Baidu, Inc.

Hello and thank you for standing by for Baidu's second quarter 2020 earnings conference call. At this time, all participants are in a listen-only mode. After management's prepared remarks, there will be a question and answer session. Today's conference is being recorded. If you have any objections, you may disconnect at this time. I would now like to turn the meeting over to your host for today's conference, Juan Lin, Baidu's Director of Investor Relations.

Hello everyone and welcome to Baidu's second quarter 2020 earnings conference call. Baidu's earnings report was distributed earlier today and you can find a copy on our website as well as on Newswire's services. On the call today, we have Jordan Li, our chief executive officer, Herman Yu, our chief financial officer, and Dou Shen, our executive vice president in charge of Baidu's mobile ecosystem group, our search and feed business. After our prepared remarks, we will hold a Q&A session. Please note that session today was a forward-looking statement made under the safe harbor provisions of the U.S. Private Securities Dedication Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties. The cause actually does differ materially from our current expectations. Potential risks and uncertainties include but are not limited to those outlined in our public findings with the ICC. including our annual report on Form 20-S. Haidu does not undertake any obligation to update any forward-looking statements except as required under applicable law. Our earnings press release and this call include discussions of certain unauthorized non-GAAP financial measures. We have made minor adjustments to our non-GAAP measures and we will actively apply these changes for comparison purposes. Our press release contains a reconciliation of the unauthorized non-GAAP measures to the annotated most directly comparable gap measures and is available on our IR website at ir.baidu.com. As a reminder, this conference is being recorded. In addition, a webcast of this conference call will also be available on Baidu's IR website. I will now turn the call over to our CEO, Robin.

Hello, everyone. Baidu's total revenues in the second quarter reached RMB 26.0 billion, declining 1% year over year, versus 7% decline.