TAL Education Group

Good day and thank you for standing by. Welcome to TAL Education Group second quarter 2023 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a Q&A session. Please be informed that today's conference is being recorded. I would now like to hand the conference over to Mr. Jackson Ding, Investor Relations Director. Thank you. Please go ahead, sir. Thank you, operator.

Ladies and gentlemen, thank you all for joining us today for TAO Education Group's first quarter fiscal year 2023 earnings conference call. The earnings release was distributed earlier today, and you may find a copy on the company's IR website or through the news wires. During this call, you will hear from Mr. Alex Pung, President and Chief Financial Officer of TAO, and myself, Investor Relations Director. Following the prepared remarks, Alex and I will be available to answer your questions. Before we continue, please note that today's discussion will contain forward-looking statements made under the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations. Potential risks and uncertainties include but are not limited to those outlined in public findings with the SEC. For more information about these risks and uncertainties, please refer to our findings with the SEC. Also, our earnings release and this call include discussion of certain non-GAAP financial measures. Please refer to our earnings release, which contains a reconciliation of the non-GAAP measures to the most directly comparable GAAP measures. I would like to now turn the call over to Mr. Alex Peng. Alex, please. Thank you, Jackson.

Thank you all for joining us on today's call. I would like to again take this opportunity to express my gratitude for your continued attention to and support for TAO's transformation journey. This quarter, we continue to execute our development strategy as we proceed on our new journey and have made meaningful progress. Let's first start with the numbers. We recorded 294.1 million US dollars in revenue for the quarter. As a result of our top line expansion, for the fiscal quarter ended on August 31st, 2022, we recorded 42.3 million US dollars and 26.6 million US dollars in non-GAAP operating income and non-GAAP net income attributable to TAL respectively. This quarter, we updated our mission statement from love and technology make education better to empower lifelong growth with love and technology. This update of our mission statement reflects our continued commitment toward caring for our customers and toward technological innovations. It also reflects our exploration of new initiatives in and beyond the learning solutions market. We believe this new mission inherits our traditions while setting the path for our future development. We've been empowering our users' lifelong growth through providing learning services, learning content solutions, and learning technology solutions since inception. And we'll continue to empower their lifelong growth through learning and beyond. Now I will pass the floor to Jackson to share more color on our operational developments and the financial performance of each of our core business lines. Afterwards, I will update you on our business strategy, and then we'll open the floor for questions. Jackson, please go ahead.