Financial Data and Key Metrics - Total revenue reached RMB 92.5 billion, a 31% YoY increase, marking the first quarter to surpass RMB 90 billion [3] - Smartphone revenue was RMB 82.8 billion, up 17% YoY, with a gross margin of 11.7% [3] - IoT and lifestyle products revenue grew to RMB 26.1 billion, with a gross margin of 20.8%, a record high [13] - Adjusted net profit for the quarter was RMB 6.3 billion, with core business profit margin at 8.3% [3] - Cash reserves reached RMB 151.6 billion, an 18.7% YoY increase [16] Business Line Performance - Smartphone shipments reached 43.1 million units globally, maintaining the top three position for 17 consecutive quarters [12] - IoT and lifestyle products saw a 26.3% YoY growth, with smart home appliances like air conditioners and refrigerators showing strong performance [13] - Internet services revenue hit a record high of RMB 8.5 billion, with overseas internet services growing 18.3% YoY [14] - Smart electric vehicle (EV) revenue was RMB 9.7 billion, with a gross margin of 17.1%, and deliveries reached 39,790 units [14] Market Performance - In China, the company's smartphone market share increased by 1.2 percentage points to 14.7%, ranking fourth [7] - Globally, the company ranked in the top three in 52 countries and regions, and top five in 60 countries and regions [7] - The global MIUI user base reached 686 million, with 168 million in China, driving strong growth in internet services [13] Strategic Direction and Industry Competition - The company continues to focus on its high-end strategy, with the Xiaomi 15 series achieving strong sales despite price increases [4] - The "Smart Home + AIoT" strategy has driven significant growth in IoT and lifestyle products, with a focus on product innovation and ecosystem synergy [6] - The company is expanding its global footprint, with plans to bring its new retail model to international markets [8] - In the EV sector, the company aims to deliver 130,000 units in 2024, with a focus on improving gross margins and expanding sales and service networks [8] Management Commentary on Operating Environment and Future Outlook - The company highlighted the importance of AI in driving future growth, with a focus on building a unified AI ecosystem across all devices [9] - Management emphasized the need for continued investment in R&D, particularly in AI and EV technologies, to maintain long-term competitiveness [10] - The company expects strong growth in its smart home appliances and EV businesses, driven by product innovation and market expansion [6][8] Other Important Information - The company has been recognized for its ESG efforts, with improvements in MSCI ESG ratings and awards for corporate governance and sustainability [16] - The Xiaomi Foundation has donated RMB 650 million to support initiatives in technology innovation, talent development, and poverty alleviation [17] Q&A Summary Question: Growth path for the smart home appliance business - The company plans to transition from ODM to in-house production, focusing on core component R&D and expanding sales channels [19][20] - Gross margins for smart home appliances are higher than the overall IoT segment, contributing to overall profitability [27] Question: Factors driving EV gross margin improvement - Scale effects and single-product efficiency have driven gross margin improvements, with further enhancements expected in Q4 [25] - The company plans to continue heavy R&D investment in EV technologies to build future competitive barriers [27] Question: Competitive advantages of Xiaomi 15 series in a crowded market - The Xiaomi 15 series focuses on delivering a balanced user experience with no compromises, leveraging advanced technologies like ultrasonic fingerprint sensors and IP68 ratings [30][31] - The company's ability to maintain high product quality and user experience has driven strong sales despite price increases [44] Question: Synergies between EV and existing retail networks - The company is leveraging its existing retail network to expand EV sales, with plans to open 500-square-meter stores in premium locations [35] - The integration of EV sales into existing retail channels has shown strong efficiency, with high customer traffic and low operational costs [36] Question: ASP improvement in EV business - ASP improvements are driven by product mix, with higher-end models like the Max Pro contributing to higher average prices [38] - The company expects further ASP growth with the launch of new high-end models in 2025 [38] Question: Market share growth strategy for smartphones - The company aims to increase market share in key regions like China, Africa, and Latin America, with a focus on high-end product growth [39] - The integration of the "Human x Car x Home" ecosystem is expected to drive further growth in smartphone sales [41] Question: Outlook for high-end smartphone pricing and overseas expansion - The company believes that users are willing to accept price increases for high-end products, driven by strong product capabilities [44] - Overseas, the company is focusing on markets like Europe, Southeast Asia, and the Middle East for high-end smartphone growth [45] Question: Expansion plans for Xiaomi Home stores - The company plans to accelerate the expansion of Xiaomi Home stores, with a target of 20,000 stores by 2025 [46] - The integration of EV sales into Xiaomi Home stores has shown strong profitability and customer engagement [49]

