spk_0: it may get offended by a welcome to the you a digital first quarter twenty twenty one earnings comfortable at this time or participants are no it's not a night after the speakers presentation they'll be a question and answer session ask questions during the session you would eat the press star one please be advised that safe coffers is being recorded oh now they had the competent the first big for they the vicinity you think you please go ahead
spk_1: thank you i love them to and else first quarter twenty twenty one ernie hudson faith coffee truth presentation by the founder and chairman and see a cranky and i feel or as a as made up as yes all minutes on may have been affected up income or director or but it's much nicer
spk_2: the fuck up yet
spk_1: we will i might be payments made under the safe harbor provisions that the u s private securities litigation act of ninety nine five such statements such as the best thirties and factors that can cause actual results to differ materially from don't contain in any such thing as for and make recording protests over as answer is the factory is included in an be falling with the us securities and exchange commission the company that's not undertake any obligation update any for misstatements as a quiet and are applicable law called the car we will the for we will be referring to several non gaap when as alleged rape and papelbon for measures to review and us are offering performance these non gaap an echo measures are not intended to be consider an isolation or as a substitute for fun as well as a mission prepared and put them to an acquaintance with us gap as a mission about these non gaap measured that reconciliation stick it measures please refer to her earnings press release how not name for opening remarks
spk_3: thank you all for joining us today wait the completion of our business restructuring and been out of our legacy business we have completed our transition to become a leave you use or from trick digital personal financial management platform we believe our assad a quarter to starboard year resume in high quality road and return to our normal profitability imagine level as we continue to focus our our strategic position and the business go well constantly building and a strengthening our t comparable ages along the way firstly we have accumulated a considerable user base with over five point three million borrowers and the two point four million investors who we are reactivate you at the same time we also continuing to acquire new customers in our
spk_4: serve the settlements fill our establish the now works at a partner channels
spk_3: certainly well be making effort in peckham all of allergy innovation and the building our our data intact driven i think if those coupled with a i have the option and cloud computing to better serve our users and your hands are operation efficiency thirdly were in reaching out of boredom in our product portfolio in both credit and the wealth management to forge of goes back to bachelor of financial products and services so go all the moves were aiming to forty hour drive our a financial mean in every stage of their lives
spk_4: serving them through both online and offline channels
spk_3: with product and services ranging from credit to him by month and insurance to help them better spent by her him back and the be better protected this is how will have received it and the we believe we're on the right try to continue to expand our business map now i will provide the business update our wealth management side and then i'll probably to over over to made to give an update our credit business our well management business continues to see if they will grow client assets boy a matte no prior reach the arm be ten point seven billion i thought march thirty first plenty when while representing an increase of twenty five percent
spk_5: quarter over quarter
spk_3: total number of active you masters stood at three hundred seventy came as of march thirty first two hundred twenty one representing an increase of thirty two percent from last quarter meanwhile the number of newly registered users coming from your wow referral program in the fourth quarter this year by twenty two percent from corner indicating increasing trust and loyalty from existing your masters in our bread and butter patient in addition will make him meaningful achievements in increasing our in backers out t v in the fourth quarter of twenty twenty one the number of the a masters who how more than two other bodies aren't you know well groomed by six hundred thirty percent from florida and be as his client asset price investor increase the by sixty five percent quarter over quarter to of be eighty five k last onto our insurance business cause i am sure brokers the growth momentum remain stall we expected our poor not corporeal into life insurance is quarter to forty pop into our customers insurance mean as long as the rule out
spk_6: out of the new strategic platform it do you wish leveraging all our ensure entire capabilities we parked there with traffic channels to provide scenario ways that they have driven product the bomb
spk_3: didn't denies the policy of the move friesian and the distribution services using our partnership with a ski and snowboard platform as an example there was a house users plan their next ski trip book lessons purchase the equipment and now sees a deer you are around two hundred fifty k we work with our insurance partner to train the a person no accident insurance plan specific only was or related incidents and a digitize their entire process from caught them onboard him to end the writing and place management helping them realize an entirely new revenue stream will will continue to open our platform to an increasing number of channel partners to serve different cars
spk_4: thomsen scenarios
spk_3: last but not the our digital stock brokerage platform is that belongs in the second quarter which will offer also a stock brokerage and financial services to repeal he left us
spk_4: green additional synergies to our wealth management business
spk_3: we know that an ongoing try and of household as in china increasingly being shifted from that father's to money market funds and equity assets including stop and future
spk_6: giving their more attractive you
spk_3: in addition global capital markets are experiencing a sizable back oh shit as treaty lot of that if you of in twenty twenty one with increasingly strong participation from rico you masters this retail a bad thing phenomena has taken off and i'm sorry you and our new initiative will allow us to see the benefit from this market tribe leverage incline resources and partnerships with credit eve ecosystem as laws are a professional environment capabilities the platform will part in both mass at work and time our customers settlements and offer value added services including exclusive one on one consulting and financial information services now i will turn the call over to man who will fall he opted for our quite a business the corner
