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spk_0: the presentation there will be an opportunity to ask questions please note this event is being recorded an hour to turn the conference over to counts young head of corporate development and i are please go ahead
spk_1: take you operator
spk_2: our the one hand thank you for joining us today i'll second half and fiscal year twenty twenty one earnings release were distributed earlier today and is available on our website at i always thought they i am puppy you got a i
spk_1: as was on prd was news wire services
spk_2: on the call today from jeff with technology we have this the day the j cofounded chairman and chief executive officer and mr off the chair chief financial officer
spk_1: miss the day we'll talk about operations and company highlights followed by mr chen or discuss the financials and guidance they will be available to answer your questions during the cuban a session that follows before we begin i'd like to remind you that it's conference call contain for looking statements as defined in section twenty one the of the securities exchange act of nineteen thirty four and the us private securities litigation reform act of nights ninety five before looking statements are based on managed with current expectations and current market an operating conditions and related events that involve note on on this the not other factors all of which are difficult to predict a many of which are beyond on the companies control
spk_2: these refs may cause the company's actual results of the fallen to differ materially for information regarding these another risks uncertainties or factors including companies filings with the us as cc
spk_1: the company does not undertake any obligations update any forward looking statements as a result of new with the nation's true that's a lot alike except as you climb and applicable law
spk_2: finally please know that unless otherwise stated all figures mentioned during the conference call i am and it is now my pleasure to introduce all cofounder chairman and chief executive officer the sedated yeah
spk_1: david please go ahead
spk_3: you caught him hello everyone and and thank you for joining us today it has been a while since we have not spoken to the some of these under for those of you who are new to our stories of like to give a brief overview of all company am cool technology to the leading independent open platform with the discovery and the recommendation of the financial products in china you can net consumers it's a nice to the financial service providers the more convenient efficient and is said she always colliding consumers as the customized search results and little mutations tailored to each user's particular financial me and the profile who are proprietary technology we also provide financial institutions digital sales and marketing solutions to reach and assume the customers more effectively and efficiently i'm eating hands that contests you will are providing them with potato data management services and solutions as i depend minnesota party possible see differentiate ourselves as a game that other assets it might simply company these are highly scalable business models that allows us to be limbo and the know these fundamentalist we have we do not take on credit risks liquidity and or much risk our vision he had to be calm same on financial pond and then i'll walk through some kitty business the highlights and the take a lethal twenty twenty one before diving into the details the didn't settlements and the new strategy strategic institutes of the have undertaken and will then pass the cause asked us to discuss i measures yes of take away that of even like to highlight for twenty twenty one most and the perhaps the most important he that our business has
spk_4: groans
spk_3: he interviewed on you are with the revenue off thirty seven point four percent year over year i do we developed a more diversified and balance sydney's and eleven new structure you know that commendations seven you accounting for twenty eight percent of the next dragons leveraging our integrated the marketing sign their hands in the operating under technical capabilities we have improve our business efficiency we also expanded our business to other long financial categories third he continued to expand our efforts seeing empowering financial institutions digital transformation see now cooperate the to forty six which accounted for eighty percent of own and twenty car issue that in china sea neighboring issuing over twenty three meaning credit cards senior to me we also achieve significant a when you whole a big data and a system based loosely management services finally our cost optimization initiatives continue to provide effective sliding lodging improvement and the better cause the performing read into a narrowing of operating the last forty four percent these results were primary to them by allah experience navigating utopian our already needs to make changes and execute a whale in a dynamic love i did they ask you this kitchen of all only channel strategies undecided technological capabilities as part of a vision to because everyone's financial panic we are continuously innovating our had knowledge and exploring new drunk drivers as we push for our mission to the users and the enabling digital transformation some financial service providers to that it's nobody mother you go through our operations in twenty twenty one in greater detail i love the games is our limitations services you da paul one of level core digital transformation capabilities such a digital marketing throughout the years we have successfully expanded our traffic opposition channel to cover all i offline and across many mainstream media social media to a private private a trusted sources based on social and democratic and everything have a strong technical capabilities we have he creates a financial service providers oh tussle with a suite of a top slot and solutions allowing them to digits see the toady market is upon us through