Ladies and gentlemen, thank you for standing by and welcome to the Aurora Mobile First Quarter 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star one, one on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1, 1 again. Please be advised that today ...

Financial Data and Key Metrics Changes - The company's revenue for Q1 2025 reached RMB 89 million, representing a 48% year-over-year growth, marking the highest Q1 revenue since transitioning to a pure SaaS model [8][28] - Gross profit increased by 27% year-over-year, achieving the highest gross profit in the past nine quarters, with gross margin improving by 530 basis points quarter-over-quarter [9][28] - Adjusted EBITDA was positive for the seventh consecutive quarter, indicating a strong financial performance [9][28] Business Line Data and Key Metrics Changes - Developer Services revenue grew by 39% year-over-year, with subscription revenue increasing by 26% year-over-year [12][28] - Engage Labs recognized revenue grew by 127% year-over-year, with total contract value exceeding RMB 110 million in Q1 2025 [8][14] - Financial Risk Management recorded its highest revenue ever at RMB 22.2 million, growing 64% year-over-year [18][19] Market Data and Key Metrics Changes - The advertising spending recovery in Q1 contributed to a 269% year-over-year increase in Value Added Services revenue [16] - Market Intelligence revenue decreased by 26% year-over-year, reflecting ongoing weakness in demand for Chinese app data [21] Company Strategy and Development Direction - The company aims to invest more resources into the development of its enterprise AI agent platform and its global expansion [10] - The management emphasized the importance of balancing R&D and marketing expenses to sustain growth while aiming for profitability [45][46] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth momentum continuing into the rest of 2025, with Q2 revenue guidance projected between RMB 87.5 million to RMB 90.5 million, reflecting a 10% to 14% year-over-year increase [30][29] - The management acknowledged the need for continued investment in R&D and marketing to maintain competitive advantage and support future growth [43][45] Other Important Information - The company repurchased 16,000 ADS in Q1 2025, with a total of 295,000 ADS repurchased since the start of the program [31] Q&A Session Summary Question: Outlook for EngageLab business after achieving RMB 110 million contract value - Management confirmed the calculation of newly signed contracts and highlighted the ability to win significant contracts globally, though they set realistic expectations for future contract values [34][38] Question: When can the company expect quarterly net profit despite revenue growth? - Management explained that while revenue and gross profit are growing, certain expenses are necessary for continued growth, and profitability will come as the business scales [41][46]