Q3 2022 36Kr Holdings Inc Earnings Call

December 7, 2022

Hello, Ladies and gentlemen, and thank you for standing by for the 36 Core Holdings, Inc. Third quarter 2022 earnings Conference call.

At this time all participants are in a listen only mode.

After management's 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 Jacobi IR manager of the company. Please go ahead.

Thank you very much Hello, everyone and welcome to 36 P. R Holdings third quarter 2022 earnings conference call the company's financial and operational results were released earlier today and hope you made available online.

Awesome views at all.

So I believe that we should be in IR section of our website at IR. The 30 6K or the Com participants on today's call will include our co chairman and CEO , Mr talk on phone and our Chief Financial Officer, Ms. Lynn Lake Mr. Phone, we'll start our call by providing an overview of the company and performance highlights of the quoting Chinese followed by English in depth.

Patients must weigh will then provide details on the company's financial results before opening the call for your questions. Before we continue. Please note that today's discussion will contain forward looking statements made under the safe Harbor provisions of the U S. Private Securities Litigation Reform Act of 1995 forward looking statements involve.

Involve inherent risks and uncertainties as such the company's results may be materially different from the views expressed today further information regarding these and other risks and uncertainties is included in the Companys form factors and other public selling F. L. B U U S. M. D. C. The company does not assume any obligation to update any forward looking statements.

As required under applicable law. Please know that 30 6K, our craftsmen and this conference call include discussions of Oh. This is GAAP financial measures as well as unaudited non-GAAP financial measures. So he says parents, earning press release contains a reconciliation of the unaudited non-GAAP measures.

Two of the unaudited GAAP measures and please note that all of them. Nevertheless, R&D I will now turn the call I'll, let you all know co chairman and CEO , Mr. Doggone phone how please go ahead.

So as you put it all.

No not at all.

I mean do you think to you though.

Thank you Hello, everyone and thank you for joining our third quarter 2022 earnings conference call.

Well there aren't any tangible that you can find a full year.

Got it.

What was that that you do have a yoga teacher.

So you want to tell you how do you tie all of them yet, but can you just tell me I shouldn't call them.

In the first quarter of 2020 ensure we maintain steady growth across our business highlight hates my workforce comes up to quarter of profitability. This strong performance and COVID-19 was still happens as macroeconomic Halloween was largely thanks to our dual focus on boosting our influence and look.

And the other one advancing commercialization.

So now you're telling me that that was all open Tricia, you'll have OTT cordless nailer, which I'm happy that are generally doyle issue, though you'll need they usually don't yet she didn't actually do sort of until you really didn't touch with equal so I mean, we're doing.

Oh I'm sorry to.

Oh, you're talking.

As these drove to empower the new economy sector through all of the third quarter, we continued to optimize our sources and build barriers to competition with our content ecosystem.

On the stage for our ongoing excellent performance to start I'd like to share with you some of this quarter.

Innovations and brand influence in commercialization.

Youll do the NATO and Kishore just your usual matures, you're going out to eat it sounds like what you did you say you know would you say most of them do something there when he talked about full they often kind of yes, I'm cookies I shall I don't believe you somehow.

Well he was alto, Okay got you talking to you in jail I'll call them first let's look at content, we are committed to creating value with our high quality content and is the cornerstone of our developments and powerhouse that's bolthouse continuous expansion of our brand influence those sorts of our content platform strategy, we still forecast on P. J.

You see in New Jersey, we have enriched our content offerings and creating a multidimensional content ecosystem, comprising pan <unk> Pan technology, and Pamela have content.

Then as usual well I'm curious how much runs out of them and go slow down and told you that was all good sushi box you called it out from school you don't talk on behalf of telling you that you don't want them and they know if obviously you did call. It out so everyone's asking until we'll watch runs out.

And you do not talk him home and Tom you might want to hang Seng Council to get there.

You go into the timing of a few days without totally bajaj, you'll do the same.

But he is not going to looking out the window.

And just what are we convenience you produce engaging professionally created content.

More of our articles with over 100000 page views climbing to over 155 among them several articles on Pam business and panelized topics triggering heated discussion driving tv's up to 300000 and even beyond 800000 in some cases.

Several of our original articles Warwick mandates by which has top stories like these in the third quarter, leading to a daily page views are overwhelmingly in sports several consecutive days.

That's right.

It happens you do Shindo Postheat I didnt count without in golf, you've actually runs out.

Plenty of companion triggered some 18, you're trying to do would have to come all at once as I said, Nevada, because what happens is you talked about children shareholder you got cut off. So you don't have to go home and that's why I'm, saying all the O'connor two I also like to highlight an insightful article written by always things every market's them into sort of course are tied him a blockbuster which generally.

Your boss and over 800000.

Furthermore, our branching award until something media outlets 36, carbon launched only six months ago achieved nearly 200000 views with his in depth knowledge of I hope law catching it all it's off to a flying start reached significantly boosted our visibility in the carbon sector.

So when you say Moshe is that when you go to.

Hopefully you can talk to you.

Decided to cold and don't have one housekeeping anything you want he doesn't know what you're getting in terms of the Ohio, and then couldn't walk with him.

Oh, I didn't know what could all come to the country.

He got to somehow you don't go to kind of economy became hopefully as well as for our UGC mono we implemented a breakthrough innovation that's it quarter by optimizing operations, Florida 30, 6K, our obsolete East Coast feature we established a discussion forum for our short content, creating a self perpetuating content creation circle, they're supposed to do.

Core user retention will also draw your attention Andrew responses to our call substantially reinforcement user thickness.

Political Linkedin, who shows up and get them all because he got here now in July it sounds like you didn't you weren't the only when she was a child well medical market was in a heartbeat, but have any of them in Philadelphia to name them going out and talking about how she'd only you took into account wage once you get home. They don't have you done right now in talk with Wanda Sandoz.

Kind of what's actually changing it really doesn't have much impact Oh go.

It seems only gone out accounting down are you canceling out talking to them you know kind of what's actually being I think I'm gonna to homeowners.

You May have you changed at all you needed unquote.

Excluding Honeywell shortened playoffs, even though you didn't tell us with Engie change opinion defend your group doesn't mean champion's visual equivalence, yes, that's right. So you don't actually need.

That'd be another shutdown and you share the tornado watch what you can tell me if you go to Hong Kong with agile and essential all wore in growth of hacks and graphic talk radio com as one of our most effective tool for increasing user that wants to me at least fresh vitality of our short video and live streaming content you end up with her.

All of our short videos, achieving over 1 million streams among them all original content on the topic of the choose about how hospitals make money more than formulae. It was unbelievably ambitions. So I guess, it's they always have to go with my daughters, and one cooperman, though China content marketing, a worst voice Atlas and content production and dissemination.

Lighting that industry, a coordination of statistics chaos original content generation and commercialization capabilities as well as our brand influence and after third quarter of this year. The number of our short video followers exceeded seven point formula among the Indian Ambarella power followers, and Billy Billy surpassed $1 5 million at the end of October .

Making us a leader among institutional accounts unbelievably.

I mean, what I'm going to ask you. So you did not cause any bumps you're talking for them to fully automate all you seem happy that he doesn't want to watch what happens.

If you don't want I want to assure you that he should be a whole bunch of metro long haul so what else I don't think so.

Regarding left draining our news watch N C O tips programs continue to pump off price content. When he was in a continuous stream of high quality reporting with car ratio of new topics together. They cant believe hit 25 left screaming sessions in the third quarter normally used to watch established cooperation with Leach have video accounts to launch a specialized column.

So I think on your reporting to number of stream generated.

Especially as you mentioned you expect your medium home here.

Oh I'm sorry, Yeah. I was just you talked about you can't get it opens up and he's a little Monticello 10, Oclock Onboarding that you kind of look at again, that's really just hopeful surety bond with docs who've got more than what we've had to teach them with him P&I who's going to tell you about and that's what onto yet you keep up with him.

No don't kick in until the people attending the meeting.

You can watch a placebo homes, yet can you until I guess, there's a couple of weekends. So the way that you want to pass you to hold until May two kind of shows you that you couldn't do before you put out here, but how should what are you going to youll, just clumsy it'll be time I'll be able to do.

Beyond our UC studio M. P. GSE content, we also explore data accumulation community operation during the quarter and leverage our experience in primary and secondary markets to launch does that his six there are venture capital platform. This platform come to life, all with anytime marketing resources to continuously empower early stage projects to secure financing.

That's all for now the platform has a clutch of walks handheld in start up companies and over 1500 institutional investors, including such big names as matrix partners and Salon ventures with 1000 weekly collections facilitated on average that's the thing you can go it's fortunate that you're worried about 30 6K, our venture capital platform on both sides for us.

As we expand beyond the meter surveys to data tools and founding facilitation services enhancing visibility and exposure for high quality star up companies and collecting to embracing vouchers.

He sounds a little name associated with them one of those answers yet.

Once you do that you don't think.

There's always somebody go down, but I missed if I didnt feel sure that kindergarten Kid runs out of nothing.

You wanted to touch on two of them.

And then final housekeeping on the Chinchillas equal to have sound. Good ammonia was I'm kind of walking that power, but I think I heard a.

As of the end of this quarter at the handoff, all off all or a squirrel by 18, 6% year over year to $26 7 million. We have also noted it's called system improvements in our brand influence and user attention.

Laid a solid foundation for our commercialization initiatives with that that's not her to the commercialization progress of our main businesses.

So essential in the volatile tell me something about gosh, it till we hit a home run.

Oh, well shut off and that's what I was going to go tell.

So I'm not sure if all if I can just how do you hook in Juarez and Tijuana digital causal tell me something I don't know if you cause I'm not even sure teams with your tricky.

First our advertising revenue increased by 20% year over year powerful evidence of brands appreciation of our in fact, two brands and marketing thanks to our continuous always innovations coupled with our CSR program seeking to launch the number of our customers rose by 20% year over year about a pool, how society at last year's level indifferent whether.

What was that for all your citizens.

We'll go because you've not been that long ago.

So that's going to cause any of them yet.

China shipping Sheila could you.

Yeah sure didn't Johnson with him tell me something I don't point out to all the students teachers and achy holding those.

Because you're going to file I don't totally how'd, you bought them, but don't see at all and what you can ship you might recall that the warehouses, you'll try and harsh I'll put that to me suggests that sends you to look at him a frugal.

He probably can don't Jordan Piedmont associated with him.

See we are using that that'll give us a little.

We continue to create new advertising content, that's where my support brands targeting C and consumers. For example, we made a commercial medium for hybrid hybrid electric vehicle entitled the truth about oil resource depletion, finishing our fresh perspective, this power and Youre in short video one raves from the customer or.

Vertical self media outlets or you also continue to gain brand influence Earth genius commercialization potential that collection content formats around various channels, including tax graphics, I'm not screening or use kind of a few the varied needs of our diverse customer base as for commercialization multiple well known companies, including I E.

Jim Don and Zhou who became repeat customers in the third quarter.

Stablish new collaborations respond ways.

Stop VR and other new economy brands.

Yes, just kind of how the doses are that and he says I am sure well I mean, I know hired a couple of years.

I'm talking about wholesale as usual maybe trouble troubleshoot here. She said you can work out here that don't even go to kidney problems.

