Cango Inc.

Good morning and good evening, everyone. Welcome to Kengo Incorporated's second quarter 2022 earnings conference call. At this time, all participants are in a listen-only mode. This call is also being broadcast live on the company's IR website. Joining us today are Mr. Jiayuan Lin, Chief Executive Officer, and Mr. Michael Zong, Chief Financial Officer of the company. Following management's prepared remarks, we will conduct the Q&A session. Before we begin, I refer you to the safe harbor statement in the company's earnings release, which also applies to the conference call today, as management will make forward-looking statements. With that said, I am now turning the call over to Mr. Zhaiyuan Lin, CEO of Kango. Please go ahead, sir. 大家好,欢迎参加唱国2022年第二季度财报电话会。

Hello everyone and welcome to Cango's second quarter 2022 earnings call. During the second quarter, especially in May and April, lockdowns in Shanghai and other cities exacerbated supply chain challenges. Despite a series of favorable policies since June, demanding the automotive market has remained sluggish due to COVID's substantial impact on automotive manufacturing, logistics, and retail sales, as well as heightened risk aversion and weakened consumer confidence amidst the pandemic. Placing these headwinds, we achieved the total revenues of RMB 289 million in the second quarter, of which revenues from our car trading transactions business accounted for 219 million, or over 75.6% of our total revenues. Revenues from our traditional business lines, including automotive financing facilitation and aftermarket services facilitation, totaled 25.14 million RMB in terms of revenue mix Our business model of car trading transaction platform with multiple monetization avenues is becoming more and more robust.

下面我将从车交易平台业务和传统业务两个维度与各位分享二季度主要的业务进展。 Next, I would like to share the progress of both our trading platform business and traditional business lines in the second quarter.