Aurora Mobile Limited

Ladies and gentlemen, thank you for standing by and welcome to Aurora Mobile first quarter 2022 earnings conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be the question and answer session. To ask a question during the session, you will need to press star and 1 on your telephone keypad. Please be advised that today's conference is being recorded. I would now like to hand the conference over to our first speaker today, René Wangerstein. Please go ahead.

Thank you, Nadia. Hello, everyone, and thank you for joining us today. Aurora's earnings release was distributed earlier today and is available on the IR website at ir.jiguang.cn. On the call today are Mr. Weidong Luo, Chairman and Chief Executive Officer, and Mr. Shanlan Bong, Chief Financial Officer. Following their prepared remarks, they will be available to answer your questions during the Q&A session that will follow.

Our business plan is approximately double what it has been in the past. We took a little bit of a dip over the last couple of years because of COVID, but we're very encouraged about our development pipeline, as are a lot of our friends in the space. I think it's, uh, uh, don't see it. Uh, you know, I think there seems to be a lot of demand. Um, the capital, uh, has continued to pour into the space and, uh, but don't feel like it's overheated in the sense that, uh, when you look at all the other alternatives out there, it's, uh, multifamily space has been able to deliver good returns. And then the day we're providing a service that, uh, people need, people need good places to live. And so, uh, We're encouraged. I mean, bills are taking longer to get done. It's more challenging sometimes with conversations with municipalities. But I think we're pretty bullish about our next three to five year business plan.