the as only channel strategy we're has also been victimized defy the media and other key traffic channel partners green more opportunities for us to move forward as a result of all of us isn't as it's our recommendation services citizens return to have rose is a you are simply one point four percent year over year and a twenty five or seven percent he cleans your it's worse is the first the have a twenty twenty one oh plenty cause it to monday's your business retained it's industry leading position as women tend strong relationships with forty six could cause seizures representing over eighty percent of thanks that issue credit cards online china as part of salva are many channels to outage our social media and a partnership program continue to did either close and the improve efficiency contributing sixty four point five other recommendations service and we have also successfully extended of the programs into other product go cause which we'll talk more later i will now moved to iowa enterprise or to be part of and solutions i eat data and the system based risk management services catering to financial institutions reducing demand for digital transformation he continued to us all enterprise seasons under developed or what part of signs of solutions to you hands to be management capabilities of financial ecosystem including financial service provider regulators and other ecosystem planners our three than solutions a lot to utilize them say i see saida to optimize risk of control models according to the change in marketing while many sign that consume money which is one of the key driving force of helping financial institutions were to authorities to achieve their digital transformation initiative a product and solutions are highly localized united on as your stations regulated an industry we received the national certifications seen that in addition obama was in data security i watch humans and digital transformation in the financial sector landed as the top ten synthetic innovation i wanted by that sandler magazine and outstanding father's side eating chinese financial institutions such as peanut bank credit consensus and everbright back into the into strategic partnership agreements with that top government backed securities zero so copulating on data credit scoring and with the management initiatives in addition recently supplied i'd use lead also financial records or technology such as services and products to provincial government signed the financial records the authorities helping them to assets monitor and a reacted to reddit to risk of financial institutions you've had your jurisdiction we believe these products and services could potentially be a big area of growth flaws in the future is to as card that said we're getting policies are supportive of the digital transformation of financial institutions now as of actually discuss our new growth engines cspan and to diversify about although revenue structure of the company has applied is on any channel digital marketing solutions social media the pups a should way in parties of us signed our recommendation capabilities to word the attitude toward adjacent a category and the sectors visit large state or each user base find a great financial news the result of such expansion seems to be very parties and revenue for as a new business sediments has more than doubled compared to twenty twenty coventry a for twelve point three percent of the total revenue we are now expanding these ads as a customer acquisition models together with allah predicate business partners to help financial institutions he wrote of other financial products and services the also adopting the social media the and upon a problem for the development eighty two alone financial sectors in twenty or twenty one the revenue contributed by social media under funded program account for forty six point six percent of a total revenue not eating out of all us neutral success of applying an omni channel strategy across the twin the financial on an old a financial categories we thought we have also sees development opportunities to apply i'll have to convince models and i'm not age too exciting oversee market we applied and it successfully of attend financial marketplace credit scoring i did he came as the licenses in indonesia said the largest the country into the other for the leisure you southeast asia going forward gentle they're continue to try it includes gruesome financial services overseas to benefit a more consumers and is is around the world finally we hadn't for advanced our cost reduction and efficiency optimization initiatives which include currently assessing it's he didn't slides consolidating and the cost cutting obama overlapping resources strategy has already seen some nisha without some these initiatives as non gaap net loss when for the narrow the by forty four percent a deal with yes the the also give a bit of a backlog of china's mockery caught a macroeconomic ah you almonds and of the ladies a records or dynamic the business environment moment of the operating with the so are lots of the policy change with the chinese government implementing new rules and edges assessing the consumer finance industry such as rick requesting or internet platform to issue a data security and the data protection for the you this year was using the on director transfer south florida information to financial institutions by in a classroom at the window guidelines issued to financial institutions for the lowering of interest rate on consumer finance us the letter which has prompted some financial institutions to adjusting their putting for forty one credit policy which has motivated to glows in consumer finance said products allowed you to buy the financial institutions in addition to was affecting the consumer finance industry the chinese government has also wrote out as a broader base the policy i didn't rules and regulations across multiple sectors son industries in particular has actually isn't conference so tightly ready to your mouth and in conjunction with