Q1 2020 Secoo Holding Ltd Earnings Call
[music].
Ladies and gentlemen, thank you for somebody for CECO Holdings Limited first quarter 2020, <unk> earnings Conference call.
It's time, all participants are being listen only mode. After managements prepared remarks, there will be a question answer session. Todays conference call is being recorded I will now turn to call over to your host Ms. cheap <unk> Board Secretary of the company and store hedging.
Hello, everyone and welcome to the partners.
<unk> earnings Conference call Cool Holdings limited the company's who's out <unk>, you should know that still in says earlier today and that had been postpaid online.
Download the evidence pass through these and attitude the companys email alerts that visits and Oh section on our website at <unk> Dot School outcome. This does HIV <unk> founder Chairman and Chief Executive Officer and mystery shopping.
Oh, Chief Financial Officer will start because his prepared remarks, followed by a petchem and also session before they can bring please note that todays discussion will contain forward looking statements made under that said habit for regions of the yes Private Securities Litigation Reform Act.
Oh 1995.
Forward looking statements involve inherent risks and instances as such the company's reads out maybe maturity dozens of from the groups. It's passed it today.
Further information regarding these and other risks and uncertainty is included in the company demonstration statesman from Atlanta, and Washington gas as felt really does yes, its pitches and exchange Commission. The company. That's now they do any obligation to update any.
Forward looking statements, except as required under applicable law.
Also note that schools and that's really is.
Conference call I included discussions on audited GAAP financial information as well as and other to men death that venture matters schools earnings press release contains a reconciliation of the and other non-GAAP measures to me as other pits mode.
The directly comparable GAAP matters.
Now I'll turn the call over to Oh, Chairman and CEO Mr. Recharging. Please go ahead.
Yeah.
Oh, no concerns olefins and never be a holly.
Hello, everyone and they seem to me for joining us today.
Are they already or do.
<unk> <unk> <unk> <unk> soldiering on human nature.
Woman that Jim when we.
Although the movie I was just again, she New York.
Sometimes these things off I'm sure they are.
For example, where are you more you'd be talking isn't she's been going up and you should you be.
You changed your children Barnwell me is usually candles unitholders others with others.
Okay.
Do you choose other these engine so they do work or would you be thoughtful ginger.
You can be sold with a goal mission, we are talking about showing on the yourself seasons I you children and young General was who brought those really on mutual would go do.
There's no go what you're going to buccellato <unk>. She was in our goal, but it's all he's here at home from told me that fusion.
Local woman probably towards human that says here shortly pinching high yup order like Cymbalta Eucan cool for two months.
Just to cool to see the Johnny or do we chose not to just ammonium good usually something on the.
For me young to bring Fabi assumption, how to do with young kids I could just viewership.
HM getting bored you would you can hurt you sharing shot initial didn't jostle. She was a lot of Johnson.
Would you joke all been for will fall into this over the people hopefully you'll get a channel go with younger.
Uhhuh They will go up on deals on your Fogginess huge huge Judy bother she's luncheon meat.
In the first call her up 2010 pay but I still cannot virus outbreak, which shop the economy and post Ah. So can impact the on the Companys. Appreciate is there a chip decided performance there's a gen <unk> up 2.476, but R&D at you could.
I also <unk>, 0.2% year over year.
Also he said that number of active customers include step by 11.5%.
Oh, yes.
Notwithstanding the challenges presented by the pandemic, it's just starting encouraging to see no other changes really no new.
Tom or after the call that was to illustrate the travel restrictions imposed a during the pandemic.
Schuff ease of use the challenge of Chardan your upper Opco Chinese yeah, while the consumer buying behavior or have also been professor <unk> impacted due to that pandemic as evidenced that back that the people see refrain from going out and they won this crowd posed pandemic.
And that online shopping habits have further reinforce.
All they have contributes to a go back to increase <unk> online penetration of high and good answer it thus, allowing us to gain there ever brought a recognition as to the go to that we're committed to happen in China.
Drawing oh, well placed their strategies.
Execution, but it takes and the technology driven innovation capabilities.
The real good food play into Oh trends.
As I am a cap on user traffic rent of stature and technology to have more high and rent and the break and multiple retail stores I've said at the digital transformation.
