Q4 2019 Earnings Call
[music].
Hello, Ladies and gentlemen, thank you for standing by.
Fourth quarter and full year.
Earnings Conference call at this time, but use offend somebody could only nodes.
She was prepared remarks.
She didn't answer session cities conference call. This mean recorded I want to try to call a little bit to your hosts misting Beaumont.
Secretary of the company. Please go ahead, Jim both.
Hello, everyone and welcome <unk>, the so called her and no 2000, Nike <unk>, Oh, well holding limited the company's without <unk>, who are the news. There. So this is only a today and have no need to online you can download the has released and.
I have to become <unk> email or those but is it the as much as an awful lot side as a adults who dot com systems, each I'd be a founder chairman and Chief Executive Officer, and Mr., Sheldon Oh, Chief Financial Officer, they'll start to carve it out to tell you know followed by.
Patches and onto session.
<unk>.
Note that today's discussion will contain forward looking statements made under the hub are pretty good yes, private Securities Litigation Reform Act the up Nike lighting side, so looking statements.
<unk> inherent risks and uncertainties.
As such the company's results may differ materially different from the views expressed today.
He told me should be garden, this and other risks and uncertainties. It's included in the company's registration statement on <unk>.
I Wasnt and pumping yes, I felt this bill yes securities and exchange can we ship the company. That's now does need any obligation to update any forward looking statements, except as required under applicable law.
Please also note that.
Cool <unk> earnings press release, and this conference call include discussions on an audio tapes, yeah that makes your information as well as others. It then GAAP financial measures schools earnings press release, <unk>, a weekend city ancient all the others had no debt now live TV and other to.
Most of the direct couldn't be comparable yes my list.
I'll now turn the call, although two Oh, chairman and CEO Mr.. We took me. Please go ahead.
Oh Gosh, a go is hunger <unk>, you'll hopefully.
Hello, everyone and some people joining us today.
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So do both bring home a woman I should tell me Jim do it.
Yeah that it seems they tend to go back in 2019, presenting a solid start both sets of data it's all patients.
In 2019, it delivered solid growth across all key metrics notable you Oh, well your agendas to step back 71.3%.
It was 13.7, it but betting on <unk> and the number of active customers.
Yes.
Page, 7.5% to 1.2 to three admitted.
No fluff called her which is a traditionally strong seadrill brought online consumption.
We implemented a series of three shows here and a consumer event during the shopping holidays, such has double 11, Black Friday and that December 17th luxurious basketball.
Turning now to make his marketing campaigns centering on or membership pull them supported by or yeah empowered operating platform and so there is that something is promotion activities lifted or is that it's going active customer base. So you know streak in those buff copper the number of.
Active customers realize more than 50% year over year increase and the number off the active customers to vote no membership.
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Told him to represent.
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Yeah people without either ticked up a strong growth momentum of China's at Euro goes and service Mark.
Also for the that a date power out or leading position in that marketplace.
And I thought it infrastructure built on supply chain, a customer engagement strategy AD technology advancements and there are over Ross dress for Brett.
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Hi, there what are your populates the geological they don't read a tissue golf.
John pilots with who wishes on children do you know our union adult.
And go to choose to put up with hinges on these.
On the supply drunk school remains committed to a diversified girls strategy and the optimizing our global supplying to networks to enhance our competitive edge that is typically the pulled up the categories Oh the customer demand from school is dedicated.
To count today to membership Echo system, and the increasing its active customer engagement that effort I think Jay that combination, there's a variety of cutting edge marketing events. They to both online and offline activities, you guys who doesn't Pat.
Customer.
Traction and a pay to conversion rates I, just didn't happen schools, a strategic focus laying on technology innovation and advancements across all platforms in the continuous efforts to optimize our capital and Denton data analytics.
At the end type capabilities.
That making that hits flat was a complete didn't need a power platform that policy size all call competitive threats.
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<unk> junior muscle lobby bone fine unless who then should get bored dish or something.
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I suppose hi, and then each and the England's continues to grow they're happy as stable ish or is there have been able to pick the fed. The all corporation. This more global that were threatened and a high quality suppliers things picking up the fourth quarter to date that's killed.
That wraps Corporation partnership there's a total of 39 your brands, including debt now I try to now that you and agnostic.
I'm also pleased to announce that valentino's official a high flagship store in China as.
As to that I wish the or that from early March.
Well the juices job out legal fulfil simple that de Boer Sim cards would you do it yourself off gobank drawing upon the Jubilee deal.
Can you caught up on shot show featuring he that goal was just on chooses Fisher Rishi song called Dunkin perks without gold or silver Yahoo people most unusual for them.
Football team had a double again she bought tons, yes sure songs shutoff She's on turned bond fund food cost for those people deal.