strict a coby to control measures and elbow a natural witnesses have dampened a degenerate business segments to summarize twenty twenty one was a year was he made a continuous congress we have the a firm believer lit lives there is a challenge there are always opportunities despite the ongoing the editorial economic headwinds we have worked extremely hard throughout the year to navigating through the same enix he cited the ongoing pandemic and a little tough macroeconomic a mountain a lot businesses return to sell he can more diversified a more efficient and the we have said a strong foundation for further goals in twenty twenty two as for long term read remain positive about of the economic outlook in china i knew the recent death the turret trump like deal a mediocre contains sure messages supporting the development of the china's economy is specialty lead him to us creamy ideal nations it that concrete actions must be taken to bolster the economy in the first quarter including as is trading at well played a monetary policy to promoting promoting your loss for consumers as is visit it's me that to facilitate economic growth furthermore authorities will promote his is sadie and the healthy development of the pathway economy and employees international compared to an end a premier you closer to dress as the importance of we're introducing market any policies and any policy that has a significant impact on the capital markets to to be caught in a good it is a financial leverage the authorities he has to move and the market is as expectations you decent the government has more recently issued guidelines supporting consumers sign that as me credit laws cobia laid alongside the promoting in by the you'll see was products we believe that it's over arching scenes of these policies that is to provide a more sustainable economic growth and a healthier development of financial on the capital markets we are beginning to see a more supportive environment for the development of the consumer finance we are additional measures saudi introduced to drive private consumption through the potential loosening up the monetary policy and it's job mongrels giving up you could tell when so the industry and twenty twenty two there should also be a tremendous opportunities for financial institutions and a tech companies like us to work together and accelerate the financial sector six to transformation naturally the short term the resurgence of the only chrome barons in china he says he has posted some challenges to our businesses due to the large scale of dying in cities where the operating we have see partial and warlock sounds in cities such as since then challenges and of course more recently schultheiss where's the locked eyes the ongoing respect to attack and your first the has he and twenty twenty two are these were not stop us from pressing forward we were at activity explore new product innovation patients side services lila embrace regulations continue to deepen our people our corporation is license the financial institutions part as a digital transformation of financial service industry and a further your hands of waiting efficiency we remain hopeful that it once the lady some ways of the pandemic subsides our business will resume or moderate close to one small he that are not time the call that well as if civil such catch his
spk_5: i'll discuss our financial results sent you sync is a bit and hello everyone all the performance in the second half and four years and twenty one reflects our continuous efforts in business development and optimization as we continue to capitalize on the ongoing digital libation of the financial industry by the president michael environment and ongoing pandemic our business made the time iraq was sick and total rounded up six to a point seven percent year over year to arm the four hundred and sixty one point five million and the fiscal fiscal year twenty twenty one rounded up
spk_6: that it around twenty four percent to i am be a hundred and five minutes more important ally along with the resumption of go
spk_5: we are pleased to see a more diversified and a balance the rams structure fifty one percent contribution from our protocol recommendation service twenty one percent from longer commendations sixteen from big data system based the risk the services and twelve cents from our new business initiated which proves the scale ability and the resilience of our business model as well as our teams capability to navigate through and adapt to adapt to
spk_6: dynamic environments total recommendation seven grams increased by seventy one point four percent year over year to i am be three hundred and twenty point three million in the second half and forty two point two percent to i'm be five hundred and seventy five points to
spk_7: million for the full year twenty twenty twenty twenty one
spk_6: on the back off
spk_5: thirty eight point four percent and fifty two point six percent annual increase in credit card and along with mandating
spk_6: service rams respectively as we continue to refine our business model and of to strengthen our digital marketing efforts to acquire new customers
spk_5: romeo from this data in a system based arrests a risk management services decreased by ten point four percent to i'm be silly sixty seven point three million in the second half and nine point six percent to i'm be one hundred thirty point four million for the for years and is only one despite his unfavorable persia from the ongoing pandemic and privatizing in the past year i'll continue his efforts on technology developments product product innovation and a beta compliance have one thing that's true why the war and we believe such efforts will best benefit us in the long run running from out up to hiding and marketing services and other services increased by two hundred and forty point six percent to i'm be seventy three point nine million in the second half and the one hundred and sixty seven point two percent to arm be ninety nine point four minutes for the full year twenty twenty one primarily due to the goals of insurance brokerage service and successful category expansion of the social media and upon a program into non financial service areas as the
