Yeahka Ltd

Ladies and gentlemen, good day and welcome to Yee Can Limited's 2024 Interim Results Announcement Call. At this time, all participants are in a listen-only mode. After management's prepared remarks, there will be a question and answer session. To ask a question, you will need to press star 1 and 1 on your telephone and wait for your name to be announced. To withdraw your question, please press star 1 and 1 again. Please be advised that today's conference is being recorded. I'll now pass the call to Mr. Vincent Chan, General Manager of Capital Markets for the company. Please go ahead, sir.

Thank you and hello, everyone. Welcome to ECAS 2024 Insurance Results Conference call. Before we start, we would like to remind you that this presentation includes forward-looking statements that involve a number of risks and uncertainties. Information on general market conditions come from a variety of sources outside of ECAS control. Please refer to our disclosure documents on our website's IR section for a detailed discussion of risk factors. Now, let me introduce the management team on today's call. Luke Liu, our founder, chairman, and CEO, will kick off with a short overview. I will then provide a business review. John Yao, our CFO, will conclude with a financial review translated by Derek Lai, our Director of Finance, before we open the floor for questions. Without further ado, I will now turn the call over to Luke.

Thank you, Vincent. Hello, everyone. Amid the microeconomic volatility in the first half of 2024, we remain steadfast to our long-term vision being an all-rounded commerce enablement services provider to merchants. We made more progress, increasing salaries beyond payments into other business lines, more international expansion, and wider application of AI. We believe this provides a higher quality of basis to seize more opportunities in the longer game and to deliver sustainable profits and value to our stakeholders. First, we advanced our one-stop payment services business model with wider regions covered in underserved markets. Further, diversified and resilient set of vertical penetrating more profitable customer segments served. and broader customer acquisition channels through deeper collaboration with strategic partners. We served more large and mid-sized merchants, leveraging the network and partnerships with over 100 banks as we scaled our product and region coverage. Our one-stop offering of payments, plus other commerce enablement services also give us a unique edge in digitizing for and certifying the various demand of large and mid-sized merchants. We therefore maintain our market leadership with a strength of foundation. Second, we up both our long payment services commercialization. and a share of revenue and profit contribution. This makes our service offering even more comprehensive and resilient than before and underscores our commitment to be the one-stop commerce enablement services provider for merchants. This long payment business also enhanced their profit margins year over year. We also significantly increase sales efficiency in our in-store e-commerce services with agile approaches feeding the micro trends in the industry. This is a visible pathway to run with the profitability in the second half and a sustainable growth in the year to come for this business. Third, we make Great Stripes oversees winning over 200 global brands, covering more than 20,000 stores. Our investment company, Fushi, offers proprietary and localized merchant solutions that satisfy demand from world-renowned customers. It is wiping out the latest products and vertical coverage. As many of you know, overseas markets have many pockets with attractive economics, and this paved the way for the very wide channels of profit to come. Fourth, we further integrated large-language models for both revenue-generating and cost-optimizing purposes. Our new products helped merchants ultimate price seeding to optimize monetization. We empowered them with precise marketing and automatic content generation tools to raise sales conversion. We also applied to our own customer servicing system. Therefore, our selling and Administrative expenses continue to decrease year over year by more than 10%. And last but not least, our ESG efforts were recognized internationally. For instance, in S&P Global's 2024 Sustainability Yearbook and ranked first in our industry in China. Our business uplifts underserved merchants and consumers in communities locally and abroad. In the first half of 2024, we increased the energy usage utilization rate by 7% through constructing green data centers and traded 12 million risky transactions with wider adoption of AI. we remain committed to based on payments beyond payments. Our proposition has always been to leverage our extensive payments platform to fully digitize merchants all around their commerce. Such full suite technology remains our age over others. In feeling more agile scaling up and now is increasingly about going global, as we play a more important role in global journey of digitization. On this note, may I pass to Vincent to give a detailed business review?