Qutoutiao Inc. ver: 2

Q1 2021 Earnings Conference Call

6/1/2021

spk_0: Hello Ladies
spk_1: and gentlemen, thank you for standing
spk_0: by for the first
spk_1: quarter 2021 earnings conference call for Utopia Incorporated At this time, All participants are in the
spk_0: listening mode
spk_1: After management's remarks, there will be a question and answer session. Today's call is being recorded.
spk_0: I will not
spk_1: turn to call over to your
spk_0: host cycle.
spk_1: Please go ahead psyche.
spk_0: Thank you very much. Welcome everyone. To the first quarter of 2021 earnings conference calls to Tokyo, inc. The company's financial and operational results were released by News Wire Services earlier today and has been made available online. You can also view the earnings press release by visiting the I. R. Section of our website at iRS dot utility dot net. Participants on today's Global include our Ceo Mr erIC 10 and our CFO mr Shalu. 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 involved 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 perspective and other public filings has 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 note that, you know the earnings press release and this conference call include discussions of unwanted dark financial measures as well as unlimited non GAAP financial measures. This press release contains a reconciliation of the unaudited non GAAP measures to the anointed Gap measures. And we'll start by reading out paris commentary on the business. Thank you and thanks everyone for joining today's conference call After a year of adjustment, which we initiated last year following meaningful changes in the operational environment triggered by COVID-19 as well as our thinking. In terms of how we can better position the business going forward. We started 2021 with a healthy and balanced portfolio of applications at various stages of development after several quarters of consistent effort and execution. The business overall is today on a much stronger financial footing to march forward. We will continue to operate our business more efficiently while stepping up our growth initiatives. A very important pillar of growth for us. Today is Middle Novel, which has been a pioneer and a leader of free online literature industry. Following the latest round of financing. As we have announced in a lack of earnings relief, we embark on a new face of significant investment into growing immediately franchise. Mhm We are now strategically collaborating with questions in many tv series or otherwise known as short drama series where we leverage our in house produced type to create short clips based on rich and engaging storylines. It's an experiment for the expansion of its value and away for more users to come to know Me too as a brand and appreciate the quality of work media has to offer china literature, has been leading the overall online literature industry for years and is reputed for creating and curating the highest quality literature works. We began to partner with them on the content side since Q4 last year to expand the diversity and the scope of quality works available to our users, given the high quality of china literatures works and the fact that many have been made available on a free online literature platform for the first time, users are enjoying more engaging reading experiences and as a result, we have observed especially using attention trend, We continue to nurture our in house editor teams to drive differentiated content adding where otherwise lacking. As part of our overall strategy to provide the most comprehensive and the richest of free online literature offerings. Remember last year we adjusted our product positioning by slashing loyalty points and parting ways with users who were essentially not content oriented. It caused the near term impact to our business. But we noted that underlying economics turned out to be much improved to be content lead or content driven has been the overarching shift for us. Media. Traditionally with little loyalty points has been at the forefront of this, tries and provided us with a strong engine to accelerate our overall transition. Having a more unified and clearer target user profile is also conducive to our user acquisition of strategy, which is handled by the shared middle office okay with better brand record.
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