Kingsoft Cloud Holdings Limited

Ladies and gentlemen, thank you for standing by and welcome to the Kingsoft Cloud's first quarter of 2020 earnings conference call. At this time, all participants are in listen-only mode. And after the speaker's presentation, there will be a question and answer session. To ask a question during the session, you need to press star and then number one on your telephone. Please be advised that this conference is being recorded today. I would now like to hand the conference over to your speaker today, Ms. Nicole Shan, Investor Relations Manager of Kingsoft Cloud. Thank you, please go ahead.

Thank you, operator. Hello, everyone, and thank you for joining us today. King South Cloud second quarter 2020 earnings release was distributed early today and is available on our IR website at ir.ksyun.com as well as on global newsware services. On the call today from King South Cloud, we have our CEO, Mr. Yu Lin Wang, and our CFO, Mr. Hai Jian He. Mr. Wang will review business operations and company highlights, followed by Mr. He, who will discuss financials and guidance. They will be available to answer your questions during the Q&A session that follows. Before we begin, I would like to remind you that this conference call contains forward-looking statements, with the meaning of Section 21E of the Security Exchange Act of 1934. as amended and as defined in the U.S. Private Security Litigation Reform Act of 1995. These forward-looking statements are based upon management's current expectation of current market and operating conditions and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the company's control. which may cause the company's actual results, performance, or achievements to differ materially from those in the forward-looking statements. Further information regarding these other risks and certainties or factors are included in the company's filings with the US SEC. The company doesn't undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required under applicable law. Finally, please note that unless otherwise stated, all figures mentioned during this conference call are in your name. It is now my pleasure to introduce our CEO, Mr. Yu Li Ma. Please go ahead.

Thank you, Nicole. Thank you for attending the press conference of Qishan Yun in the second quarter of 2020. In the second quarter, we will continue to focus on using technological innovation to improve our operation and financial performance. Under the guidance of policy, corporate digital transformation and technological development will be strongly motivated. China's cloud service market is growing rapidly. According to the data released by IDC China in May, China's public cloud market will reach $180.5 billion in 2020, which is a 45.5% increase. As the leading cloud service provider in China, Jinkai Cloud has established a stable market position under the trend of multi-cloud deployment, especially in the growth of industry demand. We will focus on video, video games, Internet and public services, finance, medical and other traditional industries in the future. Thank you and thank you all for joining our second quarter 2020 earnings call.