I'll just turn it over to you says I have went out.

Sure.

The only time you shouldn't you probably don't know what you can get hold of kinship Chinese they opened up a lot of work as you can't have a hold on him.

Ooh hopefully knock on wood the type of feedback are there.

Starting in the new economy sector is a key differentiator.

I'm on page four so do you just pay off we also continue to innovate and often.

Our service is more traditional industrial customers for instance, we established in depth cooperation with desktop to operate their brand strategy in preparation for their new product launch, but skillfully integration product has seen a similar products with our detailed informative industry specific content, we have stopped the master strategy will be.

Coming of World Class Chinese running shoe brands. These collaboration warranty in depth industry content product videos, and our product launch with a fourth spores that his experience and represents upwards, hence neutral yeah, I'll walk us N O for empowering traditional consumer brands, we are confident that as we continue to refer.

And enhance our services, we will attract more traditional brands seeking are influential and creative partners in your marketing strategy.

Thank you Jimmy and what they may be in Germany to you. If it were to occur and then when you tell her time in troubled times I don't see a meaningful San Jose Antonio will answer your question in English.

You're right.

Can you just handicap what people talk about so.

So you were talking about the listen useful, Pennsylvania, Chicago I told me he got a law, which I don't want him to yeah.

In addition, we recently entered into a strategy cooperation with future car, a leading north American media platform focusing on the automotive industry through authorized content sharing and unusual commercialization supports the two parties will jointly tap into opportunities in global new energy vehicle sector.

This marks an important expansion of 30 6K, our global business footprint during our media network and our commercialization post packs in the North American market.

Oh man.

What is your and sometimes I don't really know how its all going towards the type of level, we all get out.

Okay.

Well the tissue you're penetrating thing John .

Once you're on mute Julien.

You can call you only I'm sure. He gives you because you don't do anything with it especially as you. When you came back when you're trying to give me a whole bunch of hotels are just not yet.

But he told me you think what do you mean hygiene.

<unk> kidney causes going through.

You don't have your alcohol.

Once it is he wants you to when someone who we got it all secondary market products, we came up with what hi, John Securities during the quarter to share our insights into the real after industrial current situation and future investment trusts. So the statistics are kept to a pie program.

Shall we established partnership with renowned companies such as Neil hopeful about Doctor Lima media and chance here chip whole lot empowerment. So it says in market value management and brand management also apart, sometimes it's that's where our cell phones have to only market business. We set up a joint venture in the third quarter, we used a well known U S financial media company capped.

To watch going forward that the G V real focus on offering a marquee value management services for Hong Kong listed companies.

And she is under food Oh man and he enrolled until you see how long you should have heard a bunch of people to go to a pool. There was hardly a lot you can do it yourself.

T H E T cells will go with I don't have the total because we cannot I'm just going to cause us to lose all the positive.

Turning into rather at the enterprise services in this quarter, we continue to provide high quality services for our clients by integrating online and offline formats to mitigate the impact of COVID-19 on their business. As a result, we've established cooperation with more enterprises and comments clients, increasing our number of customers by 26% total revenue from this.

Segment also increased by four 7% year over year.

Yeah.

Rental market went down.

They are somewhat unique in its own way.

Well I don't know shrunk to hear your thoughts as you go.

Although as you know you realize signed up because sometimes you come to Chicago to reach out to.

Your final question to leap into it you use you can indeed hopeful she has been a hot because you didn't know you guys had kind of said you should look on all of them when they use a lot of them go a bunch of songs image would eat out or they are.

Can you draw that line.

I'm not sure what you're also going to help you know you have you.

Yeah, well I'll share. It can you just add a quick hail claims OTT channel I'm, sorry, So I can see you know sometimes you guys had thought of doing so they told me that he didn't talk about it doesn't at all.

She knows how good he wasn't blowing out and tell the story.

Well no perfect Science was the heavyweights I T Forum hosted ink for the Tampa Lee in 2020 to China from Pioneer summit through our communications, we imagine a number of start ups and investment institutions. We have developed a deep understanding of both the current situation and future I'll look up a broad swath of industries, we capitalized.

All of this advantage to analyze the key factors impacting the development of IV pumps from industry policy and market perspective, helping local fostering deeper insights adapt to changes and capture opportunity in his in the new investments Aero innovation, we concluded our wise new economy Keyless conference last week with long China alone.

Asian as easier thing when you much it I'm in the new economy professionals, including entry putting their washer economies watching you and Charles Li shall Jam and reported on a form four more chief executive of the Hong Kong stock exchange to conduct in depth discussions with trending industries are the rents which are truck total exposure exceeding $4 five.

Billing across all my audience.

But now it wont drive the decision.

He is under four you're definitely Hugo which was if I tend to like to show how high you don't have to lead to a high end gilbarco. So he says uncle Sam.

Your bedroom Tango Shenzhen Hangzhou with symptoms. What are you talking with you want to give you any kind of baidu because he'd tell don't budget them without any penalty for the household.

Especially I think you can hold me.

Well the couple of times about cohort even done their own Oh, Wow, having a problem with you.

Would you go sorry, Arne and it turned.

Hey, how're.

Javier do you want to see people with having them for.

As usual with me, causing me a whole bunch of torture, telling me about how you play at home.

What I didn't count them without doing anything unusual this year.

Digital will help your cause classroom offline activities, we continue to make strides with our consulting services and value added enterprise. So is this in the third quarter for our consulting services. Our 30 6K, Our research Institute continued to deepen its industry insights and publish compelling industrial research reports.

Yeah. This is Brent incidents during the quarter, we expanded our customer base with additional government agency customers in Beijing, Chengdu, Shenzhen, Hangzhou, and Chongqing as well as renounced enterprises, including then they won't buy buttons and PNG alleyways.

Its commercialization as for our content operation agencies always says we continue to explore content services modernization and standardization of our app to enhance our service efficiency and quality at a barmaid developer conference 2022, 36 P. R was granted the excellent technology content upon their awards.

While providing agency operations services for pharma as browsers. In addition, we attract new partners and established collaborations with various dominates financial institutions and enterprises, including Shanghai Pudong Development Bank human food and onetime securities. Thanks to our high popularity and.

We are allowed to word of mouth effect.

Yes sure.

Did I hear where you're traditionally hasn't done well, but you shouldn't have a stronger book well, Guangdong Sichuan towards him counsel downhole base in Houston, and Charlotte, who can shoot put on.

Cause you to want to coal.

She has done couple of Angel clean more questions on that.

Because I've got tell me if you don't have to do what she was wrong.

Well tell me if you don't have to go through each country. So sandeep.

Kind of continuing that hydropower to catch them all.

As I always am Jeong. Please in terms of that particular someone sitting on my left to sit down with them. So we're trying to introduce Dave you have any thoughts on your G&A Shanghai, She moved times with us.

You can go about it.

At the same time, we continue to make progress in our regional business expansion.

Your headquarters in Beijing, Shenzhen, we focus on expanding our presence through our plus four regional offices in Guangzhou switch one transceiver junk food with young will be Ashok Jain alongside growing regional customer diversity revenue from enterprise clients is also increasing rapidly with our pricing by more than 50%.

And the contract says that over 60% year over year, I think melco enterprises through our client Rooster has improved the balance of our governments and enterprises clients clearly, reflecting the effectiveness of our lower tier market expansion strategy, notably our regional office in Jiangsu often have a sports live events during the call.

Or establishing a benchmark as we viewed regional influence of our watch constantly and explore regional commercialization opportunities.

What type of Altra deal does not go down.

When we say that because I'm trying to get a default or what are you can talk to how much will go to somebody who's going to talk to you. Some views once it's absolutely I'm trying to put off of what you've already got a hot issue. When you don't remove the popularity of naval Krishna you Antonio.

So you couldn't because you've got to watch that but that's a whole comparator.

From time to time.

With respect to our subscription services on top of all works 18 traditional courses, we upgraded our curriculum and plenty of our customer base during the third quarter, we upgraded funding acceleration camp and partner with well known companies, including Microsoft China Antimony ore to provide internal training as we build out a copy.

Its curriculum subscription service will bring us more commercialization opportunities going forward.

Yeah, I was telling you that I forgot to alternative lets see if we got an empty paradox isn't that.

So as you can tell me what you mean.

It's only because you told me sometimes when you can't ship potentially the agenda you tell me what GDP is going.

Just this year.

Does that have a multichannel so yeah, it's an entre to dividends even today, if we don't talk about them yet.

Then he showed you on the line is that the whole house, you're talking you're saying.

Okay.

Yeah.

Next I'd like to share our latest accomplishments with respect to our enterprise Somebody's review platform. According to northeast secured who stayed on the digital economy has become a key driver of China's economy development accounting for 40% of China's GDP and rising we presented our second growth engine and our commercialization breakthrough.

Peso as review platform is dedicated to empowering the thriving soft industry in the third quarter. Our enterprise service revenue platform reported exceptional performance across multiple operational operating matrix as well as rating as well as great progress and functionality improvements user acquisition innovation and.

Commercialization.

Two it anymore, so what you've got.

Thank you to what your cost was under <unk>.

Total Charlotte hopefully you got a job potentially thinking for that in Colombia on tissue, but below what that.

I'm not sure how much you can say about quantum correct. Yeah competition will have no residual because I'm not sure that we can continue to hinder some economic just somehow it's Bob.

First the Enterprise service review platform maintained rapid growth and is operating days huh with monthly active user rising more than sell fourth year over year to exceed 1 million. The number of authentic user reviews also searched worrying about almost 10, four year over year and 54% quarter over quarter.

Fix it with T cells, and we showcased award 7300 pieces of mainstream software on the platform this quarter up 59% year over year and a number of more chance on our platform is now approaching 1000 up 328% year over year.

So if anyone knows how she was going to use on Jim I mean decent somebody like usual.

How does that change at all.

And especially as I'm sure you don't know.

What it means to you.

Once you go to infusion itself won't be a huge content being pushed out in Chicago.

When he was talking to somebody you don't die short Union.

What does he or she is important.

Don't forget we don't call checking out your parents evaluate that.

Yeah.

Regarding product functionality improvements is on the underlying data sell their products, we viewed our labeling system for software devaluation, along with a renewed by choosing our pathways labels, which improve efficiency and effectiveness in the meantime, we upgraded our risk control system for review by myself.

<unk> to inquiries for authenticity and reliability, we also elevated hits buyers experience by enabling profiles that really on the H five page of our App. Finally, we revamped our business portal in the Baidu mini program, leading to peak daily unique visitors of over 5000, just two months after its launch.

Yeah.

And he was talking about because usually you don't Daniel how are you going to do about.

T G I.

But you can kind of let you couldn't do because once you've always seen in travel it's almost over.

And as you know sure doesn't opinions.

Michael disposal, Hawkeye, who wishes on that potentially the highest Huntsville pencil high as it goes on when she talked about dual articles was having a job. He gets a lot that you could address kind of like if we didn't do it.

You, usually don't see in Pennsylvania, or Youtube, but he will try to handle it we talked about with I can hit all time highest Fisher College, Jonathan that's accurate.

Uh huh.

Josh I'm, Don I don't know a lot more to go to China do.

It's interesting.

That's where all the innovations and customer acquisition in addition to continuous.

