Cloopen Group Holding Limited

Ladies and gentlemen, thank you for standing by and welcome to Glupin's second quarter 2021 earnings conference call. At this time, all participants are in a listen-only mode. After prepared remarks by the management team, there will be a question and answer session. Today's conference call is being recorded. If you have any objections, you may disconnect at this time. I would now like to turn the call over to your host today, Yilin Dai, CluPen's investor relations representative. Please go ahead.

Hello, everyone, and thank you for joining CluPen's second quarter 2021 earnings conference call. The company's financial and operating results were issued in a press release via Newswire Services earlier today and are posted online. You can download the earnings press release and sign up for our distribution list by visiting our IR website. Participants on today's call will be Mr. Chang Xun Sun, our founder and chief executive officer, and Mr. Stephen Lee, chief financial officer. Management will begin with prepared remarks, and the call will conclude with a Q&A session. Before I hand it over to the management, I would like to remind you of Crouppen State's Harvard Statement in relation to today's call. Except for the historical information contained herein, certain matters discussed in this conference call are forward-looking statements. These statements are based on current trends, estimates, and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. For more information about the potential risks and uncertainties, please refer to the company's file list with the Securities and Exchange Commission. With that, I'm now very pleased to turn the call over to our CEO, Changxun Sun. Please go ahead.

Hello, everyone. Thank you for your time, investors. Thank you for participating in Rong Nian's second quarter performance announcement conference. We are very happy to see that in the second quarter of 2021, Rong Nian showed a strong potential for business growth. The revenue reached RMB27.4 billion, which is 47.9% of the total growth, which is once again exceeding expectations. Our second quarter's net profit is still at 43%. More importantly, Langev's net loss has been reduced to 2636 million yuan. Langev's net loss has been greatly reduced to 58.4% in the previous quarter. Our second quarter's net profit flow Hello everyone, and thank you for joining Groupon's second quarter earnings call today.