iClick Interactive Asia Group Limited

Hello, ladies and gentlemen. Thank you for standing by for iClick Interactive Asia Group Limited third quarter 2021 financial results conference call. At this time, all participants are in listen-only mode. After management's prepared remarks, there will be a question and answer session. Today's conference call is being recorded. I will now turn the call over to your host, Ms. Lisa Lee, Investor Relations Director. Lisa, please go ahead.

Hello, everyone, and welcome to iClick's third quarter 2021 financial results conference call. The company's results were issued earlier today and are posted online. You can download the earnings test release and sign up for our distribution list by visiting the IR section of our website at ir.i-c-l-i-c-k.com. In addition, during the call, management will give their prepared remarks in English. During the Q&A session, we will take questions in both English and in Mandarin, and a third-party translator will provide consecutive translations. All translations are for convenience purpose only. In case of any translation discrepancy, management's statement in the original language shall prevail. Jian Tang, TJ Chairman of the Board, Chief Executive Officer and Co-Founder of iClick, will first provide a high-level review of the third quarter 2021 results and share his thoughts on our execution strategy ahead. Chief Financial Officer Terrence Lee will follow and give us additional insights on the financial results for the third quarter and provide guidance for full year of 2021. He will then turn the call back over to TJ for closing remarks before the call is opened for Q&A. 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 results may be materially different from the views expressed today. Further information regarding these and other risks and uncertainties is included in the company's 20-F, as filed with the U.S. Securities and Exchange Commission. The company does not assume any obligation to update any forward-looking statements except as required under applicable law. Please also note that ICLIC's earnings press release in this conference call includes discussions of unaudited GAAP financial information as well as unaudited non-GAAP financial measures. ICLIC's press release contains a reconciliation of the unaudited non-GAAP measures to the most directly comparable unaudited GAAP measures. I will now turn the call over to our Chairman of the Board, Chief Executive Officer and Co-Founder, Jian Tang. TJ, please go ahead.

Thank you, Lisa, and welcome to the call, everyone. Our third quarter performance was marked by continued exceptional enterprise solutions growth and modest growth in our marketing solutions business. iCLIC's enterprise solutions business has achieved an impressive eighth consecutive quarter of record revenues, growing 131% year-over-year to 20 million. We are encouraged by this performance, which continues to demonstrate the consistently growing demand for private domain traffic and online and offline integrations. Our marketing solutions revenues for the quarter grew 11% year-over-year to $67 million, which was a declaration from prior quarters. I want to first emphasize that the challenges we faced in this third quarter in our marketing solutions business were not unique, as we have observed this as an industry-wide phenomenon with our key partners and peers having likewise reported similar performance and outlook due to impact from shifting regulations and the uncertain macroeconomic environment. Having said this, we remain confident in the long-term growth of China's digital advertising industry. and are evolving to adjust to the changing market conditions. During the quarter, we adopted a strategy to balance sales growth and profitability in order to maximize long-term client retention. With this, we believe that our robust and diverse client portfolio puts us in a strong position to benefit from the eventual market recovery. By contrast, the demand for private domain traffic remains solid, and we continue to capitalize on this trend through investment in our enterprise solutions business and the robust execution strategies. Our leading industry solutions, coupled with a growing loyal client base are driving healthy revenue growth while offsetting volatility in the advertising environment among our brand clients. The uncertain microenvironment may result in a wider impact across business sectors in China, and we expect our enterprise solutions will not be an exception. That said, we have continued to invest in sales and marketing and R&D to support our rentalists' devotion to developing innovative products and further expanding our market share within key account clients. In light of the demand from brand clients for fully integrated private domain traffic solutions that go beyond SaaS, we will also devote more resources to developing our enhanced SaaS Plus model, which we believe will prevail over pure SaaS solutions in China. The technology and the market dynamics have been changing rapidly in China. And thus, we believe our SaaS Plus model, which also covers intelligent industry methodology and the full channel operations services, is more suitable for helping brand clients to unlock the market potential in the region. We believe that these investments will yield high returns as the microenvironment recovers. While we cannot forecast the timing of the recovery, we are committed to our long-term strategy and will continue to work closely with our clients and our partners to leverage our leading industry solutions within enterprise solutions. I would now like to share with you two exciting client case studies that demonstrate the growth engines feeling our ongoing success in enterprise solutions. Our recent partnership with the renowned French beauty brand OC10, for iClick's ability to tailor cross-border smart retail solutions. We utilized our iSmartGo solution to launch a O2O-focused reach-admitting program called O210 Travel Buddy that enables travelers to connect with brick and mortar duty-free stores, thus providing them access to a wide range of products they otherwise would miss, and driving sales growth for cosmetics within China's growing domestic travel retail market. It also paves the way for OC10s to boost revenues from duty-free stores throughout the entire APEC region to serve Chinese outbound travelers as international travel restrictions are lifted. We also look forward to leveraging the modules we have developed for the tribal retail industry to provide customized solutions for additional clients in the region. In addition, iClick helped CN Logistics, a Hong Kong listed company, to launch its first mini program providing quality wine products and successfully helped them tap into the enormous market potential of cross-border e-commerce. In the future, we expect to generate further synergies with CN Logistics beyond the current collaboration, utilizing CN Logistics expertise in the global logistics solutions to add more value to our current integrated enterprising and marketing solutions. As you know, iClick has formed a number of partnerships that allow us to deliver valuable full-stack customer solutions for clients and also generate strong cross-selling opportunities with high-profile multinational brands. We will continue to leverage these valuable partnerships to capitalize on the digital revolution sweeping China. These impressive successes demonstrate our replicability, scalability, and flexibility in utilizing eye collectors of the SHIELD products and our experience in tailoring solutions to meet the individual needs of multinational clients to expand both online and offline market share in China across new and growing sectors. In addition, we are proud to report several awards received during the quarter that recognize iCLIC's outstanding accomplishments and strong efforts. Among the awards received are two, I believe, merit special mention, including an award for e-commerce retail in the 2021 Hong Kong Business Technology Excellence Awards, which honors outstanding companies that made exceptional contributions in pursuit of technological innovation. We also received the Best Buy Site Team Award, highly commended by the Grom Awards for Digital Advertising, APAC, which highlights the very best of digital media and technology that sit behind the world's most effective campaigns. just to name a few. We are very proud of this outstanding industry recognition and will work hard to continue driving excellence in all we do. Before I end my opening remarks, I want to reiterate that we are encouraged by the continued outstanding growth in our enterprise solutions and remain vigilant in preserving our market share in marketing solutions. We also continue to be encouraged by our iClickers' deep commitment, and we appreciate the continued support of our loyal shareholders. This concludes my opening remarks, and I would now like to turn the call over to our CFO, Terence Lee, to discuss the third quarter financials. Terence?