Q2 2024 Waterdrop Inc Earnings Call
Speaker Change: Hello, everyone. This is Tracy Lee from World of Job and Master Relations. It's my prior to welcome everyone to the drop second quarter of Tong Hong's war or in this conference call. I'll find you in the case at the Malaysian only moving our English shop.
Unknown Executive: As a reminder, today's conference call is being recorded. Please know that the discussion today will come forward with constraints made it under the pick-up or position that you want to target securities and the Litigation Reform Act of 19 and five. For a looking statement, a factor to risk and an assertiveness and make sure it results to reform materially from our current expectations. Judicial risk and an assertiveness is equal but not limited to those outlined in our public sliding with the SEC.
Speaker Change: at the reminder today's conference call is in court.
Speaker Change: Please know that this discussion today will come forward with containment, made it and there is a good cover position that you want to provide security, and the electrification and form act of being team in the fight, or looking statements on sector to release kind and uncertainties and it has actually evolved to be for a materially form our current expectation.
Speaker Change: and the third and third is the quote, but not limited to those offline networks, public findings with the SEC. The company does not intend to take any abrogation to update and explore local statements, except as required as in your applicable law.
Unknown Executive: The company does not undertake any abrogation to update any forward-looking statements, except as required under tactical law. Also, this call includes discussion of such a mechanism. Please report to our Ernie to release forward consideration between that gap and gap.
Speaker Change: Also, they've caught include discussion of such a necum merit, please refer to our early release for consideration between necum and death.
Peng Shen: Today, on the call of Mr. Shen, our founder, chairman, and CEO, Mr. Ran Wei, director, and GM of insurance business, Ms. Xu Xiaoying, head of finance department, and Ms. the deafening board secretary. We'll be happy to take some of the questions in the mentoring line at the end of the conference call.
Speaker Change: Jun and today on the call off, Mr. Chen Tong, our founder, Chairman and CEO, Mr. Yang Wait, Director and GM of Insurance Assistance.
Speaker Change: and Xu Xiaobing, Head of Finance Department, and this.
Peng Shen: Hello everyone, this is Shen Pong. In May 2004, the salary data was dropped as in a risk rate. Over these years, we have continuously iterated in-page.
Speaker Change: Episode 2
Speaker Change: Hello everyone, this is Shen Peng. You may turn on the floor to celebrate what it dropped, eighth, and then we're through each. Only these years we have continue on for either ready to be in place.
Peng Shen: Typically, over the past two years, based on a complex and changing environment, the company has to actively transform its business. We have to see greater emphasis on the delivery of the value for doing healthy operations and ensuring sustainable growth. At the technology company, amid the new wave of AI, we are actually exploring the application of large-language models, such as LOM, scene industry, to build the company core-compassionates for the next class, the next stage. Thank you to our office; we continue to advance with existing strategies, achieving robust financial performance. The company's overall revenue reached a total of $660,000, and $760,000 in advance.
Speaker Change: Head of Italy, over the past two years, faced with a complex and changing environment, the company has to actively transform its defense.
Speaker Change: [inaudible]
Speaker Change: at the Technology Company amid the new wave of AI, we are actually exploring the application of large-mangory models, Chocac, L.O.M, in the industry, to build the content of company core components to the next level of next year's.
Speaker Change: [inaudible]
Unknown Executive: Our net profit attributable to the company's risk shareholder is nearly $88.3 million.
Speaker Change: [inaudible]
Unknown Executive: It's lacking a year-old year-end craze of over 200%.
Wei Ran: What a job has been in terms of the global needs of 10% of the recorders since 2001-2002? What is our consolidated leading position in the industry? Firstly, our insurer in the business, probably the FYP reached $1.78 billion, with an operating profit margin exceeding 21%. In April, we initiated a quality service upgrade a year, offering good service with product and good claims to users to further viewed our brand influence to also achieve the first aspect of customized solutions, exploring broader applications of the LOM with insurers. Secondly, what is a medical co-affonding activity in the mobile level of medical security systems?
Speaker Change: Executive, what is out to consolidate?
Speaker Change: [inaudible]
Speaker Change: Huang Zeyi FYP reached 1.78.
Speaker Change: Yang Guang, with an operating-talking-hargien-increditing 21%.
Speaker Change: In April, we aim to make a quality service up to a year, offering you good service with contact and good claims to you there.
Speaker Change: to further view our Grand Influence.
Speaker Change: to also achieve the first export of Captain White.
Speaker Change: Solutions, Exploring Browder Application of the L.O.A.N. with insurers. Secondly, Buddhism's medical co-abonding actually is in the case in the most available medical security system.
Wei Ran: Offering services in bilingual language and improving users' experience. Our appreciating efficiency improves, and the second in law is reduced continually. Thirdly, in healthcare-related business, our patient's crewman talked on business cooperation with pharmaceuticals. Moreover, we achieved a high quality durable in CRO and the digital marketing with our clients. In addition, we admitted to the social responsibility and sustainable development.