Optimization of our consumer profile system and ground promotions in various regions. We launched an exclusive alone enterprises always team party onto enterprises always review platform. We invited exports from leading enterprises are proud popular in those rates with an interest in digitalization such as Katherine in neocon.

Option to explore industry solutions and real industry scenarios.

Once the plan participants understanding of digital transformation from a practical point of view. Additionally, we strengthened the content capabilities on our enterprise so with reveal platform into sort of quarter by combining professionally generated content and enterprise service review platform products. We say usual centric approach we are loved the unique value of <unk>.

Contents and kind of industry trends and forging connections among professionals globally through our <unk> gross dialog program and digital growth program. We focus on rail business cases, and also I think if you use a review to E. Two.

The user experience and commercial value of enterprise products from your this perspective.

So English.

Oh My gosh. It goes in the kitchen with you. If we didn't do you can cannot tell what's going on he can have essentially you should go way down here. They have the time that all the time.

Sure Bob do you want to know shutting jobs, you don't care, who doesn't have has gone here. So hopefully you'll tell me cancel.

What he's out since you're hopeful that you didn't have that.

Because it seems like even though she's all blocks here you go.

Okay.

And the other one specific thing that you don't have all the time.

What I will do something.

Sure.

Jimmy touched on wholesale.

Could talk on the tour.

Right, Okay cool pool with a huge issue all the way what do you mean really cookie, which is one of the junior side you talked about it here on the model three wholesale that you don't use it goes onto your favorite people sitting in clauses in them.

That's the lever also made significant strides in the commercialization of our enterprise service reveal platform to date, our enterprise. So it's really a platform has received orders with a combined value of over RMB 10 million. It has also established strategy cooperation with Lenovo a fortune global 500 company to provide in depth marketing services.

Lenovo F&B unit, specifically leveraging the data we have accumulated via the enterprise so with reveal platform, we de lever a valid marketing qualified leads and assist Lenovo SMB units in process customer acquisition. Meanwhile, by jointly developing a program for specialized sophisticated differentiated and innovative.

It needs to acquire a massive traffic from small and medium sized enterprises, we have interest will in L. A powerful new tool to enhance their brand influence. This collaboration marks an important milestone in the commercialization path of our enterprise Somebody's radio platform and a benchmark for future cooperation at least more real.

<unk> companies, we have established a either a benchmark cases through brands promotional flour mill in Sars lenders, such as tissue Hot pace with technology and baptize Dot Com building a flywheel for the enterprise so as radio platforms for IP growth.

We've already gone digital coupons anyway, you can come for you. When you talk about how you kind of a high end and nobody's going to kind of close out anywhere from that 40 here kind of hockey show, you'll have them because you got a shot.

It opened up at your door to go with US how we should hand Palm Beach long ways with some top <unk> sort of negotiating right. So it goes with you I can honestly say that kind of cookie, who doesn't who came back. So he should go towards things seem to change.

It won't be causes them that Shanghai.

How long it takes us almost Idaho power that can English as I'll show you. What are you going to tell me. How you shouldn't you shouldn't have taken long haul Shimon components Andi has its need to use methanol yet although he tells me and talking to others at Ya Li.

Looking back at the third quarter, despite the COVID-19, resurgence and some macroeconomic challenges that still weighs on everyone. In the industry. We remain focused on optimizing our content ecosystem. So it system and operations. While also driving our commercialization. These efforts contributed to our encouraging financial performance in the third quarter.

How long is used by our double digit revenue growth year over year and a profit for the fourth consecutive quarter English and companionship breaks new ground with our second growth engine. The enterprise. So it's really a platform and they leave watch rabbit improving operating matrix M. Daily commercialization results. Looking ahead, we will continue to hone our when they come compared.

Advantage to maintain our business vitality and resilience riding the wave of industry operates in digital transformation, we will unlock greater commercialization potential and explore new growth Avenue in the new economy sector to pay them to create more value for users shareholders and investors.

Washington Gold in this half of it and I don't want them and just also how long do I brought him with that I will now turn the call over to our CFO .

I will discuss our key financial results. Please go ahead.

Thanks, Paul and Hello, everyone.

By lingering challenges in the external environment. We are very pleased to have extended our strong growth momentum into the third quarter was another quarter of double digit top line growth alongside a 11, 5% year over year increase in total revenue was notable.

Notably our advertising businesses continue increasing 20% year over year, while our enterprise value added services also recorded solid growth of 5% year over year.

In addition, thanks to our consistent and in fact, it efforts to optimize our cost structure and operating efficiency.

Profit margin and operating margin both improved year over year in the third quarter 2022, and we delivered our fourth consecutive quarter of profitability.

Our resilient diversified portfolio of products and businesses bolstered by all content capabilities and multinational ecosystem, absolutely positions us to achieve sustainable growth and generate long term shareholder value as we move forward.

Now I'd like to walk you through more details of our third quarter 2020 to actual results.

Total revenues were RMB, $94 6 million and a good quarter of 2022, an increase of 11, 5% compared to RMB $84 9 million the same period last year.

I haven't had any services revenue increased by 20% year over year.

M B $63 9 million in third quarter of 2022.

The increase was primarily attributable to more innovative marketing solutions, we provide to our customers as well as proactive strategies, we have adopted to navigate to the challenging environment during the quarter.

Enterprise services revenue increased by 5% year over year to RMB $23 6 million in a good quarter I was trying to buy too as we continuously and proactive lazy biopsy, there with new enterprise level services for our customers.

Subscription services revenue was RMB seven one unit in the third quarter 2022, compared to RMB 9 million in the same period last year.

What's primarily because some of the offline training programs were canceled or delayed due to the resurgence of COVID-19.

Cost of revenues were RMB 35, five minute in the third quarter of 2022 compared to RMB 27, 3 million in the same period of last year.

Gross profit increased by 24% year over year to RMB $59 1 million third.

Quarter of 'twenty, 'twenty, two compared to RMB $47 6 million in the same period of last year.

Gross profit margin was 62% in the third quarter of 2022 compared to 56% in the same period last year.

Operating expenses were RMB $62 1 million in third quarter of 2022, a decrease of 23% compared to RMB 83 million in the same period last year.

And marketing expenses were RMB $32 2 million in the third quarter of 2022, a decrease of 9% from RMB 75, five minutes in the same period last year. The decrease was primarily attributable to the decrease in share based compensation expenses and marketing expenses.

G&A expenses were up.

One 6 million in the third quarter of 2022 compared to RMB three 9 million in the same period last year. The decrease was primarily attributable to a decrease in allowance for credit losses.

Research and development expenses, RMB 13, 4 million in the third quarter of 2022 compared to $13 nine minutes in the same period of last year.

Share based compensation expenses.

And cost of revenue selling and marketing expenses research and development expense net of large G&A expenses totaled RMB, two 6 million in third quarter of 2022, compared with RMB $4 9 million in same period of last year.

Other income was RMB, five 7 billion and a good quarter.

Compared to RMB, one 5 million in the same period of last year. The fluctuation was primarily attributable to income generated from write offs of accounts.

Accounts payable in the third quarter of 2022 after the company fulfilled all applicable notifications and other risks eliminating barriers.

Net income was RMB, two 5 million in the third quarter of 2022 compared to a net loss of RMB 31, plus one meeting in the same period last year non-GAAP . Adjusted net income was RMB five 1 million for the quarter of 2022 compared to non-GAAP adjusted net loss of RMB $26 4 million in the same.

Period of last year.

non-GAAP.

Net income attributable to subject six chaos ordinary shareholder was RMB one seven meeting in the third quarter of 2022 compared to a net loss of RMB 45 minutes in the same period last year.

Basic and diluted net income per share and part D. S. What RMB one two cents in the third quarter all of 2022 compared to basic and diluted net loss per ads of.

Of RMB 70, 414 cents in the same period of last year.

As of September 2022, the company had cash cash equivalents and short term investments of RMB 164 million compared to RMB 194 point swing meeting Azerbaijan something as 2022.

It was mainly attributable to net cash outflow from operating activities as well as certain long term investments in several yield common startup companies. We've made in the third quarter of 2022.

This concludes I'll I'll walk prepared remarks today, we will now open the call to questions. Operator. Please go ahead.

Okay.

Thank you if you wish to ask a question via the phones, you will need to press the star key followed by the number one on your telephone keypad.

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 in English.

To withdraw your question from the question queue. Please press Star then two.

Once again that was star then one to ask a question and at this time, we will pause momentarily to assemble the roster.

And our first question will come from Pat take you of industrial Securities. Please go ahead.

Hey, Holly.

Okay sure got any time go Morgantown juice, your mothers or your gym clients to Cook, who don't yet know what Japan, the davinci not sure Glenn usually didn't see no among technology sure. She didn't shingles C issue.

The deal was announced you Jim.

Hi, Brian John but not.

Did you do it you can do to Jean Jacques.

Igo share our Sanya and they go I'm showing you what might be insurance, you should remember that shrunk that even I don't want people, who can chime in yeah, Moshe and Jon can you talk to each of Groupon with younger I'm not going to cleanse out yet.

I will translate my question. So we've learned from your financial report I'll be enterprise to review platform. If we didn't see a drop.

Rapidly across multiple operation matrix down could you share with us more about your like monitor monetization timeline for this business in the coming years and more about it in the long term strategy.

Just didn't change thank you.

So looking at different things.

Got it.

So now you'll say Oh, I'm going to talk to you.

I'll throw out a degree English would you what would you for Diageo Haulier Hall.

Neutral down and I'll show the potential do you keep all the doors on asset on our books as I Hope you all talked a little on that.

Only as an add on to sharp Asia to Hawaii.

Yeah, typically if this would happen in a couple of shipping.

Total Whatsapp Waddell Huffington off afterwards.

I'm not sure if you guys have airplanes.

Tell me if you don't have as much as you would have without and he can give you an agenda. Let me follow up on just some asthma.

At the beginning of this year, we have been trying to optimize our enterprise video platform operation and explore how.

Commercialization of a trend here.

Our operating later or enterprise service revenue platforms.

Finally matrix all impulse rapidly you're over here, including monthly active users.

Daily active users oddly nemeroff railroad deals and the number of pieces of software are showcased.

All Europe , although year over year basis of enterprise rates previous platforms grow by or halt or to exceed $1 million. The number of thrilled with your increased by almost 10 for you all year at 54% quarter over quarter or see you saw that we also showcased our war.

1300 pieces of mainstream stuff were up 59% year over year, and an emerald more chance all of our enterprises with Riva platform approach 1000, a year over year increase of 328%.

So she will have on their own.

It sounds as though you didn't have that phenomenon hopefully you because I've already yeah.

Without that shows dividends, you're saying this is how you found that it shouldn't be.

In terms of commercialization, we established collaboration with Lenovo in the third quarter to empower their customer acquisition and brand Benjamin.

Marking an important milestone in our enterprise service offering our platform commercialization path.

So that Oklahoma, Illinois utilities as you know the financials as you can get to I completely TV it was awful.

Yes, hi, good to talk with potential you get along with Ono.

Because it's unusual to you.

Jim do you have what's happening here for Ya, who do not use your children will have a high retention level.

Thank you Manuel.

Okay.

Government kind of in the hormone sensitive Patrick.

