Q3 2020 Secoo Holding Ltd Earnings Call
[music].
Hello, Ladies and gentlemen, thank you for standing by you for a second the Holdings Ltd third quarter 2020 earnings conference call at the.
At this time all participants are in the listen.
Of the mode. After managements prepared remarks, there will be a question and answer session.
Today's conference call is being recorded I will now turn the call over to your host mid single mom or Secretary of the company. Please go ahead of things though.
Hello, and welcome HM <unk> called <unk>.
I just kept pace or these compares current cool holding that it hits the company's rigs out of what you should the right. So they said earlier today and the happy paid downloads the <unk>.
Oh, the earnings press release, and the up to the Companys email alerts from visiting the hours action the upper West side, I I had thought scoop outcome, but the ricciardi of founder Chairman and Chief Executive Officer, and Mr. Shelton, Joe's Oh, Chief Financial Officer, what's the.
The car of the prepared remarks, followed by a touch of it and the answer session.
Before they continue please note that todays discussion will contain forward looking statements made and though they sit harbor of previous off the U.S. Private Securities Litigation Reform Act of 1995 follow looking the what has the risks and uncertainties as such the.
The company's without maybe materially different from the views expressed the today for the information regarding these and other risks and instead of this is included in the Companys registration statement from at bottom and the top 10 he has accelerated the.
Yes, okay.
The change can you share.
The company, that's not a deal and.
And the obligation to update any forward looking statement, except as required under applicable law. Please also note that schools I mean, the press release of this conference call include discussions of other.
The other take the gap that initial information as well as adjusted non-GAAP financial matters.
Of course earnings press release campaigns because of the Asia. After the UN audited GAAP now I guess to the other to most of the dial that can be comparable GAAP barrels.
I will now turn the call relative to our chairman and CEO Mr. The chart. Please go ahead.
Our GAAP conceals ongoing meeting him at the of Hopper, you Hello, everyone and thank you for joining us today.
Oh My Gosh. There are there are the can't be fungible simple the union function in June from Dom Jim.
Jim we pull the patients are new share doing the Gi pushy or are you.
The.
There you go you are that you don't pop off would you use all of them the Yankees, what's rental going again do the you shoot.
Holding Bob the whole you just your day, one goal, we more sort of holding for foreign cash in the bargain to you.
From a bunch of them or you do the waterworks impact jobs will simplify the junction.
The following a review of the aboard tissue culture Gulf of your mobile phones are the same whatever you.
The one off items and could she led the share is ongoing we can't growth.
So the issue on the China was getting the Mtwom price due to volume, but for the region. Josh on of this is the poll for the surgeon, there's only the jump into the.
The table fusion of the kitchen products of and just routine.
That is day to have maintained the yield of the operation no growth in the book.
Oh two.
2000, Attentate hi, it's Jeff the creates the of 12.5% year over year or two on the bullet point, Tom Selleck supported by or access should know technology task the yeah.
The state of the cloud services as well as our well.
Well established the high and that's my antenna system across the growth they felt ourselves.
Uniquely positioned to capture the moving.
The retail market the other bdcs attempting the from the rising adoption the off on line shops in the aftermath of pathetic.
As of.
Go to the luxury ecommerce platform in China that not just the personal taking the digital transformation for the basket I guess foreign brands, but also providing numerous reliable online shopping the options for our growth number of Chinese consumers will precede the last the out that the.
Yeah, Hi, Bruce Evans from the of the services you have the.
Oh, I'm going ask growth Teekays adjusted brokers of key brands not only all of us to generate universal brand. The garden in the back your E commerce of space at the.
Because of the average of study.
Our consumer.
Evangelize the teachers, Chicago, Boston like cash on gold the whiteboard to confuse the dimension.
Prior to the you're holding two year old of holding theater.
The sort of the area dealing challenges of union of bridging from region are your total bunch of watching something for carbon she's on the deal done yet.
Overall, our tend to income how the union.
Moving up or down tones from all corporate expenses Joey the resulted in of fungible. They saw years in GAAP.