Speaker Change: [inaudible]
Speaker Change: [inaudible]
Speaker Change: Administration, we admit to the social responsibility and sustainable development.
Wei Ran: Jun, the company won annual charity project and annual charity model as a 21-year-old four-year charity gala. By the end of June, the World's Up Charities platform has partnered with a 110 public charity organizations and I'm forwarded a bit more than 15,000, 5,000 projects.
Speaker Change: [inaudible]
Speaker Change: by the end of June, one of the most crowded clubs on the part of it, when a 100-inch 12 public charity organizations and a 40-bit, more than 15.5,000 projects.
Unknown Executive: This concludes the recap of our Q2 performance. Currently, the industry is investing in policies which may pose more some challenges in short-term. However, we are confident in a lot of benefits from high quality development and will actually see industry's opportunities. This year, the company remains committed to its financial funding, targeting double-digit revenue growth while maintaining robust profitability. We are grateful for the ongoing support of our shareholders and investors, and for our time to shareholder interest and investor returns, the company has been actively purchasing shares in open marketing for three consecutive years, all since 211, and the NFS is over. What is up has continually repurchased 29.3 million ADF for over $100 million.
Li: Li can include the recap of our Q2 performance. Currently, the industry is investing to policies, which may post some challenges in short time.
Speaker Change: However, we are confident in a lot of the benefits for high quality development and will actually see the industry opportunity.
Speaker Change: This year, the Commonwealth Alliance committed to a financial diving.
Speaker Change: [inaudible]
Speaker Change: We are.
Speaker Change: A free soulful on the unclean support at our aunt.
Yang Guang: [inaudible] Yang Guang
Unknown Executive: Recently, our board has approved a new share repurchase program, also widening the company repurchase up to $50 million within the next 20 months. The repurchased shares will be used for ESOL, encouraging our employees and the company to grow together.
Speaker Change: Rizongli, our board has approved a new share purchase program, also widening the company's purchase of up to 50 million dollars within the next 12 months.
Speaker Change: The researchers shared with the useful e-sauce in encouraging our employees and the company to go together.
Unknown Executive: In addition to what actually repurchased, in March, we are releasing our full-year results of 212. The company announced its first of special tax dividends, which is releasing based on the strong profitability of 213, which was paid into two. What we forward, if our business remains healthy and within co-operatives, we plan to distribute dividends at least once a year to reward the support of our shareholders and investors. We also announced the World Covo, the company with two and more is the second special tax dividend based on the first half, a 214-approaching result. The total dividend amounts to about $7.5 million.
Speaker Change: Division to be able to record a march for a really painful year, we've also come on a tree, becoming an office for a special task event that you're thinking, based on the storm capability of 213, which was paid me into two. But before we forward, we forward the system to the mental health, the end is the end.
Speaker Change: [inaudible] Public Public
Speaker Change: [inaudible]
Unknown Executive: With 0.2 cents per audience share and two cents per ADF. The shareholders of Audience Share and ADF, and as a clean data, October 12th, 214, U.S. is in time on entitled to dividends.
Speaker Change: with a real point to send her on your share and to send her ADS, but your holders on your shares and ADS as a data of October 12, October 11, 24, 24, U.S. is in tying on entitled to a dividend.
Wei Ran: I will now have to round way to get our insurance business out to two.
Speaker Change: [inaudible]
Wei Ran: Thanks, Musician. And so to you, the insurance business is generated about $1.78 million in FRQ. A QLQ increase of $1.4 million. Insurance-related income was about $570 million. And as the accrued profit was about $1.2 million, the accrued profit margin increased at a level of more than 21%. Through this quarter, there's also some insurance FRQC at $1.2 million. It's hitting them at 8.2% of quarter of a quarter. New policies remain the surge in year 20% sequentially.
Speaker Change: Thank you for your attention.
Speaker Change: [inaudible]
Speaker Change: [inaudible]
Speaker Change: [inaudible]
Wei Ran: We advise our customer activation through the platforms like records, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data, data Facing out low safety operations and extended high EOT, which lead to 1.7% rise in quarterly per capita premium.
Speaker Change: Customer Accubation through a plug-on tech level, tick-toff, each have videos and so on. We were able to get into their insights and provide more actually product recommendations to your AX knowledge.
Speaker Change: Shredding the member of the new users have by 15.8% to a few. We also serve as an IACUG in a station, but they increase in premiums from the existing customers.
Speaker Change: [inaudible]
Speaker Change: 7.7% of April will engage a table of callers, third and callers, third and upgrade year. Introducing the initiatives like direct claims, lines, claims within 24 hours and serving star program to enhance youth.
Speaker Change: Department of Defense and Instruction is doing a highly more of a way for this with crucial increase.
Speaker Change: [inaudible]
Speaker Change: and Fijiang House, a low-species operations and expanded high-EO teams, which led to 1.7% rise in quarterly, per capita premium. We can send our common metrics of less-planar approach.