Conversion high yields show that you should not be odell hooked on Holly's.
They continued to our endeavors to extend its a cool it in channel featuring Trinity and that I.
Oh, it's stream shopping pull them not only to cater to the most the popular online shopping trends, but also to empower that's really fashion brands. This new retail opportunities too much larger base of customers in China for cool. It's been features a lot in Japan.
Engaging experiences such as the broadcast programs in director collaboration Brent if streaming and all shopping.
Sachin showed you stream and the fashion daring Salix and reach its activity has increased the user traffic and they take the conversion rate.
Jeremy as either through here. These are armed with other kind of hold it easier to put a g. bookings or could it.
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Would you bought how we all Domingo Google news on that Gulbenkina minute thought about joining other people deal.
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I'd like to provide more color on our midstream strategy that gave me. Some examples but you know state put cool out the Brent authorized at least in room in direct collaboration this prada and such and don't fit or live streaming shopping hoegaarden.
Features real time into action based.
Broadcast her to separate the Nazis then stall if it's been pulled them I pretty attractive and engaging the sense of those again.
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Take to put them.
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Moving to.
Oh social.
Through our unique value proposition and there was tempered by or integrated online and offline I phone. They have been enriching our product offerings in collaboration is more premium arrange note by her brand that has that hurt.
Cater to the ever widening spectrum I'll sell preferences of high end consumers for example, they know and China easy designer.
Brent exception has opened the online store on school platform. Yeah addition, devolve unknowns that Chinese fashion show on time Charter School lunch is mobile online trade show exclusively on sequel platform that is applying 2010.
I can bring her season show was cancelled due to they'll cronto virus epidemic.
They have a long term partnership this I'm I'm show and I'm going to aberrations in Manhattan, they're eating.
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Shop like App for the I'm kind of show to sign up for online shop on support and the pitch can support the upstream function.
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In addition to or anything or supply chain capabilities. They continue already used strive to identify and to create a deeper and small meaningful engagements. This high end customers throughout 2000, Nike there have been strategic Cosy Britton Hill, our membership mechanism.
And how cultivating or.
Hey member Echo system.
There's a big data analytics on the left girls purchasing behavior.
Yeah.
Preferences, and they I integrating or for approximately know how they see actonel trendium resources to continue to identify create and the expense.
Hi, and lapse they'll shopping recommendation for the plan users.
The mall that able to anticipate to end address their high profile shopping demand optimizing their shopping experience.
Over blowing the Valentine's Day shopping festival, if you're an athlete itself or tiered membership program initiated coupled to the upper motion ultimate hang on shopping basketball and holidays.
Has contributed to our role.
That's taking place in number of paying users on our platform.
Additionally, there's our dedication to.
Ensuring our customer enjoying first because shopping.
Despite the krona virus epidemic.
Separate it officially launched a expressed it already service Beijing, Shanghai Salmon and teamed up.
Customers out or product available to those.
Yes, good service.
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Diffusion over to you know with with you which is your body.
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Joe could you heard the religious Tuzla searching president didn't go through.
<unk> Jones joined here to the Jimmy Choo go shown sharing something awful credible.
Okay focus on housing user experience they accelerated our intelligent operating strategy by advancing and leveraging our capability at fixate her and the cloud computing.
Yes.
You mean there.
Fourth quarter, the officially lunch or unifies the merchandise management system. This system enable ultimately make its surprising and the smart product recommendations I beverage and.
Our identification big data analytic and cloud computing technology as a leader in the lets her.
You can buy sector. So cool leverage is a strong pin I'll, let workers authentication expert and a powerful product. The authentication database that incorporates locking technology to launch a unique online like we're re authentication service, which leaves us.
It could take it that's where a authentication institution so use their online.
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He wants to do these things will bump on shellfish routine in each consortium.
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So he can choose on third or you just how that you don't even though neither teaching you are working in a bunch in June.
The tone to the Foggia, Yeah [noise] licensing.
Filling they'll probably Nike epidemic.
Because those barrels the apply event and maintain only basic operations in or physical stores.
It's bounced centrally and local governments par and tying and Containments mattress.
In addition, beautiful the macro economic slowdown and overall all conservative consumption sentiment.
Exactly some shots are you have tour business. They have taken prompt action, you adjust operational and Oh, realizing or advantages as well after seeking high end sometime or snap on from China.
The consumer hi instrument Mount Sterling this.
Curtailed public.
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Bowers towards a state of pigment.
The main competed in the long time for factor.
And that continue to implement appetite to a platform operation.
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Absolutely.
You talked to Julie Gtwo, the easy to use John teach. It then we will have minimal in Utah has a whole bunch Jacobus cool homes input I either cookies wouldn't you should things on the same question.
