What is the meaning of "Subhanallahi wa bihamdihi, Subhanallahil-Azim"?

"Subhan Allah wa bihamdihi" means: "I glorify Him, praising Him." This phrase combines two statements: "Subhan Allah," which means glorifying Allah and declaring Him far removed from all that is unfitting to His majesty, and "wa bihamdihi," meaning I praise Him by mentioning His attributes of perfection and majesty, and affirming all attributes of praise and perfection for Allah. This is the ultimate peak of Tawhid (Oneness of God).