KANZHUN LIMITED

Q3 2021 Earnings Conference Call

11/23/2021

spk_0: ladies and gentlemen thank you for standing by and welcome to the canada ltd third quarter twenty twenty one financial results conference call at this time operatives offense or in listen only mode after the speakers presentation there will be a q and a session today's conference is being recorded at this time i would like the turned a conference over to miss when bay while at of investor relations beef go ahead ma'am
spk_1: thank you or greater good evening and morning everyone welcome to our third quarter twenty two the well a conference call johnny me today our founder and chairman and the see only to jonathan permit up and our director and the fearful mr fielding john before we thought we would like to remind you that today's discussion may contain forward looking statements which are based on management countless but patient and observation that you both known and unknown risks uncertainties and other factors not under the come control which may cause actual results performance or achievements of the coming to be mature
spk_2: different
spk_1: the come in posts are you allowed to place undue reliance on forward looking statements and to not undertake any obligation to update is what we're looking for mason except as required by law you're into they've called management were also discussed certain lung that financial matters for comparison purposes only for that michelle of number of financial matters and though with consolation of that to london for little without please see the annuity you should earlier today in addition a webcast replay of this conference call will be available our website and i are both shopping dot com we set our an the quota jonathan our founder chairman and ceo
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spk_5: woman or the are you know some people that you'd probably for jones on that open so trivial go the you just don't you to chew on the yahoo core problem
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spk_5: didn't even those you know what ensued surgical to consult your your ego and ambiguity good people cheat
spk_7: yoshida cause with about you
spk_5: a and into that people are the are you near shit two years old while i just entire life also the she'll who social to the before so you job good for me like you do about shoots golf with on them to the woman that hundred that a lot about it soda that woman you about hot don't go the you could do now go to yoga that fool your book good i shall i'm not putting them get up
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spk_5: leaders sheba you feel about it's yet we be gonna go to itself that's you know go to charlotte charlotte zero point module to that he relied on those are or a from job
spk_1: hello everyone welcome to our third quarter to ten who well on a conference call on behalf of all our entire company i will lead to spread our sincere thanks to our users and in that sense for your trust and support the third quarter is the first complete recording pls add to our company went public and it's it's also a special period as many of you already know we'll look that legislation on the bookkeeping ab has been suspended due to like it could get into one in compliance with the said both occurred to me as the company good have for back to the thing is it's establishment the suspension of new that decision has bought great challenges to our team however we have also taken with as an opportunity to focus on improving our stories for existing users and reinforcing the development of our core competencies and have made some for social progress over the last month i believe that of into fight with a both to go people my not that authority be able to become strong a company which can go to congress that into they had a better chance to become bigger
spk_5: sexually charged with a woman virginia sunday do ya should all dollar which was huge thank you do on the are solo laden be saga sagal yellow bad about know that can be conduct cool cool cool judge judy for yoga genitalia fortunately didn't
spk_9: lay a sunday and bows
spk_5: san diego woman bucks to get a peter king do an ama your to launch and bother bachelor chubby junior dot com que ser della back into our fallen by the summed up
spk_1: let's start with our members we managed to to be done without in the third quarter of this year we recorded total revenue of arm be at one point in the one during the quarter i didn't play hundred five percent a year on year and now adjusted net income if voting share based compensation been with armed be three hundred and eighty five million in the third quarter our average images on the books written absolute to the a point six million reporting live within a year on the or go through a talk to the a point six percent
spk_5: also that in the san diego males you would have to cook to be on the year with nature your user thirty fourth fall for bush you have a black cock or mcgill is one those are you most of the your shows you female fucking bill
spk_7: you got juncture georgia woman or you had to wait of agree more
spk_10: chiba rachel and did
spk_5: i'm a order one be geo glued to buy them the shadow
spk_7: you got onto your shirt one though you're way do
spk_5: clay your gear your just a meal that each you can you do for your for know that particular may have huge visa bill cucumber games are you will know what she does she enjoy life you you don't preach yeah poetry almost it so about in the fall just a little million forty will abolish all your job to the children thousand four note user the know comes out here go to always at your did are yet
spk_7: deposited into a possible
spk_6: osha goalie your child him caught