Wei Ran: We intend our common metrics for the last-spanner approach, increasing the life-spanner on premium competition, emphasizing private domain operations for online sales. We now have a solid motion to use a very basic, resulting in a 22% increase in private domain premium. Also, we reach our product line-ups with our disability insurance product premiums reaching 80 million yen to two. To increase the adherence, we introduce an upgrade member to service, operating health management and other close-to-benefits.
Speaker Change: and the same, including a life-spaner of three-year inclination, empathizing.
Speaker Change: Programming Operations for online sales, we lavish how it is motioned at two years ago. We're very patient. We're about to be able to find two presenting, crazy, private and living training.
Speaker Change: [inaudible]
Speaker Change: to include the experience we introduced on Explorated Membership Service, operating health management and other exclusive benefits, which spending our brand of visibility.
Wei Ran: It's planning our work for end-to-visibility. During this quarter, the company continues to be doing its offline role-criticism, complecting complaints, team upgrades and improving services to also strengthen cooperation with insurance areas and in close-to-product competitiveness. The team is also updating its advantages in either acquisition and premiums relief in crystallization. One job and the turnover continues to strengthen the synergy of insurance technology. It explores the application of AI in the planar model and improves user-acquisition patients.
Speaker Change: During this quarter, the company continues building its offline broadcast system.
Speaker Change: Completing, Completing Appgrades, and including Services.
Speaker Change: to also strengthen cooperation with insurance carriers and include products of competitiveness. I'll show them both, so if you consolidate it out of the 10th year.
Speaker Change: It's good.
Speaker Change: Executive, and either acquisition and premium to the need in Chris Bettany. What we're talking about is the trend of community insurance technology. It explores the application that they buy in the Planner model, and includes either acquisition and stations.
Wei Ran: In Q2, the company promoted innovation and customization in insurance products, including upgrading in cancer protection insurance, maternal and child insurance, and inclusive insurance in terms of the health insurance based on the 16-striving re-users. The company has intensive results upgraded with cancer and insurance products, providing a combination of reimbursement and fixed payments for cancer patients, and it includes user ability to cope with the risk, providing users with loss and protection. The series of maternal insurance will help you continue to leave the industry. The product has been upgraded to 3.0, and we have been launched with the parent child of the child.
Speaker Change: [inaudible]
Speaker Change: Laterna and Childe Insurance and Inclusive Insurance, in terms of housing insurance based on the 16-by-view users, the company has intensively self-operated with cancer and insurance products, providing a combination that can include enforcement and six payments.
Speaker Change: for Control and Control, and you could see their ability to cope with the risk providing you there as it's long and protection.
Speaker Change: [inaudible]
Wei Ran: It has been upgraded to the parent child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child of the child and now featured in AI Consultant Team, which has already had the average performance of human consultants in 30 and 0 with a personal cost of just a 10% of human consultants.
Speaker Change: in the field of insurance for pre-existing conditions.
Speaker Change: [inaudible]
Speaker Change: [inaudible]
Speaker Change: [inaudible]
Speaker Change: South Service, Nero, Diabitino Schools, Prof. AI, Insurance, Comfortment Platform, is application can replicate human voices and actually identify customer extantation, setting a new standard in the insurance industry.
Speaker Change: [inaudible]
Speaker Change: and now featured in an AI-consolidating, which has already had the average performance of human consultant in the third-hand scenario.
Speaker Change: with a personal cost of death, a 10% of student's components. Wattaging a word, AI technology will be assigned a strategy to punish it with insurers, when I think of top insurers.
Unknown Executive: A lot of people were AI technology.
Wei Ran: We have signed a strategy to punish it with insurers, one of the top insurers in this quarter, making our first excellent, excellent entitlement to customize the commercial AI consultant solution. Another arrow and execution, the ICO pilot, Hong Kong, is applied to move the scenarios of our insurance business. Hong Kong can have this explanation of terms and policies, products, preparations, products, a recommendation and a rocking assistant. It is effectively increased efficiency and improved your very experience. It has a low assisted, more than 60% of our human consultants. So insurance programs tenders a thousand times.
Speaker Change: Kuala, making our first act of an external encounter of a customized commercial AI consultant solution.
Speaker Change: and the Medical Annotitution, the ICLECOT at Guangdong, is applied to multiple scenarios of our instruments.
Speaker Change: and Sun Bung can have this vaccination upturns and policies, products, and corporations, for products of organization and around the system. Even in fact, we've been increasing and increasing the experience.
Yang Guang: [inaudible] Yang Guang, Yang Guang,
Wei Ran: Next, here we will introduce the development of the company's profonding and the health related business.
Yang Guang: [inaudible]
Yang Guang: [inaudible]
Wei Ran: Thank you, Ren Wei. As I said, NFQ-2204, around a full-time unit of 61 million people; similarly, we do make a 65.1 billion to about 3.25 million patients through our waterdrop medical and local funding. We adhere to the U.S. First service for most principles. We continue to optimize our business process and provide users with more personalized service.
