Aurora Mobile Ltd (JG) 2024 Q3 法說會逐字稿

Ladies and gentlemen, thank you for standing by and welcome to the Aurora Mobile third quarter, 2024 earnings conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session instructions will be given at that time. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your host today. Kristen Arnell. Thank you. Please go ahead, sir.

女士們、先生們，感謝你們的支持並歡迎參加 Aurora Mobile 2024 年第三季財報電話會議。此時，所有參與者都處於只聽模式。演講者演講結束後，將進行問答環節，屆時將給予說明。請注意，今天的會議正在錄製中。我現在想把今天的會議交給東道主。克里斯汀·阿內爾.謝謝。請繼續，先生。

Thank you Michelle. Hello everyone and thank you for joining us today. Aurora Mobile's earnings release was distributed earlier today and is available on the IR website at ir.gwn.cn on the call. Today are Mr Wei Don Luo, Chairman and Chief Executive Officer, Mr Shannon Bong, Chief Financial Officer and Mr Guang JPY Chen General Manager.

謝謝米歇爾。大家好，感謝您今天加入我們。Aurora Mobile 的財報已於今天稍早發布，並可在電話會議上透過 IR 網站 ir.gwn.cn 取得。今天的嘉賓包括董事長兼執行長羅偉東先生、財務長奉香農先生和總經理陳廣日先生。

Following their prepared remarks. They will be available to answer your questions during the Q&A session that follows before we begin. I'd like to remind you that this conference call contains forward-looking statements within the meeting of section 21 E of the Security Exchange Act of 1934 as amended and as defined in the US private securities litigation reform Act of 1995. These forward-looking statements are based upon management's current expectations and current market and operating conditions which are difficult to predict and may cause the company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties and factors are included in the company's filings with the US SEC.

以下是他們準備好的發言。他們將在我們開始之前的問答環節回答您的問題。我想提醒您，本次電話會議包含根據 1934 年《證券交易法》第 21 E 條（經修訂並按 1995 年美國私人證券訴訟改革法定義）的會議中的前瞻性陳述。這些前瞻性陳述是基於管理階層目前的預期以及目前的市場和經營狀況，這些預期難以預測，可能導致公司的實際結果、績效或成就與前瞻性陳述中的結果有重大差異。有關這些和其他風險、不確定性和因素的更多資​​訊包含在該公司向美國證券交易委員會提交的文件中。

The company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law. With that. I'd now like to turn the conference over conference over to Mr Luo. Please go ahead.

除適用法律要求外，本公司不承擔因新資訊、未來事件或其他原因而更新任何前瞻性聲明的義務。就這樣。現在我想將會議轉交給羅先生。請繼續。

Thanks Arnell. Greeting to all. Welcome to our mobiles 2024 for quarter earning call.

謝謝阿內爾。向大家問好。歡迎來到我們的手機 2024 年季度財報電話會議。

Before I comment on our Q3 results, I would like to remind everyone that the quarterly earnings that is available on our website. You may refer to the debt as we proceed with the call today as we did in the past based on the Q3 numbers, the appropriate description I would use for the first quarter result is record breaking for the following reasons.

在評論我們第三季的業績之前，我想提醒大家，我們網站上提供了季度收益。您可以在我們今天進行電話會議時參考債務，就像我們過去根據第三季度的數據所做的那樣，我對第一季結果使用的適當描述是破紀錄的，原因如下。

Firstly, we are writing our own history. We are on the road in this quarter. We record the fifth consecutive quarterly festival adjust EBITA.

首先，我們正在書寫自己的歷史。本季我們正在路上。我們錄得連續第五個季度節日調整 EBITA。

Secondly, developer subscription revenue record both 7% growth quarter after quarter and 11% growth year over year. More importantly, the quarterly revenue has maybe 50 million for the first time. In history. Yet another record breaking event in this quarter.