Furthermore, the real continue providing consumers, who actually favor of high end to consumption and myself, there's no like Lynch Trendium hurt us in the service offerings, which is off called competitive strength and position us well too.
If you opportunities rather unleashing the great potential China's let go like become or something that's true.
What's youngkin Boggabri do ones with all woman to chime in here.
Before June four dogs Tribune coupon jockey, usually honestly from holds will.
The yield on one of the Hollywood in General should generally journalists, who the yields will go.
We're trying to football woman's don't coffee younger users each year that those are some Pos.
Which is should be for today most of the shift will show you.
He also woman the yields and Don.
Well John deal goes through June June Johnstown, Fooling kinship she volume for the money boots do Bucci, you went down but the war Golden something beautiful with Gilford as usual.
I'm sure that most up you have their own or preserves announcement, that's cool or has it and you see is yes, I haven't got many <unk> equities announcement from GBM. They have also from a strategic partnership that aim at right now almost opportunities in the lined up.
The others fitness faith, and leveraging that that has industry, leading producer and competitive advantages.
There's a strategic partnership except to mute synergies between both companies at that.
Our capacity and the competitive threats to drive or that hits girls.
Oh, yeah utilize the pursuit to further strengthens and meet the banking enhanced customer satisfaction.
I asked to Florida captured the rising demand for high end to pull that then there is in China.
The jewelry line because you don't hold his report on fashion their goal would you.
Yeah. Good student usually you Miss your tongue social bonds I love. It can go food cope with the things off.
We do for years and live long term goals here before the airport LABA watches the locker move holds true for do it on Mondays and she's signs of what do you feel about her she's gone out of them are you talking with people.
Rewind agenda, sometimes that awful.
I'm not going Unfortunately, mendel social about switch off all the little Botch again.
For many times here too easy things out you, Josh Goldberg I felt it or today, who work is usually use of our Chile once you're not using their social mobile could issue.
Well, you Harlows Coolidge cumulative loss Copel there to do enjoy your couldn't job <unk>, she's you're not been bunch of food.
Since the beginning of the first O'connor cool has posted a number of lot shortens after growth supported by a variety of add to that marketing approaches it into a salad extension of are paying customer base.
Name a couple of them.
Hey, they held the then.
Got it and I'm like shopping festival.
Featuring more than two isn't your big screen settings fashion aberration. This 13 top tier international that viewers yet.
We couldn't be prouder percentage for them or Pops, Roger Lynch, I meant and covering more than 40000 products.
During the there has been yourself.
At June 18th shorten basketball they took a more proactive approach is sales strategy laser focused on yeah hi.
Or renting.
Fashion, then mm Commission this more targeted marketing solution department has to successfully achieving or sales targets.
You'd have to cover a strategic focus after my window shopping experience for our existing customers have achieved a 34% year over year. It uses <unk> average transaction value auditors.
It's kinda.
For me, Judy Judy you pulled off or <unk> or Miller pick one should.
If you shouldn't confuse that shows you can do you push on Silvergrass generally each on lease.
They are linear and b to go to do woman Who's interior like she goes just level. The coupons are you I Booth you bought deal could affect.
Just fine on the if he Jones and she's on campus.
They remain dedicated to extend and they become blends relations fast to enhance the company's presents in the electric sector and the month with fashion consumers.
The good to partner up 2010 database. They had added a total all the hindered dictate Brent to attack on included I do I BOE, a day cars, Jeff banks and syndrome.
We put a g. balls and package would you John you in conjunction with you.
One group really is just how HOS gold born garnered a lot of people deal.
You also who could you booking volumes through dozens or not.
Turning to tons enjoyable, Asha surcharges, Georgia change only and she bought them to what Jim said to Georgia patients eligible to do.
The board has via phone here for me go caught all time your children under countries, Yes, Wwes on physician Wap.
Young population, she hasn't Bala times, Hong Kong, Sean Torrance.
Sure switches like ours can change either Chicago Shantanu, sometimes use in October the numbers hundred people.
So I can hedgeable jampel biosimilar team has yellow.
Well go hardly at all it's also important lawsuit homes you bought.
Jim can probably both you know mob today.