Yang Guang: [inaudible]
Yang Guang: [inaudible]
Yang Guang: [inaudible]
Wei Ran: But in recent, in regions populated by ethnic minorities, our platform now supports bilingual fundraising, and in a subreddit of cases within local communities, and at both sides, AIFs and funding will take their vacation to minimum costs. Further, you can see our reputation and credibility. We actively participated in the construction of Polkakwebong as a multi-level medical security platform. Thanks to this project and our charitable initiatives, in June, the company won the annual charity project and the annual charity model as the 204 charity gallery.
Speaker Change: But Infant, in regions, publicly by ethnic minorities, I will welcome now support by legal fundraising, aiming in the spread of cases with illegal...
Speaker Change: [inaudible]
Speaker Change: Surther, you can see our reputation and credit deal get credit deal ready.
Speaker Change: We actively participated in the construction of a whole khaki gong, as the most level medical security struggle. Thanks to this project and our charitable initiative, in dual the company won annual charity project and annual...
Wei Ran: In future, the company will continue leveraging the user insight and service capabilities to bring more social value. During this project, our health care related income was 26.4 million at 4.2% to a quarter of a quarter. We cooperated with a total of 155 people and zero. Over the ages and services for data aid and use programs going through two. We focused on digital trains and accounts for trial and the mobile child marketing solutions to the world's broader client base from this angle. Our health care related business has been established for over two years and has quickly rise into the top of the week.
Speaker Change: Chariot and Model as the 24-charity Gala, in seem true to the company with the continuity of the machines that use it in finance and service capability to bring more social values.
Speaker Change: During this quarter, our health care relating to the time of 6.4 million, at 4.2% throughout part of the quarter. We collaborated with a total of 145 concubles in CRL.
Speaker Change: [inaudible]
Speaker Change: [inaudible]
Speaker Change: The healthcare related business has been established for over two years and has quickly rising to the top three. This year we will continue to maintain our competitive position in the industry.
Wei Ran: This year, we will continue to maintain our compatible distribution in the industry.
Wei Ran: As a thing tonight, we'll replace more AIFs on the balance between the growth and operational conditions, assessment investments and the promote the balance development of systems. In Q2, it's robust patient network and AIFs technology. The eFUN platform enrolled over 8,000 and 20 patients. Bring the total of two over 8,000 stakeholders. in the podages for an asthma trial with a leading MSC. It's used to target its online media and patients' energy is committed to a re-road 100 and 45 patients in less than 8 months. Spending treatment options for our patients and for the applied swallower problems. Over a TPL project finished in rural many in less than 2 months, the top thing is client consultation.
Speaker Change: at the thinking I will replace more at the five lines, the balance between opposite the flow and the alchrychial institutions, assessment and assessment, and the promotes the balance that I've developed as a student.
Speaker Change: and I have technology. Let me find a problem in road over 8,000 and 20,000. Bring the total of 2 over 8,000 to 6,000.
Speaker Change: in the punishments for an asthma trial with a leading MSC. It's just a part of it's online media in Patience Monkey, who is committed to a new world of 100 and 45 patients in less than 8 months. Standing treatment of course.
Speaker Change: Action Flowers, Teaching, and Learning Applied Solid Clotting.
Speaker Change: The OPPO Project Simissioning World, many less than four months at the top of the client's location.
Wei Ran: Without our funding, if you were aware, our cooperation with both domestic and international leading pharmaceuticals has to continue to extend. This covered in cooperation with one of the global top 5 companies from Google. The platform won this for three conformities to the top 5 projects, because of our good reputation. In addition, the others in hand are continuing to accumulate.
Speaker Change: and the other off-sanking, if you'd prefer a ability.
Speaker Change: Our cooperation with both domestic and international leading pharmaceuticals has become new to expand. This cooperation with Guang Yang is the global top five from Zubo. The problem is, why is this? The three and finally, is the top project. We can follow a group of recitation.
Speaker Change: In addition, the oldest in Canada, Continuously.
Wei Ran: They also fully reached a cooperation with the member of leading MSC to its core, and it is expected to start cooperation in the second half of 2014. The online platform is committed to empower industry with student realization and actively participate in virus-relative academic seminars. This quarter, the platform joined with DCT's practice case and analysis project in 2005, so China's Society for Drug Revolution. We shared AI-enabled cases in the intelligence subject to recruitment model with handlers of experts and scholars in extensive recognition and trust. In terms of digital multi-channel marketing business, the platform has embedded AI capabilities in multiple business meetings such as reporting, report interpretation, knowledge-based construction, and the patient's management Q&A in the process of patient management projects with the living MSC.
Speaker Change: is also a totally reached a cold region with a number of feeding and a seed to these colder. And it is expected to start a cold region in the second half.
Speaker Change: [inaudible]
Speaker Change: the EFAN platform is to make sure in power industry with student validation and actively from the case. Environment. Yep.
