Q2 2024 Highest Performances Holdings Inc Earnings Call
Following managements prepared remarks, there will be a question and answer session.
Following managements prepared remarks, there will be a question and answer session.
For your information today's conference call is being recorded this conference call is also being broadcast live over the Internet and will be available for replay purposes on the company's website.
For your information today's conference call is being recorded this conference call is also being broadcast live over the Internet and will be available for replay purposes on the company's website.
Speaker Change: I would like to now turn the meeting over to your first speaker today, Ms. Dori Swoop HP hedged manager of financial reporting Department. Thank you. Please go ahead.
Speaker Change: I would like to now turn the meeting over to your first speaker today, Ms. Dori Swoop H P. H manager of financial reporting Department. Thank you. Please go ahead.
Speaker Change: Thank you good morning.
Speaker Change: Thank you good morning.
Speaker Change: Everyone Welcome to our earnings conference call for the first half of the physical terms accounting for <unk>.
Speaker Change: Everyone Welcome to our earnings conference call for the first half.
Speaker Change: In terms of accounting for half year report.
Speaker Change: <unk> report.
Speaker Change: Okay.
Speaker Change: Okay.
Speaker Change: To diversify.
Speaker Change: To diversify.
Speaker Change: And Exchange Commission earlier today and is also available on the App.
Speaker Change: And Exchange Commission earlier today and is also available on the App.
Speaker Change: I website before we continue please note that the discussion today will contain forward looking statements made under the safe Harbor provisions of the United States Private Securities Litigation Reform Act of 1995.
IR website before we continue please note that the discussion today will contain forward looking statements made under the safe Harbor provisions of the United States Private Securities Litigation Reform Act of 1995, the accuracy of these statements may be impacted by a number of risks and uncertainties that.
Speaker Change: These statements may be impacted by a number of risks and uncertainties that could cause our actual results to differ materially from those projected or anticipated such risks and uncertainties include Pheno limited to those outlined in our filings with the SEC, including our 10 P. M.
Speaker Change: Cause our actual results to differ materially from those projected or anticipated such risks and uncertainties include Pheno limited to those outlined in our filings with the SEC, including our 10 P. M.
Speaker Change: It does not undertake any obligation to update any forward looking information, except as required under the applicable law.
Speaker Change: <unk> undertakes any obligation to update any forward looking information, except as required under the applicable law.
Speaker Change: Joining us today, our vice chairman and chairman of the Board and Chief Executive Officer, Mr. Hu, <unk> and Chief Financial Officer, Mr. Zheng Young Mr. Who'll walk you through our recent strategic initiatives and business overview of the first half of the physical year 2024 and <unk>.
Mr. Hu: Joining us today are vice Chairman Chairman of the Board and Chief Executive Officer, Mr. Hu, <unk> and Chief Financial Officer, Mrs. Zen Young Mr. Hu walks you through our recent strategic initiatives and business overview of the first half of the physical year to incentive plentiful and took it.
Speaker Change: MS. Yang will answer your questions. After the prepared remarks, now I will turn the call over to our Vice Chairman and CEO, Mr. Hu <unk>.
Mr. Hu: MS. Yang will answer your questions. After the prepared remarks, now I will turn the call over to our Vice Chairman and CEO, Mr. Hu <unk>.
Speaker Change: You may begin.
Speaker Change: [noise], Oh, my God bless them.
Speaker Change: But is that like a hawk.
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Speaker Change: Well take a follow up with the.
Speaker Change: Oh gosh.
Speaker Change: I'll now turn the call.
Speaker Change: Yeah, well Pablo.
Speaker Change: Pablo.
Uh huh.
Speaker Change: Yes.
Speaker Change: Uh huh.
Speaker Change: I think that's how you know somebody onboard.
Speaker Change: That's helpful.
Speaker Change: Oh boy.
Speaker Change: Uh huh.
Speaker Change: And by that time.
Speaker Change: Yeah, Hi, and somebody that you probably.