spk_6: the power lines in light of the business development we knew to added a line item mainly cause of promotion and acquisitions which mainly consists of the expenditures read into our marketing efforts and activities
spk_5: cause of promotion a position increased by seventy two point five percent young here to i am be three hundred and thirty four point nine million in the second half and forty eight point two percent increase to i the five hundred and sixty two point one million for the four year twenty twenty one
spk_6: which would be in line with the growth of our revenues from recommendations services advertising and marketing services and other services
spk_5: due to all continue the costs optimization measures post op operation decrease by eleven point four percent young year to i'll be forty five point one million in the second half of times isn't the one and four point two percent to arm be
spk_6: the eighty eighty eight million for the four year twenty twenty one also the cost optimizes efforts lead to the reduction of sales and marketing i'm be and the gym a expenses measured as percentage of total round to forty five percent in a in the heart of twenty twenty one compared of
spk_5: with seventy six percent in the pie appearance and a decrease of of percentage points for the for the us under twenty one in canada only one we divested the investment decentralized applications often solution provider
spk_6: and the realises investment game of i'm be up to one point two minutes as a result
spk_5: our know gap exists in my last continue to now sequentially decreasing by sixty five percent to i'm be ninety six point seven million from time be two hundred and fifteen point one minute in the second half of twenty twenties and the decreasing by forty four percent to i'm the one hundred and eighty six point seven minutes for the four years under twenty one
spk_6: as of december thirty first time he's under one women tend a strong balance sheets was cast as equivalents and shots some liquidity fine be seven hundred and sixty two point eight minutes
spk_0: with that i will conclude our prepared remarks will not open the call to questions operator fiscal hats you will now begin the question and answer session testing question you may press stars and one when you're touchstone some if you're using a speaker phone please pick up your handset before press and the keys to withdraw your question please post star and to at this time will pass momentarily to sampler roster again if you have a question please press star said one
spk_8: i first questions from brian leave from spike a capital please go ahead hey dave and a as far as i love to take my questions and i see that's another progress made on the first of all of us mentioned quite a bit arms digital marketing capabilities and and how it seems to be competitive advantage soapstone in the first of all jews more tolerant of what exactly are these competitive advantages are in terms of your divorce and capabilities and how are you using these to to drive or thousand to the financial institution customers on an unrelated these capabilities are you mentioned that you are are leveraging goes to expand to other categories categories are or growth engines on so how's that for you guys doing that and what are your future strategy games had of also on on that it and incessantly ah my question is related to to the costs optimization program and so i mean you guys have any specific targets you're trying to achieve worse for house and we be looking at your cost down the road and then for you know our how do you guys
spk_3: for see the costs and resources are be an allergy to between the ages you diseases and at the new growth injuries and initiatives sent you run out of his that the to the first question south cause our cancers the second country related to the cost optimization yes that are useless concerned about their digital marketing peter budaj the or too bad you provided a for an institution and also him to to to others and seconds so so and he has done as as as to a few questions are they are connected so many started it what we have said down in the last eighteen months as two years and i could learn and i started his imagination services so they could
spk_9: it is jim to be a whale position of the other leaders area also financial institutions that digital marketing transformation
spk_3: no we'd associates be considered to be set it's a lip service to continue to be most important that you like to be the contributions me i'm cindy pretending in twenty twenty one and the uses of the digital digital marketing services lol on quality cause disease which is the country's beautiful are lined up as he sees you want to send us of of other of have already as he combined it's only channels on the digital marketing capabilities these all these data sign that it's and age the risk management solutions
spk_10: it's in the past two years
spk_3: be had so as soon as it's initiatives how are you have any condition and gym you all take knowledge and also we have more sense to me to death for compliance with somebody and of the said say the security use a pen said privacy and until the had that develops constructed you can have issued id is that is with one of this leading government backed credit bureaus the we'll have also received an industry wide a war and of missions so all those initiatives the of the the helping our financial service providers including forty six now the largest the and own and putting a car insurance
spk_11: other license to financial institutions such as us
spk_3: thanks non bank finance companies consumer hundred companies and business under under disinterred companies say that better able to ah choir customer he these turbulent the market and adele's is able to managers at credits and the manager be scared better use these managing economic a moment so so either results are the have seen our our although well you you need economics or the our be efficiency the had him to death a yoga year and the also oh to that the only also the only channel to punish you program we had we had developed as