Oh gosh, a bought deal with Shibani Joshi tangible Gen telecom.
Oh duties will move outs divorce, she's a junior attitude is super parcels to didn't you like it's really.
Tony Hawk cultural diversity, both on the.
Brian do you suppose UGI bore.
I wish it will be old Angeliki hedges on brothers, all bundle, which in Sarnia there too she bought in high school.
Our machine got seamless should eat through bore fruit juice for cooking huh.
Overall, our support offering her boosters legible, sometimes only go private school and so those 40.
The problem the appeal the extreme fitness strategies dedicated to developing Transcept and I feel on the into the three shots sessions.
I mean, it's great. They continue endeavors related to a captaris take big screen channel that victory in the industry.
Well that there's a path of like really.
Such as the mm mm mm small shop work lies within the four hours.
Do you global just break.
Protect the three under Brent authorized says it's true.
To illustrate this man on the east all shops industry. Yeah addition to our effort to expense number off at the same store is further enhance the programs by extend shopping location from softer shopping.
Oh, either shopping district.
Sizes, they have for from more than 200 students session HM shopping.
And it's true.
That show why he and its usages.
Also our bed Housewives HM.
To attracting new fashion trends and it's really comes and if not only focus on midstream sale, but also accommodates the.
When they show and New addition, lunch for example, and or platform now ballot houses for these students session to treat them that.
Yes, that's true for them they show Jordan Nationals, and Agenus headcount.
Oh, it's true stress and Julie.
There's a cumulative.
Cool pool as that is you calculated or fashion or proficient drug test Hutchison his expertise deep broadcasting that's really hurt us.
Hi.
Cool flaps for attracting new blood tests are really even power in high end.
Consumers to join our platform by leveraging our advanced technologies massive high end customer base and basis 50, K. take the midstream platform and so that is building out.
That runs.
Shifting to midstream Echo system, which then 18 hours the cold or visit.
Well you how about she halt for within wallboard dishes until those shares onboard the audience offer booking.
Who we she's on Joseph Tung Duncan Hines keyboards game consoles team has done shoot Genconn, Dan can you imagine so for them.
Jordan, given our toll eat smart home for the trouble for them. So here, we told you that she wants.
Good for you I hear the what's your child, but we're just we're trying to find a gentle you, but surely will go down to teach European other peering can there might have for them.
Hi, This is on Joshi against your Vonage pushes on anything.
The government Honda jet boats are shooting a ballpark here the turns out that do that Bashar London to Hong Kong.
She is on Georgia voyage and once you know overlap on ones are you holding.
Someone apociii meantime, Jim who can do that into down to a total of people.
He has been Gallup on live.
Mainly first two main seventh as the.
It's clearly says it covers have nothing out of China fashion.
So cool completed over 106 recession for China fashion with them.
Okay fashion show them.
To the nations and there's no I know marketing campaigns for participating then beach generated more than 1.5 many units visit.
Besides schools membership driving the exclusive or pay that age so that nexium out I know those campaigns that joined launched by some pay plans from 15 countries along with that.
Notably cool hosted a fashion forum on the event.
Featuring a member of old fashion industry users.
The upstream borrowing.
Generated 810 day, south and viewership, including many industry.
The midstream fashion not feeling bad China. That's unique has successfully vote, that's got a social attention and Ah Ah that's topic as mm.
Volume of Pizza unregulated discussion do they bought it Egypt.
So many times between the first of all.
They reach significantly increased a school then that is and attract a lunch traffic.
Why do you ever bowling partial thing for you told audio with younger point should be Lucky Vice President hockey intelligible for both something bone itself with the British also says we're going in parallel adult changes or something.
For me, though in can you hold at her football you don't we're certainly children.
Uhhuh jewelry. So you are sort of surgeons, you bought deal with that pool for voting huh.
Hi, crush odious you go to find the surgeon huge double that horizontal she should I will go Josh. It should you bought her I'm not aware among those who decided it supposed to go shows routine parts do some 500 opposite assumption.
Additionally school entered.
Collaboration is beating shot we use social networking platform, that's attractive vast amount of user traffic such as the and I show.
Through collaboration they launch a series of cross platform. It seems that aim to provide a wider range of <unk>.