Financial Data and Key Metrics - Total net revenue for Q3 2024 reached RMB 26.2 billion (USD 3.7 billion), a 3% increase quarter-over-quarter [9][10] - Online game net revenue was RMB 20.2 billion, up 5% quarter-over-quarter, driven by strong performance in PC and mobile games [10] - PC game revenue grew 29% year-over-year and 30% quarter-over-quarter, accounting for 29.2% of total online game revenue [10] - Gross profit margin for Q3 2024 was 62.9%, compared to 62.2% in Q3 2023 [11] - Non-GAAP net income attributable to shareholders was RMB 7.5 billion (USD 1.1 billion) [12] Business Line Performance - Gaming division achieved net revenue of RMB 20 billion, with PC games showing robust growth [2] - Identity V reached record high revenues for the third consecutive quarter, with unprecedented DAUs and global concurrent online players [2][3] - Naraka: Bladepoint celebrated its third anniversary, achieving record high revenue in Q3 2024 [3] - Justice Mobile celebrated its first anniversary, with over 8 million AI-driven NPCs created by players [3][4] - Racing Master launched in Japan, topping the App Store and Google Play Free charts [4][5] Market Performance - Racing Master expanded to Japan, quickly topping download charts and maintaining a strong position in the iOS top-grossing chart [4][5] - Justice Mobile is set to launch in Hong Kong, Macau, and Taiwan in November, with Dark City Dynasty preparing for global release [5] - NetEase is expanding its international footprint, with plans to release several highly anticipated titles globally, including Marvel Rivals and FragPunk [5][6] Strategic Direction and Industry Competition - The company is focusing on innovation and diversification across its gaming portfolio, with a strong emphasis on long-term game operations and player engagement [2][3] - NetEase is leveraging AI-driven NPCs and UGC (user-generated content) to enhance player experiences and drive engagement [3][4] - The company is expanding its global reach, with a dual strategy of developing games for both domestic and international markets [18][19] - Partnerships with Blizzard have been successful, with World of Warcraft and Hearthstone seeing significant player engagement post-relaunch in China [6][22] Management Commentary on Operating Environment and Future Outlook - Management highlighted the importance of innovation and quality in driving long-term growth, with a focus on delivering superior content across all business lines [2][9] - The company is optimistic about the future performance of its games, particularly in the international market, with several high-profile releases planned for 2024 and 2025 [5][6][19] - NetEase is committed to maintaining a healthy balance between commercialization and user experience, ensuring long-term sustainability [16][17] Other Important Information - NetEase Cloud Music continued to grow its subscriber base, with a focus on expanding its music offerings and enhancing user engagement through AI-powered tools [7][8] - Youdao achieved its first profitable Q3, with operating income exceeding RMB 100 million, driven by growth in digital content services and smart devices [7] - The company repurchased shares worth USD 543 million in Q3, marking a 98% increase from the previous quarter [12][13] Q&A Session Summary Question: Launch schedule for Whirlwinds Meets and updates on gameplay - Whirlwinds Meets PC version is slated for release by the end of December 2024, with the mobile version following shortly after [14][15] - The game will offer a combination of high-quality open-world exploration and casual social experiences, with a focus on both single-player and multiplayer modes [14][15] Question: Operational strategies for Justice Mobile and Aggie Party - Justice Mobile has shown strong player stickiness, with plans to enrich content and explore innovative commercialization models [16][17] - Aggie Party remains a high-DAU product, with ongoing investments in content creation and long-term content operation strategies [17] Question: Overseas game development strategy - NetEase is pursuing a dual strategy of developing games for both domestic and international markets, with several titles like Marvel Rivals and FragPunk set for global release [18][19] Question: Performance of flagship