Speaker Change: Yeah, Hi, and somebody here you probably.
Speaker Change: And here you'll work our associates have.
Speaker Change: And can you walk us, though is you've had.
Speaker Change: Thank you Sir.
Speaker Change: One thing you said.
Speaker Change: So.
Speaker Change: So really well.
Where does it go away.
Speaker Change: Where does it go away.
Speaker Change: We've seen some intelligent young in that tonnage at all.
Speaker Change: We've seen some intelligent young in the tonnage at all.
Charlie: Right exactly equally Charlie our Sundance Samsung is also the year, where they go up post upon.
Speaker Change: Right right exactly equally Charlie our Sundance.
Also the year, where they go quote poses upon that Glenn is going to leave it at that one gigawatt nuclear yugo wooden bar diesel if I got it.
Speaker Change: Well you can do without a doubt one gigawatt nuclear yugo wooden BOP on diesel if I got it.
Speaker Change: Good evening and thank you.
Speaker Change: Good evening.
Speaker Change: Before joining us on the highest performance Holdings earnings conference call for the first half of the fiscal year 2024 today. The conference call. We will be co hosted by me and our Chief Financial Officer, Mr. <unk> Yang for starters, I mean walk you through the Companys reasons strategic adjustment and correspond.
Speaker Change: Thank you for joining us on the highest performance Holdings earnings conference call for the first half of the fiscal year 2024 today. The conference call. We have co hosted by me.
Speaker Change: Our Chief Financial Officer, Mr. Yan Zheng young for starters, I mean walk you through the Companys recent strategic adjustments and corresponding initiatives.
Speaker Change: <unk> initiated.
Speaker Change: I'll give a business overview for the first half of the physical year 2024, and the management overlooked and we will have a Q&A session at the end to take questions from participants.
Speaker Change: He will give a business overview for the first half of the physical year 2024, and the management overlooked and we will have a Q&A section at the end to take questions from participants.
Speaker Change: So again it was okay.
Speaker Change: So again what again.
Speaker Change: And there are countries that growth, we can see that you've seen it a ton as you talk.
Speaker Change: And there are countries that growth, we can see that you've seen it a ton as you thought.
Speaker Change: Uh huh.
Speaker Change: Uh huh.
Speaker Change: On the R&D Alright, Danielle cases. This has done is kind of a vaccine.
The Army Alright, Danielle D cases has done and kind of thinking well then north Gila.
Speaker Change: North dealer.
Bingo.
Speaker Change: Bingo.
Bob Kuhn bingo.
Bob Kuhn: So Bob Kuhn bingo.
Speaker Change: They'll go through that process.
Bob Kuhn: It's horses go through that process.
Speaker Change: So there's no question that we.
Speaker Change: That brings me a single up against some big T.
Speaker Change: These things go up against some big T shirt.
Speaker Change: For example.
Speaker Change: Didn't see that.
Speaker Change: That sounds good.
Don: And again I think you should hold the only time can't helpful. Don.
Speaker Change: Yeah, it's shocking how does the only time can't helpful either begins.
Don: Neither begins a well maintained and this is on being a long ways off also the tongue to your policy.
Matt: Well Matt.
This is on being long ways off also the tongue sorry about that.
Don: And as you know you've seen it kind of is what do you see that.
Matt: You've seen it I can report to you.
Don: Without broadband are finding you don't sort of feeling again thinking.
Matt: Without broadband are finding don't Sofia one painting.
Speaker Change: Firstly I will elaborate on the company's strategic initiatives, we have implemented strategic transformation and upgrade successfully acquisitions. This summer have led to 234 year on year increase in total market value and 13 fold in that asset.
Speaker Change: Firstly I will elaborate on the company's strategic initiatives.
Speaker Change: <unk> implemented a strategic transformation and upgrade.
Speaker Change: Holly acquisition.
Speaker Change: I have led to 234 year on year increase in total market value and 13 fold in that asset.
Speaker Change: Amidst current Michael economic downtown and diminished risk appetite among investors, we have proactively responded to.