spk_1: this assumption of new that with the truth and throughout the entire third quarter each in be the had a impact on our business however we believe that good or bad mood and is that to new obama business model remains unchanged which was proven by many obama to performance indicators firstly our monthly active you the number to remember to the table with emma you're equating only reason god did a quarter over quarter secondly both knew the up to need an engagement on our platform which is represented by diego as a present a double whammy you and were you though inclusion rate remained stable we believe that the fundamental we them for this is the section needs of our ourselves model which was built a new find the with ma bell native become nation and their up tab functionalities over the past seven years and the have to do like efficient and the ladder by job seeking any putting service to our users especially for those assumptions and the long tell job seeker bucks absolutely some that problem for them in many cases
spk_5: combat yes i shot the tutoring during of washington's yeah without bloodshed woman credibly ship and got cheer top woman who could see them a soldier you papa pushing the you lease i couple you will go hot food one of the educational know you've had a lawyer who bought with you why you'll you'll put up with your boss woman from dead soldier such as he gets it want to live will unless you suggest against all showed you don't you talk plug or bullets won the calder your yoshi lucky it was a little do that
spk_11: you don't join our the censorship
spk_5: roman polak and order to yeah did shirts and how long have we gone target hope what you'd have to fool foods that so much would it up
spk_12: larger issue
spk_5: well into yolo tally on the slope ah to go hungry and audio says you couldn't go cool album your daughter visual georgia who are doesn't got some the influence on that opposes it teacher that should hold on to use on they do it without causing got voted off or that you it you don't are bundled the your daughter she does your vehicle ye shall each year does your own the was in smaller the oval food an elite yet i'm taller pundit you cheat sources in the home surplus pushing into
spk_1: i will briefly share we see the effort we have taken to go stronger ascension purely for new season you already july we need to take me shake it up with me optimization problem the park which is to provide better submit to commercial customers we also launched a nifty little protection plan where we focused on to thing the first was still be more see a job seekers or have greater walking urine a longer does within cycle and the higher job searching cost we devote to the devoted molly thought the to support head hunter advisers working together with them to better served the i got fucker second launched and project equate to help build relatively bit of lung the do quarters and dropped because he the market with better opportunity leverage and powerful support from along with them based on up with them and industry said to we are pursuing the fair needs of the by natural resource allocation among job seeker and recruiters on our platform college students and more and the michael into place a youth a good could benefit is about august and belabored not only pull ourselves come ability or all gotten hum our tea coffee and the confidence to work together
spk_5: you potential woman that your father me but we all the time of the puzzle functionality and ga ga that laliberte on it or much as you point out that shows you of weird or yorkshire sort of weird us all that can be shocked to see that she some virtual have july you get woman to the hansel to the answered sherman acute on july the transition gender issue pull down at on get identity you'll watch would you do it's yet when we opened our traditions in general but i got with you for sharing shot limbs also but under developed or somebody landing don't get to some fun to eat your shit query landrieu for paddock and are unsure cliche letter to the gym that
spk_1: meanwhile we have achieved the progress in one of our closer to the development area looted blue collar service we continue to at night or what are the wanted it is the have been sober sector without you need to run your contribution continuing to increase we also begun to actively for the manufacturing sector focusing on making complacency improvements to dub posting of education and the government alone your the into literally optimizing our blue collar job because users the oh and we are increasingly confident that through our elected and planted by the management of blue collar intermediary and our continued investment in technology and apply worthy taken team we will create a safe and without about jobs with can perform for blue collar uber
spk_5: well my urine body polo team had a i'm ginger so woman or a search are unsure of what hundred you could another was a books from shit yoko on the directions on us and are you like they each have by the jokes that she had on your now kitchen chances in that for yet the judge on the good on freedom consume wanna eat algae i'm sure that thought you were censored
spk_7: your shot a job you like know for the tree ball with hoelzl
spk_5: well most of them jersey pop would show together answer but yet sega lama told him some kind of so major
spk_1: we continue to invest heavily in our path one for thirty percent true our offline life could be worth with hm and a routine have extended to cover it tasted it combined with other online you up with them they are able to verify the authenticity of for more than ninety percent of our enterprise classic with our inquiries the new some crackdown hundred stitches of nonsense that apply to call my situation we have effectively the do do that sometime late we firmly believe that protecting the city and yelling stop the car is a lifeline of an online common platform
