Boqii Holding Limited Class A Ordinary Shares

Thank you for standing by. Welcome to LCHIEF Fiscal 2022 First Quarter Earnings Conference Call. Currently, all participants are in listen-only mode. Later, we will conduct a question-and-answer session, and instructions will follow at that time. As a reminder, we are recording today's call. If you have any objections, you may disconnect at this time. I will now turn the conference over to Mandy Liu, Boqi's IR manager. Mandy?

Yeah, thank you, operator, and good morning, everyone. Welcome to Boqi's Fiscal 2022 June Quarter Earnings Conference Call. Joining us today are Ms. Lisa Tang, Co-Chief Executive Officer and Chief Financial Officer, Mr. Kai Fang, Chief Strategy Officer, and Mr. Loyal Dai, Financial Director of Boqi Holding Limited. We released our results earlier today. The press release is available on the company's IR website at ir.boqi.com, as well as from Newswire Services. A replay of the call will be available on the site later today. Before we continue, please note that today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's actual results may be materially different from the expectations expressed today. Further information regarding these and other risks and uncertainties are included in the company's public filings with the SEC. The company does not assume any obligation to update any forward-looking statement except as required under applicable law. Please also note that certain financial measures that we use on this call, such as adjusted net loss, adjusted net loss margin, EBITDA and EBITDA margin, are expressed on a non-GAAP basis. Our GAAP results and reconciliations of GAAP to non-GAAP can be found in our earnings press release. Also, please be reminded that unless otherwise stated, all figures mentioned during the call are in Chinese renminbi. With that, let me now turn the call over to our co-CEO and CFO, Ms. Lisa Tang. Please go ahead, Lisa.

Thank you, Mandy, and many thanks to everyone for joining the call. We are pleased to reveal another strong quarter of solid financial and operational results for fiscal 2022. Overall, GMB continued to see strong growth, up 42.9% year-over-year to RMB 792.1 million. Total revenues grew 35% year-over-year to RMB 321.8 million. Within accepted exceptional revenue growth of nearly 20 times year-over-year from online marketing and information services and other revenues. These results illustrate recognition of the unparalleled working process and value proposition by industry partners. On the user engagement front, our active buyers reached a record-breaking $1.6 million this quarter, up 27.9% from 1.3 million in the same period last year. Apart from continued robust growth of the number of active buyers, active user engagement efforts are translating into higher spending. Our active buyer spent an average of RMB 418.4 in this quarter. up 11.7% year-over-year. AOV also grew 14.8% year-over-year to RMB 322.9. The way we attract more customers and encourage them to spend more with us is again evidence of our dedication to optimizing our rich user experience through building our content, products, and services. We always bear in mind our social undertakings. Building on our past charity work, we initiated a wild range of animal care events this year, with special attention to stray animals in universities and distressed animals during the Henan rains and floods. We worked with Fudan University and Heart Cat Association to jointly launch a semester animal rescue program. We partnered with Sina News and the Zhong'an Charity Foundation to collect 3.55 tons of pet food donations for animal shelter homes and the rescue organizations. We gathered over 10 brand partners for concentrated donation efforts and timely response to the flood-ravaged Henan Province. to rescue animals in early August. Providing 10 animal shelters across the province with nutritional, medical, and sterilization supplies worth RMB 1.15 million. We've always wanted to make the world a better place for pets as well as raise awareness for animal protection and care in China. As China's leading platform, we believe our commitment to social endeavors will resonate in the industry and create more profound influence. Now I will turn the call to our Chief Strategy Officer, Kai Fang, who will share more details on our strategy and financial highlights. Kai.