From the both your questions your to the usual condensing unit volume in the hands on gold on we are the only on three for the year before the end function the quick.
The gone just sort of thing what kinds of deals on which of the pharmacy. Your total don't yet cibola down all the time.
Okay. What's your children you show attendees turned on the usages.
On the current European them from how you got me tons on top of the summer amounts of them paying the bent on total open with us.
Nobody is the all the deals that brings our total of differentials from.
From both bring jobs you don't want it gives the opportunity for you. The though we obviously of who is the result fusion line going over there for volume growth put under the.
Separately from the third quarter the kitchen.
Apples to roll out of area of the online shopping festival, including the query Everest re sales that's the role of the July the seventh the type of is one of the time stake pain in August and the Outback offering promotional campaign in September if that's the growth featured.
Lies at the.
Each of the AI, driven marketing approaches alongside or technological innovation and at scale the fashion content the share, which also focus the a patient of yeah.
Yeah.
Artist effort has contributed to the loyalty of or the caspersen motivated them to purchase reported the attack GAAP effectively boosting the Jeff.
The copper.
Additionally, the pool.
But let him the.
Hi, its traditional income or promotion that several of the show that I presume the of the top savvy all of the highly sought after the product.
Hi Tech and efforts to host the age of debt that pace of the offering of wireless Lan services to our customers.
During the day that the GM the from pro sales.
The top salaries are highly sought after product the two step by 40% year over year. The allows through the index pain share now and asked of US each growth out of those smaller hedge your percentage year over year, the all sales or break the OCC and the bulk of eight grow over 30%.
Sure the allowed rate of our intelligence empowered pricing strategy as the advanced the customer services to probably old customers the higher spending power to tape out there every day.
True average transaction value per order.
In June I wouldn't give on the before John you seem options like once you saw woman's adult loans just on the you the teams I should be doing.
Moving and be Fungible U line will mean, you use the flashy, but since the price generally about Europe of of launches.
Due to the gym all of her or yeah wasteful both of them.
Thank you a woman tissues from why are you seeing the emptying out of one should be the total you team has all of the Alco portfolio comprised of the quarter came.
And then probably the liquid I couldn't agree more Tim regimen to growth.
The the issue you can boil Providence issue on.
Oh the visit from her part of the quota share is on the associate home or.
Women of one comparable from her most of the way they say look which is important parts of our goal current the other says on sales or.
In page views on the up on the thinking.
The goal to uncover the China bus shelters each of you should that impact coupons, Jim away from the bundling up anybody Joel.
Furthermore, they have passed and the is driving the expenses and aggregate all of the additions the threat now both towing the or caught back from past the is the high fashion space.
Since the third quarter. This year they have established the direct the corporation is our total all the heads or the 18 when you blend.
Cash greater mouth tie and the agency told us the split.
The mall, we continue to strengthen relations with top rent through various collaboration such as spreads day event hosted by school and the overhead.
You bet.
How big debt expense on line retail market rapid speed.
That show the fabricating from school is not the high end customer base.
Reputable brand presented.
I'd love the technology capacity of the divers of traffic. The part for example of official net packs are legit really maintains the effect of the size of right. So to the brothers is a higher average sales per customer he is.
Oh, that's at the store.
These interactions the available for cheap for purchase the stock the mouse the out of school the high end customers up net sales of Roger video each of the.
Called her resulting in the injured at 9% year over the Crazy GAAP day.
During the call you take what the genius to see junior in the Golden by the team has the gym, Ohio far too much in soccer ball.
Just on the retail multi gene shoes, the dual syk, we can pass.
We do model used to put a chunk of the anchor would bring to the loves the cool too.
The multi centers on share dilution dolce about the yonker function.
I was going to go the gold on the open. He is one of the yields of the go much of off.
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The only thing was to be a ballpark from reported sales.
Hey, Jim Boys and young from where the children shouldn't hopefully the last thing broad scope of work we are doing them open.
The people don't do more of has the the team General current show called on page 13, I do recall when the far behind.