Sure So long time washes out.

Oh, Hi designs, you hung on equal equal time do you have been going on with downstream for Chunghwa Alberto's usual convention out in June .

And the high horse here, but on Keystone with Cabozantinib.

China was all for me.

Can you talk about the economy generally there's an opportunity to contribute to the hotel.

I was wondering about you don't want to go.

Moshe.

<unk> kind of offering.

Regarding our Fisher Plaza.

Leverage that Susan made how all were under pressure as reveal platform two cohorts more or less for the delivery. So for the next quarter, we will in Israel.

New product function, we will continue to collect this railroad deals and combined basic product data expert opinion to issue a personalised industry selection reports and product comments reports will help users make crack selection is serious we think this will highly improve our service and also.

Improve the value of the commercialization at the same time from the perspective of SaaS providers will continue to enrich our industry solutions.

Industrial space <unk> space products and reach out to decision makers by various means such as product functions articles life broke at salone, a turbine forming industry consensus isn't helping to improve the efficiency of soft product selection with respect to commercialization that will continue to build a bear.

Market and extend our collaboration model with leading well known enterprises, such ethylene I wonder what kind of entry into more enterprise of Brighthouse analyzed commercialization mothers and expanding our commercialization and scale with maximum efficiency.

So as of Wednesday morning, Joan and I was looking at in our soft tissue based analysis now.

So far two subsequent to the final maturity.

So the traditional flu heartened to see who is holding on R&M.

Sure.

Oh, China.

Corn umbrella trying to redo it.

Union issue to talk on them, so Yokohama going on.

Qunar Cleveland, Ohio.

How are you.

And in Shanghai <unk>.

Awesome.

Also for the macroeconomic <unk>.

<unk> on the 20th CPC National Congress has also emphasized the importance of personalization contrary to popular perception alcohol, 19th flare ups has actually, especially if any of the developments of SaaS companies as more holistic digital transformation. So.

We expect that.

If we have more focus on the functionality of enterprise. So that's there.

Radio platform in 2022, and we will assume a.

A very high growth compare comparable to the 2022 of the commercialization for the year of 2023.

Okay. That's all for your questions.

Thank you.

Yeah.

The next question comes from link needs out of S. W. S. Research. Please go ahead.

I really thought that Oh actually yeah, okay yeah.

Yeah. So what are the key that are now that you own young girl than T. D that you feel warm he kind of motion gourmet because it'd be choosy eating junk.

Its I phone Keilar no what's wrong. He tells you should go to unusually cold Tonight here with Centel say eating some kind of hold that someone's on E. Z go no woman do you guys see you put the phone Cai the Laotian young, but he will be all how do you want to see the year in.

Not yet because they still want me excuse me the ones with all the concerns that I took away pathway not women become 14, Glenn He told me that he.

You can see the white Queen woman, though you'll not see and they haven't yet no leeway the wild woman until you're sure you're saying you don't you shouldn't Union.

Since Alf why don't see adult you'll not get held up well things that are coming.

Congrats for the great results and thank you for taking my question.

And ladies out some external research. My first question is how do we expect the growth potential after the relaxation of cost control measures and how about expected goals and my second question is could.

Could you. Please us common share some outcomes on the recent White's conference and what adjustments have been prepared of offline activities.

For December and next year. Thank you.

Oh hi.

Hi, I live and we're not going to go entirely.

Hi, how are you. Thank you for your question I guess I. This is Lee and I guess I will.

So your first question because you were guiding some financial guidance on next year and then I missed your phone will answer the second question.

Yeah, no it mentioned that the lapping of the pandemic control Margaret Yeah. That's a very good speaking all of our groups.

Basically I think all of our businesses will benefit across the board, but in terms of timing that will be some benefit early on and some will be benefiting later, namely advertising I think that will be the number one a business sector that will benefit from them because you know our business well.

I think expectations are confident match or the most I think the lifting of the control measures will give the visits were all enterprise side very good expectation all confidence. So I don't think that they will wait to see the growth to happen in realistic but only the.

The sign of recovery, we will give them the confidence to starting to do marketing again and to do customer acquisition. So they kind of they can't actually accelerate their growth. So that's why I think in terms of advertising that will be directly linked to the macro economy.

Recovery and I think that's why I always have.

Business will benefit first and.

Advertising is in in terms of volume that's number one.

Candidate or two so does that powers, our business and I think that's very good a very good sign and that's very important and gradually I think after because its matter of jumped up.

Announced in this week. So it's a few very early to tell but gradually I think after those megawatts.

You know what's taken all over the country I think all our enterprise value added services, which are mainly comprised of our offline events and some consulting businesses as well as our subscription business, which comes up a lot you.

You know offline training programs and of course it.

I think that will benefit us.

Also from this matter, but that will happen a little bit later than the advertising business, but the overall all three major business will benefit.

Two to qualify that job benefit I think in terms of.

Advertising, that's our biggest volume that we will let's say in the first three quarters of 2022 advertising grow I think the growth rate between 10% to 20%. If you do kind of fluctuate quarterly results I think Mackie are actually I used the phone just mentioned I think next year I don't think we'll outgrow 2020 tools performance.

Which means maybe higher maybe too you know, 15% to 25% or even higher.

For girls REIT, I think and provide value added services, which include our <unk> platform as well as all our subscription business.

Include a lot of training programs and of course, it's now real benefit in terms of growth rates that the growth rate would be great that would be even greater than the growth rate of advertising business, but incomes of volume that would be smaller than our advertising. That's all the answer for your first question I think I'm now.

Hmm will answer the second question. Thank you.

Yeah.

Hello.

LNG.

Please go ahead.

Hi, gentlemen.

So when I saw it.

Hello, English equivalent found Vodafone I wouldnt see kind of household.

<unk> had the medicines they need.

I can tell you just apply for Susan.

So what is your thoughts I know you called Shanghai, Solihull pension got Hondo genuine wishes and I'm trying to figure out when that actually wasn't she still has to take a look at all the time and it's helpful.

Sadly home in Wichita and outdoor.

What I'll ask you to download to your community is out okay. Janine Hilton uterine entities, you guys, usually atomic layer patterns impact, rather Jonathan on Saturday, which I do.

Kevin.

I understand that either.

Oh, so okay overcoming many challenges this year. So we've successfully hosted our 10th last conference you have prepaid like plan B two class do you plan do you play out too.

Prepare this conference so we don't get into acquaintance model offline formats in Beijing, and our offline for Masimo Hangzhou and were also and why it is up 210, Greek gods inquiries and they must entry printer well sure Mike.

The famous Investor Jungle, and also economies and some of the comments agencies for this.

Conference.

So when somebody is around that time.

And tell us what you should look at what we're going to do that.

So kind of Shanghai Tang and Nashville.

Common sense hydrological risks and I don't see a little more sure.

Until then you can tell.

Contrary to take when you show up at all.

The usual 22.

You'd be amazed.

So all our conference our truck closure of over $4 5 billion, all Cros offline online audiences and having saturation with or 50 mainstream media. So from the commercialization of that although the primary part of the conference will have Fortunately in Beijing.

Compliance is the offline Yahoo.

Joel we have little impact on our revenue.

So offline activities due to the impact of the COVID-19, Resurgency. So we are much more satisfied with their commercialization this year.

Oh, that's right.

Or do you not have room at the hotel.

Does that take a locomotive uncomfortable have you don't cover the shield.

Do you mean, the actual concentration of Hawkeye.

With each of them to all of us at a higher frequency of actually we're gonna daughter.

So the IP volatile Sheryl Mckenzie Hall.

Yeah.

So in December though the wife's competencies our focus with Congress and we will also have a few customized offline events focusing on bulk whole clients' needs like enterprises in commerce and also we will have.

Some of the I'll say, you've asked at all like a small size so regarding the next year.

Colin I too restrictions are lifted we will increase the frequency of close off major industrial companies and the person I can imagine that also will help you shouldn't more of our own IP events for the next year.

So this is how you can go from hydro bulk water to kind of hold on was just your quick.

Sure.

Tell me the top quintile rolled into an iron and those two Russell.

So as the reopening of.

The restriction we will have.

More offline was and also Israel generated more revenue in 2023 or 2022.

Yeah.

Okay. Thank you.

Yeah.

Okay.

The next question comes from James Tang of C. I C C.

Please go ahead.

And now Michelle symbols. They also think Helen.

I guess, you've got Oh, what's the danger all sounds you talked I thought sure P. J.

Northern Virginia, two vouchers with actually no we shouldn't unable to one of the things that it doesn't.

As always elements of your question.

She fragile X Y Z shall anybody, but you can call.

I will translate myself. My question is about short video business can you give more color on the future plans for development and commercialization I'm sure maybe thank you.

Oh gosh.

Question here.

That's almost as what I call you just open that you found to have with you.

Total annualized for sure it will be equal to what you know what I'm talking to shippers down that's usually Tuesday.

Colby.

Put a homeless in the cohort.

So I'll go back on door the cohort.

Also our short lead of events is very important.

Strategy for <unk>.

Uh huh.

So we used to so there's more to be.

Cut tomorrow and so the short video will always more <unk>.

Customers.

And it also help us to obtain more collaborations.

And France, but also geography, it brought us more attention from the worst by user growth.

So when we have anyhow, here's all of that kind of central Pennsylvania negotiated.

So those types of things as you kind of hold that until we can go down to needle, but you don't know.

Yes, I'll go to college of allergy presented tornado.

And I apologize for the July .

So have you done or if it's just what I can tell you that probably.

How should he is about high single Bill I'm not sure you're ready to talk with the Hitachi deal have you guys here.

Now your proposals.

And for the shareholders saw the Pico dual congratulations haven't even for oncology.

Okay.

Iot job.

Oh sure I'm clear.

Hello, gentlemen.

People need all of them.

Did you say that in general.

Okay from the perspective of Brent is less so it is a short video business have generally do frequency relocation from the industry in the past year. So for example, effective.

<unk> recently received two goldmine dose at one.

Copa Battle at the China context.

A war.

It's the one of the most recognizable award in the industry. So C. C. M. A highly precise 36 care excellence original content production and content marketing capabilities.

Sure.

Do you remember.

Okay.

Usually at number of our followers unbelievably surpassed $1 five at the end of October .

Any of our original videos have also but that's a high number of extreme amount of our original content off topic released at the end of November has racked up more that formulary reviews Bailey Bailey.

The most important thing is that our rank in the institutional.

So much high some of them are like a carbon or the individual.

I mean, you read a medium that was just.

But as far the institutional maybe there'll be a like a worthwhile in illegally.

So how has all that huh.

So when people have talked about an issue now.

Couple of examples.

So it sounds like what you're putting yourself at home.

Now before I was here before consideration of all cohort do you want to sure.

Terms of commercialization short video revenue and that's of course are calling for about like 15.

15% of our total advertising revenue.

The increase compared to the same period last year, although short video formats, not only effectively increase our average revenue per advertising customer and it also enhanced our comprehensive of our service to a certain extent, enabling us to provide services to a broader array of advertisers.

Thank you.

Okay.

Right.

Since there are no further questions I'd like now to turn the conference back over to the company for closing remarks.

Thank you once again for joining US today. If you have further questions. Please feel free to contact studies with Arris Investor relations with the contact information provided on our website.