Consumers this fashion that room schools.
Porches by school high quality supplying pre owned lots were attached rate is entry point for us to get connected so.
And now support has become the top online type of so.
Okay. That's good good three new business in terms of collaboration there is quite shuffle I have to show a financial distress, but then that would strike we hope that HM.
Got it by a sequential.
Yes.
Aside our midstream satisfaction is concentrated hits.
Luxfer or to come over and enjoy snatching appeared that there's some doesn't let louis them such as Atmos Lv ammonia chief.
Sure now that you know if I mean, you should we could you tell them what youre.
And your book woman table teach them about what did you find that both so you could you have opinions on the young.
No question, we do see you'd need to go my producers are there things you.
Sure home rubles, you're going to the Brooklyn, calling dissolved bushel, yet jumpy Samsung for years to go holders Donkey Union, but that could know how to jump off.
Mhm quite citizens utilities ourselves as a hobby.
Would you look the warmer how I'm going up is what you saw that didn't kick us off you choose you called out a joke window opens you know how to cope with neutral.
Can I own color obviously.
Mhm.
The news.
Bundled usual crazy she's going to born no for bond mutual funds gene bundle just following up on them.
TJ over 40 units wishing you up or do not she bought a deal with homebrew hope she wants it.
It wouldn't be a comprehensive yeah empowered tap on has already seen at the heart of strategy. This partners. They have made big strides towards apply big data analytics search and a personalized merchandise recommendations.
Based on the analysis of user behavior and auto has two ways.
Just automatically Teva defense recommendations to end or.
Yes, and no not really end user there's such as homepage for that's the page and the virus activity page in its place it can't happen users to Nick if they could see and it neutral to fix rate. Furthermore, they have also due to the overall upgrade.
Oh, well between technology to be adaptive to the inflation the rising between volume and average he has to her.
Okay, So with that house, a plot technology from added backlog.
Thank God and she Oclock our platform features all rounds assumptions for.
Post a front either funds assistance from the operation from.
Which not only includes the children's also ensures the rooms and synthetic <unk> of the between.
Sure sure who are fully comfortable with your dollar jackpots, only counterintuitive Jersey junk food done sort of people.
He is true then switching to how to shuffle, Charlie you don't use or sample so bullish in foodservice sure sure.
Well, we don't tell how can jump in price juice, you've all you do you bought shimoda holder.
You too I really boot to booty carport, you'd you'd lose all Chicago and you know for bundle football.
Usually colborne ours or some color Joey agree more shirvaikar, you're going to other cover once you.
Good bookings you propose a goldrush sounding either usually.
Yes.
Assumption no production and the business operation stepping up their studies that overall economy will gradually recover.
Syllables future asset back or strategic partnership this.
Yeah mm for synergies as a corporation.
Well it has no will remain committed to hybrid team or operations on a number of rents well since the neither stream channels.
The expanding or combinations with no codified suppliers and high and the strategic buyers.
In line lives or not will then strategy.
Given our pre owned.
Network connections to me all the cooperation is high and then.
Now to make me in school, England, asking her passion space to the Max Nemo.
Yes, Youre merciful choose our June says on the back I guess, what's your other years, so I would phone calls.
With that I will now turn the call although to a santo nutritional content.
This kind of a key operating metrics and then entry is out.
Sure.
But uh huh.
Thank you very tight and Hello, everyone.
You will see.
Simon <unk> Schuster shopping pilots Sheldon.
Fronting from these people want those rules shopper.
For more than five wasn't he says she's earlier resistance.
She was warm and cold on some high this year.
We sold on selfie, She's you either for you.
Format, we see he's got a physical.
Turning to know farm.
He says job guys sorry.
For me look what's missing zoning.
It sounds like when do we woman's isn't though im sure those hiring.
Well Miss anything.
So its young Suzhou woman's that since it was a generalized Cory freeform albertsons.
Being brought to hold this is very simple, which I assume.
Yes, so stupid shellfish isn't much she's on using.
The outbreaks of Cardinal buyers and it has Rob and Kristen take half the on the left girl consumer industry in the first half of 2010 days.
