Secoo Holding Limited

Hello, ladies and gentlemen. Thank you for standing by for SECU Holdings Limited's Third Quarter 2020 Earnings Conference Call. At this time, all participants are in the 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. Jingle Ma, Board Secretary of the company. Please go ahead, Jingle. Hello.

Hello, everyone, and welcome to the first quarter 2020 Earnings Conference Call of School Holding Limited. The company's results were issued with their services earlier today and have been posted online. You can download the earnings press release and sign up to the company's email alerts by visiting the IR section of our website at ir.school.com. Mr. Richard Lee, our founder, chairman, and chief executive officer, and Mr. Xiaojun Chen, our chief banisher officer, will start the call with their prepared remarks, followed by a question and answer session. Before we continue, please note that today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S. Privileges Curator's Litigation Reform Act of 1995. Forward-looking data 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 registration statement I'm from and from as well as the and the Exchange Commission. The company does not assume any obligation to update any forward-looking statement except as required under applicable law. Please also note that schools' earnings press release and this conference call include discussions of audited gap financial information as well as audited non-gap financial matters. School's early schedule contains a reconciliation of the audited non-GAAP merits to the audited most directly comparable GAAP merits. I will now turn the call over to our Chairman and the CEO, Mr. Richard Li. Please go ahead.

Hello, everyone, and thank you for joining us today. We are very happy that the third quarter of 2020 seems to have maintained a steady growth. The GMA has increased by 12.5 to 41.2 billion yuan, which is superior to the leading technology and global supply chain layout such as cloud services. We are in the post-pandemic era, and online shopping is gradually increasing in scale and penetration rate. On the one hand, it helps more high-end domestic and foreign brands accelerate their rapid transformation. On the other hand, it provides a rich and reliable online shopping experience for Chinese consumers who are increasingly seeking high-end consumption and distribution methods, especially as we strengthen the strategy of key brand precision operation. Not only does it strengthen the smartness of Siku in the field of head design and e-commerce, but it also further enhances the standard price of Siku platforms.