Q2 2024 Kanzhun Ltd Earnings Call
Speaker Change: I'm the one who's been waiting for you, I'm the one who's been waiting for you, I'm the one who's been waiting for you, I'm the one who's been waiting for you, I'm the one who's been waiting for you, [inaudible]
Speaker Change: Ladies and gentlemen, thank you for standing by, and welcome to the Kenjian Limited, 2nd quarter 2024 financial results conference call. At this time, all participants are in listen only mode.
Speaker Change: After the speaker's presentation, there'll be a Q&A session. Today's conference is being recorded. At this time, I would like to turn the conference over to Ms. Wenbei Wang. Head of Investor Relations. Please go ahead, ma'am.
Speaker Change: Thank you, operator. Good evening and good morning everyone. Welcome to our second quarter, 2018 for an earnest conference call. Joining me today are our founder, Chairman and the CEO of the journalism project and our director and the CFO Mr. CEO of the challenge.
Speaker Change: Before we start, we would like to remind you that today's discussion may contain forward-looking statements.
Speaker Change: which has based on management's current expectations and observations that in more unknown and unknown risks, uncertainties and other factors not under communist control, which may cause actual results, performance or achievements of the company to be maturity different.
Speaker Change: The company caution you not to place our dual eyes on forward-looking statements and do not undertake any obligations to update this forward-looking information except as required by law.
Speaker Change: During today's call, management will also discuss certain non-gap financial measures for comparison purpose only for the initial of non-gap financial measures and the reconciliation of gag to non-gap financial results. Please see the earnings release issued earlier today.
Speaker Change: In addition, a webcast replay of this conference call will be available on our website at IR.chippin.com
Speaker Change: We said, I will now turn the court to Jonathan, our founder, Chairman and CEO.
Speaker Change: Hello everyone, welcome to our channel, I am Arma Chen and I will talk to you later.
Arma Chen: Hello everyone, thank you for joining our company's second quarter, 2020 for the earliest conference call.
Arma Chen: [inaudible]
Speaker Change: Tong Li Zeng, Zhang, Bai Wen'er Shi, Ga Shuo Ru, Shi Jiu, Dian'er Yu, Tong Li Zeng, Zhang, Bai Wen'er Shi Jiu, Ajiu, Shi Jien, Jing Li Ren, Si Jien, Dian'er Yu, Tong Shi, Ko Chong, Gu Chen, Ji Yi, Fei Yong, Hou, Jing Qiao Ren, Jing Yu Ren, Wei, Xi Jien'er Yu, Tong Li Zeng, Bai Wen'er Shi Jiu Zhang, Bai Wen'er Shi, Ga Shuo Ru,
Speaker Change: 2.2.2.2.5.4.6.5.4.6.5.
Speaker Change: Tongbin is now back to production.
Speaker Change: 26 years ago, the company's heart is completely different from the past.
Speaker Change: In 2013, the Communist Party of Shara Yen and the Fufei of Xi Zhang, Kong Shu, Wei Wu Bai, Jiu Shi Waz, Tong Bin, Zhang Bai, Xi Xi Yi
Speaker Change: I will start with our financial members.
Speaker Change: in the second quarter, the counting achieved calculated cash billings of RMB 1.95 billion, up to 10% year. Our cash grant will reach RMB 1.92 billion, up to 29% year.
Speaker Change: We recorded a net profit of RMB420 media.
Speaker Change: Mi Wang, our Adept in Nating Kong, which excludes share-based compensation expenses, those two are in the 112 million, up to 26% a year.
Speaker Change: In the 6th quarter, the average verified and may you, on the bus to a point-out group by 25% year, 254.6 media.
Speaker Change: From January to June this year, the company attracted around 28 million newly added verified users.
Speaker Change: the total paid enterprise customers in the 12 months and need June 30, and even before, rich 5.9 million. Representing 31% young year goes.
Speaker Change: A few years ago, the Chinese government was still in the same position as the Chinese government. Because we are in the same position as Yu Qi Xiang.
Speaker Change: I'm really proud of you. In the second episode, I'm going to tell you about Zhang Mingxu. Zhang Mingxu is the leader of our team.
Speaker Change: [inaudible]
Speaker Change: Now, she's going to be with you.
Speaker Change: Qi Yan is the one who will teach the Yu Wang
Jiang: Gui Zhang, Jiang.
Speaker Change: are well-cached buildings in the second quarter still have a decent year on year growth. However, we've heard on a quote on culture basis and a little bit lower than our expectation.
Speaker Change: This was mainly due to weaker demand from the procurement site in the later half of the second country.
Speaker Change: There were relatively fewer enterprise users and more job seekers in the market, which is what we refer to as a high simulation.
Speaker Change: In this case, most enterprise users found it easier to hire. For example, a project team that took three months to feel all the positions in the past, now only takes two months. Reducing enterprise users desire to spend more money on recruitment.
Speaker Change: However, we still find that the growth trend of recruiters is still good. There are two pieces of evidence: First, the number of new recruiters in the second quarter exceeds that of the same period last year. Second, the average monthly active users in the second quarter...
Speaker Change: Zhang, Zhang, Tong Mi, Zhenzha, Bai, Shixi
Speaker Change: [inaudible]
Speaker Change: We are now in the A.I.D. and Zhang YI.I.I.U.P.
Speaker Change: This is a good news.
Speaker Change: We noticed that the growth trend of enterprise users is still good. There are two groups. First, in the second quarter, the number of newly added enterprise users was higher than that of the same period last year.
Speaker Change: Second, the average monthly active user of enterprise users increased by 17% young years.
Speaker Change: You might first who have long been following us, know that user growth is the core growth driver for our ram new growth. We still have a good growth of enterprise users in the second quarter. This is a good news for the company.
Speaker Change: We are going to make a plan for the first time in the world. In the next episode, we will be going to the next episode.
Speaker Change: [inaudible]
Speaker Change: 2nd, Lao Ming Yunji, Putsu, Yuxi is a 7-year Lao Ming Yunji, Putsu, this 7-year-old Putsu is a 7-year-old Putsu, this 7-year-old Putsu is a 7-year-old Putsu.
Speaker Change: [inaudible]
Speaker Change: We believe the second quarter performance is a temporary situation, long-term step-to-growth opportunities remain strong.
Speaker Change: Our confidence is grounded in three factors.
Speaker Change: First, the Chinese market is a huge economy with the highest small and medium-sized enterprise activities and the largest number of enterprises.
Speaker Change: Second, there is a persistent shortage of labor supply, particularly among younger generation.
Speaker Change: which is unlikely to change in the near future.
Speaker Change: Third, our efficient service model is best suited to address a challenges presented by the first two factors.
Speaker Change: First of all, we need to do the work of this time.
Speaker Change: Today, Zhuang Yang is the next step.
Speaker Change: On the part of the situation, the company's management team believed we should do what is best suited for the moment. Today, I will talk about three things.
Speaker Change: Dian Shui, Chen Nian Li Renang, the Global Lawyer, Shijian
Speaker Change: [inaudible]
Speaker Change: In the future, Wenbei Wang, Peng Zhao, Huang Jinghai and Chen Gui
Speaker Change: [inaudible]
Speaker Change: The first scene is to ensure the four-year profit target during challenging times. Confidence is crucial for everyone, no matters, calling matters, calling employees, or potentially investors and the prospective talent.