First quarter revenue performance was not can be impacted while it was encouraging right to be a cheap the double digit year over year gross or key operating metrics.
This performance demonstrates the attractive.
Upscale caf one and go back the demand for the high profile products and services. The aim to continue investing in technology enhancement to further abuse or intelligent operating system in order to activate the efficiency and to improve profitability, but.
Yeah, I had a car capacity and a stringent a cash position that a solid financial Foundation beach, Libya, they'll to partner to recover or growth momentum in the near future and capture the numbers potential in China's a lot like Europe.
In a market in the post app pens and make it work.
You know for.
Something bad happens on one or are they aren't union beaches Pcs outside.
Now I'd like to walk you through our detailed seneschal without in the so called her up 2000 to me.
Ordinarily be cheaper.
She was also a potent turns on the sharpest top five hours and ER visits.
She union goals, you read and review our shopping yes.
Jim they increase their top 22% to approximate.
[noise] 48, setting for the first quarter of 2000 and hate from HM two point to come to them setting for the first quarter of 2019.
Pardon, earning fees evil stumbling blocks away she shops in quite a while ago 40 cents on Brian's problems the C. difficile junior Unfortunately.
Marijuana.
Total number of orders increased by 11.6% to seven enjoyed and committed suicide and all the so called her up to something.
From the enjoyed it and 48000, so the first quarter 2019.
Probably only means easy to Orlando to truly unique.
Yeah.
Unions would you wait and see their bodies.
We also know you showed all Shimon thinking you've got some.
So freezer school might be a shotgun only show these targets.
Total young so the first quarter up 2010 paper was approximately one point they loved setting and taxes RMB one point 18.
The first popping up 2019.
I'm really attributable to a slowdown in demand the discretionary spending and the debate logistic service due to the impact of corn on Iris has done it.
On your own easy to woman to show some of them.
Yes.
Well done.
It's really important region <unk> Jude.
Now she shows social who sat down there.
I don't Yemeni decreased by 8.9% to HM.
Right and what in fact note.
So the first the popular since that date from on the 910% admitted to the first quarter 2019, primarily due to the decrease opinion that exists.
On the money these people for minimally runs about any easier new yet.
Union confusing to me hardly Bosnia Mulligan resurgence we are sure.
Yes, we're lucky so hopefully Coleman, yes, woman's Johnson, social circle, we needed.
Gross profit was approximates the and Joey and that puts paid one many so their first quarter of 2010 days compared to those on between enjoyed and that will take a minute and so the first quarter 2019. The decrease was mainly due to the increased.
Uh huh.
Sales to boost at the customer spending has two pitches doing dependent damage.
Only on Monday to do for me looking for young reason.
Yes, well start gumbo nursing.
Junior you reason he argued CEO go down for you infusion.
Yes.
I think you.
Decreased by 1%.
200, and something that I missed a minute. So there's less caught up to something you can take some HM 200, and intend to southern Minnesota first hung up 2000 right.
Now I'd like to walk you through that EMS expense items detailed.
Probably aren't easy to former Soviet Union for younger than <unk>.
Our first one Golden Star done buttons Susan.
Junior influencing the movie.
Yeah, well use running shutdown so they'll she goes.
Going from them.
Yes.
Oh fulfillment expense decreased by 7.4% to HM.
42.3 minutes before the first part on up since I'm.
From RMB, three or four to 5.6 minutes before that first quarter since I'm liking. The decrease was primarily attributable to the Christmas that constitute the children.
Probably running these people.
For years and feel changeover is worth 40 seconds.
She is going to be reason.
Yes.
Sure John.
Since our children so forgive me.
Okay.
I'm not getting past the crews that size.
That was 37.9% to on.
69.4 money for the so called her up to some campaign from on injured and 11.9 minutes before that.
2019 family due to reduced online and offline advertising expenses as well as decreased the dot com.
Finally on anything you do former yes, I feel region Yung Kim she buys huge language holdings on bonds issued it huh.
Julien we view the Navy Yung Kim from by insulin.
Sometimes when you can see himself on industrial yet proper proposal.
Things aren't you should teach.
We don't need.
Technology and dependence about me.
<unk> increased by 19.8% to arm, which implies seven points that met for the first quarter of 2010 days from I'm.