Yes.

Yeah.

This concludes this conference call you May now disconnect. Your line. Thank you.

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Hello, Ladies and gentlemen, and thank you for standing by for the 36 Care Holdings, Inc. Third quarter 2022 earnings Conference call.

At this time all participants are in a listen only mode.

After management's 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 Jacobi IR manager of the company. Please go ahead.

Thank you very much Hello, everyone and welcome to 30 6K, our holdings third quarter 2022 earnings Conference call. The company's financial and operational results were released earlier today and have been made available online you.

You can also view the audience.

The press release that we said the IR section of our website at IR. Those 30 6K overcome but it depends on today's call will include our co chairman and CEO , Mr talk on the phone and our Chief Financial Officer, Mr. Li Mr phone, we'll start our call by providing an overview of the company and performance highlights of quoting Chinese followed by English in jeopardy.

Patients in this way will then provide details on the company's financial results before opening the call for your questions. Before we continue. Please note that today's discussion will contain forward looking statements made under the safe Harbor provisions of the U S. Private Securities Litigation Reform Act of 1995 forward looking statements.

Involving inherent risks and uncertainties as such the company's results may be materially different from the views expressed today further information regarding these and other risks and uncertainties is included in the Companys first Texas and other public selling F. L. U S. S easy the company does not assume any obligation.

To update any forward looking statements, except as required under applicable law. Please know that 30 6K, our earnings press release and this conference call include discussions of Oh. This is GAAP financial measures as well as unaudited non-GAAP financial measures.

This is parents, earning press release contains a reconciliation of the unaudited non-GAAP measures.

Two of the unaudited GAAP measures and please note that all of them on Snapple R&D I will now turn the call I'll, let you our co chairman and CEO Mr talk on the phone how please go ahead.

For the half.

No not in ours I mean, it does sound to you.

Hi.

Thank you Hello, everyone and thank you for joining our third quarter 2022 earnings conference call.

There aren't any tangible that you can find it for you what gives you sort of I'll call. It doesn't I was wondering how would you tell us what was that that you'd all tissue. She thought all the yoga teacher.

So you all can tell you how do you tie all of them yet, but can you just help me I shouldn't put both of them.

And the ZIP code over 2020 ensure we maintain steady growth across our business highlighted by our fourth consecutive quarter of profitability. This strong performance and COVID-19 was sort of things as macroeconomic how wings was largely thanks to our dual focus on boosting our influence and.

And the other one advancing commercialization.

So long as you use your tiny other dollars all while materially you'll have 42 quarters I mean, why shouldn't have any that are generally doyle issue that you'll need they usually don't yet she didn't actually it is sort of completely didn't even touch on that due to timing.

Was there any thought I think I don't want to tell you how they use the tool.

You're talking.

As these drove to empower the new economy sector throughout the third quarter, we continued to optimize our sources and build barriers to competition with our content ecosystem setting the stage for our ongoing excellent performance to start I'd like to share with you some of this quarter.

And innovations and brand influence and commercialization.

You go to the NATO and tissue and towel and tissue Assortments, you're going out to eat it sounded like you did you say you already say multi beam tool for them when they when he got fully I'll finish on a yes on cookies.

Sometimes you will begin to see it.

With Alto, Okay got you talking to you in jail hormone first let's look at content, we are committed to creating value with our high quality content is the cornerstone of our developments and powerhouse that smokehouse continuous expansion of our brand influence bolstered by our content platform strategy, we still focus on P. J C on UGC, we haven't.

Our content offerings, and creating a multi dimensional content ecosystem, comprising pan <unk> Pan technology, and putting that content.

Then as usual well I'm curious how much runs out of a no slowdown at all what he thought was walking security policies you called it out. So you don't really have any help on how you don't want them and they will evaluate excuse me if I'd ask everyone to watch what's out there.

And you don't know talk him home and dump it wouldnt want transalta, yet, but as you go into the timing of a few days without Hawaii Bajaj.

They don't come to US you know when the Windows and just.

Whenever we convenience you produce engaging professionally created content.

Number of our articles with over 100000 page views climbed to over 155 among them several articles on Pam business Impella life topics triggered heated discussion driving tee this up to 300000 and even beyond 800000 in some cases. In addition, several of our original article this week Monday, It's Mike.

Reach has top stories like these in the third quarter, leading to a daily page views of overwhelmingly in sports several consecutive days.

I sure hope not.

It happens you do Shindo Postheat I Didnt count what doesn't go we've actually runs out.

Tony you can finance you increase that or maybe you're trying to do would have something to tell you Tim Ho Wan solution, Nevada is way down.

Children's holiday, you got kind of a home you.

You don't have to go home and that's why I said I was going to do.

I also like to highlight an insightful article written by our thing jewelry market to them in the third quarter, <unk>, a blockbuster, which generates huge boss and over 800000 for the more our Brent and award shows up media outlets. So do you think.

Carbon launched only six months ago achieved nearly 200000 views with his in depth knowledge of I hope law catching the all its off to a flying start reached significantly boosted our visibility in the ducommun sector.

So when you say Moshe is that what you do with the Hilli.

They can talk to you.

Kind of a cold and don't have an account team and you'll what you've done the only thing I said sitting kind of in a while and then couldn't absorb cooking.

Welcome to the country something that somehow you don't have to kind of economy, I think hopefully as well as for our UGC mono, we implemented a breakthrough innovation that quarter, but optimizing operations, Florida 30, 6K, our ops Lady It's post feature we established a discussion forum for our short content for aging yourself, what Petro 18 content.

<unk> circle, that's supposed to be the core user retention will also draw your attention Andrew responses to our coffee substantially reinforcement user thickness.

Total Lincoln, who shows up and get to because he got here now in July .

And Jawad on anyone's Gonna do shall hold me at Beaumont. Unfortunately don't have any of them in Philadelphia to name them going out and talking about how would you really should only yeah.

They don't have you done there right now and tell us what kind of what's actually changing even though you didn't even want sometimes come on early cohorts, even going down that sounds good.

Yeah.

I'm kind of a catastrophe homeowner China why don't you give me maybe a hobby changed at all.

Oh sure.

Can you just tell us with engie to Japan in San Diego doesn't mean champion's visual equivalence, yes, that's right John .

So do you think that'd be another shutdown you shifted towards what you can tell me. If you go to Hong Kong with agile and essential all wore in growth impacts and graphic content video content is one of our most effective tool for increasing user that wants to me at least Freshwatch Halloween, our short video and live streaming content you end up with her.

All of our short videos, achieving over 1 million streams among them our original content on the topic of the truth about how healthy it doesn't make money came more than a formulary was unbelievably ambitions. So I guess its they obviously have to go with my daughters, and one Cooperman, China content marketing awards for excellence in content production and dissemination.

Lighting that industry, a coordination of logistics chaos original content generation and commercialization capabilities as well as our brand influence and after the third quarter of this year. The number of our short video followers exceeded seven point formula among the Indian Ambarella power followers and believe really surpassed $1 5 million at the end of October .

Making us a leader among institutional accounts unbelievably.

Yeah hold on what actually of course, a huge amount because you've lost your calling for them to fulfill your alternate always seem parties that he doesn't want to watch what happens if.

You don't want I want to ask you are you really should be a whole bunch of hotels long hold so what else I don't think so.

Regarding what's draining our youth watch C O tips programs continue to pump all the fresh content, but he was a continuous stream of high quality reporting with college of new topics together. They cant believe hit 25 left screaming sessions in the third quarter normally used to watch established cooperation with Wechat redo accounts to launch a specialized column.

So I think on your reporting to number of stream generated.

Especially as you mentioned you said you didn't even from here.

So yeah, you should have no can't do that.

10 o'clock call, noting that you tend to go out and get enough for the TOEFL surety bond with US if you have more room to find us.

He has been with him teenagers will tell you about and that's what onto yet you keep up with Humana.

No don't kick in until the people attending you can work out, particularly ones that cause you until I guess, there's a couple of cancer. So the way that well get anything you want to pass you to hold until Macy's. It kind of shows you that you couldn't do before you put out here you've got you've got house, you're pretty comfortable Youll, just clumsy it'll be high vol.

Beyond our you'll see studios N P. GSE content. We also explore data accumulation community operation during the quarter and leverage our experience in primary and secondary markets to launch doses six there are venture capital platform. This platform come to life I'll always anytime mining resources to continuously empower early stage projects to secure financing.

Now the platform has attracted a walk 10 intelligence startup companies and over 1500 institutional investors, including such Big names I've matrix partners and Swan Ventures with 1000 weekly collections facilitated on average that's the thing you can go with Fortunately it was about 36 Garo venture capital platform on both sides for us.

As we expand beyond the beta so that's two data tools and founding facilitation services enhancing visibility and exposure for high quality star all companies and connecting them with investors.

Okay. It sounds a little name associated with them one of the factors that hit.

Just any sense at all that you only think there's always somebody going on but I'm not sure if I didn't feel sure that tender bancshares runs out.

You wanted to congratulate you pencil development.

Final housekeeping on attention as usual to have.

Sounds good.

Paul whereby our.

She says as of the end of this quarter at the handoff. Our followers grew by 18, 6% year over year to $26 7 million. We have also noted it's consistent improvements in our brand influence and user attention. Each has laid a solid foundation for our commercialization initiatives with that that's not her she would.

The commercialization progress of our main businesses.

So essential novato.

Gotcha.

And then Peter.

The major without going to quote so I'm not sure if all of sudden interest how do you feel like in Juarez, and Tijuana, particularly cold. So tell me if I'm not I'm not sure cause I'm not even sure teams with respect him.

One of our customers rose by 20% year over year about a pool how society at last year allowed ROE in the third quarter.

Therefore, you're settling in with Hudson will go up because you're not that long ago.

Usually they're coming to you because you didn't call me in.

Because of the Chinese shipping so could you please.

Yeah. She didn't just lose him tell me kind of a normal run off to college students teachers and holding those.

Because you're going to file I don't totally Hunter you bought them, but don't see at all and what you can ship you might do a couple of those warehouses, you'll try and hoshaw without davinci is that sends you talked a handful, but why was he probably shouldnt be back towards it because he can't work.

Still we are using that I don't think.

We continue to create new advertising content formats for brands targeting the end consumers. For example, we made a commercial video for hybrid hybrid electric vehicle entitled the truth about oil resource deflation, especially in our fresh perspective. This how long you're in short video one raves from the customer.

Verticals, some media outlets or youth also continue to gain brand influence those Chinese commercialization potential that collection content formats from various channels, including tax graphics, I'm not screening or use kind of a few the varied needs of our diverse customer base as for commercialization multiple well known companies, including <unk> pharma.

Jim Don and Joe who became repeat customers and the sort of corridor.

Stablish new collaborations respond waste.

Stop VR and other new economy brands.

Oh, Yes, you signed up for yourself for that and he said I'm sure I know how he had a couple of years.

That's what I'm talking about wholesale as either we'll need a table that's I'm, saying will also cause.

So we troubleshoot here. She says you can work out here that kind of adult use kidney problems.

Just thinking about the uses that if one of them.

Sure.

The only time, you shouldn't be coupled with central to who can't get hold of kinship Chinese they don't know what is what you should think about what we're talking.