Speaker Change: In tax terms, confidence is more valuable than gold. Ensure in fulfilling ability for the year will help to sustain confidence in the company which can be achieved through further refinement of our management.
Speaker Change: [inaudible]
Speaker Change: [inaudible]
Speaker Change: The second thing is to invest the more resources on new growth drivers. For example, in the Bluequarra Manufacturing Industry, there are maybe some new dollars. We will continue to invest in the future.
Speaker Change: Beijing is a Communist Party, the Communist Party, and the Chinese Communist Party is a great concern. You are now in the hands of the United States. Don't forget the Communist Party, Wu Yu Lanlin, who is here to meet you.
Speaker Change: Yu Zhang, Peng Zhao, Peng Zhao, Peng Zhao, Peng Zhao.
Speaker Change: to briefly review the Blue-Colour Manus Factory Industry we have talked before. The background is the concept relationship between factories, workers, platforms, and agents. In addition to many historical issues, have made it challenging for online platforms to serve the Blue-Colour Manus Factory Industry.
Speaker Change: [inaudible]
Speaker Change: The history is three years ago, we started by purifying the job seeking and implementing environment through what we caught the coach project.
Speaker Change: The Runding Intuition of this initiative has two. First, is to protect the overall drop-sick and process of the drop-sicker. Second, was to help new color agents and organizations make money essentially.
Speaker Change: [inaudible] Shanghai, Shanghai, Shanghai, Shanghai, Shanghai,
Speaker Change: Episode 1, Episode 1, Zhang Xingdei, Jioru Liu
Speaker Change: [inaudible]
Speaker Change: The current situation is after a tough day, the long-standing issue of bad or low-quality agents, driving out good ones across a light-requimant platform, is beginning to improve.
Speaker Change: This policy of shit has already happened, good guys who commit to treating job seekers with integrity, posting authentic job details and fairy information, and now is seeing better results.
Speaker Change: We have men distrustworthy ages as platform certified contests elect.
Speaker Change: The latest news is that Taiwan is in the 20th century, and the world is completely different from the first time in the world, and the first time in the world is completely different.
Speaker Change: This is a good...
Speaker Change: Xi Jiang, and I feel that today is our last and last time.
Speaker Change: The latest data is our Pontus flag project generated over our only 40 million Israeli in the second quarter, which is much higher than that in the first quarter. This good size make me feel that our strategy and the persistence in the past few years are correct.
Speaker Change: The third year is the Hanan Yufan Zhan, the head of Zhou Zhi, the head of Zhou Qing
Speaker Change: Many of them are not from the past, but from the past, and from the past, and from the past, and from the past.
Speaker Change: [inaudible]
Speaker Change: This is the post-GV in the Chinese sub-Challenge of Da Qianan, Ma Shi
Speaker Change: This is a long-term problem, but the problem is very important. In a way, we will be able to solve the problem in a few days.
Mo Jianmu: Mo Jianmu, who is in the old Wenya, has been in the military, and has not yet reached the end of the war.
Mo Jianmu: The start scene is our overseas business.
Speaker Change: As we all know, economies are cyclical and this economy cycles are also an out of seek across different countries and regions.
Speaker Change: large companies with a strong global presence can effectively utilize this regional big shift to support sustainable growth.
Speaker Change: In particular, both to Ping has pioneered our current model globally.
Speaker Change: This model is very likely to provide value and gain space for survival and development in various regional markets through localization, hybridization and evolution.
Speaker Change: Wang, we are seeing promising progress in Europe and Asia, it's still too early to report on results.
Speaker Change: is the most important thing in the world.
Speaker Change: Zhang, Zhang Xin Xin, Chen Qiang, our trust in the organization.
Speaker Change: Now, we are going to discuss this issue with the President of the United States.
Speaker Change: [inaudible]
Speaker Change: I'm going to be the first to meet you in the world.
Speaker Change: [inaudible]
Speaker Change: Last but not least, it's important to address confidence again.
Speaker Change: particularly in terms of strengthening the returns for our shareholder, who have constantly supported us since our IPO.
Speaker Change: for example, we will continue to increase our share-by-back efforts. We have bought over US$880 medium, the purchase in the past four months. It's all will help to reinforce the valuable confidence of our shareholders and management.
Speaker Change: My部分 is this time, we are going to introduce our investigation.
Speaker Change: I will now turn over to our sustainable field for the overall view of our financial Thank you.
Speaker Change: Thanks, Jonathan. Hello everyone. Now, let me work through the details of our financial results of the second quarter of 2024.
Speaker Change: In this quarter with the lever, healthy and sustainable top line and the bottom line drops.
Speaker Change: Calculated cash experience and the revenues grew by 20% and the 29% year on year respectively.
Speaker Change: [inaudible]
Speaker Change: We continue to penetrate into different categories of users, especially in blue-collar sectors.
Speaker Change: and Meng Mi didn't size the enterprises and the users from lower-tier cities.
Speaker Change: as a result, Ramino contributions from those sectors continue to.
Speaker Change: Incredits.
Speaker Change: Paid and the price customers in the 12 months and did a true in 30, 2024, increased by 31 percent, year on year to 5.9 million.
Speaker Change: The pain ratio was higher than last year, but sequentially kept stable. We are happy to see that.
Speaker Change: AARPPU, average paying user of paid users, increased around 3% year on year and 3% sequentially. Rating the size of the level in the past four quarters.
Speaker Change: Part of the reason was that revenue from Kia comes out through small and middle-sized accounts. But the more important it was our effort to increase the client usage by offering high quality and targeted products and services.
Speaker Change: is moving to the cause and expensive sites, excluding share-based accommodations.
Speaker Change: The Justice Operating Cost and expenses increased by 20% year-on-year to RMB 1.3 billion and the lead to the Justice Operating Profit of RMB 6.
Speaker Change: 160 million in the quarter of 52% year on year.
Speaker Change: A digestive operating margin reached a 34.4 percent, up by 5.3 percentage points compared to the same quarter last year and a heat and all time fast.
Speaker Change: [inaudible]
Operator: Ladies and gentlemen, thank you for standing by and welcome to the Kanzhen Limited Second Quarter 2024 Financial Results Conference Call. At this time, all participants are in listen only mode. After the speaker's presentation, there will be a Q&A session. Today's conference is being recorded.
Speaker Change: Continued is a board fan.
Speaker Change: Sales at a marketing expense is increased by 16% year on year to R&B 555.0 in this quarter.
Wenbei Wang: At this time, I would like to turn the conference over to Miss Wenbei Wang, Head of Investor Relations. Please go ahead, ma'am. Thank you, operator. Good evening and good morning, everyone. Welcome to our second quarter 2024 earnest conference call.
Speaker Change: This increase was mainly proven by our enhanced investment in customer acquisition as well as higher sales conditions.
Wenbei Wang: Joining me today are our founder, Chairman, and the CEO, Mr. Jonathan Peng Zhao, and our director and the CEO, Mr. Wei Xiong. Before we start, we would like to remind you that today's discussion may contain forward-looking statements which have based on management, current expectations, and observations that involve unknown and unknown risks, uncertainties, and other factors, not under company control, which may cause actual results, performance, or achievements of the company to be materially different.