Speaker Change: Relative Academic Standards.
Speaker Change: Executive, this quarter is the platform join with these ECG practice case and mouth best project. In addition to by so China's design for drug revolution.
Speaker Change: and we shared AI-enabled cases.
Speaker Change: and the Intelligence Secretary of the Coomance Model. The hangers of Accord and Followers in, we can extend them.
Speaker Change: [inaudible]
Speaker Change: In terms of digital multidis...
Speaker Change: Channel Marketing Business, the problem has in that AI capability in multiple business
Speaker Change: Reporting Report in Depretation, Knowledge-Based Instruction, and Patience Management, Q&A.
Speaker Change: [inaudible]
Wei Ran: With our help, the patient's return rate and the customer satisfaction has been successful significantly in-curve.
Unknown Executive: Thank you for listening.
Unknown Executive: I will now hand over to Shishadeen to discuss our financial performance.
Speaker Change: [inaudible]
Unknown Executive: Thank you, Jiru.
Unknown Executive: Hello, everyone. I will now work you through our financial highlights for the second quarter. Before I go into detail, please be reminded that all members called Jiru will be R&B, and please refer to our early school list for detailed information on our financial performance on both a year-old year and a quarter of a quarter basis, respectively.
Speaker Change: Hello everyone, I'm now working through our financial highlights for the second order. Before I go into the business, please feel reminded that all members called the queue will be on each in the previous report to our earnings through this for a detailed information on our financial performance.
Unknown Executive: Thank you, Jiru. By seeing the three challenges, the company is overall performance among people. The company achieved that including revenue of 600 and 76 million people year-old year by down 4.1% quarter of a quarter. The insurance rating from amount to 570 for millions, down 5.4% exponentially, corresponding to the receipts amount to 689.3 million, up to 9% quarter of a quarter. Well, healthcare-related income was 26.4 million, up to 4.2% exponentially.
Yang Guang: [inaudible] Yang Guang
Speaker Change: Qing Qing, Bai Yin, Qing, the three challenges. The company is onward all the problems from this day before.
Speaker Change: and the company achieving that recruiting relevant year of 666 million people year over year, but it's down 4.1% quota of quarter.
Speaker Change: The insurance rating from amount to 574 helium, down 5.4.
Speaker Change: President of Sequentially, corresponding to the overseas amount to six.
Speaker Change: at the 6th and 9.3 million, up to 9% of the quarter. While healthcare relating count was 26.4 million, up to 4.2% of the financial needs. Regarding operational cost and the expenses, the commonly continued to focus on improving operational efficiency. In the second quarter, the coming over all opportunities cost and the expenses work.
Unknown Executive: Regarding operational cost and the expenses, the company continues to focus on improving operational efficiency. In the second quarter, the company overall of creating cost and the expenses for 6,000 and 24 million, representing a decrease on both y and y on a quarter of a quarter basis. of Lin Cobb, built from 233 million in the second quarter of 2003 to 300 million in this period. It's an inclusive term in the scope of consolidation; operating costs increased by 11.5 million in a personal cost year over year. Partially, it's 12.9 million decreased in cost of referral and 17, and 8.6 million decreased in cost of institutions, recruitment from one team.
Speaker Change: [inaudible] Yang Guang
Speaker Change: of Lingkhao's cell from 233 in the end, due to the second quarter of the time in the key to the handwritten and the 19 in this year. Is that inclusive of...
Speaker Change: and I'm talking about in the social consultation, operating costs include 5, 7.5 million in a personal cost of year. Partially, I'm saying 12.9 million to create in cost of referral and...
Speaker Change: and 8.6 mm decrease in cough-up, tensions, recruitment and routine.
Unknown Executive: And there's a combined influence of creating costs a decrease by 4.2 percent compared to the few in the last year. Quarter or quarter basis, operating costs a decrease by 3.7 percent, and then due to a decrease in the cost of referral and services of 10,000 SNM expenses, were 157 million decreased by 23 percent year over year, and 13.6 percent quarter or quarter. It's mainly due to the decrease in marketing expenses to third-party traffic channels and personal costs in this quarter. GNA expenses were 94 million, decreased by 2.1 percent year over year, mainly due to the decrease in personal cost because of the team adjustments.
Speaker Change: and there's a combined influence of creative office equipment.
Speaker Change: 5.2% compared with the theme-curator after years.
Speaker Change: Cultural Accorded Bata, a Green Pop secret by 3.7% and they give you a secret in the way to follow on the routine of 10 years.
Speaker Change: S&M, Lee Xenzi, for 157, you need to create five to 20, 20 percent, you know, year and 13.6 percent total of quarter. If many do choose a decrease in marketing, expensive, expensive, or you have a channel and personal cost means it's quarter.
Speaker Change: Chennai, Phencets, war at 94.
Yang: Yang, get replaced by 2.1% year over year. We need you to be replaced in personal calls because of the key in the second.