其次，開發者訂閱收入季增 7%，年增 11%。更重要的是，季度營收首度突破5,000萬。歷史上。本季又一項破紀錄的事件。

Furtherly, our engagement continue to shine in terms of customer numbers and cumulative contract value where they grew 42% and 23% quarter over quarter respectively.

此外，我們的參與度在客戶數量和累積合約價值方面持續表現出色，分別比上一季成長 42% 和 23%。

Firstly, the record net operating cash inflow of RMB to 12.3 million being the highest level in the past 16 quarters. Bringing the cash balance of RMB101 million as of 930 , 2024.

首先，經營現金流淨流入創歷史新高，達人民幣1,230萬元，為過去16季以來的最高水準。截至2024年930年，現金餘額為人民幣1.01億元。

These are the snapshots of the great numbers we have achieved in this quarter. Now let me expand further.

這些是我們在本季度取得的巨大成就的快照。現在讓我進一步展開。

Our total group revenue has grown 7% year over year. Fueled by the strong numbers from developer services within the group revenue, developer subscription service and financial risk management record 11% and 29% year over year revenue growth respectively.

我們的集團總收入年增 7%。在集團收入中開發者服務強勁數據的推動下，開發者訂閱服務和財務風險管理收入較去年同期分別成長 11% 和 29%。

Developer services revenue which consisted of subscription services and value added services increased by 12% year over year and 2% quarter of quarter. Subscription revenue has been recording great numbers where it increased by 11% year over year and 7% quarter of quarter. Value added services revenue grew by 20% a year every year but decreased 30% quarter of quarter.

開發者服務收入（包括訂閱服務和增值服務）較去年同期成長 12%，較上季成長 2%。訂閱收入一直錄得巨大數字，年增 11%，季增 7%。加值服務收入每年增長 20%，但環比下降 30%。

Our subscription services revenue of RMB51.7 million grew strongly by 11% year over year and 7% quarter of quarter the year over year and quarter of quarter revenue growth was management by increasing AU as I mentioned earlier. We brought our own quarterly revenue record in this quarter where we had for the first time in history.

我們的訂閱服務收入為人民幣 5,170 萬元，年比強勁增長 11%，環比增長 7%，正如我之前提到的，環比收入增長是透過增加 AU 來管理的。我們在本季創下了自己的季度收入記錄，這是我們歷史上第一次。

Subscription revenue is RMB 50 million in a single quarter. This is a remarkable achievement. I would like, I would like to take a moment to thank all our customers in trust in our products and services and our G one team for working hard and deliver great service to our customers.

單季訂閱收入5000萬元。這是一項了不起的成就。我想，我想花一點時間感謝所有信任我們的產品和服務的客戶，以及我們的 G one 團隊的努力工作，為我們的客戶提供優質的服務。

Another major contributor of this impressive revenue growth was the solid performance of our engage business. The engaged lab business has contributed strong revenue growth in this quarter on a year over year basis. The recognized revenue for engage that has grown close to 100%. I shall share more on that basis shortly within subscription revenue. Some of the notable new and renewable customers in this quarter include but not limited to wass largest every company for their Chinese operations and B ID and Shenu Express, Kimm Moon Shot and Guana credit card. Just to name a few value added services revenue will RMB5.8 million decreased by 30% quarter of quarter by increase by 20% year. Over year. The sequential decrease was due to the new online shopping festival in Q2 but was nonexistent in Q3. This revenue trend in Q3 was within our expectations.