Speaker Change: R&D expenses increased by 21% year or year to R&D 404 million in this quarter.
Speaker Change: The excluding sharebase to compensation.
Speaker Change: The expenses are adjusted on the expenses increased of by 28% year on year, to R&B 344 meeting.
Speaker Change: This increase was primarily proven by our earlier investments in AI infrastructure, which generated a fire depreciation cost.
Wenbei Wang: The company caution you not to place undue reliance on forward-looking statements, and do not undertake any obligations to update this forward-looking information, except as required by law. During today's call, management will also discuss certain non-depth financial measures for comparison purpose only, for the submission of non-depth financial measures and the reconciliation of gap to non-depth financial results. Please see the earnings release issued earlier today. In addition, a webcast replay of this conference call will be available on our website at ir.gp.com.
Speaker Change: Our GNA expenses increased by 29% year-on-year to R&B 261 million in this quarter.
Speaker Change: of the Justice GNA expenses increased by 21% year on year to arm the 1503 meeting mainly due to increased employee related expenses.
Speaker Change: [inaudible]
Speaker Change: or net income or foreign beach.
Jonathan Peng Zhao: We set out our now-turned-the-call to Jonathan, our founder, Chairman, and the CEO.
Speaker Change: 417 million in this quarter of 35% year or year. And our adjusted net income in this quarter reached R&B 700 and the 19 million 719 million and increased by 26% year or year.
Jonathan Peng Zhao: Hello, everyone.
Jonathan Peng Zhao: Welcome to our company's second quarter, 2020 for the earnings conference call. [inaudible] the financial growth rate Liu. Meanwhile, our adjusted net income, which excludes share-based compensation expenses, those two are on B720 million, up 26% young years. In the second quarter, the average verified MAU on the bus shipping app grew by 25% young year to 54.6 million. From generate to June this year, the company attracted around 28 million newly added verified users.
Speaker Change: We expect that our share-based compensation expenses reached the peak level in this quarter, and will gradually decline in the coming quarters.
Speaker Change: We are now reviewing stock compensation speed and studying some schemes.
Speaker Change: which might even accelerate the process.
Speaker Change: I'm sorry.
Speaker Change: NetTash provided by the operating activities, school-buyant.
Speaker Change: 14% year on year two R&B.
Speaker Change: 860 9 minutes for this quarter as of June 30th
Speaker Change: 2024, or a cash and a cash equivalent, short term time deported.
Speaker Change: and the short-term investment totaled as...
Speaker Change: Orm B
Speaker Change: 14.3 billion. Not fully in the past four months, we have repurchased a total consideration of US$888.
Speaker Change: Milit, which demonstrated our commitment in shareholders return a long-term confident of our business.
Speaker Change: and now for our business outlook.
Speaker Change: For the third quarter of 2024, we expect our total revenues to be between R&B 1.9 billion and 1.92 billion R&B, a year on increase of 18.2% to 19.5%.
Speaker Change: Let's conclude our prepared remarks and a way we'll act to answer questions. Or create her please go ahead with the cute.
Jonathan Peng Zhao: The total paid enterprise customers in the 12 months ended June 30, 2024, which 5.9 million, representing 31% young year girl. In the second quarter, the sales of the first quarter, the same growth can still be reduced, but the environment is weak, because of its own budget, it is also low. The main thing is that in the second quarter, the customer needs to be weak. The customer is less, the customer is less, the customer is less, which is the high level of CBB, which is what we call CBB, which is what we call CBB.
Speaker Change: Thank you. If you like to ask a question, please press star 1-1.
Speaker Change: If your question has been answered and you'd like to move yourself in the queue, please press star one one again.
Speaker Change: One moment for questions?
Speaker Change: Our first question comes from Timothy Jial.
Timothy Jial: with Goldman Sachs online is open.
Timothy Jial: and I thank you for my question. I have two questions.
Speaker Change: The first time we were using Hu Zengzha, we saw in the company's Pyramah Max, we also said that our Hu Zengzha is not good. Let's take a closer look at the situation of the situation.
Speaker Change: [inaudible]
Jonathan Peng Zhao: Our cash buildings in the second quarter still have a decent young year growth, however weaker on our quarter and quarter basis and a little bit lower than our expectation. This was many due to weaker demand from the recruitment site in the later half of the second quarter. There were relatively fewer enterprise users and more job secrets in the market, which is what we refer to as a high CB ratio. In this case, most enterprise users found it easier to hire.
Speaker Change: and I'm very happy to share.
Speaker Change: Thank you, my friends for taking my questions to question here. The first is regarding your user growth and Maheshir, how does Maheshir build Maheshir currently, and in the adverse macroevalment currently, we consider to follow the accelerator Maheshir again. The second, as we mentioned, to ensure the full-year profit this year could measure and share what is your detailed measure, and what is your all-packs, including the specific trend for the rest of this year. Thank you.
Jonathan Peng Zhao: For example, a project team that took three months to fill all the positions in the past not only takes two months, reducing enterprise users' desire to spend more money on recruitment. We noticed that the growth trend of enterprise users is still good. There are two proofs. First, in the second quarter, the number of newly added enterprise users was higher than that of the same period last year. Second, the average monthly active user of enterprise users increased by 17% young years.
Speaker Change: Let's talk about this.
Speaker Change: is the first time in the Chinese Academy of Arts in the Chinese Academy of Arts in China.
Speaker Change: and the Chinese Communist Party of China have been very serious.
Speaker Change: We will see you in the next video.
Speaker Change: We will be able to take the opportunity to make a decision.
Bezhi: and Bezhi.
Speaker Change: OK. Thank you for your question. For the first time regarding competition, the current competitive landscape is relatively stable or we rather say we have relatively good competitive advantages and there are many third party data that are now on this test to prove that.
Speaker Change: I'm going to give you the problem.
Speaker Change: [inaudible]
Jonathan Peng Zhao: You might as well have long been following us know that user growth is the core growth driver for our revenue growth. We still have a good growth of enterprise users in the second quarter. This is a good news.
Speaker Change: [inaudible]
Speaker Change: [inaudible]
Huang Yeru: Huang Yeru, the director of Shiji Zhang, is also able to see it. I heard that there is a relationship between the two of us. This is a very good relationship.
Jonathan Peng Zhao: We will come. [inaudible] For example, in the blue color manufacturing industry, there may be some new dollars. To briefly review the blue color manufacturing industry, we had talked before. The background is the concept relationship between factories, workers, platforms and agents. In addition to many historical issues, have made it challenging for online platforms to serve the blue color manufacturing industry. For example, in the blue color manufacturing industry, the blue color manufacturing industry, the blue color The history is three years ago, we started by purifying the drop seeking and cumulative environment through what we call the Kongch project, Hainuo.
Huang Yeru: Ying Guo's Liu Xu Changden is also the father of Wu Zhe, so he finally made a...
Huang Yeru: [inaudible]
Huang Yeru: Wen Ding, Peng Zhao, Chishu Wang, Peng Zhao, Chishu, [inaudible]
Huang Yeru: Zhang, Zhao, the Natasha.