Unknown Executive: Quarter or quarter basis, it increased by 5.6 percent, mainly due to the combined impact of increasing allowance for stock roll counts and reduced professional services. R&D expenses were 53.3 million and down 38.5 percent year over year, and 2.8 percent total of all of you choose a decrease in the personal cost and share that the company has been extended.
Yang: [inaudible]
Speaker Change: R&D Census, well, 53.3% and then down 38.5% year over year, and 2.8% photo-of-one of you, too, with the critic in the person of cough, and the share rate to come to the Census.
Unknown Executive: In second quarter, the company then changed the equal operation. And that profit attribute is available to the company's ordinary shareholders, increased by 307 percent from 21.7 million to 22.3 to 88.3 million in the current period. Operating cash inflow remains positive; the quarter was a massive flow of 15 million.
Speaker Change: and Seconds for the Communist and Staggle Operations and Applied Attributes.
Speaker Change: is going to be the first time I've ever seen a girl in the city.
Speaker Change: in Korea by 307% from 21.70 million in 22.3 million to 88.3 million in the current period.
Speaker Change: [inaudible]
Unknown Executive: So, in the head, we will continue focusing on operational quality, optimizing financial performance, and in routinely helping with business development.
Speaker Change: [inaudible]
Unknown Executive: And ladies and gentlemen, with that, we will conclude today's conference call. We just thank you for joining.
Speaker Change: Episode 2
Unknown Executive: As a reminder, today's conference call is being recorded. Please know that the discussion today will come forward with constraints made it under the expectation that you want to target security and the litigation reform act of 19 and five. For a looking statement, a factor to risk and an assertiveness and make actual results to reform, materially form our current expectations.
Unknown Executive: Judicial risk and an assertiveness is equal but not limited to those outlined in our public sliding with the SEC. The company does not undertake any obligation to update any forward looking statement, except as required as under-actical law. Also, this call includes discussion of such a mechanism there.
Unknown Executive: Please refer to our earnings release for recommendations between negative and negative.
Chen Peng: Students asked today on the call of Mr. Chen Peng, our founder, chairman, and CEO, Mr. Yang Wei, director and GM of insurance business with Xu Xiaoyi's head of finance department and his destiny for secretary. We'll be happy to take some of the questions in the mentoring line at the end of the conference call.
Chen Peng: Hello everyone, this is Chen Peng. You may tell me on the floor the salary data was dropped eighth and then we're three. Over these years, we have continuously iterated in-page.
Chen Peng: Typically, over the past two years, basically with a complex and changing environment, the company has to actively transform its distance. We have to create our emphasis on the delivery of the value for doing county operations and ensuring sustainable growth. As a technology company, amid the new wave of AI, we are actually exploring the application of large-language models such as LOM in industry to build the company core competitiveness for the next last stage.
Chen Peng: Thank you to our office, continue to advance with existing strategies achieving robust financial performance. The company, over all round, we reached a total of 600 and 76 million. Our net profit attributable to ordinary shareholders is nearly 88.3 million, reflecting a year-old, a year increase of over 200 percent. What a drop has been in terms of a lot of these potential recorders is Q1 of 212.
Chen Peng: What is our consolidated leading position in the industry? Firstly, our insurer, and the business, probably FYP reached 1.78 billion with an operating profit margin exceeding 21 percent. In April, we initiated a quality service upgrade a year, offering good service with product and good claims to users to further viewed our brand influence to also achieve the first aspect of customized solutions, exploring broader applications of the LOM with insurers. Secondly, what is the medical co-affonding activity that is in the mobile level of medical security systems?
Chen Peng: Offering services in bilingual language and improving users during our operation, efficiency improves, and the second law is reduced continually. Thirdly, in healthcare related business, our patient, crewman, talked on business cooperation with pharmaceuticals. Moreover, we achieved a high quality durable in CRO and the digital marketing with our clients.
Chen Peng: In addition, we admitted to the social responsibility and sustainable development, and the company won annual charity project and annual charity model as a 214 charity gala. By the end of June, the World's Up Charities platform has partnered with a 112 public charity organizations and I'm forwarded a bit more than 15,000 projects. It concludes that we have a whole queue to a performance.
Chen Peng: Currently, the industry is investing to policies which may pose more sudden challenges in short-term. However, we are confident in a lot of benefits from high quality development and will actually see the industry's opportunities. This year, the company remains committed to its financial funding targeting double-digit revenue growth while maintaining robust profitability. We are grateful for the ongoing support of our shareholders and investors and for our time to shareholder interest and investor returns.
Chen Peng: The company has been actively purchasing shares in open marketing for three consecutive years. All seems 211. As the announcement is over, what does that have to do with 29.2 million ADS for over $100 million. Recently, our board has approved a new share of the purchase program, also widening the company's purchase of up to $50 million within the next 20 months. The pre-purchase shares will be used for ESOL, encouraging our employees and the company to grow together.