evergreen games like Fantasy Westward Journey - Fantasy Westward Journey PC has shown stable performance, with revenue growth in August and positive player feedback on recent updates [25][26] Question: Potential of Marvel Rivals and Blizzard's performance in China - Marvel Rivals has received positive feedback from closed beta tests, with a global launch planned for December 6, 2024 [20][21] - Blizzard's relaunch in China has exceeded expectations, with strong player engagement and a deep partnership between NetEase and Blizzard [22][23] Question: Pipeline updates and Project Mugen's status - FragPunk will undergo testing in December 2024, with a launch date to be determined based on results [24] - Project Mugen is set for its first offline test by the end of 2024, with high expectations for its innovative approach to open-world ACG games [24][25]

Financial Data and Key Metrics Changes - The company's net revenues grew by 5% year-on-year to RMB 260 billion in Q3 2024, with product revenues also up by 5% [6][7] - Gross profit increased by 16% year-on-year, and gross margin improved by 165 basis points to 17.3% [9] - Non-GAAP operating income rose by 18% year-on-year, with an operating margin of 5% in Q3, up 54% year-on-year [9][10] Business Line Data and Key Metrics Changes - General merchandise revenues increased by 8% year-on-year, driven by strong performance in the supermarket category, which saw double-digit growth [2][6] - Electronics and home appliances revenues grew by 3% year-on-year, with notable strength in September [7][8] - Service revenues grew by 7% year-on-year, with marketplace and marketing revenues up 6% and logistics and other service revenues up 7% [8] Market Data and Key Metrics Changes - The active user base and shopping frequency expanded, with a 20% increase in shopping frequency in the supermarket category [3][4] - The company reported a double-digit year-on-year growth in active users, particularly in lower-tier markets [4][5] - The trading program has positively impacted sales in home appliances and consumer electronics, with significant growth noted in September [12][13] Company Strategy and Development Direction - The company is focused on enhancing supply chain capabilities and logistics infrastructure to improve cost efficiency and user experience [2][3] - There is a commitment to maintaining price competitiveness through various promotional campaigns and expanding product offerings [4][5] - The company aims to leverage government stimulus measures to boost consumption and drive industry upgrades [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the economic environment and consumer confidence, emphasizing the importance of government policies in stimulating consumption [10][19] - The company plans to continue investing in user experience and expanding product categories to sustain growth [20][21] - There is a focus on long-term profitability improvement driven by supply chain efficiency and category mix [20][21] Other Important Information - The company completed a share repurchase program and announced a new $5 billion share repurchase program for the next three years [6][9] - The last 12-month free cash flow as of the end of Q3 was RMB 34 billion, a decrease from RMB 39 billion in the same period last year [10] Q&A Session All Questions and Answers Question: Can you talk about the growth in the 3rd and 4th quarter, and how long will it last? - Management highlighted that government policies have positively impacted consumption and that JD is well-positioned to leverage these changes for sustained growth [11][12] Question: Could you help quantify the boost to third quarter and potentially into the fourth quarter from the appliance trading programs? - Management noted that the trading program has driven increased demand for home appliances and that the full potential of the program is yet to be realized [12][13] Question: What are the strategies to sustain growth in supermarket general merchandise? - Management emphasized ongoing efforts to enhance price competitiveness and expand product offerings to meet diverse consumer needs [15][16] Question: What is management's view on the current industry competitive landscape? - Management stated that China's retail market has significant room for growth and that JD will continue to invest in enhancing user experience and supply chain capabilities [22][23]

Good day and welcome to the Bilibili Search Quarter 2024 Financial Results and Business Updates conference call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Juliet Yang, Executive Director of Investor Relations. Please go ahead. Thank you, Operator. During this call, we'll discuss our business outlook and make forward-looking statements. These comments are based on our predictions and expectations as of today. Actual events or results could differ materially f ...