Speaker Change: MS Curran, Michael economic downtown and diminished risk appetite among investors, we have proactively responded to.
Market changes by implementing a series of strategic initiative on lines with company's long term development division aiming to sustain solid growth in this complex.
Speaker Change: Too much it changes by implementing a series of strategic initiatives online. This company's long term development division aiming to sustained solid growth in this contract.
Speaker Change: Involving my roommate.
Speaker Change: Involving my roommate.
Speaker Change: <expletive> also the tons you're talking again.
Speaker Change: <unk> also the fact that again, what kind of demand.
Daniel Moore: Daniel Moore.
Daniel Moore: Daniel Moore.
Speaker Change: So suddenly you want to know your Soundwalk Homewood did I'm doing that one would tell you.
Speaker Change: So suddenly one now you found work home with you the important doing that when we tell you.
Speaker Change: Yo Yo wallboard steel town pop Amazon sedan.
Speaker Change: Yo Yo wallboard steel town pop Amazon Wuxi, Dan would you like 10 minutes, you called Google don't fight.
Speaker Change: Tim if you can Google Don.
Is that does it.
Speaker Change: Is that did two things.
Speaker Change: I don't think so.
Speaker Change: So you're essentially use the club would you time to do that this is Julian Bayou and M D.
Speaker Change: So you're essentially use the club would you time to do that this is Julian Bayou and M D.
Speaker Change: Our sensor you there are you guys.
Speaker Change: Our sensor you Didnt argue maybe shine in the Fob homegrown systems.
Speaker Change: Bob Vogels system.
<unk>, we have found products.
Speaker Change: Togo, so EMEA we've found products.
A way of Wobble Javan Shire board of Sogou standing against the coupons.
A way of probable Javan Shire board of Sogou.
Speaker Change: And then again sort of twofold.
Speaker Change: Based on the company's long term vision and strategic positioning at the end of 2023.
Speaker Change: The company's long term vision and strategic positioning.
Speaker Change: End of 2023.
Speaker Change: Complete it.
Speaker Change: Completed.
Speaker Change: Transaction, who set of shareholders of <unk>, Inc. Borrowing base HPA close by 15, 1% of equity interests, becoming the controlling shareholder.
Speaker Change: Transaction with certain shareholders.
Speaker Change: Borrowing rates HPA.
Speaker Change: 51% equity interest in coming to its controlling shareholder as a risk.
Speaker Change: As a result of the financial statement consolidation as of December 31st 2023, H P. H total assets amounted to RMB 498 with.
Out of the financial statement consolidation.
Speaker Change: December 31st 2023, H P. H total assets amounted to RMB 498.
Speaker Change: Isn't that asset.
Speaker Change: Net asset of <unk>, one 2 billion H P. H total its market value.
Speaker Change: M. B 312 billion H P. H totaled 91 5 billion laying a solid foundation for the company to pursue acquisition strategy.
The $1 5 billion laying a solid foundation for the company to pursue its acquisition strategy.
Speaker Change: Uh huh.
Uh huh.
Speaker Change: You can see why the Singapore father, Utah, Ken Dennard Samira Who'll proceed.
Speaker Change: Go see why the Singapore bother you time can be done there could we see that.
He is a senior won't bother, giving onsite triangle family their own local athene gotten colony Boswell Gulf requires who doesn't know sooner pods atlas's Umpqua Youre still able to book you know why that would have gone through.
Speaker Change: She is a senior won't bother, giving onsite triangle family it alone political or kindergarten colony Boswell Gulf requires who doesn't know what buyback losses in Guadalajara.
Speaker Change: We bought two books, you know a while back.
Speaker Change: Oh Wow.
Speaker Change: Why though.
Speaker Change: Causal for that deal with how to assemble the Lodi.
If you go back to a code to assemble the Lodi.
Speaker Change: Didn't think I can meet a hurdle.
Speaker Change: Didn't think I can meet a hurdle.