Huang Yeru: [inaudible]
Speaker Change: and the same case for the user usage time. So all of those data is...
Speaker Change: we proved that as a leading online recruitment profession, every effective or competitive landscape is relative stable and a continued in a good trend.
Speaker Change: Today, I will introduce you to the first time I have seen the Chinese Communist Party in the past, in the past.
Speaker Change: Today, we are going to talk about the first time we have a meeting with the people in the world, which is a very interesting part of this world.
Speaker Change: I think it's a big deal.
Speaker Change: can you see what I'm looking at?
Speaker Change: So, in the next few years, we have been working with Yu Zhang for a long time. We have been working with Yu Zhang for a long time, and we have been working with Yu Zhang for a long time.
Speaker Change: I stand out for this.
Speaker Change: Hello, everyone. We are now in the 5th floor of our country.
Speaker Change: This is the first time we've seen the story of our story. This is the first time we've seen the story of our story.
Speaker Change: I don't know what to say
Speaker Change: I will share with you a lot of things to share with you in the future.
Speaker Change: Sheng Zanjiao D, but is Peng Zhao Gao?
Zhang: Zhang, please take a look at the information you want to see.
Zhang: Li Wei, you said, thank you, you're welcome.
Zhang: We can also know some of the common things that we have to do in the future.
Speaker Change: Zhang can't control the situation. Zhang can't control the situation.
Speaker Change: Liu, Peng Zhao, the most important person in the world.
Speaker Change: [inaudible]
Speaker Change: is a soldier's father, who can show his duty.
Xi Jie: Xi Jie.
Speaker Change: and in terms of a guarantee that a full year profit target.
Speaker Change: So, uh...
Speaker Change: We believe is very critical.
Speaker Change: for our core employees for our management to have this target.
Speaker Change: This is part of our Congress and is a testifying whether this firm is very stable.
Speaker Change: and Strong.
Speaker Change: So, I'm now strategic perspective. So, first-wise, our two-year-use growth target is 40 to 45 medium. And in the first six months, the first half of this year, we have already achieved 28 medium.
Speaker Change: So, there are only 12-17 years left for us to grow, it should be ready to be.
Speaker Change: is easy to achieve. So we can control our overall spending on working to appropriately achieve our profit target.
Speaker Change: Second, under current circumstances, we want to better use our resources and to remove the priority of those projects we need to experience with lower.
Jonathan Peng Zhao: During the intention of this initiative has to first, is to protect the overall drop seeking process of the drop seeking. Second, was to help blue-collar agents and organizations make money recently. The current situation, after a tough game, the long-standing issue of bad or low-quality agents driving out good ones across online recruitment platforms is beginning to improve. This positive shift has already happened. Good guys who commit to treating drop seekers with integrity, posting authentic drop details and several information, are now receiving better results.
Speaker Change: and hire target to postpone a resource usage and prioritize the importance of reducing the overall cost and this can be achieved through internal management and with the, we today we will be with this very high level certainty.
Fio: In terms of detailed data I think Fio can give you some more color.
Fio: Regarding our...
Speaker Change: and the bottom line and the major cause and the expensive item are quickly mentioned our thoughts.
Speaker Change: as Johnson just mentioned, we would like to try our best to secure our operating profit. The target, our target for four years of a non-gap operating profit, is set as two points for refilling.
Speaker Change: which is roughly up 40% year over year on top of the last year's adjusted non-vap adjusted operating profit.
Speaker Change: So, in terms of our gross margin, our gross margin will in third quarter or following quarters will.
Jonathan Peng Zhao: We have named this trust worthy agent as platform certified Kongch Select. The latest data is over 40 million revenue in the second quarter, which is much higher than that in the first quarter. These good signs make me feel that our strategy and the persistence in the past few years are correct.
Speaker Change: will stay flat or slightly improved due to higher economy of scale.
Speaker Change: and our marketing expenses, as Johnson mentioned, will be controlled and at relatively low level.
Johnson: are setting expenses and the G&A expenses, those expenses items will all be...
Johnson: Moderate and in a reasonable situation.
Johnson: and in terms of the R&D expenses.
Speaker Change: Because of the way, probably, we'll shift our priority from...
Speaker Change: [inaudible]
Speaker Change #100: Thank you.
Speaker Change #100: into other things. So from third quarter or from second half, this part, the expenses will be praised.
Speaker Change #100: So altogether, our operating margin will increase.
Speaker Change #101: Thank you.
Speaker Change #101: is a new year.
Speaker Change #101: Wang, Peng Zhao, Peng Zhao, Peng Zhao, Peng Zhao.
Jonathan Peng Zhao: The third scene is our overseas business. As we all know, economies are cyclical and these economy cycles are often out of sync across different countries and regions. Large companies with strong global presence can effectively utilize this regional big shift to support sustainable growth. In particular, both Japan has pioneered our current model globally. This model is very likely to provide value and gain space for survival and development in various regional markets through localization, hybridization and evolution. While we are seeing promising progress in Europe and Asia, it's still too early to report on results.
Speaker Change #102: We'll be back in the next few days. Because we're going to get to know what's going on.
Speaker Change #103: We are very close to the situation, and we will not be very close to the situation.
Speaker Change #103: [inaudible]
Speaker Change #103: When we first met, if we were to talk about the situation, we would be able to bring more freedom and a little more strength.
Speaker Change #103: and Wenbei Wang, Peng Zhao, Peng Zhao, Peng Zhao.
Speaker Change #104: Shoubien Guzhuanqi's Ping Hwner, Qin Fang Xia, Wu Qinghai, and Mian Li's Yu Zhang. So, we will talk about the news.
Speaker Change #105: Zhao Yanyuan and Qiu Zhiyu, this is the first time we've heard about this, and we are the first to make a deal with the Chinese people.
Speaker Change #105: Zhang Xiao and Wenbei.
Speaker Change #105: [inaudible]
Speaker Change #105: and Shu Yi Xiang, Guan Di.
Speaker Change #105: [inaudible]
Speaker Change #106: Wu Qian, Han, Yin Wei, Dajiao, Jing Er
Speaker Change #106: [inaudible]
Speaker Change #106: Zhang, Jiang Wenbei
Speaker Change #107: I don't think I can do it myself, I don't know what to do. But now I have a question.
Jonathan Peng Zhao: Last but not least, it's important to address confidence again, particularly in terms of strengthening the returns for our shareholders, who have constantly supported us since our IPO. For example, we will continue to increase our share payback efforts. We have bought over US$88 million, repurchased in the past four months. This all will help to reinforce the valuable confidence of our shareholders and management.
Speaker Change #107: may be a world, I have a lot of questions about the situation in the past. I am now in a lot of trouble.
Speaker Change #108: is not a big deal. We still...
Speaker Change #109: This is a very good example of this story, just like this
Speaker Change #110: I want to thank you for your support and support.
Speaker Change #110: I think it's a good idea to look at it and say it.
Speaker Change #111: and for the market share which a lot of investors are concerned and have a lot about.
Jonathan Peng Zhao: That concludes my part of the call.
Wei Xiong: I will now turn it over to our CFL field for the overview of our financial results. Thank you. Thanks, Jonathan.