Hopefully I'm, calling out the type of feedback are there.

Starting in the new economy sector is a key differentiator.

Advantage for it. So if you just pay off we also continue to innovate and often.

So is this more traditional industrial customers for instance, we established in depth cooperation with our staff to operate their brand strategy in preparation for their new product launch, but skillfully integration product has seen a similar products with our detailed informative industry specific content, we have stopped the mass tier strategy will be.

Coming of World Class Chinese running shoe brands these collaboration and warranty in depth industry content product videos and our product launch was a sports force that his experience and represents upwards, hence neutral yeah, I'll walk us N O for empowering traditional consumer brands, we are confident that as we continue to receive.

And enhance our services, we will attract more traditional brands seeking an influential and creative partners in your marketing strategy.

When we get huge I mean with any of these instruments. If you took her tenure when you tell her time in promotional atmosphere minutes with San Jose.

There's also a lot of changes human anti Tau Tangles Atkins U K.

Can you just handed off the table to talk about since you were talking about the listen useful usual doesn't actually call I've told me he got on a little shy of Huntington.

In addition, we recently entered into a strategy cooperation with future car, a leading north American media platform focusing on the automotive industry through also the rest content sharing and unusual commercialization supports the two parties will jointly tap into opportunities into global new energy vehicle sector.

This marks an important expansion of 30 6K, our global business footprint during our media network and our commercialization post packs in the North American market.

Oh man.

What have you and sometimes they don't.

Oh cool somewhat towards the type of level.

Yeah, because you can only shortly if you had told us you're penetrating from job.

Well sure.

You can call. It gives you because you don't have anymore. This is Giovanni you keep that going and trying to give me a whole bunch. It towards the end of hotel I just don't know what he told me like what do you mean, how did you meet your technology kidney.

Yeah.

He wants you to when he said once we.

Regarding all secondary market products, we came up with what hi, John Securities during the quarter through share our insights into the real estate industry current situation and future investment trusts. So what the statistics are kept so pie program. Meanwhile, we established partnership with three large companies such as me will help grow our doctor Lima medium and chance here.

Chippewa empowerment, so it says in market value measurements and fluids management.

Sometimes it's that's where our cell phones have to only market business, we set up a joint venture in the third quarter, we used a well known U S financial media company capped to watch going forward that the G V. A real focus on offering a marquee value management services for a Hong Kong listed companies.

She is under four and hit all of them in tissue. How are you sure that sounds good.

Sure. He only go to you for there was no hard yellow zone.

She can walk out with I don't go to a show like a week or not I'm listening to calls with all the positive.

Turning into rather at the enterprise services in this quarter, we continue to provide high quality of services for our clients by integrating online and offline formats to mitigate the impact of COVID-19 on their business. As a result, we've established cooperation with more enterprises and comments clients, increasing our number of customers by 26% total revenue from this.

Segment also increased by four 7% year over year.

Yeah.

Rental market went down.

They are somewhat unique in its own way tomorrow I doubt on the Toronto <unk> digital.

All of those you know you've realized signed up sometimes you come to Chicago to reach out to <unk> and I'm glad you could even do you use you can induce before she has been a hot topic.

So can you just you guys had kind of said you anyway.

All of them when they use a lot of them go a box you're talking about with you at all.

Yeah, I'm not sure what you want to handle that because now you have you can initiate that well share. It seems you kind of continue triangular teeth cannot tell you. So I can see you know, sometimes you guys Adam Dawn storage almost having said.

So it all kind of hunger because most of them falling out and tell a story.

Well no perfect Science was the heavyweights I T Forum hosted inks for the Tampa Lee in 2020 to China from Pioneer summit through our communications with a massive number of start ups and investment institutions. We have developed a deep understanding of both the current situation and future I'll look up a broad swath of industries, we capitalized.

All of this advantage to analyze the key factors impacting the development of RMB pump industry policy and market perspectives, helping local fostering deeper insights adapt to changes and capture opportunities is in the new investments Aero innovation, we concluded our wife's new economy. Some of Congress last week with long China alone.

Patient as easier frame really much if I'm in the new economy professionals, including entry Premier washer economies watching you and Charles Li shall Jam and reported on form four more chief executive of the Hong Kong stock exchange to conduct in depth discussions with trending industries. They rent reached a truck total exposure exceeding one five.

Feeling across online audience.

But now I don't drive and that's as you know he is under four Youre definitely Hugo tricky probably tend to wait until we get to show how high you don't have only two Ohio facilities.

So as you see some coffee.

So Sam Sato.

Beijing, Shenzhen, Hangzhou, whose symptoms what are you talking with you, but you can't count Baidu don't budget them put out for next year.

So I.

Well the one one times on a cohort even done they owned a pool or having a problem with you.

Would you go so they are in and how they come out with a horizontal Turner.

Javier do you want to keep all that meaningful.

Social casino Phalanger, what's your sense of how you play at home.

I thought it was gonna them without doing anything unusual this year.

Digital will help in the classroom offline activities, we continue to make strides with our consulting services and value added enterprise. So is this in the third quarter for our consulting services. Our 30 6K, our research institutes continue to deepen his industry insight and publish compelling industrial research reports.

And as Brent incidents during the quarter, we expanded our customer base with additional government agency customers in Beijing, Chengdu, Shenzhen, Hangzhou and she wants him as well as renounced enterprises, including then they won't buy to let down in PNG Ali ratio.

S commercialization as for our content operation agencies always says we continue to explore comments always this modernization and standardization of our app to enhance our service efficiency and quality at a barmaid developer conference 2022. So do you typically are was granted the excellent technology content on their awards.

Providing agency operations services, well Pommies browsers. In addition, we attract new partners and established collaborations with various dominates financial institutions and enterprises, including Shanghai Pudong Development Bank came on quickly and onetime securities. Thanks to our high popularity and.

Am I allowed one of most effect.

Yes sure.

Yeah, well you changes you're going to end up owning your position.

In Shenzhen Shanghai.

Oh don't Switzerland, whichever counsel downhole Bashan Shiloh can shoot put on.

So digital to coal and glad to hear Gung Ho William show clean more questions on that she said it couldn't tell me. If you don't have to do what she is wrong here.

Tell me if you don't put videos reach all country cohort sandeep.

Continuing with as you try to take them all.

It's always a.

Please he comes with that but these are sort of sitting on my left to sit down with them. So we're trying to introduce you today. If you have any thoughts on your G&A triangle harsh and those kinds of words I shouldn't even buildup.

At the same time, we continue to make progress in our regional business expansion.

Do you have headquarters in Beijing, Shenzhen, we focus on expanding our presence through our cross regional offices in Guangzhou, Sichuan Chongqing junk food with young will be Ashok changed at all.

Our growing regional customer diversity revenue from enterprise clients is also increasing rapidly with our pricing by more than 50%.

And contrast that is now over 60% year over year, I think logo enterprises to our client Rooster has improved the balance of our governments and enterprises clients clearly, reflecting the effectiveness of our lower tier market expansion strategy, notably our regional office in Jiangsu often have a sports events during the quarter.

Establishing a benchmark as we viewed regional influence of our watch constantly and explore regional commercialization opportunities.

What type of Altra deal cause Oklahoma's helpful. July when was that because you also have your seafood coalitions to chemicals, whether somebody who's going to talk to you. Some view once it's absolutely ones I'm trying to put a floor.

That's a hot issue when they don't drink beer.

I don't want to see a nickel Krishna.

Can you say, who couldn't get to watch Oh, well sometimes.

Sometimes the time has come to you.

With respect to our subscription services on top of all works 18 traditional courses.

Of course, our curriculum and plenty of our customer base during the third quarter, we upgraded following acceleration camp and partner with well known companies, including Microsoft China ammonia to provide internal training as we build out a couple of its curriculum subscription. So this will bring us more commercialization opportunities going forward.

Yeah that was telling me that I forgot to alternative lets see if we can impact those who can do that.

Once we got that in the context only cause you told me that you can share with.

You tell me what GDP these won't you've got I'm just not sure.

Thank you guys.

Does that have a multichannel so.

Well, that's all I've got.

So not just here he's going to introduce one on top of all of them here.

So as you all know why you shouldn't see a whole lot you can just talk to you try them off okay.

And I agree with you.

Next I'd like to share our latest accomplishments with respect to our enterprise Somebody's review platform. According to northeast Securities stay at home. The digital economy has become a key driver of China's economy development accounting for 40% of China's GDP and rising we are presenting our second growth engine and our commercialization breakthrough.

And your peso has revealed platform is dedicated to empowering this thriving soft industry in the third quarter. Our enterprise service revenue climbed four reporting exceptional performance across multiple operational operating matrix as well as breaking.

That's all I have.

Progress in functionality improvements user acquisition innovation and commercialization.

Sure Jamie.

So what are you trying to do what your cost was on that.

Well it won't be something on top of Charlotte hopefully you got a job potentially slow down some on tissue, but below what our plumbing and doors it.

And that shows how old she didn't have a quantum Colombia, Colombia to jump on that with you because I'm not sure that we can continue to hinder Toby just a mouthful forced to enterprise surveys revealed platform maintained rapid growth is operating the at home with monthly active user rising more than self what year over year to exceed 1 million you number of.

And if you use a revenue was also searched worrying about almost 10 four year over year and 54% quarter over quarter to exceed 50000, We showcased award 7300 pieces of mainstream stuff there on the platform this quarter up 59% year over year and the number of more chance on our platform.

Now approaching 1000 up 328% year over year.

So if anyone knows how she was going to use on Jim.

In terms of in detail shortly the beautiful thing is I mentioned, how does that change at all.

It wasn't watching especially as I'm sure you don't know if.

Michel do you hold them in tells you there's something that I didn't hear the movie content between Manhattan Chicago closure.

So I know you don't show Union.

What does he or she is important.

People don't go check it out.

Okay.

We can deal with.

Regarding product functionality improvements is on the on the lines. They tell sell their products, we viewed our labeling system for software evaluation along with her two was renewed by choosing a pathway to labels, which improve efficiency and effectiveness in the meantime, we upgraded our risk control system for my view diversification.

To increase brand authenticity and reliability, we also alleyways hits buyers experience by enabling profile.

On the H five page of our App finally, we revamped our business portal in the Baidu mini program, leading to pick daily unique visitors of over 5000, just two months after its launch.

And here, we're talking about <unk>, because you said it was issued on January 30.

The OTT, who you are.

Kind of what you would've been because once you would always get in trouble.

Sure Doug and opinions.

Neutral disposal Hawkeye G that hole with you then.

To ensure the highest Huntsville as high as it once was.

But if it comes with having a short video from all that.

The address kind of what you would've thought as you may know for now we don't see in Pennsylvania at all you'd see if we can do.

Try to handle it myself I was I've been at all time highest Fischer, who it is you're telling me. They just signed up with US that you don't want someone who can do what you said to wash them down I don't know a lot more to sell to Chinese due to tight it's interesting to you.

That's where all the innovations and customer acquisition in addition to continuous optimization.

Optimization of our consumer profile system and ground promotions in various regions. We launched an exclusive long enterprises always team party onto enterprises always review platform, we invited exports from leading enterprises, a proud partner in those rates, we used an interesting digitalization such as catering a new cost.