Speaker Change: In February 2020, the company signed a framework agreement they Singapore private trading enterprises limited aiming to leveraging Michael's strengths in financing and M&A on a global scale to escalate with intelligence and group development strategies and to initiate.
Speaker Change: In February 2020, more the company signed a framework agreement they single pool.
Speaker Change: But trading enterprises limited.
Speaker Change: Two leveraging Michael strengths in financing and M&A on a global scale to escalate with intelligence and group development strategies and to initiate a new phase of strong growth via commentary.
Speaker Change: A new phase of strong growth.
Speaker Change: Our commentary.
Speaker Change: Grocery is white goods and these panels on implementing several investment projects.
Speaker Change: Grocery with white goods and these panels on implementing several investment projects.
Speaker Change: A terrible thing well done.
Speaker Change: And well done.
Speaker Change: So the army are full time, yes, some by the end of I think a year will go up.
Speaker Change: The army are full time, yes, some money and I think a year will go up.
Speaker Change: Yeah.
Speaker Change: Yeah.
Speaker Change: And then somebody had gone through that we already own.
Speaker Change: And as <unk> gone through that goodwill.
Speaker Change: <unk> also youll <unk>, social evil and.
<unk> also.
Speaker Change: <unk> social evil.
Speaker Change: See figure on it.
Speaker Change: The figure on the air.
Speaker Change: Some banks, maybe able to us thinking that Giga <unk> home with the details of yield from it.
Speaker Change: Some banks, maybe able to us signing that Giga <unk> home with the details of yield from it.
Speaker Change: None of the.
Speaker Change: None of the.
Speaker Change: The T cells.
Speaker Change: Like our T cells, a year would be.
Speaker Change: Yeah.
Speaker Change: Yeah.
Speaker Change: Women, because oh I forgot is that by now you should.
Speaker Change: Women, because I don't think our thinking is that.
Speaker Change: By now you should.
Speaker Change: She also bring more of the cool pool.
Speaker Change: She also bring more of the solid whole pool.
Speaker Change: Google call that social grim or you need to know.
Speaker Change: Google call that sales of <unk>.
Speaker Change: Yeah.
Speaker Change: <unk> been gone up I Wonder you biopsy deal.
Speaker Change: <unk> been gone up I Wonder you biopsy deal for <unk>.
Speaker Change: So I wish I knew.
Speaker Change: And the second part.
Speaker Change: And the second part.
Speaker Change: And overall of the company's business performance for the first half of the physical year 2024.
Speaker Change: An overload of the company's business performance for the first half of the fiscal year 2024.
Speaker Change: Our core business is <unk> retail business.
Speaker Change: Our core business is retail business.
Speaker Change: In the first half of the fiscal year 'twenty 'twenty 2024, that's.
Speaker Change: In the first half of the fiscal year, 2020 'twenty four you have solid.
Speaker Change: Solid defying cautiousness and seeking innovation in some business institution business expansions and assets in at 100 tons of 9% and 456% year on year.
Speaker Change: Solid quarter.
And speaking of innovation in some business institution business expansions in assets in 100 tons of 9% and 456%.
Speaker Change: Increase in the transaction value an outstanding balance of the public response product.
Speaker Change: The increase in the transaction value an outstanding balance of the public response product.
Speaker Change: Institutional clients respectively.
Speaker Change: Institutional clients respectively.
Speaker Change: The Parisian done initially award well maintenance is hungry to eat you should 19 lender.
Speaker Change: The Parisian done initially award.
Speaker Change: Dances hung tier two E G siddhartha humans.
Speaker Change: Don't guarantees in tons in the South island meet her unique.
Speaker Change: Guarantees in tons in the South Island meet her you can tell.
Speaker Change: Golf ball and meet Chunghwa E shields.
Speaker Change: Helpful and meet Chunghwa E shields.
Speaker Change: Yeah. So you showed us shut down their balance sheet for that that Asia Gulf Suzanne Donohoe, though when when do not cohort.