Are there other yeah, well new zones I saw you sound simple the Tucson, Chunghwa Archie Vonpar GBP Boulder Colo.
Teaching gold bars, or something like Joey agree more.
Before the carpet to use your job Golden Star know a whole bunch of Copel.
Jihad Gulbenkina other over once you do both fusions to pull that gold rush to do something either use on me.
HM 2019, they accomplished a great deal.
Oh, and the optimize our global supply chain system implemented so smart recommendation initiated in house or the customer engagement longest upgraded the paid membership program as.
Oh, okay, but how they picked marketing snapple all his efforts Ah alliances or go.
That's a solid infrastructure.
The park sustainable growth or higher.
And the high end consumers.
Without them.
Okay.
Ambition to continuing their activities I just mentioned.
Also invest it.
Yes.
Our fashion closing cats grade and midstream channel is like the scale of pre owned the girl conduction.
Well the expense Oh cooperation that well I'm running high and the strategic partners. He has no or collaboration this after a blend and brings schools influencing upscale fashion space to Max panel.
So I know Youre Miller CFO children's again led by Dr. Shrotriya other human clinical trials.
Is that I will now turn the call although to a CFO mr. shouting cat, who will discuss our key opinion magic and they show is out.
Sure do everything, but the whole thing.
Thank you retired and Hello, everyone.
Cool. So are you doing she had issues with Cingal trial yet.
Two or three woman three super hard on Sunday. It are you reaching.
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<unk> for those who cool.
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That is that that's all Spanish real performance in 2000 my team continued to demos.
True to our solid execution also strategies, but did you ever a total revenue a and B you [laughter] point.
My fitting in 2019 I tend to it sounds like that's present.
Continue to pursue it was solid organic growth pathway and all that.
Adam over both partnership that you know the or due to our offerings and their strength or Brent dealership in the market.
Okay, all capability Beach, we believe this apart.
Okay to achieve or long term public goal and maximize shareholder value.
She is a foreign car dropping so well now are you doing pieces you do duties are tied with food now.
Well I like to walk you through our detailed financial result in the fourth quarter up 2019.
All in doing this is either youngsters in joking <unk> syndrome five results.
So you can feel bad about anybody who's looking our young children.
Mhm friendship and are you.
Generally include stuff at 51.9%.
Sure.
4.6 to eight fairly falls off upon her up 2000 Nike from arms.
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Let it for the fourth quarter up 2000 Nike.
I enjoyed at though for me if that's all the for the fourth quarter up.
2008.
Falling into an efficiency to $400 Uhhuh Cody terms on balance sheet bumpy, but how about the movie are shooting for Ya shameful Hugh Regan.
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Sure. We all agree you woman view, we more since you brought up something you can make well don't course.
Oh.
He wants me to show themselves Fine I look where you're working or so things are sort of parcels and.
Total revenue for the fourth quarter up we've got in my team increased by 13.8% to RMB 2.0 for any from RMB one point.
Doesn't hit my billing for the fourth quarter of 2018.
So we didn't beats achieving full year.
Oh regions on bonus due to new junior levels, you read a new leases who didn't really.
Turned on English the children validating data something cycles.
Cost of revenue increased by 19.6.
Present to RMB 1.7, before heading for the fourth quarter up to some Nike from RMB one.
Find a 46 setting for the fourth quarter up 2018, primarily due to the increase of toehold data.
Our lead uniquely suited to four minutes or so room for you and we'd Andy.
Yes, well, yes, Cody Sardano TBM balance sheet deals junior infantry within our then do you guys go down for you.
She was repeated itself.
Operating expenses decreased by 7.5% to RMB 200, and therefore, they said.
Good morning.
Since then we are bringing you integrate and before they see founder Youre using you for younger single Oh fulfillment expense increased by 74.7% to RMB 50.1 minute.
For the fourth quarter of 2019 from arms.
Okay 0.19 for the fourth quarter of 2008 includes was primarily attributable to the increase of shipping expense and third party payments conditions as well as the increases that caused the during the period.
Are there any duty diesel fuel, which also.
I feel we didn't see any of the podium followed by the sensors into two new homes you we've been yeah.
We are growing issue financings on frequency on it yet.
Marketing expense decreased by 13.9% to RMB and injured and they said many Florida fourth quarter up to govern Nike from RMB 800, and density Board meeting for the fourth quarter up 2018, primarily due to use the alliance.
Right advertising expense.
College students you should do well run your property. We then yes, gentiva easy right.
So do you think on balance sheet.
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Who's really Jubilee.
Technology and content development expense increased by.
7.3% to RMB.
Right.
Nothing for the first quarter up 2000, Nike from RMB 801.3, many Vodafone cover up 2018 increase.