spk_12: the have seen a tremendous growth the has expanded that two two two two two two other other sectors such as you come on this side so basically be to be be extended our social media or punish programs are you into you to introduce huge huge huge huge huge
spk_3: like that you sectors including and other financial under no no financial categories so this new sector of of you so the grows intended to do our lives and one hundred sixty percent of couldn't have a quarter sign that the also o c o a total revenue to the bile a social media and publishing culpable and and the console about forty seven percent of our total revenue so much you then we believe that digital transformation of financial institutions the defender or use the financial sector and other known finish what sex is so always recommend that you the past two years as we had seen a huge payoff would put as much better compared competitive position are you neighbouring our financial system with providers and the you commerce and other providers to better serve their customers use this as a gross started challenging the bomb that is that you have to rise with little ones are you if yet an elephant over to our scouting
spk_13: okay
spk_5: ask us to this was the second part of question
spk_6: does show up at it
spk_5: as far as a go further questions for the us can cause a lot of the caught up automatism our firstly i want to you know size that the growing scales and efficiency games are played a more important the road and cause the optimization to our business and are leveraging
spk_14: our digital marketing capability which we see any with a improvements of the a while our recommendations or is advertising and the login service and other service
spk_15: those promoted or four percentage points for the full year and eleven
spk_5: he points in the second half the same time considering the uncertainties and the challenges are on the ongoing and damaged and the rebels or chance ah we have continued to execute thought the optimization initiative in the past two years
spk_6: that means we we are closely monitoring and a agents the resources are located adult among the same business or lines and a new initiatives and a consolidating overlapping resources to has operating efficiency and optimize circle structure ah does resolving
spk_5: that resulted in a reduction of operating expenses so they are operating expenses as a percentage ram hundred ninety one degrees the by today's percentage points compared with
spk_16: with the thing standing outside it's twenty
spk_6: that doesn't prove our our efforts in six cause a reduction and i had on optimization and the resources allocation a balance between
spk_5: putting the existing business lines and and you initiate it's other i want to emphasize of as the same time in a we continue to explore an investigation you been in jersey new business to find new both engine
spk_6: a significant part of our laws are attributable to the upon muslims in the new business
spk_17: so down the road we will continue to closely monitor and about all cause the structure and the resources allocation on a long as the girls recovery we expect our operating efficiency well for the pool
spk_16: the costs optimization measure adopted in the past two years and we also expect that will continuously benefits operations
spk_18: in in twenty two
spk_19: of that off of it offers offers your question right
spk_0: as a saucer
spk_20: okay thank you or next question comes from alex he from s please tell her
spk_21: i'm higher maintenance things on my concern
spk_22: yeah i guess i have some concern here
spk_20: number one on your icon and long dish and peninsula i dare say that the last hour journey cause some
spk_21: once in a friend's house but i'm wondering if you could them
spk_20: with us some more on turn on sense that you have seen on some of the one to my over the past year or so so that for the not time thousand on some difference between factors on one hand united my to date on consumption has remained
spk_23: i'm on the other hand has has the most to run tobacco industries trade to mean so many small to years may have some
spk_20: some ethic the market and then some the t as they are some they may say some kind of constraint on on console so
spk_21: have you says
spk_24: seemed fun demand from little too that's good because all dizzy doubt that us he stormed the demise of the summer people just find it hard to total
spk_20: elsewhere so yeah this the first one and secondly on whether they sent from such even day i'll going
spk_3: sensation on the county zero suit you know syntax and foam they're not allowed to have thoroughly transferred customer data to the thanks so i'm wondering hahaha instead of secular model and had a trend is you need to make you know that of the combined sex thank you alex and standard you have to come to to part of the crushing nelson been to take that as that is the most content ten content and pull up so the plus concern about the oh go along markets and the impacts about the kobe situation or knocked on strike so either you saw the data last year as he had grown c b b c be turned around to be managed gross i think it's it's it's it's it's it's a damn son and market to and it's sure consumers
spk_25: need to borrow need money made me as the he also needs needed acquitted easy to borrow so it's demanded chance not question question about it night on the other hand