Speaker Change: Yeah. So you showed us shut down their balance sheet for that that Asia golfers and Yang Zhao harder when when do not cocoa yields.
Speaker Change: No.
Speaker Change: No.
Speaker Change: So our <unk> business.
Speaker Change: So our <unk> business, we pursue our long term strategic strategy and suitability principle, focusing on enhancing product selection and marketing service and strengthening operations and system support side.
Speaker Change: As shown a long term strategic strategy and suitability principle, focusing on enhancing product selection and marketing service and strengthening operations and system support side.
Speaker Change: Significant market fluctuations, we have successfully stabilized both our customer base and business model.
Speaker Change: Significant market fluctuations, we have successfully stabilized both our customer base and business model.
Hum too Jim well men cable. One example phone fall off one at a time here.
Speaker Change: Jim will then cable one example from fall off one at a time here.
Speaker Change: So those are the Goldman which isn't going to tell me about <unk>. He got.
Speaker Change: Although the gum, which isn't going to tell me you buy Nissan got Samsung <unk>. He got some extended time industrial town for Ganesh how go about music.
Speaker Change: Just in time industry, Tom Fogarty, toggle up Atlanta, Georgia.
Speaker Change: We have continued to diversify our product offerings by increasing the number of public spray foam product suppliers that we collaborate with from 103 to 107 covering over 90% of the products currently available in the market.
Speaker Change: We have continued to diversify our product offerings by increasing the number of public spray foam product suppliers that we collaborate with from 103 to 107 covering over 90% of the products currently available in the market.
Speaker Change: Yeah.
Speaker Change: Yeah, well I mean, yeah go again, a bolt on for T cell.
Speaker Change: Well I mean, yes.
Speaker Change: Again, a bolt on for T cell.
Speaker Change: Kind of Bloomington, Homewood hanging things down.
Speaker Change: I'm kind of Bloomington, Homewood Hanjin thing town.
Speaker Change: Yeah.
Speaker Change: How is the team in the engine codes than what can be your.
Speaker Change: In closing what can be your.
Speaker Change: <unk> are against the worst thing got outstanding Sound West Bengal famine.
Speaker Change: Oh.
Speaker Change: What then got outstanding Sound West Bengal famine.
<unk>.
Speaker Change: Thanks.
Yeah.
Speaker Change: Can you attribute to your account.
Speaker Change: Account system with functional investment advisory product to enhance client investment theory.
Speaker Change: Account system with functional investment advisory product to enhance client investments with sea Ray.
Speaker Change: Resulting in a 13% increase in per capita investment amounting from M Beach.
Speaker Change: Nothing in a 13% increase in per capita investments amounting from RMB.
Speaker Change: 29500 to RMB 33500.
Speaker Change: 29500 to RMB 33500.
Speaker Change: And while many attendees had weakness in our funds.
Speaker Change: And while many attendees has been.
Speaker Change: Continued indulgent and put a powerful going so when did that yeah well into Europe.
Speaker Change: Printing G E Celgene did put a powerful coolant so when did that yeah Mylan Doyle.
Speaker Change: We implement a tier REIT management system for financial advisors, facilitating targeted marketing efforts, which have stabilized a number of financial advisors at approximately 20000.
Speaker Change: We implement a tier REIT management system for financial advisors, facilitating targeted marketing efforts, which help us stabilize the number of financial advisors at approximately 20000.
Speaker Change: And well my town Carla they've got Perique agenda could you watch impact you as soon as the clock.
Speaker Change: Well Midtown Carla they've got Creek agenda could you what impact you as soon as the clock.
Speaker Change: Classroom Crazy, if you see that either I think C C.
Speaker Change: Partial gland Crazy if you see that data.
Speaker Change: And it has to come back on in D. C. Charlotte Houston, our coffee tea and this has to do that so you don't see yet.
Speaker Change: And then the it has to come back on a D. China T C. Charlotte Houston, our coffee tea and this has to do that so you don't see yet.