spk_5: workers toys are your odds are changing the law while i attention well year and i do you prove what you're glad when she had surgery about chicago you're supposed to or man you're hired he called the order the actual you got into would either decider so you're unsure cooker use about with a party but judge on food you and your holiness about become a teacher book figure one got the the ugly up with l a book that bullshit you it yada siddle cause you know militants up there you that she had from them being would good at that they celebrated surrogate they told them that blogger niger you to either should i did lawyer logic you the other woman for your teaching the thought that it on sugar go to those who join chat could use about wouldn't be
spk_7: would you thought i thought i'm a total or churches should keep on voluntarily
spk_5: good on the league tables let's have to do you do they don't shoot a doctor
spk_1: lenny now talk about the ongoing progress of cyber security with you we are actively copulating with a week later and maintain ongoing communication at the same time we have strengthen our foundation on data security and privacy production in accordance with the higher than that of the industry as well as the seal is a and north of evolution of the that's a good you and personal privacy production if work is grimly necessary for it and that platform in any field the building of this kind of core competent miss out you simply never fully well into applied to reduce responsibility for users like of our to call letters and new was this ability of one at an era we can confidently say that during this period the company had not only let the hey buddy has security and privacy protection by to we have also going to be improved our capabilities in this area i believe this ability to create have been a sustainable that for the company's long term development
spk_5: go it's angela young for college and your local didn't thank you to should so chancy for the ego london but yet he about see such a vertical don't go on for too long lunches and taught you that they are not pushing them the jolly good fortune talat you that also general lots of does sunni cancer your usual have you done during shit you can go to that end up he got your known to asia and the jungle good she had a firearms trundle judge you walker time the told gentle a chance you should i should in a sure julia security aka you're either what's you to that kind of woman siam was you could use one only the your chauncey you shoot at all it yet though woman that you would hundred and one hundred for shoveled hundred of them for a job walk up the oven book seven will it them that they were like woman too much easier
spk_1: are you there that he met her yet caught her is your first company reported killed it had already during this product we have been under cyber security you and were not able to go our youth up and on threat of social situation as a public company we have always been committed to leverage the power of technology to take your social responsibility on to make a valuable contribution for the development of into the dog and the prosperity of enterprises weeks up i and team both security believe that this kind of internally department is negatively and move ball i can see clearly that in fact he needs of our business model and technology cup abilities continue to be validated liverpool requirement and trending up our technical team the clouds him and helped him he still growing steadily and a we are full of confidence for the future
spk_5: what the over georgia utah jody she's allies you wanna go to the several feel with i got yes home that's how would you have to set
spk_1: this that allowed him to our sample sale for the new of our financial thank you
spk_13: thanks jonathan hello everyone thank you for joining our own is called though i would like to keep up brief overview of our third quarter twenty twenty one financial results and then i will discuss our all look for the next quarter before i began note that all amounts are you aren't be on the all comparisons are on a year on year basis unless otherwise stated
spk_5: oh performance in the third quarter once again demonstrated our effected business model and improving leverage despite the suspension of new you the registrations our total revenues reached the arm be one point to believe in the quarter of a hundred and five percent young here beating the high on of our guide us when our calculated cash billings new quizzed by sixty two percent to rb one point two billion
spk_7: with online requirements so this is w a account people more than like nine percent of our total revenues we are pleased that with the rapid growth of our pay enterprise customers
spk_13: which reached a new record of four point zero million in the twelve months ended september thirty one he twenty one movie on to the called the file photo operating costs and expenses war aren't be nine hundred and three million for the quarter or increase open sixty two percent resulting in a positive operating income of arm be three hundred love
spk_5: billy overcast the of revenues increased by a hundred twenty five percent to arm be a hundred fifty four believe in the quarter with was margin remaining robusto at eighty seven percent
spk_13: that a market expenses increased by forty seven percent to rmb four hundred and sixteen million in the quarter primarily due to our inquisitor had a calm and he has the brand advertising activities
spk_5: what is noteworthy is that our sales and marketing expenses representative thirty four percent of our that when you're in the quarter song by