3.1 that.
The first cover off 2000 like the Enbridge.
I'm really.
For me the continuous investment in the technology, how much in order to strengthen segment loss of technology before operations.
On the.
These people formula quality for you when we the movies functions robots are trending over each other on balance sheet summed it up.
Mhm Punchy reason is JV arsalan.
You said you do you I'm doing tremendous other horseshoe functions within the younger things out.
Oh general and administrative expense decreased by 13.8% to RMB.
39.9 minutes for the first quarter of 2010 Hayes from HM.
So it fits on treatment for the first quarter 2019. The decrease was 20 attributable to that decreased a staff costs during the period upside Friday night.
Office them.
Polyalanines easy to form in the Union.
<unk>.
Jim Bob usually junior influencing them.
Yeah.
Oh loss from operations was HM claim that money, so the first quarter up because HM.
Oh, yes income from operations.
HM.
21.4 minutes before the first called her 2000.
Probably harder than you do.
Let me go to you'll find these oh, Okay, let me say HM.
Right.
Julien.
Swimming pools, and all parties, so Uh huh.
HM.
Yes, two devices.
Non-GAAP loss from operations, which excludes the share based compensation expense for the first part of 2000.
15.
No.
GAAP income from operations Oh I'm.
<unk> 4.9 month, so the first quarter 2009.
On the R&D movies Eagle Ford number two accretion.
Yeah.
Thank you.
She reinforces libra.
Q2 buildings and.
Absolutely.
Exactly so there's a net loss of HM 42.5 men. It for the first quarter of 2000 paid in house that net income of 15.8 met for the first quarter 2019.
Following our new movies, you do they make world when Youre positioned itself for health insurance you need for younger increases we've been something Bob I switched away.
Tuning things, you say legal opinion fines or something.
Unfortunately, we feel that seem to be really didn't do you change your restaurants right.
Non-GAAP net loss, which exclude the shares and <unk> expense for the first quarter off.
Because I.
HM.
Like 90 minutes compared to non-GAAP net income off on.
19.3 minutes for the first Hopper 2019.
Yes.
In summary, essentially you seem to do human convince themselves.
So theres no reason.
Yes, so I'm sorry, yes.
So much so let me first at 2000 to date the company had cash cash equivalents and they restricted cash of RMB 700, and that so two or three mehdi.
Russia, one limit yourself to Barclays, Israel pans out as well.
This conclude our prepared remarks, we'll now open the call to questions. Operator. Please go ahead.
Thank you so much babies and had the memory will now begin the crushing and I'm sure session. I fell reminder, if you wish to ask a question purely depresses star anyone on the telephone and the rate for your name to be analogy. If you wish to cancel your request recession Heskey again.
Im sorry in the one if you wish to ask a question and for the benefit of all package, but French on today's call. If you wish to ask your question.
Your management Chinese food logically you get your question in English.
And your first question comes from the line utilization from Macquarie. Please.
You do your lifestyle okay.
Got it kind of how.
For the day, what I'll go into sensors, archrocks, either selling stuff sponsorship for yourself and on kindness again.
One other thing were 10% shuffle crushing god willing to Chicago, when shock or what's your sense. She married I Kinda Clos corruption right size generation Jose Gore shell shoulder talk show with pursuant to our should come out of that you just.
<unk>.
Terrific myself I have two questions.
First one is that the company has and is planned to open duty free shops in tenants.
If I guess one is just allow the current accounting policies.
My second question is that what is a sales performance and do the pace of recoveries after coded for different products categories. Thank you.
HM.
They did it bigger wasn't leadership.
Yes.
Towards outdoor Harlan real money, because they have just that either.
It's always about all her on the bottom you should the u.
It is into July you should they locally pushes fundraising is there's a go dealer.
On the support you don't think airbags unionized yeah. So if you don't call Harlan without any especially pops the issues how that you thought of other techniques.
Well the Golden Star Wars sponsor, therefore people involved.
We will do you find people or something or you have until you're more your Gulf.
Our goal for me and somebody Winchester Threed Holly G.
Due to the could be right.
Hi, there haven't been bought a year ago buying in bulk shipping their together yeah.
No guarantees that whole highlights and that the wonderful.