Speaker Change: We further enhanced and upgraded E platforms, and a financial plan that platform with a focus on digitalization and intelligent exploration new features like financial planners dashboard and crappy system has been introduced to elevate.
Speaker Change: We further enhanced and upgraded <unk> platform and our financial plan that platform with a focus on digitalization and intelligent operations.
Speaker Change: Features like financial planners, dashboards and crappy system has been introduced to elevate.
Speaker Change: His experience for both customers and financial advisors.
Speaker Change: <unk> experience for both customers and financial advisors.
Speaker Change: Okay.
Speaker Change: Okay.
Speaker Change: There you go you know we'll come in women.
Speaker Change: There you go you know we'll come in women.
Speaker Change: So you cannot answer to go see it almost thought again Jim.
Speaker Change: So you cannot answer to go see it all Moshe thought again Jim.
Speaker Change: So as you do that you got giggling here, where they sit on Golan is honestly tell you can back so those are the two months.
Speaker Change: Well my sense is that they got giggling here, where they sit on Goldman is honestly, Joe you can back so those are the two nuts.
Speaker Change: Google also gleam more houses were boggy no.
Speaker Change: <unk> also gleam more houses were by no.
Now, we're more Arthur wood or somebody on Colombia things on ops, you did some base costs with annual base.
Speaker Change: Now when more Arthur wood or somebody on E <unk> things on us either somebody who I see that new base.
Speaker Change: Our institutional business achieved significant breakthrough.
Our institutional business achieved significant breakthrough.
Speaker Change: Channel more of those validated our one stop trading platform.
Speaker Change: Channel more of those validated our one stop trading platform.
Speaker Change: With up to the system and functionalities.
Speaker Change: With up to the system and functionalities.
Check sense amongst institutions, resulting in transaction value of public raised funds of over RMB. Four 8 billion. This outstanding balance of RMB 285 billion, representing a one three times and four six times.
Speaker Change: Check sense amongst institutions, resulting in transaction value of public raised funds of over RMB. Four 8 billion. This outstanding balance of RMB, two 8 billion, representing a one three times and four six times increase year on year.
Speaker Change: On year.
Speaker Change: Lee.
Speaker Change: Effectively.
Speaker Change: And one of my time going in Lula whiteboard, she thought through at 10 Bank cool Cleveland towards <unk> Com co op voucher.
Speaker Change: Wilmington go in Golar whiteboard, she thought through at 10 bank local crude.
Speaker Change: <unk> got volatile.
Speaker Change:
Speaker Change:
Speaker Change: No.
Speaker Change: Uh huh.
Speaker Change: He has successfully introduced external channel resources right, ensuring cost control to first of all it take cooperation in reaching the target client of bank and insurance companies.
Speaker Change: He has successfully introduced external channel resources right, ensuring cost control to first silicate corporation in reaching the target client of bank and insurance companies.
Speaker Change: Uh huh.
Speaker Change: Uh huh.
Speaker Change: Well I mean, you shouldn't need one cannot grant program.
Speaker Change: Well I mean, you shouldn't need one cannot grant program.
Speaker Change: Because there's some quotes on Hawaii and you've seen.
Speaker Change: Cause at Stanford Downhole, what you've seen I mean thing you had been talking about on the pool.
Speaker Change: Yeah, I mean thing you had been talking to the Windsor Sarnia Daniela talented causal blah blah blah.
Windsor Sarnia, yeah, Daniela talented thoughtful about.
Speaker Change: Quarter, a lot to prove on the cobalt sensor, yet where you couldn't go that.
Speaker Change: The quarter allowed us to move on to tell what sensor yet where it couldn't go there dealing with do you go to Luke and then on the alcoholic.
Speaker Change: And then on the alcoholic.
Speaker Change: Custodian banks transitions has been successfully completed as we have established long term strategic partnerships with large list of things such as Penang and Minsheng Bank.
Speaker Change:
Dan: So Dan Thanks transition has been successfully completed.
Speaker Change: We have established long term strategic partnerships with large list of tasks, such as Ping, an and Minsheng bank.