spk_13: philippine point seven percent a percentage point you a year
spk_7: which was partly due to our continued improvement in modeling efficiency
spk_5: but also but it was also because but was also without all that refused on not be expensive as we continue to to be suspended from accepting new you their vegetation research and development expenses increased by fifty percent to arm be two hundred and nine million general and administrative expenses increased it by eighty four percent to arm the a hundred and twenty three million
spk_13: both primarily as a result of increased the headcount and the shared his compensation expenses
spk_5: our had a come for aren't the and sales continue to to well sequentially in the quarter
spk_7: well firmly committed to continuing to the investor in technology and of hop haven't to further he has all the core competencies
spk_13: our net income reached up arm the two hundred and eighty six million in the third quarter compared to arm the thirty three million in the same quarter last year
spk_5: excluding cherbourg compensation
spk_13: are adjusted and net cop was on be three hundred and eighty five billion in the third quarter translating to i adopted a that margin of a thirty one point eight percent representing a plenty three percentage points improvement
spk_5: our numbers in third quarter can showcase the healthy and a robust a modern pop out of our core all i recommend been it that way believe out our billion per achieve as our business mature in the future
spk_14: our that margin opposites are all that cash generated from operating activities was rb two hundred sixty nine believe this quarter and as of september thirty one twenty one we had a tattoo on saturday equivalent and a short term investments of our on the
spk_5: eleven point nine billion
spk_14: i'll attack reserve utah's grid confident in our ability to execute are was bad at which we believe a we'll deal with considerable term in the long term
spk_15: and now for all been as ago
spk_13: for the first quarter with the last quarter of a twenty twenty one waste expect our total revenue to be between arm be one point zero to believe and aren't be one point zero five philly we're preventing a year on year pulse rate up of approximately fifty eight percent to sixty two percent the cyber security reveal has had a real impact on our revenues as revenues correlate directly directly to our users the guidance for the next quarter is based on assumptions that the reveal will last at need the your the end of december as jonathan just mention are operating data shows out with your have or healthy user base at the house the plague racial and that are paid a customer retention and a racial also with many stable with a business at the money has a some models deal effect it will have place that we can be back on all previous quote while flat as last woozy oh our you the registration future
spk_0: that concludes our prepared remarks now we'll will have to answer questions operator please go ahead of with questions thank you as a reminder to ask a question you will need to press start why on a telephone and wait for your name to be announced if you wish to cancel their request these past the pound or heskey
spk_16: here first that send comes tom anyone from morgan stanley please ask a question a total eager and bay watch our how park i had it'll at you are so says and on south to go sent to the it he found challenging of a society eager to one have been into the hill auditioned on south and delivered so much how can a year to wat oil eleventy deal on t c a quandary change and go from wanting to do age and the talking on his shoulder you a handout she says son up with hunted with you or treating by the amanda to let them fool country affecting much and good or to play with us you know young for us it's going to have wanted a blogger what she's up email to my find that woman that to the show that them for shop i shall make a sound to georgia jobs aren't just a short term sense that to the a city and i have your know canada has just a shudder a hotdog what alleging to of a talking on the inside you they will nice up publish a google can mean and the to watch and it into high male you have i'm challenging they go off and time to her way around to the teacher with i take a toll ping pong mean that you have to truth or should i change south artist the galactic gargle canarsie go silent you i just saw ah odd to me guys would i do a woman to the city to the jig treating tissue fighting ah to see ichiyoshi i saw you at the church and open up will for jager a single who the to touch with her now about us i your mail real hard or take a ticket a guessing they you take a to show on his entire summer so on and yes orcs were shown them jager us to outsourcing cheat or to thirty guess you know who they walk and again banner the pfizer thank you for taking my question i have ah two questions for the as about the my quite comics are in your flow in china or do think there's any impact are on the an hour on the us over all i recall my sacrament andor if they have any impacting are you know a our been as the in the fourth quarter and the in twenty twenty two and a second question is about to do have for any miscibility off when you know the yeah cyber security or investigation will be completed it and there are where we are ah it's likely to in a resume
spk_5: last year use every dish big registration ah i'm i'm like thank you top how does he any to lunch yet
spk_7: ah was up with added the ireland here
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spk_6: on july job woman until the should of that that