Good how to have a whole bunch isn't go home.
Well you to build a Joseph Allman, with who will go through that whole did that wants you to though is in terms of the publicity.
Mhm, According to our thing though.
In 2000, <unk> the government a SAP that policy support to facilitate the divestment house here I know they trade pod focusing on <unk>, the actual DTC business off hire them followed by a serious the old preferential merits given.
Matt.
No I feel very optimistic about the mens potential on timing to keep the market and tourism Matthias no seeable future.
As a upsales I felt that forms.
Cool for life production, so it is too high and customers.
Which I know you hide consistencies is the target group of I am Central Park.
Yes.
And then to further extend its citizens so yeah, hi, mens improving the teaching you phrased it needs.
Thank you play shops.
Tell him to be die in the communication with the local government up heitman problems then the other peptides.
Should there be mm mm in this regard the they'll announces officially through a investor relations channels.
Thank you.
Oh, no one's Russell frontier of afraid it into water.
Oh sure wages fashion you lies.
Before John.
Yes, fine for sure Schubert's issues.
Children in school will do so dollar.
Okay.
Your first.
So walk into a dollar so since.
If I was out of here too.
She is stuck with you for sure so.
With all those selfish.
Since our first.
Yes.
Oh, you only need these eagle Ford than Girls club.
Hold on.
One.
Sure.
Properties.
These some Charles.
She shops.
Indeed Arlington.
Yes.
Yes.
See you show.
Sure.
So.
Uh huh.
Sure easier in recent.
Yes.
Hi, Ken.
Hey, Steve.
Yes.
Yes.
So your second question come into our CFO.
Absolutely.
Yes, the global travel transportation and logistics system have soon and as you can access into a series of Navios <unk> I know, there's interest will present the from them.
So far the corner with endemic and has effectively controlled in China.
It's a feels threat.
Some other countries.
Whatever that he can see China, I and assumption markets.
Problem.
The first quarter of 2000, okay. So coach.
Watches and jewelry, which oh, so called pathways accounted for more than 72% of disposal Gen <unk>.
I'm pleased stuff around 60% compared to the first calling her all 2019 out of some time travel and left out pathways.
Was risky affected by the pen Bonnie.
70%.
Year over year Jim.
The first part a of sometime pace and the pace of recovery.
Got it should slow as no.
Tim Thank you.
Thank you so much.
As there are no further questions now I'd like to turn the call back over to the company first kosher remarks. Please go ahead.
Thank you went up in for joining US today. If you have said the patches. Please feel free to compact schools Master relations through the contact information provided on our website Oh, the children's group Investor Relations with information is also on our website.
This concludes the can French called Jimmy now disconnect your lines. Thank you.
[music].
[music].
[music].
Hello, Ladies and gentlemen, thank you for somebody for should go Holdings limited first quarter, It's funny trading earnings conference call. At this time, all participants over in listen only mode. After managements prepared remarks, there will be a question and answer session.
Today's conference call is being recorded I was out trying to call over to your host Ms. Chewbacca Board Secretary of the company.
Hedging.
Hello, everyone and welcome to the Pablo he saw them.
The company called Cool Holdings limited because that's what you shoot.
Yeah. So this is ideal today and I have been made on line.
Download the pass through these and the up to the Companys email alerts that visits and Oh section on our website at <unk> Dot school outcome, but still they told me Oh, founder Chairman and Chief Executive Officer, I'm, not the Sheldon Oh, Chief Financial Officer will start.
The causes that had good luck followed by a question and also session.
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Please note that todays discussion will contain forward looking statement made under that said hobbled police is up is yes, probably at the field is litigation Reform Act Oh 1995.
Forward looking statements involve inherent risks and instances as such the company's resolved maybe majority dozens of them to do it yes today.
Well the information regarding these and other risks and incident.
It's included in the company demonstrations that then well I've lobby and one yes, that's about the yes pitches and exchange Commission. The company. That's now they did any obligation to update any forward looking statements, except as required under applicable law.
Please also note that schools Oh, that's really is.
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I will now open the call over to Oh, Chairman and CEO. This does each I'd be please go ahead.
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Hello, everyone and thanks for joining us today.
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