Financial Data and Key Metrics - Total revenue for Q3 2024 was RMB 1671.93 billion, an 8% YoY growth [3] - Return on investment was 4% for the quarter [3] - Gross margin increased from 49% to 53% YoY [15] - VAS (Value-Added Services) revenue grew 9% YoY to RMB 827 billion [15] - International games revenue increased 9% YoY to RMB 145 billion [15] - Domestic games revenue grew 14% YoY to RMB 373 billion [15] Business Line Performance - Game business achieved strong income growth, driven by long-term tree games and new game launches [3] - WeChat and WeChat reached 13.82 billion users, while QQ Mobile reached 5.62 billion users [4] - Music subscription revenue grew 20% YoY, with 119 million subscribers [6] - Long video subscription revenue increased 4% YoY, with total video subscriptions reaching 116 million [6] - Mini programs achieved GMV exceeding RMB 2 trillion [7] Market Performance - International games revenue growth lagged behind total revenue growth due to extended revenue deferral periods [15] - PUBG Mobile and Brawl Stars drove strong performance in international markets [7] - Domestic games like Peacekeeper Elite and Valorant set new revenue records [6] Strategy and Industry Competition - Company is upgrading its e-commerce strategy through the WeChat ecosystem [3] - Continued investment in AI technology, tools, and solutions to enhance user and partner experiences [3] - Focus on developing long-term tree games and identifying new games with potential [18] - Emphasis on standardizing and indexing the WeChat Shop platform to improve user experience [19] Management Commentary on Operating Environment and Future Outlook - Management remains optimistic about the long-term economic outlook despite current challenges [26] - Company is actively adapting to regulatory changes and focusing on compliance [27] - AI is seen as a key driver for future growth, particularly in content recommendation and advertising [37] - Company is cautious in its lending practices and selective in its loan approvals [44] Other Important Information - Company launched two new games, DNA mobile game and Delta Force, which show potential to become long-term games [4] - WeChat Shop is being integrated into the WeChat ecosystem, with a focus on improving logistics and customer service [19] - Company is leveraging its expertise in gaming and live streaming to strengthen its cloud services [4] Q&A Summary Question: Impact of macro environment on business strategy - Company remains optimistic about long-term economic growth and is focused on executing its current strategy [26][27] Question: Future of gaming industry and company's strategy - Company sees a structural trend in the success of Chinese games globally and is investing in new tools and technologies [17][18] Question: E-commerce strategy and WeChat Shop - Company aims to build a unified and trustworthy e-commerce experience through WeChat Shop, with a focus on standardization and indexing [19][20] Question: AI integration and revenue potential - AI is expected to significantly enhance content recommendation and advertising efficiency, with substantial revenue potential [37][38] Question: Payment and wealth management strategy - Company is cautious in its lending practices and is focusing on building a robust wealth management platform [43][44] Question: Advertising and video integration - Video integration is a key driver for advertising growth, with potential for further ad load rate increases [48][49] Question: Collaboration with Taobao - Collaboration with Taobao is seen as beneficial for users and both companies, with a focus on compliance and user experience [50][51]

Financial Data and Key Metrics Changes - In Q3 2024, the company delivered 86,165 vehicles, representing a 61% increase quarter-over-quarter and a 94% increase year-over-year [2][3] - Revenue for Q3 reached 9.86 billion RMB, an 84% increase from the previous quarter and a 74% increase year-over-year [3][4] - Gross margin improved significantly to 8.1% in Q3, compared to 2.8% in Q2, with an average gross margin of 4.8% for the first nine months [5][6] - The net loss narrowed to 690 million RMB, showing substantial improvement compared to previous quarters [5][6] - The company reported a positive cash flow of 1.96 billion RMB in Q3, with cash reserves totaling 18.7 billion RMB [3][5] Business Line Data and Key Metrics Changes - The C series models accounted for 78.3% of total deliveries in Q3, indicating a continuous optimization of the product mix [2][3] - The company achieved a total sales volume of 172,800 vehicles in the first nine months of 2024 [3][4] Market Data and Key Metrics Changes - The company expanded its domestic sales network to 493 sales outlets and 362 service centers by the end of September 2024 [3][4] - In Europe, the number of dealer outlets reached 339 by the end of October 2024, indicating a strong international presence [3][4] Company Strategy and Development Direction - The company plans to launch the new B series models, with the first model, B10, debuting at the Paris Auto Show and expected to be available in the domestic market by Q1 2025 [7][8] - The B series aims to target the compact SUV market priced between 100,000 to 150,000 RMB, which is a significant segment in China [7][8] - The company is focusing on maximizing platform sharing and integrating advanced technologies in its new models [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about maintaining strong sales momentum, with expectations to exceed the annual sales target of 250,000 vehicles [9][10] - The company anticipates continued improvement in gross margins and a further reduction in net losses in Q4 2024 [9][10] - Management acknowledged challenges posed by geopolitical factors affecting the European market but remains committed to localizing production to enhance competitiveness [19][20] Other Important Information - The company is investing in R&D for AI and smart driving technologies, with plans to enhance its product offerings with advanced features [8][28] - The company aims to expand its sales channels to over 700 domestic sales outlets and 400 service centers by the end of 2024 [8][9] Q&A Session Summary Question: What are the latest sales and gross margin guidance? - Management expects significant sales growth in Q4, with a gross margin improvement anticipated [11][12] Question: What is the production capacity planning for the B series? - The company is working on expanding production capacity, with plans for a new factory in Hangzhou to support the B series [14][15] Question: How is the company addressing the challenges in the European market? - Management highlighted the importance of localization to mitigate the impact of tariffs and enhance competitiveness in Europe [19][20] Question: What is the expected contribution of the B series to overall sales? - The B series is expected to significantly boost sales, with a target of reaching over 500,000 units in the next two years [12][13] Question: How does the company plan to compete in the smart driving segment? - The company is focusing on integrating advanced AI technologies and enhancing its smart driving capabilities in upcoming models [28][29]

Financial Performance and Key Metrics - Revenue for Q3 2024 was $2.17 billion, up 14.2% sequentially [2] - Gross margin improved to 20.5%, up 6.6 percentage points sequentially [2] - Operating profit was $170 million, with EBITDA at $1.157 billion and an EBITDA margin of 53.3% [2] - Profit attributable to the company was $149 million [2] - Total assets stood at $47.2 billion, with $12.6 billion in cash and total liabilities of $15.8 billion [2][3] - Debt-to-equity ratio was 33.1%, and net debt-to-equity ratio was -7.1% [2][3] - Cash flow from operations was $1.236 billion, while cash used in investing and financing activities was $1.345 billion and $97 million, respectively [3] Business Line Performance - Wafer revenue accounted for 94% of total revenue, with other revenue making up 6% [6] - By application, smartphone, computer & tablet, consumer electronics, connectivity & IoT, and industrial & automotive accounted for 25%, 16%, 43%, 8%, and 8% of wafer revenue, respectively [6] - 12-inch wafer revenue increased to 78.5% of total wafer revenue, while 8-inch wafer revenue decreased to 21.5% due to some shipments being pulled into Q2 [6][7] Market Performance - Revenue by region: China (86%), America (11%), and Eurasia (3%) [5][6] - Overseas revenue decreased by 6 percentage points sequentially due to geopolitical considerations, while revenue from Chinese customers increased by 6 percentage points [6][7] Strategic Direction and Industry Competition - The company added 21,000 12-inch wafer monthly capacity in Q3, which was quickly put into production, improving product mix and increasing blended ASP [4][5] - The company is accelerating capacity deployment to support the automotive, industrial, and new energy markets [9] - The company is focusing on local-for-local strategies, particularly in China, to meet the growing demand for localization [6][7] Management Commentary on Operating Environment and Future Outlook - Q4 2024 revenue is expected to be flat to up 2% sequentially, with a gross margin between 18% and 20% [3][7] - Full-year 2024 revenue is expected to be around $8 billion, with a growth rate of approximately 27%, better than the industry average [9] - The company expects to release around 30,000 12-inch wafer monthly capacity in Q4, but verification of new capacity will take time [8][9] Other Important Information - The company's overall utilization rate increased to 90.4% in Q3, up 5.2 percentage points sequentially [5] - The company is focusing on product mix optimization to improve blended ASP and maintain stable revenue and gross margins in Q4 [8] Q&A Session Summary Question: Outlook for 2025 and opportunities in local substitution - The company expects growth in 2025, particularly in AI, with revenue growth in the range of 4% to 9% excluding AI and advanced processes [12][13] - Key growth areas include mobile, smartphone, computer & tablet, consumer electronics, connectivity & IoT, and industrial & automotive [13][14] Question: Capacity expansion and pricing pressure in mature nodes - New capacity announcements have decreased, and the company expects slower growth in 2025 compared to 2024 [16][17] - Pricing pressure is expected due to oversupply in the industry, particularly in power discrete devices [17][18] Question: Capital expenditure and capacity release plans for 2025 - The company has not announced new projects and is focusing on completing existing projects in Shanghai, Beijing, Tianjin, Lingang, and Shenzhen [20][21] - The company is leveraging existing capacity for power devices and does not expect significant new investments for this segment [21][22] Question: Demand for BCD process and industry outlook - The company has strong capabilities in BCD and expects continued growth due to increasing demand for power management in AI and IoT applications [36][37] - The shift to 48V systems in automotive and industrial applications is driving demand for higher-quality BCD processes [37][38] Question: Impact of AI on the semiconductor industry - AI is expected to drive significant growth in the semiconductor industry, benefiting both direct and indirect players [34][35] - The company is well-positioned to capture opportunities in AIoT and edge computing, which do not require advanced nodes [35][36]

Thank you for standing by and welcome to the Yum! China 3rd Quarter 2024 Earnings Conference Call. All participants are in listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Florence Lip, Senior IR Director. Please go ahead. Thank you, Operator. Hello, everyone. Thank you for joining YoungChina's third q ...