spk_5: i was a chance with oh sure log on gesture ios it gg to pick up for adoption old home yeah your shit woman angeles kings would add up north but if i were the offshore and your mentally get on and judge out that while chat who are grades about move on and on got the shooting a gaggle into playing in a diva
spk_1: on the ukraine ah a fellow worked on for your second question about our windows by both the true to the we'll we'll finish are we can resume our newsletter registration or the come with a doesn't have a clear timeline up today but as i don't have defamation that to see our with when we can get the first well with me appropriate to actively cooperate with a little turn to maintain a collective communication that we hope of this as he attacked him as soon as possible that the can that is that we are
spk_5: i'll never go to college of their blue totally i had to to enhance our do that the treaty and the personal privacy protection according to the reason we should not an illusion clanging the eagle and was on the opted up on was here the talking to pop and would feel your zelda onto the theory to the you go with your this the interim leader she stood up ah i would you go glen the acts as we shall ye google seeger was with i shall each year the with only does the to be shortly wanted all julio she tell i got concert we love year can realistically we'll still diet
spk_7: say they don't show it yet holy the could it is it
spk_5: ha ha so that you go went into the and saw the much to themselves or wanted to make moods he has somebody should be done he got shot again and the again i was with i am talking the eagle on civilian our jungle out in by the and in wiki away a jungle your supposed to go and sit on the of that you up to go it what on his own goodwill er schon food yet it i was on tv that either you will remember i will go each or on that you got lombardi galileo you got bob on the trade data domestic use on that the novel bid on top
spk_17: commended you get your the way to go with as to of that
spk_5: does your robot that t well known follow you can go up you want your dated oct i can either obama trade shop on of if i get phantom men and on up financial to say up that he jumps she's saw probably one of the module ago visual added yet he thought you told agence yet lead to the you got eg you the usual shall it yet
spk_1: literally the gg their mandate or why did you put on in the civil or that we was on gentle at challenging of the to put on okay to answer your question the macro economy would would that may have a impact of that are recruiting didn't the theory is that it but i have several miles myself up here the first one is that train i either without her routine come for come come week could have lot of more and i'm michael enterprises there i'd take a million the company and the hundreds of millions of people which one come nominee harrods are no more them or ten tenth of people and for us more and i'm michael enterprises the that their they sex had to right is that the my poor an impact on the company is read it is most the are quite strong i had you want to leave with enough to for fifteen years and i have seen the financial crisis in two thousand and eight and the market had poor dumb i need to i use like somebody shoot them to my theory that you please put together by voting about putting boss and the with you about eight pounds hammered should be taped that the policy he diluted out or together at for that of for whether we put together like seldom seen on boss and we use the same a pump hammered should be done that top two pm on both my time i broke by the that will be safe
spk_5: and that's the difference between a a
spk_7: economy which is compromised to with a big big and the to touch my endo economy with compromised little more and michael into places so when the my quick he goes down the lateral the of the life
spk_5: i'm glad you will miss or that of since hall or i don't get to to the gunshot he goes thought that was it shows you that shocks me they talking shit all usually to a little the guy was abolished and self published on jan to are shoulders and to be shut down to look at your up
spk_1: the my wasn't on the hook leave with a lot polygon shot you to publish a reversal the ocean the option wonder if you wanna go when talk yesterday that number and the for the market the we are yeah i had to in my opinion the first place is the nominee economy continued to go down i am i a gymnast be cheap the more and my point of pride take that keep up the majority or that there is that such a level of
spk_5: he lay so when the method can recover toilet the volume down without opposite the led to the moon oh that yoga can get into the fire chief and bout your coworker or that for the
spk_7: there's a woman said that you will have more suitable teacher utility of a to the tickets yet
spk_18: like an italian of
spk_7: obama should use option gable judgment
spk_6: he the yet
spk_5: nicole do that single ball she got job you know how to play the up the dishes in what has your the
spk_1: yeah glee that up with a lawyer with shinji that shinji by out you for the financial generally game to show that seem that go hot today i should use yes you what the a teenager was rewarded and cannot what it should still joshua the pub and my unappealing that combined with the industry and overcome company out ourselves because we are offering a cell with each can see of the more and a my put into place is much better now our outrage recruiter spending spending on our problem quite limited as a couple one month no more than one hundred of on be so we had the better value for money
spk_16: if you it he went in the current term a situation you wonder macroeconomic have done when people can someone people want to have them they're recording it's of ipa problem with me by term medical mining the past your attack lot of that to paying for our ourselves