Speaker Change #111: and Wenbei, after experiencing the years past, we are...
Speaker Change #112: Notice that on the current situation, every dollar we spend, there will be more job secrets and less enterprise users.
Wei Xiong: Hello, everyone. Now, let me work to you through the details of our financial results of the second quarter of 2024. In this quarter, we deliver healthy and sustainable top line and a bottom line growth. Calculated cash billions and revenues grew by 20% and the 29% year on year respectively. Mainly driven by the growth of our enterprise users, average monthly active enterprise users in the quarter grew by 17% year on year. We continue to penetrate into different categories of users, especially in blue color sectors, some more medium-sized enterprises and users from lower-cure cities.
Speaker Change #113: So, the CP ratio is a currently, is a challenge for the powerful who is based on the supply and demand balance of both sides.
Speaker Change #114: from this perspective to keep the balanced simulation, we agree we don't need to.
Speaker Change #115: I've spent money to aggressively, and that's my real share. In addition to increase the McDonald market share on the enterprise user side,
Speaker Change #116: You know, currently the overall pain on the direction of the enterprise and not that strong.
Speaker Change #117: So, the best and most effective way to enlarge our enterprise market share is to start up high school.
Wei Xiong: As a result, revenue contributions from those sectors continue to increase. Paid enterprise customers in the 12 months ended through in 2030-2024 increased by 31% year-on-year to 5%[inaudible] Part of the reason was that revenue from key accounts outgrew small and medium sized accounts. But more importantly, was our effort to increase client usage by offering high quality and targeted products and services. Moving to the cost and expenses side, excluding share-based conversations of the justice operating cost and expenses increased by 20% year-on-year to RMB 1.3 billion and the led to a adjusted operating profit of RMB 660 million in the quarter, up 52% year-on-year.
Speaker Change #118: in the country, it is a childhood, it is a time to do that, but I'm not planning to...
Speaker Change #119: take even more shares by knowing on the price. I don't think this is a meaningful thing to do at current situation, and that's my absolute precious.
Speaker Change #120: and thank you all for your knowledge, move on to the next question.
Speaker Change #120: Thank you. Our next question comes from Eddie Wang with Morgan Stanley. Your line is open.
Speaker Change #121: Thank you, Zhao Zong and Wenbei, thank you for my question. I'm also the first person to help us out. The second part is to find out how the Hong Kong situation is.
Speaker Change #122: and then he said that he was the leader of the Zhao Ping. He said that he was the leader of the Zhao Ping, right? He was the leader of the Zhao Ping. And then he didn't agree.
Speaker Change #123: Li Ji不同规模的企业,各自表现是怎么样的,这是一个问题.
Speaker Change #124: [inaudible] Thank you for watching.
Speaker Change #125: Zhang also said that he can't do that.
Wei Xiong: A adjusted operating margin reached 34.4% up by 5.3% at points compared to the same quarter last year and a huge and all-time half. Cost of revenues increased by 17% year-on-year to RMB 317 million in this quarter, representing a gross margin of 83.5% continued its upward trend. Sales and marketing expenses increased by 16% year-on-year to RMB 545 million in this quarter. This increase was mainly driven by over-invent investment in customer acquisition as well as higher sales commissions.
Speaker Change #125: and this is the way we call it. There are some space in the city.
Speaker Change #126: I think it's a bit of a shame. I'm not sure if it's a shame. If it's a shame, it's a shame if it's a shame. If I can do it again, I'll do it myself. Thank you, Manli, for taking my question.
Speaker Change #127: We understand that the macro situation seems, you know, the court has been right for a week.
Speaker Change #128: So, just want to hear your view that have you witnessed and improving.
Speaker Change #129: in implementing the requirement demands in August versus during July and how the performance of different industries and different, you know, the enterprise of different scales.
Speaker Change #130: and the second question is, if the microphone continue to be relatively weak, will we have any change in the business strategy to offset the, you know, the microphone impact. Thank you.
Wei Xiong: R&D expenses increased by 21% year-on-year to RMB 444 million in this quarter, excluding share-based conversations, expenses adjusted to RMB expenses increased by 28% year-on-year to RMB 334 million. This increase was primarily driven by our earlier investments in AI infrastructure which generated a higher depreciation cost. Our G&A expenses increased by 29% year-on-year to RMB 261 million in this quarter. Our adjusted G&A expenses increased by 21% year-on-year to RMB 153 million, mainly due to increased employee related expenses.
Speaker Change #131: Shoxian, we can't solve, we can't solve, we can't argue, we can't handle it. We can't solve, we can't handle it.
Speaker Change #131: Wang, Zhang, Peng Zhao, Peng Zhao, Peng Zhao, Peng Zhao, Peng Zhao.
Speaker Change #132: and the government, who is helping Yu Wang, is helping Yu Wang.
Zhang Guan: Zhang Guan.
Speaker Change #134: This is a situation. So, in the next episode, we'll see how it will be.
Speaker Change #135: Qin Fang is a good fish, but he is a good friend of Qin Fang.
Speaker Change #135: This is a good
Speaker Change #135: Zhang Min is a reporter, but he is a reporter.
Speaker Change #136: First, we cannot talk about the Merkel, but we can share with our own situation, which we observed from our website and app.
Wei Xiong: Our net income was RMB 417 million in this quarter of 35% year-on-year and our adjusted net income in this quarter reached RMB 719 million and increased by 26% year-on-year. Wei expected that our share-based compensation expenses reached the peak level in this quarter and will gradually decline in the coming quarters. We are now reviewing stock compensation scheme and studying some schemes which might even accelerate the process. Net cash provided by the operating activities grew by 14% year-on-year to RMB 869 million for this quarter.
Speaker Change #137: is in the second quarter. The overall willingness to pay from the recruiters are lowering. And secondly, the blue color grows is still better than white color. That's why it's still thin.
Speaker Change #137: So, we'll see what's happening in the future.
Speaker Change #138: Guan Chaoxi, Kei, and Gao Yifeng, Kei, and Mingfeng.
Speaker Change #138: This is why I told you that the law of law is not allowed, but the law of law is not allowed.
Speaker Change #138: is a very fast-paced, very fast-paced.
Speaker Change #138: and for the looking to blue colors, there are several observations we can share with you. The first observation is that the overall blue color will come and demand a rich...
Speaker Change #139: is a high-end, pre-factual recruitment system, but the full-back relatively faster in the second quarter.
Wei Xiong: As of June 30, 2024, our cash and the cash equivalent short-term fund deposits and short-term investments totaled as RMB 14.3 billion. Notably, in the past four months, we have repurchased a total consideration of US$88 million, which demonstrated our commitment in shareholders' return, a long-term confidant of our business. And now, for our business outlook, for the third quarter of 2024, we expect our total revenues to be between RMB 1.9 billion and 1.92 billion RMB, a year-on-year increase of 18.2% to 19.5%.
Speaker Change #140: So, in the last two years, I was looking for a way to make a comeback, and it was a success.
Speaker Change #140: [inaudible]
Speaker Change #140: [inaudible]
Speaker Change #140: Even, relatively, a fracture for back-in-second quarter, we still see a very good year-of-year growth in terms of the blue-collar-raving-in-second quarter.