<unk> to explore industry solutions and real industry scenarios.

Once the plan participants understanding of digital transformation from a practical point of view.

Recently, we strengthened the content capabilities on our enterprise. So let's review platform in the third quarter by combining professionally generated content and enterprise service review platform products, we say usual centric approach, we unlocked the unique value of IP content and guiding industrial trends and forging connections among professionals believe through our.

Gross dialog program and digital growth program, we focus on rail business cases, and also how people use a review to two out of the way the user experience and commercial value of enterprise products from your this perspective.

So every time it.

It was in the kitchen with you. If we didn't do you can you tell US you might argue that they tend to you do you should never quite got here they have to talk about all the time.

That's happened this year or do you want to handle shopping Yahoo. You don't care, who doesn't have has gone here shows you hopefully you'll tell US also what council.

Due to the Holdco.

You didn't have that.

If you go to jail partner.

Talk to you about putting on Arizona.

But how long should we think that kind of huddled around the 12 or something.

I'll shoot you can talk to me talk Tom Herzog can cookbook R&D.

Well I mean, it's almost equal with a huge issue all the way what do you mean cookie.

Cookie, which is one of them Jim your thoughts on the model. So what are you comfortable that you don't use it goes onto your favorite people. She can go to somebody.

So that's the lead but also made significant stress in the commercialization of our enterprise wireless radio platform to date, our enterprise. So it's really a platform has received orders with a combined value of over RMB 10 million. It has also established strategy cooperation with Lenovo a fortune global 500 company to provide in depth marketing services to win.

Lenovo F&B unit, specifically leveraging the data we have accumulated via the enterprise video platform. We believe our valleys marketing qualified leads and assist Lenovo F. N b units in process customer acquisition, New mail by jointly developing a program for specialized sophisticated differentiated and innovative.

Companies to acquire a massive traffic from small and medium sized enterprises, we have in principle in L. A powerful new tool to enhance their brand influence. This collaboration marks an important milestone in the commercialization path of our unsurpassed somebody's radio platform and a benchmark for future cooperation at least more.

<unk> companies, we have established at other benchmark cases through brand promotional flounder, one sonic window are such as tissue Hot pace really in technology and that ties dotcom beauty a flywheel for the enterprise. So it's really a classroom through IP growth.

What do you sense at all he wants he wants he can control.

Okay, Yeah anytime behind it I mean, you've got to kind of close that anywhere from that 40, he kind of hockey show you'll have them because you got a shot at all of them that puts it all together and grow with us.

She didn't hold these homeowners will somehow you didnt you can sort of negotiating right. So it goes with your I can honestly say that kind of cookie, who doesn't who can that change as you go to Washington to cancel it wont be it causes them to trail off as it comes out.

How long I don't think it's almost hand to play with them.

Sure.

What are you going to tell me how you shouldn't you shouldn't have taken long haul she won't compiler challenge Andy has made a huge smiths amount yet, but you don't know who don't he tells you and talking to those that you lose.

Looking back at the third quarter, despite the COVID-19, resurgence and macroeconomic challenges that still weighs on everyone. In the industry. We remain focused on optimizing our content ecosystem. So it system and operations. While also driving our commercialization. These efforts contributed to our encouraging financial performance in the third quarter.

Chip advantage to maintain our business vitality and resilience riding the wave of industry upgrades and digital transformation, we will unlock Rachel commercialization potential and explore new growth Avenue in the new economy sector took care.

To create more value for users shareholders and investors.

Coming out of Washington, and several of them that have already put the only element.

With that I will now turn the call over to our CFO .

Who will discuss our key financial results. Please go ahead.

Thanks, Paul and Hello, everyone. Despite lingering challenges in the external environment. We are very pleased to have you.

Indeed, our strong growth momentum into the third quarter was another quarter of double digit top line growth alongside a 11, 5% year over year increase in total revenue.

Notably our advertising businesses continue.

Increasing 20% year over year, while our enterprise value added services also recorded solid growth of 5% year over year.

In addition, thanks to our consistent and effective efforts to optimize our cost structure and operating efficiency.

Profit margin and operating margin both improved year over year in the third quarter 2022, and we delivered our fourth consecutive quarter of profitability.

Our resilient diversified portfolio of products and businesses bolstered by our content capabilities and multinational ecosystem actually positions us to achieve sustainable growth and generate long term shareholder value as we move forward.

Now I'd like to walk you through more details of our third quarter I'll try to try to actual results.

Total revenues were RMB, $94 6 million and a good quarter of 2022, an increase of 11, 5% compared to RMB 84, 9 million the same period last year.

I haven't heard any services revenue increased by 20% year over year.

RMB $63 9 million in third quarter 2022.

The increase was primarily attributable to more integrated marketing solution, we provided to our customers as well as proactive strategies, we have adopted to navigate the challenging environment during the quarter.

And of course, I do stomach as revenue increased by 5% year over year to RMB $23 6 million in a third quarter I'll be trying to buy too as we continuously and proactively cheap out there with new enterprise level services for our customers.

Subscription services revenue were RMB seven 1 million.

Oh 2022, compared to RMB 9 million in the same period last year.

What's primarily because some of the offline training programs were canceled or delayed due to the resurgence of COVID-19.

Cost of revenues were RMB 35, five minutes instead of corridor of 20 to 22 compared to RMB 27, 3 million in same period of last year.

Gross profit increased by 24% year over year to RMB $59 1 million.

2022, compared to RMB $47 6 million in the same period of last year.

Gross profit margin was 62% in the third quarter of 2022 compared to 56% in the same period last year.

Operating expenses were RMB $62 1 million in third quarter of 2022, a decrease of 23% compared to RMB 83 million in the same period of last year.

Sales and marketing expenses were RMB $32 2 million in the third quarter of 2022, a decrease of 9% from RMB 70, 525 minutes in the same period last year. The decrease was primarily attributable to the decrease in share based compensation expenses and marketing expenses.

G&A expenses.

One 6 million in the third quarter of 2022, compared with RMB three 9 million in the same period last year. The decrease was primarily attributable to a decrease in allowance for credit losses.

Research and development expenses on these 15 4 million in the third quarter of 2022 compared to $13 nine minutes in the same period of last year.

Share based compensation expenses recognized in cost of revenue selling and marketing expenses research and development expenses as well as G&A.

G&A expenses totaled RMB, two 6 million in third quarter of 2022, compared with RMB four 9 million in same period of last year.

Other income was RMB, five 7 billion and a good quarter two compared to RMB, one 5 million in the same period last year.

Fluctuation was primarily attributable to income generated from write offs of accounts.

Collins payable in the third quarter of 2022 after the company fulfilled all applicable notifications and other risk eliminated with Baird.

Net income was RMB two five minutes in the third quarter of 2022 compared to a net loss of RMB 31, plus one meeting in the same period of last year non-GAAP . Adjusted net income was RMB five 1 billion for the quarter of 2022 compared to non-GAAP adjusted net loss of RMB $26 4 million in the same store.

All of last year.

non-GAAP.

Net income attributable to subject six chaos ordinary shareholder was RMB one seven meeting in the third quarter of 2022 compared to a net loss of RMB 45 minutes in the same period last year.

Basic and diluted net income per share and part D. S. What RMB one two cents in the third quarter after 2022 compared to basic and diluted net loss per ads of.

RMB 70, 414 cents in the same period of last year.

As of September 30th 2022, the company had cash cash equivalents and short term investments of RMB 164 million compared to RMB $194 three meeting Azerbaijan somebody a 2022 particularly.

It was mainly attributable to net cash outflow from operating activities as well as certain long term investments in several you would call me startup companies. We've made in the third quarter of 2022.

This concludes I'll I'll walk prepared remarks today, we will now open the call to questions. Operator. Please go ahead.

Okay.

Thank you if you wish to ask a question via the phone you will need to press the star key somewhat by the number one on your telephone keypad.

The benefit of all participants on today's call. If you wish to ask your question to management in Chinese. These immediately repeat your question in English.

To withdraw your question from the question queue. Please press Star then two.

Once again that was star then one to ask a question at this time, we will pause momentarily to assemble the roster.

And our first question will come from pay pay cube of industrial Securities. Please go ahead.

Yeah, Okay sure Glenn anytime go Morgantown juice your MA as I'm sure you do too Pollyannaish drew cool Oh.

Yeah, No what Japan, the Davinci no sugar when you do that you didn't see no among technology sure she didn't shingles.

I'm doing a deal was announced you can some.

Fine John but should.

Did you do it you can do the Jean Jacques English courses igo share our Cheyenne that you'd go aren't showing you hop in Shanxi Ramadan shots, not even I don't want people, who can chime in yeah, no sudden jumping Huntsville, each agreed upon with younger I'm not going to change that.

I will translate my question. So we've learned some your funding you would pull down the enterprise to review platform. She forgot into drops rapidly a crowd smelter operation matrix.

Could you I'm sure with us more about your like monitor monetization timeline for this business in the coming years and more about the mid and long term strategy.

Just getting too thank you.

I hate to do it.

You know as we're looking at.

I mean, Johan who say well I'm going to I'm sure.

And I'll throw out a degree English would you what would you if without your hard work.

So as you get neutral down and I'll show the potential do you keep all the doors and ask what ambushes Love you. All it's also within that.

Well it won't be as an add on just a little sharper Asia.

Typically this would happen in a capitalist okay.

Can I get a little one gap Waddell Huffington Hotshot loosen financial assistance of airplanes.

You don't have as much as you would.

This would have without getting into Zynga taught me call, but I'm just I'm asking about.

Since the beginning of this year, we have been trying to optimize our enterprise video platform operation and explore.

Commercialization of a trend here.

Our operating later or enterprise service revenue platforms.

Following matrix, all impulse rapidly you're over here, including monthly active users.

Daily active users or the name or elsewhere with yours and in Anvil all pieces of software are showcased.

Although year over year basis of enterprise video platform.

We'll grow by or Paul what to exceed 1 million. The number of thrilled with your increased by almost half were up year on year, and 54% quarter over quarter or cause he saw that the old social cause of war.

It's all about 350 assays of mainstream stuff were up 59% year over year, and then Emerald from watching all of our enterprises with radio platform approach 1000, a year over year increase of 328 core fans.

Finishing off on their own and it sounds as though you didn't have that also some of the anytime soon hopefully he can that Wendy yeah.

I wish I can answer that you would have you're saying Wow. This is how you can bounce around but it shouldn't be.

Terms of commercialization, we established collaborations with Lenovo in the third quarter to empower their customer acquisition front Benjamin.

Marking an important milestone in our enterprise service offering our platform commercialization path.

So that Oklahoma, Illinois utilities, you know the financials as you can get to walk away with TV It was awful.

Yes, I agree with you talk where potentially you could around the corner.

Because it's unusual with geopolitical tensions here, who is happy to do so would you who do not use your children clicking will have a higher retention level you'd have anytime tomorrow, we don't take the time to wait.

The government the Chinese economy, though by chance, you hold and I'm, saying Hi, Patrick.

Oh sure so long time washes out too huh.

Oh, Hi, this behind you hung on equal equal time, Dave.

One of them went down people trying to use your convention out in Shanghai.