這一令人印象深刻的收入成長的另一個主要貢獻者是我們互動業務的穩健表現。參與的實驗室業務為本季度貢獻了強勁的收入同比增長。已確認的互動收入成長接近 100%。我很快就會在訂閱收入的基礎上分享更多內容。本季一些著名的新客戶和可再生客戶包括但不限於 wass Largest every company 的中國業務以及 B ID 和 Shenu Express、Kimm Moon Shot 和Guana 信用卡。舉幾例，增值服務收入將為人民幣 580 萬元，季減 30%，較去年同期成長 20%。過了一年。環比下降是由於第二季新的線上購物節所致，但第三季沒有出現這種情況。第三季的營收趨勢在我們的預期之內。

Next is the most exciting part of the business in terms of its growth and future perspective, allow me to spend the next few minutes on our engage business this quarter. Firstly, we continue to acquire more overseas customers in Q3. Then the contracted customer numbers has reached 500 13. We're spending representing a 32% sequential growth. Secondly, the cumulative sign contract value of engagement has grown by RMB6 million quarter of quarter as of December as of September 30 2024 the total sign contract values to add approximately RMB48 million. We are truly pleased with this result. Furtherly, we expand our global reach to additional countries in this quarter. By September 30 2024 our engagement products and services were sold to customers in more than 31 different countries and regions globally.

接下來是業務中最令人興奮的部分，就其成長和未來前景而言，請允許我用接下來的幾分鐘來討論本季的互動業務。首先，第三季我們繼續獲得更多海外客戶。至此簽約客戶數已達500家13。我們的支出較上季成長 32%。其次，截至2024年9月30日，截至2024年9月30日，截至12月季度，累計簽約合約價值增加人民幣600萬元，簽約合約總價值增加約人民幣4800萬元。我們對這個結果感到非常滿意。此外，我們在本季將全球影響力擴展到其他國家。截至2024年9月30日，我們的互動產品和服務已銷往全球超過31個不同國家和地區的客戶。

In summary, since we expanded overseas, more than 513 customers from 3041 country has tested convinced and brought our multichannel digital services to help them improve their user engagement effort and to do it in a more cost efficient manner, meeting and assisting the client's expectations is what we believe to be the key to our success globally. We will certainly not be sitting on our lorries. We will continue to work hard and harder.

總而言之，自從我們向海外擴張以來，來自3041 個國家的超過513 名客戶已經測試說服並帶來了我們的多渠道數位服務，幫助他們提高用戶參與度，並以更具成本效益的方式做到這一點，滿足和協助客戶的期望是我們認為這是我們在全球取得成功的關鍵。我們當然不會坐在卡車上。我們將繼續努力，更加努力。

We have high hopes to achieve greater things overseas internally. We can properly through and prepare the detailed education plans and allocate our resources accordingly.

我們寄予厚望，希望能在海外取得更大的成就。我們可以妥善製定和製定詳細的教育計劃，並相應地分配我們的資源。

And this is an ongoing process where we will make continuous adjustment and to take as when necessary. Yes, the overseas expansion is not easy, but with the track record we have had for the past six quarters, I'm very hopeful yet committed to ensure we can and we will continue to bring in great customers from around the world every quarter as of today. Apart from our Singapore office, we can set up our office in Kuala Lumpur. We now have local sales who have great local knowledge on the ground and can better serve the local markets and the neighboring countries and customers.

這是一個持續的過程，我們將不斷調整並在必要時採取措施。是的，海外擴張並不容易，但根據我們過去六個季度的業績記錄，我非常充滿希望，但也致力於確保我們能夠並且我們將繼續每個季度從世界各地引進優質客戶今天的。除了新加坡辦事處外，我們還可以在吉隆坡設立辦事處。我們現在有當地的銷售人員，他們對當地有豐富的了解，可以更好地服務當地市場以及週邊國家和客戶。

As a matter of fact, I was in KPO last week for the, for the short one week business trip there, I was overwhelmed with the great responses from our potential customers in KPO.

事實上，我上週在 KPO 進行了為期一周的短暫商務旅行，我對 KPO 潛在客戶的熱烈反響感到不知所措。

They were very impressed with the multichannel engagement services we have and are and to subscribe our services.

他們對我們擁有和正在提供的多管道互動服務印象深刻，並訂閱了我們的服務。

Our services are indeed very suited to the local market and customer needs. Therefore, we are building a very strong sales pipeline in Malaysia and we allocate more resources to increase both the market penetration and market share there.