Speaker Change #140: and among the detailed sectors there is one highlight which is the factoring industry.
Speaker Change #140: will continue to perform more other industries and after that is logistics sector.
Wei Xiong: That concludes our prepared remarks and a way we would like to answer questions.
Operator: Operator, please go ahead with the cues. Thank you. If you'd like to ask a question, please press star 11. If your question has been answered and you'd like to remove yourself from the cue, please press star 11 again. One moment for questions.
Speaker Change #140: Hello!
Speaker Change #141: In the second quarter, we observed the situation, and there are two other things worth sharing.
Speaker Change #141: Guan Xiaoshu Zhang, Wenbei Wang, Peng Zhao, Guan Xiaoshu, Guan Xiaoshu, Guan Xiaoshu, Guan Xiaoshu, Guan Xiaoshu,
Speaker Change #142: Now, speaking of the limitations of this city, compared to first-tier cities, in second, third, and fourth-tier cities, the growth of winners is relatively faster. Additionally, there is a trend that continues, which we observed in the first quarter and shared with everyone, and it continues into the second quarter. This trend is that large enterprises are experiencing better growth. For example, enterprises with more than ten thousand employees are generally maintaining faster growth.
Timothy Zhao: Our first question comes from Timothy Zhao. Let's go. This action line is open. I have two questions here. The first is regarding your user growth and market share. How does management team view the market share currently and in the adverse macro-environment currently, are we considering to further accelerate the market share again? And second, as we mentioned, to ensure the full-year profit this year, could management share what is your detailed measure has included the SPC trend for the rest of this year. Thank you.
Speaker Change #143: and Zhao Jingxiu Wei's son.
Speaker Change #144: and there are also other two of the wishes of Worse Cherry. First, compared to the first two cities, the recruiters enter across to the growth is better and faster in the second, third and fourth tier cities. And this is where there is a continued trend, which we have already discussed in the last quarter results that is a larger size of the enterprise growth greater. For example, a big enterprise with over 10,000 employees at the companies with the fastest or the fastest growth rate.
Speaker Change #145: I said Yan Xuxi, Sha Su Lanlin, Huai Xuxi, Bai Wenwenwenwenwenwenwenwenwenwenwenwenwenwenwenwenwenwenwenwenwenwenwenwen wenwenwenwen wenwenwenwenwenwen
Speaker Change #146: Huang Yingtun, Kyo Er, Qin Fang, BVB, and Bai Shanxi, Han Jian.
Speaker Change #147: Li Zhang, Liu Guo, Gu Danzi, Cai
Speaker Change #147: [inaudible]
Speaker Change #148: and Bout Girl Recent Situation August.
Speaker Change #149: Wen Kang, to talk about the blue color, the blue color, the overall.
Wang: [inaudible] Wang,
Jonathan Peng Zhao: Okay, thank you for your question. For the first one regarding competition, the current competitive landscape is relatively stable. Or we'd rather say we have relatively good competitive advantages. And there are many third-party data that now only has to prove that. For example, we are talking about the M.A.O, data. The data was said by the D.A.O, data, which is also a high level of learning. In the future, we can also see that the D.A.O, and M.A.O, are related to each other.
Wang: [inaudible]
Wang: We are in the same place, and we are in the same place, and we are in the same place.
Speaker Change #151: We have been doing this for a long time, and we are doing it for the whole world. We have been doing it for a long time, and we are doing it for the whole world.
Speaker Change #151: We are going to share our feelings with you. Let's talk about Lanlin.
Jonathan Peng Zhao: This has always been a good relationship. [inaudible] Our M.A.O, and D.A.O, are achieved a historical high in the second quarter. The user activities, for example, the D.A.O, and M.A.O ratio still remain at a very high level. So, in the same case for the user usage term. So, all of those data prove that as a leading online recruitment platform, our every perspective, our competitive landscape is relatively stable and continued in a good trend.
Speaker Change #151: [inaudible]
Speaker Change #151: [inaudible]
Speaker Change #152: Jia Da, Tu Ru He, Jiang Mei Shu
Speaker Change #153: and the citizen question about hope.
Speaker Change #154: Wang, in the exhibition, we can use to get the numerical headwinds. The first thing we are trying to do in first is to concentrate our resources to the business and department between the causes of the term.
Speaker Change #154: Fathure a long-term outlook, we gave Dimitres for example, on the local manufacturing industry, we from Taiwan's Project.
Speaker Change #154: to contact and to generate revenues, we are currently in housing or investment and the input of this error.
Speaker Change #155: I don't dare to say that we are in the past three weeks, but we can still have a chance to live with Lan Ying.
Jonathan Peng Zhao: From this experience, I think this is the core of the company's cooperation and management. In today's situation, we must have a goal. This goal is to present a part of our trust. This is to say that this company is a real one. So, from a big point of view, I think we can simply look at it. So, first of all, in this way, we have a whole year of 4,000 to 4,500 million users.
Liu Guo: Liu, when I was a kid, I was worried that I wouldn't be able to take a step back to the end of my life.
Lanning: Lanning to the audience.
Lanning: [inaudible]
Speaker Change #158: I cannot be so worried.
Jonathan Peng Zhao: In the last six months of the year, we have a large number of users. 2,800 million users. So, in this year, our users have to pay 1,222 to 1,700 million users. This is a very big fish place for our market users. This is a very big fish place. This is a very big fish place for our market users. [inaudible] The market seems to have some small details, but the market is not doing it, but it is looking at the market.
Speaker Change #159: Certain to say that, the Kongt Black Project
Speaker Change #160: We have very big revenue from our cooperation with the local manufacturing industry in the third and fourth quarter of this year. But we believe this is the...
Speaker Change #160: First, real chance, act of chance for the online recruitment and performance to go into the blue color manufacturing industry and make some real money.
Speaker Change #161: I'm going to be in the middle of the day
Speaker Change #162: Thank you.
Jonathan Peng Zhao: The other thing is that, in the current situation, we can try some general things, in the current situation. In the middle of the market, we can pass through that method,[inaudible] So, in terms of our gross margin, our gross margin will, in third quarter or following quarters, will stay flat or slightly improve due to higher economy of scale, and our marketing expenses, as Johnson mentioned, will be controlled and at a relatively low level.
Speaker Change #163: Thank you, our next question comes from Robin Xu with our theme, your line is open.
Robin Xu: Thank you, Mr. Wang. I'm a two-year-old. I'm a two-year-old. I'm a mother-in-law of the company. I want to talk to you about this. I'm going to talk to you about the future. I'm going to talk to you about the future.
Robin Xu: [inaudible]
Robin Xu: [inaudible]
Speaker Change #165: if management could give us more color on.
Speaker Change #166: OVDCs and announcements in AI and...
Yu Zhang: and Yu Zhang, who's far away with the lead league justice in the UK and our Southland.
Speaker Change #168: I can't beat you, I can't beat you, I can't beat you, I can't beat you.
Speaker Change #169: and the Communist Party, we have received his big questions. This is our conference call.
Speaker Change #169: Hello, I am Wenjia, from Jiang's perspective. We will be talking about the future of Wenjia. We will be talking about Wenjia.