Here's NTM alternate don't vote gold standard option was non core to keep up with the UK.
Well the are they buying is the crashes share.
Sure group the Jewish through the years, Bob Jones, who kind of bagel holding deal young to do is open champion the the Golden joking James.
Moving them all have the new tool with liquidity globally the option the.
Cash flow generally all the you had been from it.
In September.
So from that that the corporation. This bridge on the all time China's most the press TJ is the port debt.
Moving the highly sought after the fiftyth weighted rate multifamily salary available on the cruise the.
The aberration the.
The effective advantage from greater Manhattan.
Not only attest stage of mouth has traditional sales and marketing channel through integrated online and offline.
The also provides a flattening of the purchase chapel to reverse the trend of demand from monetize.
Furthermore, in December the cooler as the average own out high cost of goods offline Mount high promotions that day.
Rich feature of the Oh listen so the fact that requires China to attract the that gather early venture a.
Laura along.
Along the way that he remembers this event the showcase of settling the all day.
Different theories out straight on out I'd card to allow all participants to drive the venture debt the 15th the cultural or a long ways of famers.
China is the club revenue to end the exterior mouth high strength reach me, Jim and Daddy or of course is bearing a factor of high quality line.
Its.
Relations.
2018.
It has extended its high end product for the old tool that average and deeper and created a broad range of high end the core product offerings, including time, just because like line pardon.
He party of alcohol cocktails post the mouth high flying family of platform is a very significant settlements to or at least the core product offerings.
The other women job out the Bush working the initial the immediate came from Fovista Coopersurgical negotiations on the board and the junior equal in the near the issue.
The Bush from volume partially volume then pulled boarded on he had the football although of course that the both of her teachers Union surgically myself in total shy of the.
The surgeon enjoyable Judy you guys because of the bunch of gently luncheon.
You'll also recall the jewelry beyond asserted against all the.
The bulk of course, all your question with Oems going from together and the ceiling you go hurt the border you bought homes.
Good day, we all do for total loans with water to the board.
Overtime from Jim always just don't want to do both of the both of the took the.
But only the keyboard sales with the of pool from.
Do you believe you Bob Barker.
The real cause is the larger sensitive the board put into the can both contributed to the bush from us.
Cash if you sold in the total volume for the Lewis Boil Hall.
He believes he does it become visible to the Rod trunk line. Some of the don't include.
The price of hotels in Chicago, the volume gentry.
Since then the during the years of advancing the more 40.
Use of going through all the good share I want to go together the cool.
Sure. It's all day on June five or so years partial expenses should be a halt the James reported the osha.
Until the one out of corporate I Wonder if you can't use his skill.
Which is about the also of Lucky my sentence about often called the TV.
With that you're planning to try the new that the credit the Oreo force.
The engine, one kind of or the could the board did the over here for full field to tell the coma yonker comedy.
This quarter, the staffed up or adverse flow the repeat of let the retail for the elaborating crude expenses.
Perions is the lab growth that's true along the lives of supply chain advantages the.
Also keeping the or completion with the most the popular social networking platforms, such as the years kind of show took large or or fixing the eco system to support the lesser of consumption.
We set the bar its screen protection eight per line.
Well establish that at the current spacing have koppers as that's true.
The become perhaps not the of twice a day for the lift from Saturday.
That growth.
Through the the base the facilitated the day the broadcast especially of the of the C.
It is the and the broadcast officially recommended by the Act.
Hi show as well as the free hosted by the fleet share as most of our popular appeal out including the assumed the oldest since then that generated the almost the arms the marriage of Jim the.
At the half from who has the rent the midstream and selling assets.
Activities of true a.
The comp profile also.
September the company began to extend the is it's really the sales operations from the old that growth seeks to of Ida range of products the categories. The also.
The cooperation with top tier we're out of the ex the such have floors of how in all its free that's.
It is worth noting that offering a simple.
Library of more than a thousands per day.
Like Europe hurt us well its streaming sessions per.