Financial Data and Key Metrics Changes - In 2023, the company's total revenue reached HKD 2 billion, with a gross margin of 42.5% [10] - For the first half of 2024, total revenue was HKD 1.18 billion, representing an 18% year-on-year growth, with subscription revenue at HKD 550 million and value-added revenue at HKD 164 million [10] - The net profit for the first half of 2024 was HKD 46.32 million, a 37% increase year-on-year [11] Business Line Data and Key Metrics Changes - The company has shifted its focus to content monetization since 2019, with this segment's revenue rapidly increasing to 60% of total revenue [4] - The company has maintained a customer retention rate of over 98% and achieved a compound annual growth rate of over 70% in revenue from 2021 to 2023 [10][21] Market Data and Key Metrics Changes - The Chinese capital market has shown a significant rebound, with the Hong Kong market outperforming the A-share market in terms of fundamental recovery and valuation changes [2] - The SaaS sector within the Hong Kong market has substantial potential for valuation recovery and expansion, particularly as valuations in the U.S. market have rebounded to 10-15 times price-to-sales ratios [2] Company Strategy and Development Direction - The company emphasizes a strategy of "foresight and implementation," focusing on AI applications and digital watermark technology since 2021 [5][23] - Future plans include strengthening AI-driven capabilities in copyright management and expanding market share in China through mergers and partnerships [5][30] Management's Comments on Operating Environment and Future Outlook - Management believes the current capital market environment presents both challenges and opportunities, with a strong fundamental performance that continues to attract investor interest [6] - The company is confident in its ability to maintain growth and will share further developments and strategies in future communications [6] Other Important Information - The company has established a Florida AI R&D center to enhance its capabilities in VIP content copyright management [5] - The company has formed strategic partnerships with major players like Ant Group to develop blockchain-based platforms for content rights management [5][12] Q&A Session Summary Question: What are the reasons for the rebound in the Chinese capital market and how is the Hong Kong market performing? - The Chinese capital market has rebounded significantly due to previous pressures on both the numerator and denominator, with the Hong Kong market showing better performance in fundamental recovery and valuation changes compared to the A-share market [2] Question: What is the business model and core competitiveness of the company? - The company is a leading provider of data asset protection and monetization services, focusing on helping content owners collect evidence of infringement and recover revenue from unauthorized use [3] Question: What are the company's future development directions? - The company will continue to enhance its capabilities in AI-driven information management and expand its market share in China through mergers and partnerships [5] Question: How does the company view the current capital market environment's impact on its operations? - The current capital market environment has some impact, but the company's fundamentals remain strong, and management is confident about future growth [6] Question: What are the company's key financial highlights? - The company has maintained a strong financial performance with a revenue model based on SaaS services, achieving significant growth and maintaining a high customer retention rate [21] Question: How does the company balance deepening existing customer relationships with expanding into new content areas? - The company focuses on large clients while gradually expanding into new categories, ensuring a balance between deepening existing relationships and exploring new opportunities [28]

Anton Oilfield Services Group (03337) H1 2024 Earnings Call September 24, 2024 04:30 PM ET Speaker0 Ladies and gentlemen, good morning. Welcome to attend Anton's twenty twenty four results announcement. Now let me walk you through the overall performance in the first half. In the first half, revenue was approximately RMB 2,200,000,000.0, representing an increase of 50% over the same period last year. Profit attributable to equity holders amounted to approximately RMB106 million, representing an increase of ...