我們的服務確實非常適合當地市場和客戶的需求。因此，我們正在馬來西亞建立非常強大的銷售管道，並分配更多資源來提高那裡的市場滲透率和市場份額。

With the success cases we have in both both singapore and Malaysia, we are going to replicate this conversion of new customers acquisition experience to other countries in Asia Pacific region.

憑藉我們在新加坡和馬來西亞的成功案例，我們將把這種新客戶獲取經驗的轉換複製到亞太地區的其他國家。

I believe there will be more great success story that I am able to share with you in the next call with that. I will now pass the call to Shannin who will share more about the vertical applications and other aspects of our financial performance for this quarter.

我相信在下一次電話會議中我將能夠與大家分享更多偉大的成功故事。我現在將把電話轉給 Shannin，他將分享更多有關垂直應用程式以及我們本季財務表現其他方面的資訊。

Thanks Luo.

謝謝羅。

Next, I'll go over the revenue for vertical application that includes financial risk management and market intelligence.

接下來，我將介紹垂直應用程式的收入，包括財務風險管理和市場情報。

Overall vertical application had a relatively quiet quarter where revenue decreased by 6% quarter over quarter and 4% year over year. Nevertheless, within a relatively quiet quarter, we still saw great numbers from financial risk management where it recorded a 29% growth in revenue year over year and relatively flat quarter over quarter. They were the star performer within vertical applications.

整體垂直應用有一個相對平靜的季度，收入環比下降 6%，年減 4%。儘管如此，在一個相對平靜的季度內，我們仍然看到來自金融風險管理的大量數據，其收入年增 29%，環比相對持平。它們是垂直應用程式中的明星表現者。

The 29% year over year revenue growth was mainly due to a strong 28% growth in upro.

營收年增 29% 主要歸功於 UPRO 強勁成長 28%。

The trend we have seen in Q3 was existing. Customers have increased their consumption of our financial risk management product and services. And this is very important and it provided a very solid foundation for the revenue numbers every quarter.

我們在第三季看到的趨勢是存在的。客戶對我們的金融風險管理產品和服務的消費增加。這非常重要，它為每季的收入數字提供了非常堅實的基礎。

This also demonstrate that our products are widely used and well received by the financial sector customer in their own risk model.

這也顯示我們的產品在金融業客戶的自身風險模型中得到了廣泛的使用和好評。

The customers that we sign up or renew in Q3 include but not limited to Ningbo in Chengdu, Yang, Haer Xiaojing, Ping An Xiaojing and many other more licensed credit and financial institutions throughout China.

我們在第三季簽約或續約的客戶包括但不限於成都的寧波、楊家、哈爾小晶、平安小晶以及中國其他更多持牌信貸和金融機構。

Market. Intelligence revenue decreased by 41% year over year and 22% quarter over quarter due to the continued weak market demand for Chinese AP data.

市場。由於市場對中國美聯社數據的需求持續疲軟，情報收入較去年同期下降 41%，季減 22%。

This is in line with our expected expectation in Q3 of 2024 we did manage to sign renewal contracts with some well known large customers and within market intelligence. For product perspective, we have recently launched a global ranking of AP P service where customers can have access to multidimensional indicators including app penetration rate, active users and new users of global key AP P across different countries and different regions.

這符合我們對 2024 年第三季的預期，我們確實設法與一些知名大客戶並在市場情報中籤署了續約合約。從產品角度來看，我們最近推出了全球重點APP服務排行榜，客戶可以了解到全球重點APP在不同國家、不同地區的滲透率、活躍用戶、新增用戶等多維度指標。

And since its launch in September, we have seen good trial accounts registration rate and we believe it will give a good and new set of independent source of data to enterprises and investment customers for them to make informed investment decision.