Providing hit all of our from Hi show and don't use the.
Like flagship of merchandise and the leverage low out hurt us on a reported basis per rig per month.
Now or assets that were raised EPS fashion content marketing strategy of cost of full spectrum of online channels, including the.
Hi, Sean the.
The account is paid out there is a growing from space.
Specifically they have created the number of per hour.
Promotional videos and each was able to attract the over many years of strong indicator of of hot.
All this in sales the and then the promotion.
So from 92.6% of the accident.
Of the eight.
Hi.
Watch the or it's free concessions.
And the Caesars exhibit strong betting.
Got it and solid purchasing power.
The whole I don't just use the Yaki video the bought the portions you touch on the before the Ti Dom.
Thank you Bobby this is the same in conjunction money you don't just wishing you the reunions and therefore, Minnesota images from the.
You know what joining the Golden can talk a lot about the study of warm.
Thank you want the do or the physical buying things seem to be the true about 10 gobank the opposite yes.
Weighted monthly reported he brings all the gold in the southeast you talked about at the lower truncation of Sunshine on the year just on the.
Roger again, the Golden vs on higher margin the teacher, you true about it should answer the.
You can see long term growth of our surgeon what you do the initial thought about the shows the gains over the acquisitive Jonases GB.
He is holding steady at the border to more of Chinese June the both in part of the you don't.
No. So forgive me the kissing yet I found your volume would you go buy something into the.
The call has jumped holding his joining the of the time media.
Of course, the younger chunks of Union from you.
In the following year.
The altogether true.
Songs operating how are you going to join you where you found the floor.
The reason it didn't.
Moving to go higher.
Looking ahead.
Cash to reach come to optimize from.
Mhm services.
Cottage the offers the streams that this is the or car capacity in the supply chain.
The brand issues at Howard the technology of Atlanta net.
And the customer engagement has.
<unk> expenses as a strategy to beat of go through the latter half of the and benefits global cap the by reaching the high end of Chinese consumers.
We'll bring the law that's already a high.
Hi College the global.
It's snap up to meet growing demand for upscale product to the domestic market seeding operating.
As a hobby leases the massive potential of Chinas high of some of the.
The other two credits the targeted shop from.
Net.
For core EPS faster through his average is.
Live streaming production.
Well, let's go right ecommerce to attract more broadcasters to participate as well as increased use of traffic, which will find all the laws that shoppers who is the drive high quality high as part of that answer from them shouting services.
Either stay at home.
In addition, there.
Okay.
Through the last day uses the.
Sophisticated that interest.
Then the productive action.
Merchandising operations customer services and the absence of it services.
This average enable schools true provides the.
Valuable standardized services for consumers broadcasters Red peppers, and it's free.
As well.
While increasing the efficiency as adjusted for life.
Our net debt is higher than our E commerce sector.
Sure I'm in warm in the CFO change our game shows on the way by Dr. Shrotriya. Other you could total phone call.
With that I will now turn the call over to or sample this they're shouting true.
Well, just kind of our key operating metrics and the beneficial is that.
The original Idaho.
Thank you retired as the how low the.
The first you do szeto coordinate Tunisian go to move from food for machine low young children bars ones I mean do the assembly.
One of these in Java and true up I was shopping.
Four months are yielding the only from years $2 from B guys from.
No one really more should again im sure.
Sure the woman, where you're going how the yen the shoes RPM block.
Tons will account for most of the consumer gold swapping the shares on gold and silver issues on the GE batch of during.
The winners will not teaching.
In the third quarter added a recovery college matching environment. The my China. The delivered net income of RMB 2.89, representing a decrease of 200 or the 52 point, that's from second quarter over quarter.
Oh, the sequential improvement in profitability sandals true the.
Of our business model to navigate through market dynamics.
For the net profit to capture the potential China on line.
Hi, ex consumer market in the long run.
Sure. Good question the not just in general on the currently earning in the fancy do GP growth I wish you the.
Now I'd like to walk you through our detailed the financial result from the so called her of sales.
Yes.
