Tarena International, Inc.

Ladies and gentlemen, thank you for standing by and welcome to the second quarter of 2022 Terrainers International INC Earnings Conference Call. At this time, all participants are in listen-only mode. After speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to slowly press star 1 and then 1 on your telephone. You will then hear an automated message advising that your hand is raised. IMS Advice Sheet at Conference is being recorded today, August 16, 2022. I would now like to hand over to your first speaker today, Ms. Sylvia Yang, the Investor Relationship Manager. Thank you. Please go ahead.

Thank you, operator. Hello, everyone, and welcome to Tarina's Earnings Conference Call for the second quarter of 2022. The company's earnings results were released earlier today and are available on our IR website. ir.edu.cm, as well as our newswire services. Today, you will hear from Ms. Nancy Yingsun, our CEO, and Ms. Ping Wei, our CFO, who will take you through the company's operational and financial results for the second quarter of 2022, and give revenue guidance for the third quarter of 2022. After their prepared remarks, Nancy and Ms. Wei will be available to answer your questions. Before we continue, Please note that the discussion today will contain certain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations. TERENA does not assume any obligation to update any forward-looking statements except as required under applicable law. Also, please note that some of the information to be discussed includes non-GAAP financial measures as defined in Regulation G. The U.S. GAAP financial measures and the information reconciling these non-GAAP financial measures to Tarina's financial results prepared in accordance with U.S. GAAP are included in Tarina's earnings release, which has been posted on the company's IR website at ir.edu.cn. As a reminder, this conference call is being recorded. In addition, a webcast of this conference call is available on Tarina's Investor Relations website. I will now turn the call over to Ms. Nancy Ying Sun, the CEO of Tarina.

Thank you, Sylvia, and thanks, everyone, for joining us today. In this regard, I am happy to announce that in the second quarter of 2022, our two businesses will continue to maintain a positive growth on a healthy operating trajectory. The company's business continues to profit, with a profit rate of 7.4%. Compared to the same period last year, the loss was a profit. It is also our second consecutive quarter to achieve a net profit. The overall profit rate of the group reached 58.0%. I am pleased to announce that in the second quarter of 2022, both of our businesses continue