自9月推出以來，我們看到了良好的試用帳戶註冊率，我們相信它將為企業和投資客戶提供一套良好的、全新的獨立資料來源，幫助他們做出明智的投資決策。

Next, I'll go through some of the key expenses and balance sheet items on to operating expenses.

接下來，我將介紹一些關於營運費用的關鍵費用和資產負債表項目。

Our Q3 operating expenses was at RMB57.1 million representing a slight 4% increase quarter over quarter and 5% decrease year over year.

第三季營業費用為人民幣 5,710 萬元，較上季小幅成長 4%，較去年同期下降 5%。

The majority of the increase was attributable to our sales and marketing department as we expand overseas. This has no doubt require additional resources allocation.

成長的大部分歸因於我們在海外擴張時的銷售和行銷部門。這無疑需要額外的資源分配。

Also the increase in revenue and cash collection in this quarter also resulted in additional commission and expenses. These are all within our expectations and so long as the revenue and gross profit are growing at a faster pace than OPECS, the end result will be a plus to the financial statement.

此外，本季收入和現金回款的增加也導致了額外的佣金和費用。這些都在我們的預期之內，只要收入和毛利的成長速度快於OPEC，最終的結果將是對財務報表的利多。

I will now go to the individual OPECS category for R&D expenses. It decreased by 26% year over year to RMB24.2 million mainly due to lower head count that reduced salary costs and associated share based compensation and a decrease in data analysis and technical service expense selling and marketing expenses increased by 3% year over year to 22.4 million. Mainly due to the increase in sales commission and travel expenses as we continue to expand overseas G&A expense increased by 92% year over year to RMB10.4 million. Mainly due to the oneoff RMB7.6 million gain from disposal of fixed assets in last year. That was nonexistent in Q3 of this year.

我現在將討論個別 OPECS 類別的研發費用。年減26%至人民幣2,420萬元，主要是由於人員數量減少導致薪資成本和相關股權激勵減少，以及數據分析和技術服務費用減少，銷售和行銷費用年增3%至人民幣2,420萬元。 。主要是由於我們持續擴大海外業務，銷售佣金和差旅費增加所致，管理及行政費用年增92%至人民幣1,040萬元。主要是去年一次性處分固定資產收益760萬元所致。這在今年第三季是不存在的。

Other G&A expenses movement was within expectation on to the balance sheet.

資產負債表上的其他一般及行政費用變動符合預期。

I will share two very important KPIS that we closely monitor. We continue to maintain a healthy turnover days at 48 days, we will continue to work hard to ensure we actively collect cash from customers. And at the same time mitigating the risk of bad and doubtful death.

我將分享我們密切監控的兩個非常重要的 KPIS。我們繼續保持48天的健康週轉天數，我們將繼續努力確保我們積極向客戶收取現金。同時降低不良死亡和可疑死亡的風險。

Secondly, one of the key KPI for tracking performance of SARS company is a total different revenue which represents cash collected in advance from customers for future contract performance which remain high at RMB134.8 million and this is the 11 quarter consecutive quarter where our revenue balance was, has exceeded 130 million on the on the cash flow. We are very pleased with the team's diligent cash management in the operating activity. This quarter for the quarter ended September 30th. We have recorded net operating activities, cash inflow of RMB12.3 million which is the highest level for the past 16 quarters.

其次，追蹤 SARS 公司業績的關鍵 KPI 之一是總不同收入，即為未來合約履行而向客戶預收的現金，該收入仍保持在人民幣 1.348 億元的高位，這是我們連續 11 個季度的收入平衡當年，現金流上已經突破1.3億。我們對團隊在經營活動中勤勉的現金管理感到非常滿意。本季截至 9 月 30 日。我們錄得淨經營活動現金流入人民幣1,230萬元，為過去16季的最高水準。

Next total assets were 5,351.7 million as of September 30th.