On the aren't any differently. The then we change out from low Twentys turned down by the shopping out all of the movie year secede, the our yen Ching intentionally the movie from saluted little yet.
Jim day increased by 12.5% to approximate the RMB four points of selling for the full quarter of 2000 campaign from the three point 66 study for the third quarter of.
As of nicely.
On the orleanians differentiated from being bouncer way you buy you on growth.
Total inbound of on TV net junior informs your way the barley Q1 of the in the total number of others increased by 7.1% to approximate the one point that the metric for the the partner of the top 10 Hayes from around one point stable for men for the.
The third quarter of 2019.
On the hurdling the differently true for a number of things So who is the movie theater in front of the two year children from you in the children per year.
So to your share your view on the June shorter more share children shows you the appeal of our years from India. The.
The G. showed our seems awfully easy Sir John the.
2014 share for June shall restart downtick true.
Total revenue for the per quarter of 2000 campaign was of truck makes the arms.
One point of 37 cents.
And how much of this on the one point that is far better in the so called her off the southern Nike.
Primarily attributable to the increase.
The.
Partially offsetting the contribution from the market rates platform business, that's recognized revenue of.
Net.
And the short supply of some of that we'll see the.
And the sea lice logistic services.
The impact of college Nike Tech savvy.
On the early in the two sons, you do for a number of social trimmed the series and the UK.
For the shutdowns items are situated.
True in income when she wouldn't be saluted, yes to the Ocean showed also who shopped around the use of.
Cost of revenue decreased by 29.1% to approximate the I'm the.
1.4 billion for the so called her off the top 10 pace from RBC.
One slide 16, one set of for the so called her since all the right Fred.
When the 80 to decrease in total revenue.
On the early two thousands you do for minimum volume carve out and the target the fine yes.
June income she can indeed, some of the Archer yeah Molly in the shutdown free also shows you the shutdown.
Each of the chicken retailer to your GAAP coking coal mine, yes form of Java assumption, the social circle of your will either.
Gross profit growth of Trust me the arms.
To ensure that the certainly one of many for the fourth quarter of 2000 and pace compared to the army.
300, and the is.
Just had midnight money for the third quarter of 2019. This decrease was mainly due to the decreased total revenue.
And the increase in the comp.
The sales boost customer.
Customer spending to purchase the September.
Finally on any differently. The four number to use the sales we can be easier bar coding.
Well the shutdown of 'em the Asuragen from junior.
Its union point of view, we the movie ardent from yes of course free and juices T shirts.
Appreciate it.
The crews that say from a 2.3% to on the I haven't heard in the eighties comes out of it.
So the the caught up type of uptake from the RMB three enjoy debt or starting from the metrics for the fourth quarter of 2009.
Now actually true.
The company has items detailed.
On the earning interest from three to four moving for young with the movie.
Each of you by <unk>.
Revenue for the shutdown of items Lucas from junior and point of view, even moving feature Dubai huge learning the shutdown for the Archie you force million from the budget.
The fulfillment expense decreased by 16.3% to.
Total one point that money from the so called her off the from contained from RMB <unk>.
Of 49.94 of the so called off the southern Nike if the.
This was primarily attributable to the decrease of race and the staff costs during the show.
Yes.
On the earnings of two cents you do each.
The show for you won't see the movie in Jim Bob I used the word only shutdown of harnesses, the seeking new junior and punches region.
Yes.
Shutdown of the real young usually comes from here in terms of since our phone calls per units yes.
Feelings from the terrorism.
Oh, the marketing expense decreased by 47.6% to BT 58.1 minutes from for the so called her off from the container from a on the I have enjoyed the n. rather than the money for the third quarter of 2009.
Moving.
The the disease a line in offline advertising expenses as well as the decrease of staff cost.
All in all in in the subject of 4 million property of we didn't do that Jim Bob I wish line, yet poor regions on volumes of body box Junior influence you is among the young children arch line, yes.
James on three of the equals the species job easier the fiber cohu debt.
So the issues she leads to the <unk>.