spk_3: we to have fun or like you to adjust to the for this was a retail side of the didn't as it is that the banking business and that says it's consumer finance companies could cause issuers so did this and not nice concluded type of products are all even some of the syntax and commons and and we we're actually the at the whole your last year do you mouse i think that's sufficient liquidity all credit available pool full of have for it's funny concessions and it's bad but you do see some shift because of the last lockdown because of the call these a financial students to the sheets in their line of credit or declared it's debatable credit of saw all friend branch from traditional director sales channels to would online
spk_26: and so so that's why that's web say that since of kyle's the own and critics alike as as not as a soldier loans also the school for internet us anymore that could more that momentum flu or like recharge and i michael michael google and the idea that japan so that's getting interesting dilemma demanded strong
spk_3: of supply also as weakens my own eyes not be played still what doesn't does he do if he's there is a procedure like a mega you cause inflammation this images
spk_27: he fishes
spk_3: between the demand side and it's supply side i mean as as we know that wizards it's an agent susan is there just in the codey policies that tightening their creditors policy oh no idea of the has more more stringent that underwriting or forty touch more risk management l a criteria are there was a shooting their marketing mega channels so that's why our only channel strategy combined with alice john with imitation capabilities also combined of is our experience and expertise as a call waiting and risk management and a gladiator eyes also given like that text i'm also oh production tax a technology be our hosts need solutions really helps us
spk_28: that enables the financial chooses to to to to to accomplish goals
spk_3: and also increase the market inefficiencies i know what are you hiding their risk management the capability i just want to give one example how our our largest customers use a credit card a digital marketing the also recommendation business the has a we we we saw explains your gross all walks of revenue from the socratic up come try to back it's been so gross it's that says the increased of ram you know top five to two two two top number one in indian justice and twelve months and of the all are also does it does it's it's the qualified or recommendation or the new cards issued about this as and protocol banks ah we we are the largest stuff like that in addition so it's collider own and owner of his own out that big service providers that was just for this company so that's not nuts of reality such as so our coach this year it's coordinate bwlch is is a more more impact as also a locked us especially for dr like like
spk_29: and like like like like shanghai i'm so as a management schemes and varies very cautious into dogs was our allow allow our strategy oligos strategy we are be optimizing allah allah allah our marketing span of the also closely monitoring
spk_3: allah allah allah costs not or aspects i and then we'll also a to be closer is that financial institutions that intended for the i know the dynamics changed and acquisition on a marketing policies their credit credit risk management and policies and the strategies death to to for the optimize our i'm an eternity to the maxing capabilities without without the also is our reputation capabilities the lots and lots that since was the part of the question go ahead to do to touch be a to to listen to the said part i doubt i'll go and sit on how do you ask you about regulation and or specifically also mentioned about to have ah the the deuce transfer of data was a pretty deal with would have impacted to the industry to us in general so so last year we entered us as should gg that punishes added says is leading and credit bureau and as calendar that's a good viewing china's intoned god's law size pieces of risk management and data initiatives so we us so basically you're this credit bureau who does work directly the death financial institutions in kind of credit scoring date on other you should use and via a strategic partner providing sliding with analytical and a digital marketing services his visits and a bit dumb the banks credit bureaus the also or what can be the other below
spk_30: together as a adding that says it's what is have ah plus you teach the punish our our our goals or our a lot of other olive oil goes all these you know the since to to to become financial institutions times so that's why this said division i mean did did allow allow a vision and meeting
spk_3: yeah i really truly alive
spk_31: slb definitely you have seen as these as said it's part of the business has been i've seems stable and as the also like to see abuse or love the said fully transparent are more clear ready to evolve into or guide and not that makes us sending you to since
spk_3: mika palmer's like as also also makes make also was authorized as as as some facts could credit be allowed to to to grow the business
spk_32: forward
spk_33: so that's my my my son and schools where you alex
spk_34: the cause you you you are you have anything to add into the regulation in terms of this code is impact
spk_20: auditing say you're welcome
spk_0: has for the comments i guess okay
spk_35: center with you km thanks very much more complex
spk_36: and you at
spk_37: again it's easy questions please press star than one
spk_35: or next question comes from peter allow from bloomberg please go ahead of extension for
spk_38: introduction ah and dress scan for your ourselves else
spk_39: difficult question on
spk_38: it's gross margins
spk_35: every glad to see there's a site improvement in the course margins of saw us all to bring in insights to know are sharing wants to be drivers behind are marching in prisons
spk_37: sometimes it's coming from our loans or or condition law says share more on that sons are and second question is
spk_2: obviously we have hour
spk_37: and like it
spk_40: sorry for i mean obviously i think are imposed on to laugh odds are encountering this are mandatory have had been on swans know and stairs and impacts on the rates are france
spk_3: for example of these regulation size change
spk_41: advertising and and it's ads awards with that