截至 9 月 30 日，下期總資產為 53.517 億。

This includes cash and cash equivalent of 101 million accounts receivable of 40.5 million prepayments and other current assets of 20.2 million operating list, right of use assets of 20.9 million fixed assets of 3.2 million long term investment of 112.5 million goodwill of 37.8 million and intangible assets of 14.7 million resulting from the STLA acquisition in March 2022.

其中包括現金及現金等價物 1.01 億 應收帳款 4,050 萬 預付款項及其他流動資產 2,020 萬 營運清單、使用權資產 2,090 萬 固定資產 320 萬 長期投資 1.125 億 商譽 3,780 萬 無形資產 2022 年收購STLA後產生的1,470 萬美元。

Total. Current liabilities were at 238.3 million. This includes accounts payable of 27.1 million current operating list liability of 5.4 million deferred revenue of 134.8 million accrued liabilities of 68 million.

全部的。流動負債為2.383億。其中包括應付帳款 2,710 萬當前經營清單負債 540 萬遞延收入 1.348 億應計負債 6,800 萬。

Now let me take a few minutes here to recap Q3 of 2024 that we just had in this quarter. Our developer subscription services recorded solid and impressive revenue growth year over year. And more importantly, we achieved a 50 million revenue quarter for the first time in history.

現在，讓我花幾分鐘時間回顧一下我們本季剛經歷的 2024 年第三季。我們的開發者訂閱服務收入較去年同期成長強勁且令人印象深刻。更重要的是，我們歷史上首次實現了季度營收 5,000 萬美元。

Number two, we are making history again in this quarter where we had the fifth consecutive quarters of positive adjusted EBITA number three, our engage business recorded customer number growth of more than 32% quarter over quarter and cumulative contract value increased by more than 7 million between the quarters to more than 38 million.

第二，本季我們再次創造歷史，連續五個季度調整後 EBITA 為正值第三，我們的參與業務記錄的客戶數量環比增長超過 32%，累計合約價值增加超過 700 萬份季度間超過3800萬。

And we recorded net operating cash inflow of 12.3 million.

我們錄得營運現金流淨流入1230萬。

And lastly before I conclude, I shall give an update on the share repurchase plan in the quarter ended September 30th 2024. We repurchased 29,000 ads. Cumulatively, we have repurchased a total of 24, 6,000 ads since the start of our repurchase program.

最後，在結束之前，我將介紹截至 2024 年 9 月 30 日的季度股票回購計畫的最新情況。我們重新購買了 29,000 個廣告。自回購計畫啟動以來，我們已累積回購了 24 個、6,000 個廣告。

And this concludes our prepared remarks. We are happy to take your question. Now, operator, please proceed.

我們準備好的演講到此結束。我們很高興回答您的問題。現在，接線員，請繼續。

Thank you. If you'd like to ask a question, please press star 11. If your question has been answered and you'd like to remove yourself from the queue, please press star 11 again.

謝謝。如果您想提問，請按星號 11。如果您的問題已得到解答並且您想將自己從佇列中刪除，請再次按星號 11。

Our first question comes from Calvin Wong with Speaker capital. Your line is open.

我們的第一個問題來自Speaker Capital的Calvin Wong。您的線路已開通。

Thank you for taking my questions. I really appreciate that the management has delivered another quarter of very impressive results. I'd like to recap what I heard from you a few things. 15 consecutive quarters of positive adjusted EBIDA and do you co developer subscription business revenue of more than RMB15 million and finally engage that business is growing significantly every quarter. So I really appreciate management. Could provide more colors on all of these three great achievements plans.

感謝您回答我的問題。我非常感謝管理層又一個季度取得了令人印象深刻的業績。我想回顧一下我從你那裡聽到的一些事情。連續15個季度正向調整後的EBIDA和你合作開發者訂閱業務收入超過人民幣1500萬元，最終參與該業務每季度都在大幅增長。所以我真的很欣賞管理。可以為這三個偉大的成就計劃提供更多的色彩。

Let me take this question for many including yourself, would appreciate achieving this. Any one of these within a quarter is not an easy task. And for us to do it with three great milestone that you mentioned in one quarter. I think it's remarkable to say the least. And if there's one thing that I can attribute this to, I would say it will be the effective execution that help us bring this numbers.