spk_0: and that's my opinion for the question
spk_19: but i yet other girl that they her next question comes from wage all a few be s ask a question age although you go amiss off by like a hop of guys have line is haunted or that he went out with a deal when she national quiet zone wrong are you a called it off one a lot has shrunk high yeah sure sure traveled out the kid or council joseph or that my your military it all just sit in central the how he had assumed on got you are your fat on from a the obama the whole not serious damage that i should end the hill which was hot i felt alessandro pneumonia sounds enjoys alcohol that i should and swollen eyes open for lap out sure much harsher that in oil shit i'm lama the ones you know some changes happening in the end of your his own dollars you sure
spk_20: you mustn't that battle easier to the lot on your and had a should your has betrayed the a memorable quotes i'm under seal was also an uncle that financial way for the fuck out woman in the end of your hawthorne gonna be all about as recently on that i'll go from the output base how you on some may end up hope of how to allow unchangeable golf the cellular to is i'm under yoga or should i use all fail easy to have you any it wasn't me on the south ossetia north of the a phase out when you am i thank you manage my for taking my questions on first i want her ass about the competition side given that i'm your ability to grow new users are may remains impacted in the past your miles of have we seen any changes in the competitive landscape in the online i agree from a market and in the meantime what
spk_13: are the areas that management has been focused on of in order to maintain you are competitive advantages in the longer term i'm and second just on the user growth outlook for next year i'm if we assume that the new user growth can be resumed or the next year or what the was what would be your abuser growth top good for the next year and are associated with that what what is your argues or acquisition strategy and the impact on the margin and selling a marketing spencer's next year thank you
spk_21: oh thank you for your question i work to answer you
spk_13: first question the first paddled your first question the jonathan caught out more about what we have a done with the with the competition so regarding for the are competitive landscape with think that's from third parties data you can see that too
spk_5: basically in pastor oh
spk_13: what past quarter or couple month there was no big change so our service or still had appears with largest the monthly active users and the daily active users so or or gap will appear to steal large enough or and the so you can check with some third party a market research or tracking data to to find find the fact that in terms of the the user engagement level like kinds been like daily mail app using frequency or we are still highest among peers so basically the company is a steal a very healthy situation
spk_5: even we we will have suspended or have been suspended or with you the registration during the past quarter and the thirty regarding for our are you there be patient
spk_22: on our own data shows that the way we're not our users were not affected by the fiber secret arabia
spk_23: the user retention racial keeps very stable and healthy so only goldstone better or well still very healthy and the robots are you know in a very good situation
spk_5: although one up with and to channel the law once you
spk_7: so on and isn't hard to do was younger she gave women the to add to the google or bethesda with has little your hand off what i saw the tigers shop
spk_5: i should use all was young she would to observe solomon's whole woman to going to go if he of was launched a deal for seniors so the yet the in georgia you live good i wasn't sure how to legal counsel some gamecube about the merger will you about pleasure or without your pajamas on funded them doctor says version combat shit other to who jessica should i do that you know where your sunday sandia you that you do they also don't have a would argue about project funded jessica you and would either that as or was a mosquito jaffa father younger yup yes yes yes sir joseph also those who judge her for your will you send him bob was on it usually eat out to and idea just so dumb issued in a total while wanna drink engine and i bought a holiday or you sure what i hear your chance you the you see the judge the i guess it's enough to the or that you'll put it that you would he do under one hundred yen shot he does it say she's a leadership the material to delusional you wanna one final down where you door and your shit habitually don't you can top you would have a how hit us again up fedora your usual that who knows what about it how does some us again chop chop go on to minute the global village on been jungle cindy solely a joke about the present your didn't know on the german budget and joshua
spk_6: so young who have always had you can go hot of who didn't go hotter and yes
spk_5: or to keep you on the toilet you don't need all our food intake out you do your mother the at a would soon common gumption how easy to go hot of what's essentially the tissue either was you that you will have the i will buy a not uses it the lads edge would it have you should handle somebody who you can do this or that showed it off color talking up
spk_7: the mods or you butcher and you treat your them go
spk_5: coach and you hundred dollar to hodja what are you meet you don't got on as we're looking the latter with on it kinda chauncey that you don't you need and via ponder yoga we'll go see live with him that you it said you're so i'm in a way so yale shower them out your true that the one day you should i move into usually uncle tucker yeah do they are not a judge legal they with the judges are you susan showed you gotta go father's and on that you do last year