Technology and content, that's the <unk> expenses increased by 8.8% two arms the.
Two of the 8.5 money so the so caught up but the pace from arms.
The 6.2 minutes for the so called houses up nicely the increase was friendly.
The continuous investments.
The technology, the type of auto to strength or technological capacity to improve operating efficiencies.
On the on any of these funds you do woman the quality of we the movie which is true by each line, yet Cody sanction low by the ships from the huh.
Sure. The influence you is a movie we can't she bought bosh longer term.
Yeah, you bet TV thing down of the horizontal beta teaching.
Emphasizing the importance of base you recall the luxury the usual.
Yup or use from going for use in the yourself kind of within the Taiwan fond of saying.
Or check the right as the new streams of expenses increased by 15.4 per se.
On the 54.1 net.
So the so called her to take from on the fees from.
Okay 7.8 minutes for the so called off 2019, the interest was primarily attributable to the additional provisions of for that that over beach. The company can scale back the factors the assessing the the collectability such as the financial position of.
The better because of the impact of Cordis Nike systemic among others.
Current early in the differently the woman.
For me the Union new ways. The movie is Jim Bob license revenue.
Junior Infantry Union do we the movie she wishes survives Jewish line or income from operations was on the east for the 8.3 money flow. The so called off because of the pace has the income from operations of our HM.
94.5, many fold the of the caught off the top of mind.
Following on from different people.
During the war torn part of isn't just on.
<unk> insurance, you say on the union living within the <unk>.
The tending bar swing of two main points you read the need to change of Irish wind assets.
Net gas income from operations, which excludes the.
Share based compensation expenses.
During the third quarter of 2000 and pace of he says he.
Fine.
And has the on the.
Ah I think side of the 0.59 fold the.
The quarter of 2000 right.
Early on in the season Doodle for much of the wrong way the movie junction box one trillion.
The Union from two isn't easy future of it usually running it.
The recorded a net income of on the syndicate.
8.8 months for the effect of her of Southernsun tape outs.
Our taxes on the the.
The request one net for the first quarter of 2000.
All in Arlington Decently the.
Premium growth, we own part of usage of the shop floor.
Hi, I'm thinking of Julie free on the junior we then the yen to somebody offshore net training into new ways of moving Bluetooth true about teach line.
Non-GAAP net income which excludes.
Share based compensation expense. So the so called her up since I've kept pace with RBC.
The case reports too many.
The parents was RMB 64.7 net for the so called her up from some of the sites.
Sure true early on in the interior essentially you're going to see you shouldn't be changing of Joes jeans shows in changing the way the movie she's the into the year.
As of September sort of his 2010 paid the company had cash cash equivalents and the restricted cash of.
The other thing.
Thank you for that.
The is also on the material change from where you just look out there are two of the.
This concludes the or prepared remarks, we'll now open the call to questions. Operator. Please go ahead.
Ladies and gentlemen of we will now begin the question and answer session. If you wish.
The asked the question for you stressed on the on your telephone and wait for your name to be announced if you wish the count for your question. Please press the pound or hashi free the benefit of all participants on today's call. If you wish to ask your question to the company's management in Chinese. Please immediately you repeat your question in English.
Actually there are no question.
I would like to turn the call back over to the country sort of the closing remarks.
Thank you guys again for joining us today, if you have for the patches. Please feel free to contact the school is.
He's asking the relations through the contact information provided on our website out the chosen to do is asking the issues. This information is also a lot of sites.
This concludes today's conference call.
You may now disconnect your lines. Thank you.
[music].
[music].
[music] [noise].
Hello, Ladies and gentlemen, thank you for standing by you for a second the Holdings Ltd third quarter 2020 earnings Conference call. At this time, all participants are in the listen only mode.
After managements prepared remarks, there will be the question and answer session.
Today's conference call is being recorded.
I'll now turn the call over to your host Mr. single mom or check the jury of the company. Please go ahead of Genco.
Hello, everyone and welcome to the call total southern campaign or these kinds of Com Cool holding Ltd. The couple of it is out of what you should the route.