Speaker Change #169: I am the leader of the company, Zhang Jiaxian. We are the leader of the company, Zhang Jiaxian.
Speaker Change #170: But can Zhang come from the same time or have a lot of time to meet each other?
Speaker Change #170: Episode 2
Speaker Change #171: Thank you for your question. The first work of our own ability to technology.
Speaker Change #171: I have mentioned that you will conference call before.
Speaker Change #172: and because of the Jason, the CEO is very respectable here of ours and the sister is actually in a good team until now and they are able to become the number one in their own
Jonathan Peng Zhao: Our selling expenses and the G&A expenses, those expenses items will all be moderate and in a reasonable situation. And in terms of the R&D expenses, because of the way probably will shift our priority from AI related infrastructure investments into other things. So from third quarter or from second half, this part, the expenses will decrease. So altogether, our operating margin will increase second half and versus the full year operating margin versus last year will also be better. Thank you. And.
Speaker Change #172: So to purchase majority of the Shhehode State of W. Technology is out of the recognition and respect of Jason Asio and his team.
Peng Zhao: [inaudible] Peng Zhao, Peng
Speaker Change #174: So, Jason has been working on his team in the... I know he's a great singer, so he's a great singer. He's a great singer.
Speaker Change #174: [inaudible]
Speaker Change #174: Episode 2
Speaker Change #174: and Jason and his team, we fully recommend his knowledge and done.
Speaker Change #175: the industry actually has fully recognized their knowledge, know how and model in the manufacturing industry. Currently, this is working with us for three weeks. First of all, they are fully independent in the development of WBT technology.
Speaker Change #175: [inaudible]
Speaker Change #175: and the second thing is to help the company to push forward the...
Speaker Change #176: or the Environmental Improvement under the College Project and the Monetization of Commercial Project, Commercial Plan under the College Select Project.
Speaker Change #177: In the third world, we have not yet heard the word, I can say that this is in the middle of my university.
Speaker Change #178: and the Japanese Communist Party, the Communist Party, is a big deal. I promise that the Japanese Communist Party and the Japanese Communist Party have a great impact on the future. I am really...
Speaker Change #179: Zheng Zai,推出一款,我們還挺有期待的地方服務,但是現在我覺得還是先
Jonathan Peng Zhao: And for the market share, which a lot of investors are concerned and have asked a lot about. And we actually, after experiencing the years past, we noticed that on the current situation, every dollar we spend, there will be more job secrets and less enterprise users. So the CPU ratio is a currency is a challenge for the platforms who is based on the supply and demand balance of both sides. So from this perspective, to keep the balance the simulator, we actually don't need to.
Speaker Change #180: I think it's also a miracle in the past.
Speaker Change #181: and the third of which not to support to discuss more details publicly at this moment.
Speaker Change #182: is that Jason is currently reading the operation team of that data technology and the part of our RD team to together combine the advantages of our traffic and their...
Speaker Change #182: and the no-home industry to combine together to...
Speaker Change #183: Publish a new product on service, which we can't, we will rather looking forward to that, but maybe in the next quarter.
Speaker Change #183: [inaudible]
Jonathan Peng Zhao: [inaudible] And apparently, it is a challenge. It is time to do that. But I'm not planning to take even more shares by lowering our price. I don't think this is a meaningful thing to do at current situation. And that's my view to share.
Speaker Change #184: We have a little bit of a talk, but we are going to talk about the two main topics. We can know that this MV is going to be a great idea.
Speaker Change #184: [inaudible]
Jonathan Peng Zhao: And thank you, Peter.
Operator: Let's move on to the next question. Thank you.
Speaker Change #185: If in Hong Kong, Peng Zhao looks at the scene, it's a good idea, I think Zhen Zheng is in a relationship with Feng Qian, I think it's a good idea today, I'm going to take a look at the scene of a three-dimensional painting [inaudible]
Speaker Change #186: In the past, we had a great time in the past, and we had a great time in the past, and we had a great time.
Eddy Wang: Our next question comes from Eddy Wang with Morgan Stanley. Your line is open. [inaudible] There is a change in the future. There is a change in the future. Wang, Wei Xiong, Wang, Wei Xiong. Our own situation, which we observed from our website and app. First, in the second quarter, the overall willingness to pay from recruiters are lowering. And secondly, the blue color growth is still better than white color. That's why it still stands. So, let's further look into blue colors.
Speaker Change #186: Tang!
Speaker Change #187: I can tell you that I'm the one who helped me to find the right way.
Speaker Change #188: and for all our business first and foremost, our Hong Kong initiatives, we have made some progress and have initially achieved.
Speaker Change #189: published a new piece of research to serve the recruiters in Hong Kong and see how the users might react of a behave on a powerful.
Speaker Change #190: This is my take-to-three months and then we will decide whether we can accelerate the development of this business. And in terms of the revenue, which is a decent revenue from Hong Kong business, I think it's a little bit early. Maybe it will take more than next to three years.
Speaker Change #191: and God.
Speaker Change #192: In the Asia and Europe area, I'm the son of the developer of the countries. We have a quite a long time to it, and a constant, I can say, that I'm satisfied with the local team we have recruited and we have COVID-19.
Speaker Change #193: In the past few years, it was the first time in the world that was in the city of Yanxi, the city of Xiaohua, the city of Qianyi, the Communist Party of Koshan, and the Communist Party of Guzhong.
Speaker Change #194: I'm going to talk about two things. The first thing we can do is to make sure that we can continue to work together.
Speaker Change #194: I like to say that we still hope that we will be able to make a decision from the people.
Speaker Change #194: The most important thing is to have a group of people, but we don't have a group of people, we don't have a group of people, we don't have a group of people.
Zhang Wen: Zhang Wen is...
Speaker Change #196: We will continue to follow the rules of the war.
Speaker Change #196: [inaudible]
Speaker Change #197: Episode 2
Speaker Change #198: and the third of our regarding the AF-Fingirative AI, I have shared some of our thoughts before I have done.
Speaker Change #198: and many of them are so much here, so they are two point first.
Speaker Change #198: in scientific perspective, we are afooting a termite.
Speaker Change #199: Project, which is for our research guys, our tech guys to understand, to know what the most developed technology in this era is and what they are doing. But we are not planning to invest more resources. We are not affordable to do that, to actually do that.
Speaker Change #199: So, we, we, we, there's no one that's doing, and it's kept up with the most out of all of the technology.
Speaker Change #199: Hello, everyone. I am Yu Zhang. We are in the military service, and we are now in the military service. We are in the military service, and we are in the military service.
Speaker Change #199: [inaudible]
Speaker Change #200: Episode 2
Speaker Change #201: on the application level, so our strategy is still R, if something...
Eddy Wang: But there are several observations we can share with you. The first observation is that the overall blue color recruitment demand reached peak historical high in the pre-factor recruitment season. But there's the fallback relatively faster in the second quarter. So, in the second quarter, the blue color growth is still better than the second quarter. The other observation is that this year's overall capacity has increased. Today, we're going to look at the overall capacity in the pre-factor recruitment season.
Speaker Change #202: I'm not happening before the emerge of the narrative and ideology, so we give priority to that. So, all of that strategy, we have some good applications in the...
