TAL Education Group

Ladies and gentlemen, good day and thank you for standing by. Welcome to Tele-education Group's second quarter of fiscal year 2024 earnings conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a Q&A session. Please be informed 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. Thank you all for joining us today for TAO Education Group's second quarter fiscal year 2024 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 Peng, President and Chief Financial Officer, and myself, investor relations director. Following the prepared remarks, Mr. Poling 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 U.S. 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 our 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 discussions of certain non-GAAP financial measures. Please do 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 go ahead.

Thank you, Jackson. I'd also like to thank all of you for participating in today's conference call. During this call, we'll review the financial performance and business progress of the second quarter of the fiscal year 2024. After that, I'll share some thoughts on the outlook for the next quarter. During this quarter, we continue to operate and manage our core business lines while exploring new initiatives and seizing new opportunities. With respect to our learning services and others business, we further optimized our online and offline offerings for varied user preferences and expanded our learning center network at a measured pace. As for the content solutions business, our learning devices launched near the end of the last fiscal year, maintained their growth momentum and delivered solid user engagement performance. In addition to our core business, our innovative endeavors have made progress in this fiscal quarter. We have rolled out the beta version of MathGPT, and we intend to continuously improve the model's efficiency, guided by the feedback we receive from selected users to whom we provided test invitations of this experimental version in terms of our financial performance we recorded net revenues of 411.9 million us dollars and 2 billion 965.9 million rmb for the quarter representing an increase of 40.1 percent and 49.5% year-over-year in U.S. dollar and RMB terms, respectively. With respect to profitability, our non-GAAP income from operations and non-GAAP net income attributable to TAL for the quarter were 52.7 million U.S. dollars and 58.8 million U.S. dollars, respectively. So with that overview, I'd like to hand the call over to Jackson to give you an update on our core business lines, operational developments, and review our second quarter financial results. After that, I'll return to share more details regarding our outlook for the next quarter. And then I'm really looking forward to opening the call for questions. Jackson, please go ahead.