讓我向包括您在內的許多人提出這個問題，我將不勝感激實現這一目標。一個季度內完成其中任何一項都不是一件容易的事。我們要透過您在一個季度提到的三個偉大里程碑來做到這一點。我認為至少可以說這是很了不起的。如果我可以將其歸因於一件事，那就是有效的執行力幫助我們實現了這個數字。

I mean, you can spend as much time and energy in the planning and preparation stage. But I think the key to any success is how well you execute your plan.

我的意思是，你可以在計劃和準備階段花費盡可能多的時間和精力。但我認為任何成功的關鍵在於你如何執行你的計劃。

And probably as you know, we started the plan to go overseas about 18 to 20 months ago. And by then, it was a rough road ahead of us and we have to start everything from scratch and we did not just buy an overseas company who has operations overseas.

也許你也知道，我們大約在 18 到 20 個月前就開始了出海計畫。那時，我們前面的路很坎坷，我們必須一切從頭開始，我們不只是收購一家在海外開展業務的海外公司。

We did it the hard way, but on the way, we learned a lot, we tackle all the issues ourselves. And for instance, when we venture overseas, we need to sort out where we should store our customers data and which overseas cloud service provider that suit us best and suit our customers best and also which it structure should we have to serve our customers across 31 countries that Chris mentioned.

我們做得很艱難，但在路上，我們學到了很多東西，我們自己解決了所有問題。比方說，當我們在海外創業時，我們需要弄清楚我們應該把客戶資料儲存在哪裡，哪個海外雲端服務供應商最適合我們，最適合我們的客戶，以及我們應該以什麼樣的結構來服務31個國家的客戶。

And the best answer to this can only be had through on field execution.

而這個問題的最佳答案只能透過現場執行來獲得。

And also because we executed the going overseas plan really well. And we are able to have a 50 million revenue quarter for developer subscription service. And this is the highest highest single quarter revenue for this segment in our history. And this will not be achieved by simply having really good plans.

也因為我們的出海計畫執行得非常好。我們能夠為開發者訂閱服務提供 5000 萬美元的季度收入。這是我們歷史上該細分市場最高的單季收入。而僅僅透過制定非常好的計劃是無法實現這一目標的。

And at the same token, having a 50 million revenue quarters for developer subscription revenue itself will not automatically achieve positive adjusted EBITA.

同樣的道理，擁有 5,000 萬季的開發者訂閱收入本身並不會自動實現正調整 EBITA。

We have to properly execute the business expansion and cost saving plans simultaneously and all these are interrelated.

我們必須同時正確執行業務擴展和成本節約計劃，所有這些都是相互關聯的。

So therefore, in conclusion, it is clear that we the management has an execution, skill and determination to manage the business and managing it well.

因此，總而言之，很明顯，我們管理層有執行力、技能和決心來管理業務並管理它。

So only when we effectively executed this plan that we have, we can achieve a record breaking quarter that Chris mentioned at the beginning of this call and hope this answer your question, Gavin very clear.

因此，只有當我們有效地執行我們現有的計劃時，我們才能實現克里斯在本次電話會議開始時提到的破紀錄的季度業績，並希望這能回答您的問題，加文非常清楚。

Thank you.

謝謝。

Thank you. Our next question comes from Jackson with Jon Research. Your line is open.

謝謝。我們的下一個問題來自喬恩研究中心的傑克森。您的線路已開通。

Congratulations on strong quarter. I'm Jack Sun from G Research. I got a question for management.