Speaker Change: Actual investment amongst with freezing.
Speaker Change: Actual investment amongst the key thing.
Speaker Change: $3 1 billion laying a solid foundation for more financial institution.
Speaker Change: $3 1 billion laying a solid foundation for financial institution assets.
Speaker Change: Yes.
Speaker Change: Yeah.
And the signing of a man.
And do you think of them in.
Speaker Change: The labor I mean, if I'm, yeah, well I mean, who do you see granite towards young timberland Commvault go up with them.
The labor I mean, if I'm, a woman who what do you see granite towards young timberland Commvault go up with them.
Speaker Change: About things up.
Speaker Change: Oh things up.
Jenny.
Speaker Change: Ginny.
Speaker Change: The Gulf of Guinea jump in Washington County.
Speaker Change: The Gulf of Guinea jump in Washington County.
Speaker Change: They're pretty easy on quantity is shown in note 10 recap some bang <unk> <unk> Xeljanz hotels and Super Fancy, Uruguay, then needs at the time you also have the easy near sourcing.
Boise on climate as shown in the tent, we got some bang <unk> <unk> Xeljanz hotels and Shuffle fantasy Uruguay, then need through time you also to you she needs also.
Speaker Change: Consequently herself, who they go through their social video and Palm Beach.
Speaker Change: Answer gladly herself, who they go through their social video and Palm Beach.
Speaker Change: So there's a lot I mean, they're supposed to.
Speaker Change: Dan This is.
Speaker Change: I mean, just because it didn't cheat.
Speaker Change: It didn't cheat.
Speaker Change: Internal management efficient management to drive cost reductions and compliance operation insurers route and efficient.
Speaker Change: Internal management.
Speaker Change: Patient management drives cost reductions and compliance operation insurers route and efficient.
Speaker Change: We have established a sustainable mechanism for cost reduction and savings the company.
Speaker Change: We have established a sustainable mechanism for cost reduction and savings the company.
Speaker Change: Reduced management and sales expense by 47% year on year through marketing strategist adjustment upgraded payment method workforce and office day reduction and so on the DAU compromising management efficiencies.
Speaker Change: Hughes management and sales expense by 47% year on year.
Speaker Change #100: Two marketing strategist adjustment, a breakage payment method workforce and office day reduction and so on the DAU compromising management efficiencies.
Speaker Change: A woman.
Speaker Change #101: A woman in the San Juan Yeah. So Robert this is.
Speaker Change: In the San Juan Daniel So where do you see them.
Speaker Change: Oh, Great Hey, Shane Young Girl Gracie mansion.
Downtown Calgary Paging younger Gracie.
Speaker Change: I mean, Chad good good history here about some things you go the year War.
Speaker Change #102: Good good to hear about some things you go the year was 19 and counsel they will come to Tim Lugo, Bonnie foggy that standby agile.
Senior counsel, they will come to dream frugal, Bonnie far greater standby agile.
Speaker Change: He hasn't making active role in complying with the regulation and compliance policies.
Speaker Change #103: He hasn't making active role in complying with the regulation and compliance policies by providing strict compliance training and hence the enforcing compliance disappearing clarifying responsibility at all levels to ensure that the business that business facilities and interns.
Speaker Change: Providing strict compliance training and hence the enforcing compliance disappearing terrifying responsibility at all levels to ensure that the business that business facilities and internal controls of our headquarters and all centers fully complying with relevant laws and regulations.
Speaker Change #104: Controls of our headquarters and all centers fully complying with relevant laws and regulations.
Speaker Change: Yeah.
Speaker Change #103: Yeah.
Speaker Change: But downtown seem to your clients and to tell them that well.
Speaker Change #105: But downtown seem to your clients and to tell them that well.
Well I mean, Jon Tisch, Jixi ear when dentists with her in this because I'm doing pop Guernsey employee that you see in one minute. It sounded you walk pengelly farming pod that you wish you had home. However, one are you able to pull that E. G. G go yeah, but well maintain Portland is in going through that didn't get any horses.
