Yeahka Limited

Ladies and gentlemen, good day and welcome to eCal Limited 2023 Interim Results Announcement Call. At this time, all participants are in a listen-only mode. As the management's prepared remarks, there will be question and answer session. Please be advised that today's conference is being recorded. I'll now pass the call to Mr. Van Chow, Board Secretary and General Manager of Corporate Development and Capital Markets for the company. please go ahead, sir.

Hello, everyone. Welcome to ECAS 2023 Interim Results Conference Call. Before we start, we would like to remind you that this presentation includes forward-looking statements that involve a number of risks and uncertainties. Information on general market conditions comes from a variety of sources outside of ECAS. Now, let me introduce the management team. First, Luke Liu. Our founder, chairman, and chief executive officer will kick off with an overview of our business. I will then go through our business review. Zhang Yao, chief financial officer, will conclude with a financial review before we open up the floor for questions. And Derek Lai, our director of finance, will translate for Zhang. I will now turn the call over to Luke.

Thank you, Ben. Good evening and good morning, everyone. In the first half of 2023, We once again delivered a strong performance as we benefited from the offline construction recovery, while Senegi, of course, our three main businesses, expanded and gained traction. Our payment GPV and active merchants continue to grow, as did the GMV in the highly competitive in-store e-commerce segment. We further boosted merchant conversions from our one-store payments to our merchant solution services and strengthened users' business through ongoing digital and AI-driven transformation. Meanwhile, we have applied foundation model technologies for in-store e-commerce to how to generate graphic and video promotional content to build merchant brands and boost sales on multiple traffic platforms. Now I will share some details on the progress we made in the first half of 2023. For payment services, we further solidified our marketing leading position. We outgrew GPV and the number of merchants Compared with the market and covered with our enhanced fee rates, we delivered tremendous top-line growth, reflecting our unique positioning, rooted in value creation for both merchants and consumers. During the reporting period, we further enhanced our channel network, expanded our joint merchant acquisition collaborations with banks, penetrated our service coverage to key accounts such as branded franchise and wholesale markets, and further enhanced our ECNY capabilities. Payment continues to be the fundamental of our ecosystem as a traffic gateway. We are committed to a thriving payment business, both domestically and abroad, delivering greater scale and profitability for further fortifying of scalable ecosystems. For in-store e-commerce, the sector has become more diverse, with many traffic platforms playing or popping these highly dynamic markets to better help merchants with marketing and brand exposure. We innovated our content offering capabilities by adding live broadcasting and AI-powered interactive virtual hosts. In addition to the AI-generated content products that auto-generates promotional materials and short videos. Also, we served more brands while improving our financial performance. provided our geographic coverage by partnering with local resourceful teams, namely our co-operative model strategy. In this asset-light model, we provide a proprietary system that includes CRM content generation, KOL matching, and live broadcasting infrastructure. to local partners, allowing them to focus on serving merchants only. We are in this 35 trillion RMB local lifestyle market for long term and will continue to be the go-to partner for merchants and platforms. As the market matures, the in-store e-commerce business will contribute more revenue and cross-sell opportunities for