Boqii Holding Limited Class A Ordinary Shares

Ladies and gentlemen, thank you for standing by and welcome to BOCHE's fiscal year 2024 first half earnings conference call. Currently all participants are in listen only mode. Later we will conduct the 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. Now I will turn the call over to Elle, Bochy's Head of Investor Relations. Elle?

Okay, thank you, Operator, and thank you all for waiting for us to start a conference call. And good morning, everyone. Welcome to Bochy's Fiscal Year 2024 First Half Earnings Conference Call. Today, Ms. Lisa Tang, Co-CEO and CFO, as well as Mr. Loyal Dai, our financial VP. We released results earlier today. The earning results is available on the SEC website. A replay of the call will be available on the site later today. 我们今天已经发布了业绩公告,可以在SEC官网查阅。 稍后电话会议的回放也会上传至公司的IR网站。 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 is included in the company's public findings with the SEC. The company does not assume any obligation to update any forward-looking statements except as required under applicable law. At the beginning of the meeting, please note that today's discussion will include the pre-trial statement made according to the Security Act of the U.S. private securities lawsuit in 1995. The pre-trial statement involves the risk and uncertainty of the employer. Therefore, the actual performance of the company may be expected to be realistically different from what is expressed today. Further information about these risks and uncertainties has been submitted to the U.S. Securities Exchange Commission in the public document. Please note that certain financial measures that we use on this call, such as non-GAAP net loss, non-GAAP net loss margin, EBITDA, and EBITDA margin are expressed on a non-GAAP basis. Our GAAP results and accelerations of GAAP to non-GAAP measures can be found in our earnings press release. Also, please be reminded that all as otherwise stated, all figures mentioned during the conference call are in Chinese RMB. With that, let me now turn the call over to our co-CEO and CFO, Ms. Lisa Tang. Thank you, Elle, and many thanks to everyone for joining the call today.

At the beginning of fiscal year 2024, despite the challenges of market uncertainty, we made great strides in revenue mix enhancement and cost control. With high margin private labels showcasing its resilience and indirect costs, also seeing a notable drop in amount and percentage to revenue, laying the foundation for a solid first half. As part of the manager team, we totally believe that we are moving in the right direction and we maintain confidence in the development of China's pet industry. We will continue to work diligently and passionately and we will keep a keen eye on market dynamics and opportunities so that we can generate sustainable returns to our shareholders Let's pass your time to Al to further update you on the operationals and the business developments in first half 2024. Thank you, Lisa.