of the dynamic media landscape and leveraging our proprietary planning and auction tools and database. We hope to develop targeted and effective integrated communication plans for advertisers and to help them achieve successful auction results.(Foreign Language) Therefore in spite of the macro challenges we see unfolding globally and within China, we still see distinct growth opportunities in our industry and will remain positive as we head into 2012. (Foreign Language) As for operating highlights in the third quarter, we continued to improve our service capabilities and are beginning to see the reward for past investments and winning new clients and securing foothold in new businesses. Read the rest of this transcript for free on seekingalpha.com