Chen Peng: In addition to the actual purchase, in March, we are releasing our full-year results of $20.2. The company, on off, is first a special tax dividend, which is releasing based on the strong profitability of $20.3, which was paid into two. What we forward, if our business remains healthy and within co-operatives, we plan to distribute dividends at least once a year to reward the support of our shareholders and investors. We have seen so now the board of co-operatives come into two in March, is the second special tax dividend based on the first half of the $20.4 of pre-purchase results.
Chen Peng: The total dividend amounts to about $7.5 million, with $0.2 per audience share and two cents per ADS. The shareholders of audience share and ADS, as the clean data of October 12th, out of October 11th, 1.4 U.S, is in time on entitled to dividends. I would now have to round away to get our insurance equipment out to two. Thanks, musician. So to the insurance business, we generate about $1.78 million in FRQ, QAQ increase of $1.4 of the same.
Chen Peng: Insurance-related income was about $570 million, and as the accrual profit was about $1.2 million. The accrual profit margin increased at a level of more than 21%. To remove the total insurance FRQC at $1.25 million, at $8.2% of quarter of a quarter, new income policies remained the surge in year 20% sequentially. We advised our customer activation through platforms like records, TikTok, each of videos, and so on. We were able to scan user insights, and it provides more accurate products, recommendations to your AI technology.
Chen Peng: Striving the number of new users at $15.8% to a COQ, we also focus on CUD and FRQ. [inaudible] Facing out low safety operations and extended high EOTM, which lead to 1.7% rise up in quarterly per capita premium. We intend our common metrics for the life planner approach, increasing the life planner on premium contribution, emphasizing private domain operations for online sales. We leverage Hollywood's motions to create a very basic, resulting in a 22% increasing private domain premium.
Chen Peng: Also, we reach our product line-up, which is the ability to ensure product premiums to reach 8,000,000 to 2,000. To improve either experience, we introduce an upgrade member to service, operating health management and other close-up benefits. It's planning our work for end-to-visibility. During this quarter, the company continues to be doing its offline role-criticism, complex complaints, team upgrades, and improving services. We also strengthen cooperation with insurance areas and include product competitiveness. The team is also looking at the benefits in either acquisition and premiums relief in crystallization. One job and the turnover continues to strengthen the synergy of insurance technology.
Chen Peng: It explores the application of AI in the planner model and improves user-acquisition patients in Q2, the company promoted innovation and customization in insurance products, including upgrading in cancer protection insurance, maternal and child insurance, and inclusive insurance in terms of the health insurance based on the 16 family re-users. The company has intensive results upgraded with cancer and insurance products, providing a combination of reimbursement and fixed payments for cancer patients, and it includes either ability to cope with the risk, providing users with loss in protection.
Chen Peng: The series of maternal insurance will help you continue to leave the industry. The product has been upgraded to 4.3.0, and we have been launched with the parent child insurance. It is the same coverage to make protection use after the child's birth. In the field of insurance for pretty decent conditions, our inclusive insurance, relaxing insurance, chronic disease insurance, and health care based, narrow insurance products have been highly praised by a large number of customers.
Chen Peng: This is the related experience that felt existing 100 million. In Q2, we continue our R&D investment, a near-AOAN application in medical critical units, and so other insurance products. Q2, we secure slides and filed over certain more protective panels relating to OAN. Our R&D is now focused on south service narrows, developing the full cost of AI insurance components platform. This application can replicate human voices and accurately identify customer action tensions, setting a new standard in the insurance industry.
Chen Peng: Our medical insurance service, and now featured in AI Consultant Team, which has already had the average performance of human consultants in 30 and 0, with a personal cost of just a 10% of human consultants. A lot of genome work, AI technology, we assign a strategy to punish it to ensure one of public insurers in this quarter, making our first external incaliment, how to customize the commercial AI Consultant solution. Another arrow and execution, the ICO pilot, Guang Beng, is applied to move the scenarios of our insurance business.
Chen Peng: Guang Beng can have this explanation of terms and policies, products, corporations, products, a recommendation, and a rocking assistant. Getting back to the increased efficiency and improved the very experience, it has a low capacity. More than 60% of all our human consultants, so insurance programs tenders a thousand times.
Unknown Executive: Next, here we will introduce the development of the company's corresponding and the house related business into two. Thank you, Ramway. As I said, NFQ-2204, around a full-time unit, 61 Minions keep hold. Similarly, we domain the 65.1 Minions to about 3.25 Minions through our Woodrow Medical Funding. These two two appear to be the first service for most principles. We continue to optimize our business process and provide users with more personalized service. For instance, in a region populated by ethnic minorities, our platform now supports bilingual harmonizing, dating in a subreddit of cases within local communities and both are by AI activists in bilingual case verification to minimum loss.