Speaker Change #106: Well I mean, Jon Tisch Jixi, you went through that in this because I'm doing pop Guernsey employee that unless you want me to tell you what <unk> found pod that you wish you had hope everyone are you able to pull that E. G. G go yeah, but well maintain Portland is in going through that didn't get any horses.
Speaker Change: Wei cohort table thing you too thin boy on quite a journey.
Wei cohort he won't be too thin boy on Nevada.
Speaker Change: They single pool.
Speaker Change #107: They single pool.
Speaker Change: Well my young sushi Accredo sort of the heart.
Speaker Change #108: No one was young sushi, if we don't solve the hotline and you call it.
Speaker Change: And you go Wow Bajaj teasing routine yet care about once a year, where that caught sushi things out well at times.
Wow Bajaj teasing 14, yes care about once a year, where that caught sushi things out for <unk>.
Based on this economic challenges.
Speaker Change #109: Based on these economic challenges.
Speaker Change: We'll continue to embrace market changes is a study in.
Speaker Change #109: We'll continue to embrace market changes is a study in.
Second our strategic plans by fostering business synergies, so far and expanding our wealth management and institutional business, we will continuously enhance the company's competitive edge and market influence provide.
Speaker Change #110: Second our strategic plan by fostering business synergies, so far and expanding our wealth management and institutional business, we will continuously enhance the company's competitive edge and market influences.
Speaker Change: Providing customers with high quality and more diverse financial and Nonfinancial service.
Speaker Change #111: <unk> customers with high quality and more diverse financial and non financial service and why maybe the opposite driving.
Speaker Change: Y media driving.
Speaker Change: Digitization and intelligence development to improve service experience.
Speaker Change #111: Digitization and intelligence development to improve service experience, ensuring sustainable growth and long term development of the company.
Speaker Change: Turing sustainable growth and long term development of the company.
Speaker Change: Oh go ahead go over the Guangzhou <unk> <expletive> I E.
Speaker Change #112: Oh go over the biodiesel producer well I mean should I E.
Speaker Change: Yeah, I think the weird adequate long he's got a yes.
Speaker Change #113: Yeah, so weird adequate along his yet I guess.
Speaker Change: I appreciate your attention and support and look forward to jointly with the future success of the company.
Speaker Change #114: We appreciate your attention and support and look forward to jointly predicting the future success of the company.
Speaker Change: Hey, guys.
Speaker Change #115: Do you guys.
Speaker Change: Wasn't that high right now.
Speaker Change #115: It wasn't that high right.
Speaker Change: Now the floor open for the Q&A section.
Speaker Change #116: Now the floor open for the Q&A section.
We will now begin the question and answer session, if you'd like to ask a question. Please press star one on your telephone to cancel your request. Please press star one again.
Speaker Change #117: We will now begin the question and answer session, if you'd like to ask a question. Please press star one one on your telephone to cancer.
Speaker Change #118: So your request please press star one again.
Okay.
Speaker Change #118: Okay.
Speaker Change: Once again to ask question. Please press star one one on your telephone.
Speaker Change #120: Once again to ask a question. Please press star one on your telephone.
Speaker Change: Aimed to be announced.
Speaker Change #119: Named Japan.
Speaker Change: Yes. Currently no question is from the line I would like to hand, the call back to management for closing.
Speaker Change #121: Yes. Currently no question is from the line I would like to hand, the call back to management you talk closing.
Speaker Change: Okay.
Speaker Change #121: Okay.
Speaker Change: Okay. Thank you very much for attending today's conference call. If you have any questions feel free to contact us anytime. Thank you.
Speaker Change #122: Okay. Thank you very much for attending today's conference call. If you have any questions feel free to contact us anytime. Thank you.
Speaker Change: Thank you. The conference has now concluded. Thank you for attending today's presentation. You may now disconnect your lines.
Thank you. The conference has now concluded. Thank you for attending today's presentation. You may now disconnect your lines.