Well functioning in Bangalore, you don't do that.
Anthony Davis either.
General and then you treat.
Yes, it has increased by 3.7% to RMB 60.
For the fourth quarter up nicely from.
Slide three men for the fourth quarter off 2008.
Thanks, Chris was the primary.
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Great.
Relocation costs.
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Our income from operations.
On the E fixed pay may fall.
<unk> costs are up 2000, Nike and hurt.
Yes.
For the.
For the fourth quarter.
Falling in June.
Due to finish portfolio targeting for Sox 400 region TV for younger can you read in June summer.
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Morning.
Non-GAAP net income beach.
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54.84 cover up 2018.
Gives your arlinda junior sorry, assemblages courses real hinges TV show here in two weeks in June.
Autonomy and are you getting showing up.
To be mindful of finance offer earnings call for the physical year up 2000, Nike vanish.
I will encourage listeners.
Two or earnings press release for further details.
She like when you walk you through.
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Youre welcome each year.
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Future during that quarter.
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The pool you breakout for you.
Finally alive guarantee recently pool for you in the user.
Julie end of the challenging you should that although features into our organization jostle about brought us into the user.
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HM East.
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Fraud.
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Merchant.
The informatics offerings.
Pat.
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Hi.
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Hi, Jeff.
Strategy.
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30 changes.
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Patrick.
Hello.
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Since to reach hobbies like you have no.
Actual results.
Thanks.
Hi.
Which cannot predict.
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Once again it is star was asked a question Angela.
The benefit of all participants on today's call. If you wish to ask your question to management in Chinese. Please immediately repeat your question Andy.
Flesh.
Once again ask a question at this Taiwan and your telephone keypad.
What we have a first question from the line of.
You Goshen of Macquarie.
Please ask your question.
Got internally, how inefficient, which a daily on already sheet feeder she's on ways.
Just to Tcone interest.
Tumor behavior.
And then my second question is how what are the countries, particularly competition from shares flex fuel.
And the JV Dot com.
Actually on competing for the corporation, which like chagrin.
Just yet.
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To junior and as a year thing.
The two Chuck.
Thank you bye change about another question once the inelegantly until they reach.
Hi, illegal condition that goes on horses algebra.
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In the JV censorship or whatnot.
Obviously, you change was yes.
Formats with pool, you deal with a bunch individuals on board, which allow you didn't chembio the engine.
Yes, we do it will change of our legal is all have all been better performance due to yourself.
Yeah.
These changes publishing change orders in the Gulf War sheltered engine with their financial rather you just for universities.
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Our media Candlestick employee shares on change out yonker gentle hobbling year level do you think that allow you to do you.
No gentler card.
And border coverage over the James all other exchanges is healthy.
Yes, DMD clinical the channels are using Qinghai retaliate hamlisch Alicia.
Silver deliveries will be from what you guys on value judging the.
And again this year the Nike has said the throughout China Engineers.
Yep.
At the other parts of the world.
Chinese government took a number of Navios contains the outbreak that evitable, you Carter, the macroeconomic slowdown and overall conservative consumption sentiment and.
That tends to have.
Some short term impact to our business.
Well as.
Global partners and suppliers.
After travel back.
And the globe.
Oh, Hello, that's our enter.
Consumer retail energy sector will be more adapted this back to search having bought by there.
Martin Love Apple field through online channels and fear factor.
Much higher proportion.
If you're right.
Sure, let workshop to happen right.
Looking forward.
After the event.
The addition.
The decline.
Brazil models as.
We'll choose to cooperate to this alliance platform.
Hello.
Right and this is reliable partner for them.
Hi, evaluation, which on a budget energy services the O'donnell.
The end on the board Archon Luzon huge opportunity to how you don't you Jay you with a huge in Nevada visual proven.
However, due to uncertainty.
Pemex impacts.
Similarly in Europe.
Well it tends to reach Krave, Nike will impact the whole industry will depend on future development, which cannot be predicted.
So the last for me and dispositions on the yes, Hi, gentlemen, changeable Yeovil Proteinsimple.
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Rebuying.
Total yields gel that on routine via dollar ginger themselves.
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Overreaching robot Gentile year this on the occasional challengeable.
Hi, John.
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Yes, Dave.
The next advances.
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Addison had the also a salary.
Process to a full fish.
Yeah.
Accounts.
Safra.
Offline merger.
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Probably likely epidemic.
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Two effects of collaboration.
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And gentlemen that Brazil, Carl's question and answer session for today I'd like to turn the call back over to the management receivables for closing remarks.
Okay.
Thank you once again for joining us today it has further patches.
Great contact.
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Thank you ladies and gentlemen.
The conference for today and thank you for participating.
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