Unknown Executive: Further, you can see our recitation and credibility. We actively participated in the construction of Polkakwebong as a multi-level medical security system. Thanks to this project and our charitable initiatives, in June, the company won annual charity project and annual charity model as the 24 charity Gallup. In future, the company will continue leveraging the user insight and service capabilities to bring more social values. During this course, our healthcare related income was 26.4 Minions at 4.2% to a quarter of a quarter.
Unknown Executive: We cooperated with a total of 155 people and zero. Over the ages and services for data aid and use programs going through two. We focused on digital trains and accounts for trial and the movie's child marketing solutions to the more broader client base from this angle. Our healthcare related business has been established for over two years and has quickly widened to the top of the week. This year, we will continue to maintain our compatible distribution in the industry.
Unknown Executive: As a thinking model, we'll place more exercise on the balance between the growth and operational conditions, assessment and assessment and the promote the balance development of systems. In Q2, it's robust patient network and AI tech technology. The EFUN platform enrolled over 8,000 and 20 patients. Bring the total of two over 8,000 stakeholders, in the podages for an asthma trial with a leading MSC, it's used to target its online media and patients in the community to regrow the 100 and 45 patients in less than 8 months, spending treatment of options for our patients and for the applied swallower problems.
Unknown Executive: Over a TPL project finished in rural many in less than 2 months, the top thing is client consultation. With that we're also spending a bit of our ability, our cooperation with both domestic and international leading pharmaceuticals has to continue to extend. This covered in cooperation with one of the global top 5 employees from Google. The platform won this for three conformities to the top 5 projects because of our good reputation. In addition, the others in hand are continuing to accumulate.
Unknown Executive: We also fully reached a cooperation with the member of the leading MSC to its core and it is expected to start cooperation in the second half of 2021. The EFUN platform is committed to empower industry with student realization and actively participate in virus-relative academic seminars. This quarter the platform joined the DCT practice case and analysis project in 2005, so China's society for drug revolution and we shared AI enable cases in the intelligence subjecture recruitment model.
Unknown Executive: The tenders of experts and scholars in within extensive recognition and trust. In terms of digital multi-channel marketing business, the platform has invented AI capabilities in multiple business meetings, research reporting, report interpretation, knowledge-based construction and this patient's management Q&A in the process of patient management projects with the leading MSC. With our help, the patient's return rate and the customer satisfaction has been successful. Significantly improved.
Unknown Executive: Thank you for listening.
Unknown Executive: I will now hand over to Shishan Yi to discuss our financial performance. Thank you.
Shishan Yi: Hello everyone. I will now walk you through our financial highlights for the second quarter. Before I go into detail, please be reminded that all members call you here with an RME and please refer to our early school list for detailed information on our financial performance on both year-old year and quarter of a color basis, respectively.
Shishan Yi: Continue to buy in the three challenges. The company is over all performance in one single. The company achieved in that including revenue of 600 and 76 million people year-old year, but down 4.1% quarter of quarter. The insurance rating come amount to 570,000, down 5.4% exponentially, corresponding to the receives amount to 689.3 million, up to 9% of quarter of a quarter. Well, healthcare-related income was 26.4 million, up to 4.2% exponentially.
Shishan Yi: Regarding operational cost and the expenses, the company continues to focus on improving operational efficiency. In the second quarter, the company over all of creating cost and the expenses for 6.2 million and 24 million, representing that big of Lin Cobb, built from 233 million in the second quarter of 2003 to 300 million in this period. It's an inclusive term in the scope of consolidation, operating costs increased by 11.5 million in Christmas coffee year over year.
Shishan Yi: Partially upsetting the 12.9 million decrease in cost of referral and 17 and 8.6 million decrease in cost of situations, recruitment from one team. And there's a combined influence of creating costs a decrease by 4.2 percent compared to the fin to the last year. Quarter of quarter basis, operating costs a decrease by 3.7 percent, and they give you a decrease in the cost of referral and services of 10.9 million. S&M expenses for 157 million decrease by 23 percent year over year and 13.6 percent, quarter of quarter.
Shishan Yi: It's mainly due to the decrease in marketing expenses to third-party traffic channels and personal costs in this color. G&A expenses were a 94 million decrease by 2.1 percent year over year, mainly due to the decrease in personal cost because of the key investments. Quarter of quarter basis, it increased by 5.6 percent, mainly due to the combined impact of increasing allowance for stock roll counts and reduced professional services. R&D expenses were 53.3 million and down 38.5 percent year over year and 2.8 percent, quarter of quarter due to the decrease in personal cost and share that the company hasn't extended.
Shishan Yi: In second quarter, the company has a chance to able operations, and that profit actually deals with two of the company's ordinary shareholders increased by 3.7 percent from 1.7 million to 2.0.3 to 88.3 million in the current period. Operating cash in flow remains positive, the quarter was a massive flow of 15 million.
Shishan Yi: So, in the head, we will continue focusing on operational quality, optimizing financial performance, and maintaining healthy business development.
Unknown Executive: And, ladies and gentlemen, with that, we will conclude today's conference call.
Unknown Executive: We just thank you for joining us.