spk_7: thanks name and how the other one hour now provide enough day on are credible no way continue to see solid business glows in the first quarter of the twenty twenty one following the three consecutive quarters of the growth in the low volume helping lead to garda eight years strong at the end of the first quarter year and craggy the registered users richard at ninety five point eight million in treating eight percent year on year total number of the bars served in the third quarter richard close to choose their hundred and sixty thousand and in three felt that eighty three percent quarter over quarter in the first the clutter eden prairie platform for seventeen i'm v four point nine billion in on anger that low facilities in model and increase up and seventeen percent quarter over quarter and five or five hundred and fifty five per a year on year we are now it sounded to keep strategically initiative which apple what name mentioned earlier on our position he could be a leading users than she could digital personal financial management platform to me it out fucked around that rest of the a diverse as thin as your knees are offering the comprehensive weed out the financial services first philly we have been fabricated by an injury she now products by consider them broadening our channel partners and now we are hovering a growing numbers of consumption in the hours in forging traveling shopping social networking and to pay and education with and make the product offering from the secure an unsecure along with the very the ticket buyers and ten are offering through a both online and offline channels we have established of food private proud matrix to need our customers and very surprising needs also apart from to see channels we have also families to partnership with to be companies such as third party payments south platforms and and financial management platform with how those with father drive that are scale so far we are working with more than thirty channel partners and we are continue to spend more after know cooperation secondly we started to work with our first down the insurance brokers last year or two offered wise and the properties sure the products and services to our brought a club borrowed to better protect them and their families there both are online platform and off one national and now work out the more than two hundred doors and insurance has now become a new driver of the our private boneless average premium for policy still visible grows by two hundred and seventy percent from august since friday twenty two april twenty twenty nine driven by increasing profile and outside wow strategy so you can see that by integrating different the line we have viewed as the fifth again injured complimentary ecosystem our financial services on operational found we continue to achieve the coffee efficiency and improve our primal you need economic for example wifi father decline in the customer acquisition cost as the we brought in our products and services the offering thereby increasing the for centuries of about volume and generated by wiki borrows by up to four percent from for your quarters lastly of brief good performance we have been stable and eve in improving crowded for four months as off the mark to the thirty thirty first at twenty twenty one the delinquency rates for a long dark a new guy that path to do for fifteen two
spk_8: he lied days
spk_7: his to fifty nine days and sixty to eighty nine they were point five point five percent or zero point eight percent and zero point six percent respectively recovery in line to our he's got a huge article lower level in terms of the risk of ninety two men we have to improve the collection read girl more refined as with management policy in naval enough to satellites are the delinquency rates at the healthy level as the results were expand our strong clarity that performance to continue throughout the year wait that we would now profit to our free i phone now pool will provide a financial advisor
spk_9: ah thank you may hello l one for financial up the other focus donkey i know our business operation under the financial performance only you can we flown to the detail financially dogs in our early release and our desk that has been posted on all like that for stop off rating highlights far wealth management business as of march thirty four to twenty twenty one will have something more than two point four beating you want some and the the total number of active activity that us towards the now you're welcome upon us go to three hundred and seven thousand one hundred and asylum
spk_7: increase to security true person the partner or called him clam as icing all your one on products and clean twenty five percent called her own called her pulling in the pan point fell beating and so march twenty fourth twenty twenty one on the you find long on can these nation for the called her was using the four point night beating
spk_9: representing an increase of seventeen percent called her own called him caught your wife it's all his talk or slowing the called her guilt for ten a holiday on the week and warning for father were out in the following called her of our financial in the fourth the called her total wrong you increase the same i'm from side you're on your food in the one point one beating of make something for person to king for our wealth management business your to the let ready to read hop in our an informed business revenue generating far was young insurance for current is now show and each one park authority now cow would have also and in annual financial so islam ula item wish we were praying to run your far out and financial nice hotel a decreased by some for a you're on your twenties they were pumped ate meat beating standing on the mouthpiece past sequence of fucking four percent from flower your wouldn't be four hundred and five pointed to a meeting million joined by increased operational efficiency our original and so it's is has increased asylum for thank you from wherever your dream be one hundred and seventy four point five been made deal to increase income use a fan page with south park kennel as a result of facilities tend to issue and the primary along for punk the iss receivables and other was in a while hundred and forty one point two beatings it carter equivalent to two point nine percent of no warning or as comply with their candidate for fun last quarter that called her away or just dump last write a song chantilly actual clutch and wait we can all a large to ride bike is close the the right by for long from blades of luck called her was three point three percent the wraith ensure one tend to tend to one was bad her comprise last called her man in powerful the called her and christ eight hundred and forty three profound the phone while we're here to them in be one hundred and eighty one point two meeting on the fantasy is that all cat for beijing and strong was indeed for upon a feeling of college and assault was your phone and so much for the first twenty twenty one ostrom strong fantasy of leisure as well in the karma operating environment and allow us to compete or to imply new nation chief and tied into new opportunity finally on business or look for the full yard twenty twenty one all forecast on winning and a rate of and be twenty to thirty meeting for the told ah he once and for that and than be twenty to twenty five beating for the total non facility this will cause with friends all car and appalling the or reveal of the marketing and operating of confusion we just tried to change it concludes our growth and mark
spk_10: operator while waiting for cram a
spk_0: thank you know begin with was decision if you wish to answer questions please for star one and weakening if you wish you were responsible nasty once again and stolen think once again if you wish to ask the question install one once again in stolen is know with with wasn't at this time next today's business
spk_1: we go
spk_0: but you have room for the call for davis concludes our are called for a quarter you
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