Our services earlier today and the have been put on line.
You can download the over the past relief and the up to the Companys email alerts that visiting the Alice actually on the upper West side as I had thought school dot com, that's the way Charlie <unk> founder chairman of it and the chip take it that field offices and makes the Shelton chose the old cheap fetish officer.
The other causes the pay Pal, you're not followed by a touch of the and the answer session.
Before they continue please note that todays discussion will contain forward looking statements.
The Endo does the harbor provisions of the yes tablets as the kids is the day shut the problem assets of 1995, well were looking they walk from Heaven. This entity as such the Companys without maybe low to the death of some of the news that the today was the formation.
And the garbage lives and the other risks and instead of this is included in the Companys registration statement of Bob at one of their flock to help accelerate.
Yes, the Securities Exchange Commission.
The company that's not a good add the obligation to update any forward looking statement, except as required under applicable law. Please also note that school openings. The press release and this conference call includes the crashes of other pits GAAP financial information as well as.
They did not GAAP central Meritas schools.
Of course, the only Scott's release contains a they come to the Asia off the other topic that debt now this to you and others most of that couldn't be comparable GAAP net rose.
I will now turn the call low to Oh, Chad, though as the CEO this busy today.
Go ahead.
But the all going to sales on going we didn't give the deal hopefully.
I will watch the thanking you for joining us today on.
Oh My Gosh of are there are the can't be fungible simple the union function when Jim from Dov Jim.
Jim we pulled the teachings and share the old years pushing the are you you are you know.
The <unk>.
Thank you for your that you don't bought pop was true youth, who then the young easing of what's rental going again due to the usual.
And then Bob do a whole loans you should bode Wong go blue more sort of holding for current teaching the fog in two years.
Your family of bundle of double you do the well do EPS impact jostled, while the junction the ball mill, where you're the aboard Juju gold can do the job mobile phones are the go with individual people of homes and could you love the shares I'll go with him do it.
So the true woman Chihuahua, Kim Duncan Hines due to our union, but for the year would you John Thomas is of a poll for the surgeon, there's only the human boots.
The appeal, but he's of of liquidation kinda Kobayashi routine.
That is day to day have maintained the yield that the operation no growth does the caught her oh.
2010 tape hi, it's Jeff they close the of 12 point, that's not that's the over a year or two on the ballpoint itself, but it supported by or assess shouldn't all the technology capacity at the state of the cloud services as well as Oh well.
Ticklish, Hi, Ed that's my teams from across the globe the bulk of cell.
Uniquely positioned to capture the business <unk> retail market the opportunities and then he from the lighting adoption the off on line shops in the aftermath of pathetic.
As a go to let go of ecommerce platform in China that not just the facilitating the digital transformation. Both of after you get the foreign brands, but also provide the numerous rely bottom line shopping the officers for a growing number of Chinese consumers will precede the low.
Yes, the out that each of the high end booth and the plenty of the said it does tend to pull the oh of going after two days of debt. If its full growth of key brands not only of all of us to generate the universal brand of the good news that were covered the space at the because of the average of that.
The purpose of her.
Evangelize the teachers Revolvo apart from the judge on gold the wallboard, she's going to getting into the volume to be your holding two real all the holding theater.
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This concludes the or put has the but there's we'll now open up the cost of questions. Operator. Please go ahead.
Ladies and gentlemen, we will now begin the question and answer session. If you wish.
The asked the question for you stretched far one on your telephone and weight training should be announced if you wish the count for your cracks lease fresh the ground or hashi for the benefit of all participants on today's call. If you wish to ask your question should the company's management in Chinese. Please immediately you repeat your question in English.
Actually there are no question.
I would like to turn the call back over to the company sort of the closing remarks.
Thank you I thought the game for joining US today, if you have for the patches. Please feel free to contact cool investing relations through the contact information provided on our website all day children's group. That's in the issue was information. It's also a low last night.
This concludes today's conference call.
You may now disconnect your lines. Thank you.