spk_24: cod day until at my shit like you're talking that much it's yeah
spk_1: no the arguing and wolf an unconventional i only on the other team you judge and your how will you have said george obvious is not up to you know yesterday and yes you will majority of whom had young down towards the ledge who manage showman doctor label and on duty judge yeah i just silly got like young girl younger and you can use it they don't you osha that and you yes you are you're juggling to say on that you that you that you do what you do this again so hot for the who killed himself is it whether you use or guys you know that you got good luck woman duty for the going google with actually toys are tragic how are ya i'm kind of question are doing their best okay to reveal where the have down and up with down into the place where you ah for pointed them up ahead have we have provided our so is it has he selling eight years for monk mind they end up doing all that time we had been go belly fat dumbo you put the fire one hundred dollar about puts a two dollar on the growth on put it dies of a lot of sector and the things we cannot go out with us for the entire project so i put one hundred dollars in the infrastructure
spk_25: so what is infrastructure
spk_1: i had to pump for you the first language we continue to improve our data security and putting on privacy production we are proven and are investing heavily in technology in at post in our a over our system and that at the end up and i did it is a for several months had some a two month and with has to have long term value for our pumping and the companies under you the end a cool they'll be that he did did she move from l a powerful we identified to kind of loser the first line for those who have a longer adopted them feel as though when they can not find a job and go in the day they might have a longer what you are looking to go that highland look reach our past and might might have a higher high income so does he had jobs because as i just said we had put a lot of effort and up we started to what together with both have hunters to provide better service for those the i got close and to improve their and yet your second kind of with a group is so stop the and recruiters who i'd be an outlet to live with that month it is either got in the market then the under other circumstances like i'm offended when we have a gotten very fat i'll be the not a focus on our efforts on both people end up but apparently we can focus on our resources and though our our ah
spk_13: efforts and of our team has a better causes it to provide our service for those people is is that the the put project to play and we do have some a substantial progress on that part the funny thing that also to kind of people you have some value for of for the top secret if we temple
spk_7: i'd the sell it for them if they have a better because some on our platform though they can't attract more enterprises will have a need for that for that kind of thing on top secret
spk_5: and the second group group of that they might not have a great economic that as this moment they are other two babies of at all could do both but we believe that as a public company you should show them more photo photo responsibility for those for them so they have more social body so we believe to do that
spk_13: to to to o l o of away and a were to the feel it should have both economic and social values for ourself and the for this about it
spk_14: and that my overtly offensive also either your second question
spk_5: a good user growth target of for next year
spk_7: this question is how to alter at this moment or because we are not clear well way will be allowed to grow our users so
spk_13: week we can only do it to your in our normal operation so
spk_26: it's a is or the upon his the not not not today but a what what i can say that the
spk_5: from the discussions about you you can't understand that our business model is you value them very effective a during the whole third quarter with the authors of the largest the groups of job seekers and employers and a user's men paid a very healthy baby the bible or problem so they like hall perform and the
spk_27: since the beginning of a cyber security review process
spk_0: oh you're the pastor woman
spk_28: there there was
spk_7: play or the registration like a records from seventeen million users so one seven million users as we recorded so that was a huge number so a lot of users he wants to register all tough one but they cannot do it took you in the past the a couple months so what so the only thing that we can say at this moment a that once where were allowed to while our users were would do it were will regain over last a uterus at full speed
spk_13: a chip on his thank you management your next question comes from paul in lieu of china renaissance be ask a question
spk_28: and run it on gonna help of advantage in a gym and a do what salads new on the when she's a deal with you should like to go out into the judge a and about what oh malaysia senior holder jr you go upwards of now what are wage as ha dato male yes want an answer for the june it but jt gosh should have a woman legit or show more sheppard she had a yoyo from of the modular the on probably john set up with a gonna lose you should way i look we're allies and taxes shoe bomb union a deity
spk_7: people are not one iota should be out while the she ended up from jeb all put our number one and know data go on sale models are high school notice jason the hot our mail mail from it's she taught at feed do that you that you get it's worship or like the saudi don't for managing sell or nobody would help asia