Eddy Wang: Even the relatively faster fallback in the second quarter, we still see very good year growth in terms of the blue color revenue in the second quarter. And among the detailed successors, there is one highlight which is the factoring industry. Continue to upperform all other industries. And after that is logistics sector. So, in the second quarter, we've seen the situation.
Speaker Change #202: in the industry level, so we are using it to encounter it now.
Speaker Change #203: And then, Gu Wei Gu Zong, Hu Wei Wang, is also a very happy person. I'm still...
Speaker Change #203: I am Jiang Shi, the chairman of the Communist Party, and we are going back to the Communist Party's plan.
Speaker Change #204: Zhang, Peng Zhao, Peng Zhao, Peng Zhao, Peng Zhao.
Speaker Change #205: So in the short term, the core shareholders and key employees of the current company have a confidence issue. This confidence is not something abstract or subjective; it is actually very real.
Speaker Change #206: I think that this Zhang Xianba will not be able to do it, because it is also his first thing to do, this is my experience.
Speaker Change #207: In fact, there is a scene in a movie and it is a very beautiful scene
Speaker Change #207: Stone
Eddy Wang: The second observation is that the overall capacity of the pre-factor recruitment season and the overall capacity of the pre-factor recruitment season in the pre-factor recruitment season. [inaudible] First, compared to the first two cities, the recruiters' enterprise to the growth is better and faster in the second, third and fourth-tier cities. And the second one is there is a continued trend, which we have already discussed in the last quarter's results, that is a larger size of the enterprise growth better.
Speaker Change #208: I don't know what to say, but I'm going to do it. We will continue to do it.
Speaker Change #209: and about the shareholder returns with...
Speaker Change #209: and his name is Gao.
Speaker Change #210: We have a long been insist on providing shareholder return to our shareholder, which is a basic I think for the company and we always attach great importance to that.
Speaker Change #210: Zhao.
Speaker Change #210: which because it's at least a very true.
Speaker Change #210: is a problem, or at which we are a crucial point for the whole shareholders and employees to maintain our strong confidence.
Speaker Change #210: So it's very essential and important to do a good shoulder return project.
Speaker Change #210: So...
Speaker Change #210: We have a 200 million USD share-by-back program and in the end of the year.
Speaker Change #210: Last four months, we have already boarded a 88 medium. This is a real number, and we will act, we have done for our size, for also a communal power size, and we will continue to do that.
Eddy Wang: For example, a big enterprise with over 2,000 employees at companies with the fastest growth rate. So, in the end of August, we have also seen it, and Mr. Xian said that it is still a matter of difficulty. In the end of August, it is a matter of difficulty, and it is a matter of difficulty, and it is a matter of difficulty. [inaudible] Thank you.
Speaker Change #211: This is the first time I've said that I can say that this is a very good plan for the company to work in the same way as in the past.
Speaker Change #211: [inaudible]
Wenqi: in the Wenqi's way that. And about the needed, I can say that for potentially the pair pair, we are still starting back on the research. And that's my answer to your question. And given the time constraint, I think that that's the last question for the core operator.
Speaker Change #213: Episode 2
Wenbei Wang: Thank you, Zhiyu Zhang, for sharing. That concludes today's question answer session. At this time, I'll return the conference back to Wenbei for the additional close remarks.
Wenbei Wang: Thank you for joining us today. If you have any further questions, please contact our Team Dad Play on TPD Metro Station. Thank you.
Speaker Change #215: Thank you, you may now disconnect, good day.
Robin Zhu: Our next question comes from Robin Zhu with Bernstein, your line is open. Thank you, Mr. Zhao. One question, I have two questions.
Robin Zhu: One is to talk about the details of the company. Recently, we have received some reports from the Ministry of Foreign Affairs, which are more likely to be developed in Taiwan and abroad. The second question is that the company's shares are also relatively weak. I don't know if you can like to talk about the details of the past and the past. For example, the details of the last three or four seasons will be enough. Today, we will talk about the details of the shares. There are two questions.
Wei Xiong: One would manage and elaborate on recent developments in the company with regards to the WD acquisition. If management could give us more color on over the seas and investments in AI. Second, given the weakness in the company shares in recent times, could management share some thoughts on go-forward buybacks and whether the company will consider instituting a regular dividend. [inaudible] So, to purchase majority of the shareholder's state of W technology is out of the recognition and respect of Jason and his team's work in this area.
Wei Xiong: And it's not just our full expansion into the area, it's more likely to add ourselves with some capabilities which is difficult for us to develop ourself. Jason and his team, we fully recognize his knowledge and the industry actually has fully recognized their knowledge, know how and model in the manufacturing industry. And currently, he's working with us for three-foot. First of all, they are fully independently to live the development of W technology.
Wei Xiong: And the second thing is to help the companies to push forward the overall environment improvement under the commercial project and the monetization commercial plan under the contract project. [inaudible] And the third one, which is not super to discuss more details publicly at this moment is that Jason is currently leading the operation of the team. Of that W technology and the part of our R&D team to together combine the advantages of our traffic and their experience and the know-how in the industry to combine together, and the new product or service, which we will add rather looking forward to that, but maybe in the next quarter.
Wei Xiong: I think we need two to three months' time, and then we may decide whether we need to add a fast speed in the future. If in the future, we can see that it is a good income, I think it is really in Robin Zhu's money. I think it is a three-year-old plan. Wei Xiong. Then we will decide whether we can accelerate the development of this business. And in terms of the revenue, which a decent revenue from the whole business, I think it is a little bit early, maybe take more than two to three years.
Wei Xiong: And in the Asian and Europe area, we are some developed countries. We have taken quite a long time, and at that stage, I can say that I am satisfied with the local team we have recruited, and we have COVID-19. I have shared some of our thoughts before, and maybe some words here.
Wei Xiong: So there are two points. First, in a scientific perspective, we are executing a tail light project, which is for our research guys, our tech guys to understand, to know what the most developed technology in this area. And what they are doing, but we are not planning to invest more resources. Actually, we are not affordable to do that, to actually do that. So, we just know what they are doing, and it kept up with the most advanced technology.
Wei Xiong: The other thing is that in the past, we used a particular strategy, although the C.A.I. Before the launch, there was no choice but to do something like this, so we will go ahead and consider it. In this strategy, we now have some companies that are not working on the hardware, which can be saved. On the application level, our strategy is still R. If something is not happening before the emerge of generative AI technology, then we get priority to that.
Wei Xiong: On that strategy, we have some good applications in the industry level. We are using Kanzhun. It is not something that is needed, it is something that is not a main thing. It is something that is very realistic. So I think it is a good thing to do in the future. This is my basic point.
Wei Xiong: [inaudible] Yi Shao, is your question to answer. And about David, I can say that for potentially the pair of players, we still started on the research, and that's my answer to your question.
Operator: And giving the time constraints, I think that that's the last question for our co-operator.
Wenbei Wang: Thank you to the time constraint, that concludes today's question in the intercession.
Wenbei Wang: At this time, I'll turn the conference back to Wenbei for an additional closing remarks. Thank you once again for joining us today. If you have any further questions, please contact our editor-in-chief, Dray, or GPD National Dictionary. Thank you.
Operator: You may now disconnect.
Operator: Good day.