spk_6: you know pulls any benefits or or it wasn't want you to general's ah fee which state are these loans
spk_42: our mission sense of officer well done
spk_43: sobs questions
spk_5: can peter it's of africa go ahead does says has deserve the as he says is emerging get some financials and hour as if it's needed okay yeah
spk_6: sit out the first class
spk_5: to discuss about the margins
spk_6: for second part i think of feel about the rather redditors something saw a lot of us first us
spk_5: so
spk_6: peter boyle will purchase yeah thank you know though was done the martin four months
spk_5: as as i said in in the last questions i think as it's the growing scale
spk_16: you can see our our top line have a close to forty percent of yoga well for the full year and more stronger growth for the second half of the
spk_5: sad isn't it was so
spk_44: so it's a good our of all businesses do you know if you have large scale
spk_6: you can have better
spk_5: battle you know about your is due to have enough data to bargaining power to discuss the the prize to negotiate the price and as terms with the punisher institutions so we're seeing that the prices increasing trend for credit card economists business but for the long recommendations and we'll see a declining pricing trend of that's mainly because you know the privatizing makes limited to the long products available our cattle and that at the same time or you know our when the weather scale world's weekend or you know what we achieved that the efficiency gains from the from our claw marketing capabilities melee from the omni channels mugging strategy the social media and upon a program
spk_6: that
spk_45: that part cause for enough
spk_6: almost more than fifty percent author of our topic sauce for the recommendation services
spk_5: and also leverage in that we entered into the new business
spk_3: the that that's island mocking services and are other sources so with that you know we're seeing and improvements if you divide the rams to buy the revenue by the hill of promotion and acquisitions we can see us see a higher margins owings is an efficiency gains that is focused and points for the full year and eleven since points in the second half so i hope that answers your questions about the about modern improvements
spk_46: deputies and so thanks a lot of the yeah peter and government go about your second part about as regulation but the see late
spk_3: and he's dead he's a ragged she said dynamic overall we had some had when we also had strong tell when and i mentioned earlier so do as obstruction sit ins and outs was murder of transfer of power data and also be has colby's related lockdown eight about the to tell been damaged note he added to the digital transformation of the oval financial sectors senate used to conduct actually as you can move up there
spk_47: unconditional marketing or risk management capabilities for on on channel of born on channel sign the also now we have black we have seen him
spk_3: and banks large larger know so you're leading such the santa clara the who don't bankroll or even a regional banks is a ruler commercial banks there have been really truly beefing up so they are known and decision in capabilities i am so so maybe ties our product is based on it in his out for a marketing quality i the risk corridor so it's so technically really say replace our our last a long as and eighty million credit card pool was based on a plane it is it's it's a it's john fox's soon according to be the poor i'm death charge of rate oh this great shape so banks are willing to pay more in his own school or if they the a high up for a flaws was is a lower application for the i'm the and a lower didn't concealing that's how we as as as as as i said dad the ai driven the data driven that ethical driven commendation platform we truly like optimize that said that the only channel acquisitions thanks to digital marketing capabilities visa visa visa is with the recommendation engine which be optimized souls approval does these these these this this this it's a pool a visit his risk management late and of course or lockdowns original sounds like lot of the origin of course on trouble was on national bank in the may have to temporarily suspended some of the egypt is he shanghai area for example rights as a we watch related to dynamically adjust our our our national so the rhythm and a sheet into or to cook little know what were regional base the optimization in june two shifting
spk_48: our water sage stone a different original different banks are different the bank products
spk_3: sign the also that and you can put it there
spk_35: policy added i'm offering policies under their budgets sense of how we are able to actually see the de dah dah dah dah dah dah dah debt crisis be obscene seat seeing better price anyway i just use credit cards
spk_27: no commendations t as examples of the residual had has a cool little a quarter or or you think is a getting people had a what specific a credit card issuer could called if we were able to last year the waiting to see our our our recommendations like a critical condition see her
spk_0: who are at usually able to see a medium to long term a gym trends so so that's why do these two summary though this ready to eat than i make us really has that saw him succeed in terms of our our pricing oh our see
spk_49: that's a take you need to economics it's more drew them by allah allah allah capability our candidate sen
spk_2: yeah insight sir adopting the markets a change i know so our our relationships are strong punishing these our with any hints to send and also oh allah allow allow customers insights of flower flower lab consumers and as any customs and such take advantage of extension thank you peter
spk_50: there are no more questions in the queue just concludes or question and answer sessions are like to turn the conference back over to cons young for any closing remarks
spk_51: that's right
spk_0: thank you for every one for joining the paul today
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