spk_28: so odd to press for management or the first place regarding down
spk_29: that protests opportunities are from a senior job seekers oh and which we are normally hall told her workers are just wanted us to eat it and there's any difference in terms of our revenue model from this ottoman compatible with it
spk_5: other positive business
spk_29: the other question is about what if the cyber security review of continue to rosa how to ah the first quarter next year or which will made that have need to me some not crashed whole time mean though such as chinese new year and a great leader ali pace which show for that he had a ah
spk_7: the new user accusation
spk_6: i just want chat eat out on the management has any other measures aren't you plan to counter such negative impacts and see it on his home
spk_5: can you lend you a guy you killing fool off pushing any the thing yeah he said when on the higher they do a gym in that you go through squishy the smell and solo marcel kittel and you fit on a show you a woman and unable to have over such as yeah a senior tojo that would you know your to ghana than she now we have lived until she us in your month and then able to do this to the concert downtown woman you don't you need that your who on the food on the roof ago hot a fool the it go with your local hot of war bible he named julie the computer enjoy the jungle or mentions george's shop or the us somehow shooting team with a yoga yahoo that's good without woman sally mean should not leave us or the muslim to density and adventure
spk_30: did you have a on down the juggled get you a job with your shit you not would shoot charging him again so a majority as it
spk_5: oh my will and i got your heart and say to see you hodges a creature shoot content limits the that your meals much you what woman release your ladder so much of fossil how did that woman can really see more supernatural let that a woman has really good tennis senior juggle woman who went on so hot volume your before my shit don't know about sitting johnny good fit on chance in a consumer model i'm a woman yet you deal with you it on what jobs you are what are you got job or life hi fi channel as you know revenue of sight of out what it's for give the toilet yami the freedom ya the argument you the user killed mouth breather you may choose a woman pm puts it all to go so much or plates injured hada joshua newsletter that joshua onions or the you part of the that and gets that hot you're at your atlanta to the as you know what nominee in cheat on the top wait while he get a seat suits again job at you it
spk_1: to sit idle with you that you that you like the last like you ensure that the trendier to halt she says it's on we're talking shit on have the want you to what he didn't that i guess it uses see the huge ah that you quit nemo woman the i did your shirt joshua nice weather i'll need us again then when i'm in billion with a woman few male your her doesn't usually the sanctions on your which on up a young hot up above love our what gentlest such a negative send their wallets and i mean that wayne guy so how about you would ensure that is your home got sundance are you really can't on agree with was you with it them gap web would you're the one the ah jeez you mogul ball from should i should hop over woman your has a year with you on the i've waited sounds your in a more set to a hobby or for casual from oklahoma say that i was unique in canada down virginia and to it am question regarding the color you do have a very some understanding of industry now they do for it onto other thing i got the guy that niccolo apollo and there is in terms of what kind of revenue model let let it place and more are allowed team do have the same question out of which he called he can tag those some kind of funny at we do have our computers are internally the first line console be focusing on how to provide said i saw this poem for the thing i got sick time for the had hung tight spot doc enterprise his or her of the well post those syria opening to optimize our ecosystem a difficult well he said we don't have a clear with them model as as of now that are in the past and have him and with your ongoing is that all those enterprises whole the printing as he hung up the third printers the same than their products will provide are currently and if it's out i'll continue to happen and the for the additional revenue model out lately don't have a clear blue or right now i'd we have a believe that if we can provide a good service club i wouldn't let me help what we have done for the president here we we have create a play or through our you to have found the new that new model
spk_31: and that your second question be to a habit to answer when we got one where they are you the registration is if we tend not to him the necessary to to is an hour after the time with me affect what out and regarding the winter olympics that we can or regarded as that a marquee event of
spk_0: kids it normally the screw that to up after spring festival in said pixie the were recruited if we can not a acquire new that by then ah a we currently i'm nothing of any on new wave to acquire new that sub or the deal with not these by by them
spk_1: but what we will continue to do that i have to think of that clearly what will continue to do that will continue to improve our infrastructure and the one day done
spk_0: the new that know that decision with his we i am we will not tell him back to in the marketing a very aggressive way we get our do you can properly at the add to our families are the two hours early as normal and of that that my plans for now
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