And the high horse here, but it looks like almost half the time renegotiating. The Xiaomi channel for me, we talked about the economy generally you didn't accomplish anything you can attribute to what it was in the hotel.

Welcome to Liberty has almost no children.

Children, the channel I'm not sure she got somebody that kind of offering.

Regarding our Fisher class.

Leverage the existing data or under pressure as really a platform two cohorts more or less for the delivery. So for the next quarter, we will in Israel.

New product function will continue to collect any of this railroad deals and combined basic product data expert opinion to issue a personalised industry selection reports and product comments reports will help users make crack selection. These cigarettes. We think this will highly improved our surveys and also.

Improve the value of the commercialization at the same time from the perspective of SaaS providers will continue to enrich our industry solutions.

Industrial toothpaste developed case based products and reach out to decision makers by various means such as a product functions articles live broadcast so long turbine for me industry consensus and helping to improve the efficiency of soft product selection with respect to commercialization that will continue to be a bench.

Market and extend our collaboration with leading well known enterprises, such ethylene I wonder what kind of went into more enterprises brighthouse analyzed commercialization mothers and expanding our commercialization at scale with maximum efficiency.

It's always a Wednesday morning, Joan.

Looking at our stock tissue based analysis.

Are you seeing so far today it sounds it once they find out that you can literally see as you know from the husband to you. So you can always hold and judging you on how are you.

Sure.

I think one of them who are saying Wow.

Going on but I'm trying to do at all.

I'm trying to get a union gems tissue. She took one of them so yokohama going on E comm.

Now equivalent of Shanghai Canton, Ohio.

Uh-huh somebody I Army.

Awesome.

Also for the macroeconomic small economy pro packs on the 20th CPC National Congress has also emphasized the importance of digitalization contrary to popular perception of core NIE to flare ups has actually facilitating the development of SaaS companies as more holistic digital transformation. So.

We expect that if we have more focus on the functionality of enterprise. So it's really a platform in 2022, and we will assume a real.

A very high growth compare comparable to the 2022 of the commercialization for the Euro for 2023.

Okay. That's all for your questions.

Thank you.

Yeah.

The next question comes from Ling knees out of S. W. S Research. Please go ahead.

I really thought that Oh actually yeah, okay yeah.

Yeah, So what that he doesn't know what to Danny old Young girl than T. D that you show them. He kind of all moved him well and they cause a D G eating junk.

I phone Keilar no what's how long he tell its social commerce and usually comes Tonight here with Centel say eating some kind of hold that someone's house, yet E. Z go not Washington D. C and you put the phone Cai the Laotian young but each deal must be all how do you want to yeah.

Yeah, because you won't be it's usually the ones with all the concerns that I took away pathway not woman can become 14, Glenn He told me that I.

You can see the white Queen woman, though you'll not see and we haven't yet nobody nobody has allowed women do you shall you're saying you don't you shouldn't.

Since Alf why don't you adult you'll not get held up well things that come.

Congrats for the great results and thank you for taking my question.

Lease out some external research. My first question is how do we expect the growth potential after the relaxation of cost control measures and how about expected goals and my second question is could.

Could you. Please us common share some outcomes on the recent White's conference and what adjustments have been prepared of offline activities.

For December and next year. Thank you.

Hi.

Hi, I live and we're not going to go entirely.

Hi, how are you. Thank you for your question I guess I I. This is Lee and I guess I will.

So your first question because he's regarding some financial guidance for next year, and then Ah Ah Ah Mr. Huang will answer your second question.

Yeah, no imagined that tried to lay people off the pandemic control Margaret Yeah. That's a very good speaking all of our groups.

Basically I think all of our businesses will benefit across the board in terms of timing that will be some benefit earlier and some will be benefiting laid her namely advertising I think that will be the number one a business sector that would benefit from that because you know are in business work.

Think expectation all confidence towards the most.

Think the lapping of the country macros will give the beans, it's more all enterprise side very good expectation all covenants. So I don't think that they will wait to see the gross who happened and realistic but only that's the sign of recovery will give them the confidence to starting to.

Two marketing again and to do customer acquisition, so they kind of they can't accident.

Accelerate their growth. So that's why I think in terms of advertising that will be directly linked to the macro economy.

Recovery and I think that's why we're packing business, where benefits sparked and advertising.

Advertising is in in terms of volume that's the number one candidate or two so does that powers our business and I think that's very good a very good sign and that's very important and gradually after I think after because it's Mario just a I think a knocked in this week. So it's a few very early to tell.

But gradually I think after those megawatts.

You know what chicken all over the country I think all our enterprise value added services, which are mainly comprised of.

Offline events, and some consulting businesses as well as all our subscription business, which comes up a lot you know offline training programs and of course. It I think that we will benefit also from this matter, but that will happen a little bit later than the advertising business, but the overall all three maybe.

Our business will benefit.

And two to qualify that job benefit I think in terms of advertising. That's our biggest volume that we will let's say in the first three quarters of 2022 advertising grow I think that goes maybe its between 10% to 20%. If you will kind of fluctuate quarterly result, I think.

Backyard I used the phone just mentioned I think next year out of pattern will outgrow 2022s performance, which means maybe hyatt's, you mean to you know, 15% to 25% or even higher.

For gross rate I think and provide value added services, which include she's with MTN platform as well as all our subscription business, which include all training programs and of course, it's now real benefit in terms of growth rate that goes with it would be great that would be even greater than the growth rate of advertising business.

In terms of volume that would be smaller than our advertising. That's all the answer for your first question I think I'm now chicken will answer the second question. Thank you.

Yeah.

Although not without challenges.

When you take the last part was zero.

Okay.

So when I saw it.

Hello, English Codell sounds a little cleaner household.

But as you noted a marathon hydro medicines.

Okay.

Susan.

So what is your understanding you called Shanghai was actually I was telling the whole pension got Hondo, Jon and Moshe I'm trying to figure out when that actually wasn't she still has to go up to half the time it was helpful.

So having a home in Wichita and outdoor.

So over time, I'll shoot down there, but you're going to use all the time.

How do you think you're treating dyskinesia guy he sits on Atlanta patterns in fact really the China JV.

Kevin does that I didn't understand it either.

Okay overcoming many challenges this year. So we successfully hosted all wore tennis last conference.

Prefer like plan B to C plan D play out too frankly.

Prepare this conference so we don't get into a crazy it's Marty.

Offline formats.

Beijing, and our offline from Ico Hangzhou and were also and why it is up 250, English Goss inquiries and they must entry printer.

Well sure like cause they must invest church on young and also economies and some of the government agencies for this.

Conference.

So when somebody doesn't lifetime.

I'm going to tell us sort of what you should look at what we're going to do that also.

Sure sure.

Hi, Sheila.

They kind of tenants you have I'm not sure how to until the email.

Contrary to take when you show up at all.

The usual 22 additional housing initiatives.

It should be on that.

So all our conference our truck push off over a four 5 billion all cros offline online audiences and having saturation with or 50 mainstream media. So from a commercialization setbacks, although the primary part of the conference will have Fortunately in Beijing and comply.

The offline.

Hangzhou, we have little impact on our revenue.

So offline activity is due to the impact of the I'll call. It that I can't really sort of this so we are much more satisfactory we used their commercialization this year.

So there's always this what you hope is that as far as I hear what you guys have room at a hotel that's why is that the hook or development.

This is Joe.

Yeah sure we answer the phone.

With each of them to have us at a higher frankly that you don't see me.

We're going to go to.

So the IP volatile sugar or potential.

Yeah.

So you can work out the web conference is our focus conference and we will also have a few customized offline you vote.

Although coal clients' needs like enterprises in Commerce and also we will have a.

Some of the so you've asked at all like a small size so regarding the next year.

Colin I too restrictions are lifted we will increase the frequency of close off major industrial companies and that pattern person I think that also will have you shipped more of our own IP.

For the next year.

So you Wanna easy that you can go along Idaho pulpwood to cancel them as you see them.

By all means.

This will be the trough with high yield into an irony note to Russell.

So I asked all right offhand.

The restriction we will have a.

More offline was and also Israel generated more revenue in 'twenty, and 'twenty, three or 'twenty or 'twenty two.

Yeah.

Okay. Thank you.

Yeah.

Okay.

The next question comes from Jim Pang C. I C C.

Please go ahead.

And.

Initial samples you're going to say Jim that you go you have to go Oh, What's your name you all sounds you've talked I thought sure P. J.

And then she she thought yours, what's actually yeah, we actually don't even with one of the things that sounds kind.

Element to your question, Yeah, we hope she fragile igloo Waikiki actually I'm glad I guess, you can call them.

I'll translate myself. My question is about short video business can you give more color on the future plans for development and commercialization of Shaw media. Thank you.

Well this is jose.

Got it.

That's almost as what I call, you're just hoping that you can come out of what you intended to normalize for sure it'll vehicle because you know what I'm trying to ship, regardless, that's usually you have to say.

Colby.

Put a homeless in the cohort.

So I'll go back on door the cohort.

Oh.

So our short video business is very important.

The strategy for <unk>.

So we used to so there's more to be.

Cut tomorrow and so the short video.

So it was more <unk> customers.

And it's also help us to obtain more collaborations.

And Brent, but what's the geography, it brought us more attention from the worst by user growth.

So when we have anyhow, here's all of that kind of kind of what's interesting is that of course you.

So those types of things as you kind of hold off until we kind of go down but you don't know.

So I guess I'll go to college algae Cassandra you Antonio.

And I apologize to the July .

Thank you Jonathan just what I can tell you that much about.

Probably they don't ship without having to go build unless you are these how would the <unk> have you guys here.

Now for the shareholders.

Sure.

Thank you Joe Congratulations haven't even within oncology I know well then.

Iot jaw.

Oh sure.

Hello, gentlemen, it sounds like you're going to need all of them.

Did you say that in general.

Okay from the perspective of Brent is less so it is a.

Slipped video business has generated frequency relocation from the industry in the past year or so.

For example, effective.

Please tell recently received you got my nose it won't hold.

Oh for them at all other China Okay.

A war.

It's the one of the most risks recall plasma award in the industry. So C. C. M. A highly priced 36 squares excellent their own original content production and content marketing capabilities. The.

Sure.

Do you remember.

Usually at number of our followers unbelievably surpass one cloud mainly at the end of October .

And many of our original videos have also but that's a high number of dream amount of original content off topic released at the end of November has racked up more that formulary reviews really really so the most important thing is that our rents in the institutional.

So much high some of them are like carbons or the individual.

When you read them and get them that was just a you see all of us, but as far the institution on me there were like the worthwhile in illegally.

So how has all that huh.

It sounds like you didn't consider the total cycle time.

So when people have talked about an issue now.

Any chance you can.

So it sounds like given what you're putting yourself at home.

As you know, sometimes mcdonald with him before consideration of all cohort coupons tissue.

In terms of commercialization short video revenue in those airports are calling for a vote.

15% of our total advertising revenue.

Thank you.

Yeah.

Okay.

Yeah.

Since there are no further questions I'd like now to turn the conference back over to the company for closing remarks.

[noise]. Thank you once again for joining US today. If you have further questions. Please feel free to conduct studies of tariffs investor relations with the contact information provided on all of that stuff.

Yes.

Yeah.

This concludes this conference call you May now disconnect. Your line. Thank you.

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