恭喜季度表現強勁。我是 G Research 的 Jack Sun。我有一個管理問題。

I heard Chris mention during the call that for the overseas expansion, you have offices and staff in both singapore and Malaysia to support overseas business growth. Are we expecting more offices around the world in the near future? Thanks.

我聽到Chris在電話中提到，為了海外擴張，你們在新加坡和馬來西亞都設有辦事處和員工，以支持海外業務的成長。我們是否期望在不久的將來在世界各地設立更多辦事處？謝謝。

Yeah, thanks, Jack. Let me take this question too. Yes, you're right. We now have offices in both singapore and Malaysia in Kuala Lumpur, which is in Malaysia. And we make conscious decisions when selecting these two cities to have our offices for the for the immediate. We believe these two offices are strategically well located to help us expand in the Southeast Asia and beyond. Currently, a good portion of our overseas revenue are derived from customers in the Southeast Asia region. Therefore, having local teams to support this region is key. And also we need to have, we need to be there when customers have issue that needs addressing or when they have plans to buy more of our services.

是的，謝謝，傑克。我也來回答這個問題吧。是的，你說得對。我們現在在新加坡和馬來西亞的吉隆坡都設有辦事處。當我們選擇這兩個城市作為我們的辦公室時，我們會做出明智的決定。我們相信，這兩個辦公室地理位置優越，可以幫助我們在東南亞及其他地區拓展業務。目前，我們的海外收入很大一部分來自東南亞地區的客戶。因此，擁有本地團隊來支持該地區是關鍵。當客戶有需要解決的問題或當他們計劃購買更多我們的服務時，我們也需要在那裡。

And we believe there are a lot of opportunities in the Southeast Asia countries that we can harvest in the near future.

我們相信在不久的將來我們可以在東南亞國家收穫許多機會。

And also with teams in Kl and Singapore, it is only a short trip for them if they need to be in say Bangkok, Taipei, Jakarta or even any cities within the Southeast Asia region.

此外，對於吉隆坡和新加坡的團隊來說，如果他們需要前往曼谷、台北、雅加達甚至東南亞地區的任何城市，這對他們來說也只是短途旅行。

And as a matter of fact, our Singapore team has flown to Taipei this week for meetings with the customers and ISV there and looking ahead, we certainly, we certainly will be considering more offices when there is a good reason to have stick stick, for example, should the business in terms of customers number and revenue in the Gulf region is becoming material. We will certainly be open to having our offices in Doha Dubai or even Abu Dhabi to serve the customer in that region. So if I may the short answer to your question is that the need to have more offices overseas is so dependent on the numbers. So long as the numbers add up, we have ie we have enough customers and enough revenue. We definitely will set up overseas, more overseas offices in the near future. Hope it answer to your question, Jack.

事實上，我們的新加坡團隊本週已飛往台北與那裡的客戶和 ISV 會面，展望未來，當有充分理由堅持時，我們當然會考慮設立更多辦事處，因為例如，海灣地區的客戶數量和收入方面的業務是否變得重要。我們當然願意在杜哈、杜拜甚至阿布達比設立辦事處，為該地區的客戶提供服務。因此，請允許我對你的問題簡單回答一下，是否需要在海外設立更多辦事處很大程度上取決於數量。只要數字加起來，我們就有足夠的客戶和足夠的收入。我們肯定會在不久的將來設立海外、更多的海外辦事處。希望它能回答你的問題，傑克。

Yeah, that's very clear. Thanks a lot.

是的，這很清楚。多謝。

Thank you. There are no further questions at this time. I'd like to turn the call over to Christian Arnell for closing remarks.

謝謝。目前沒有其他問題。我想將電話轉給克里斯蒂安·阿內爾（Christian Arnell）做總結發言。

Thank you. Thank you everyone for joining our call tonight. If you have any further questions and comments, please don't hesitate to reach out to the IR team. This concludes the call. Have a great evening, everyone. Thank you.

謝謝。感謝大家今晚加入我們的電話會議。如果您還有任何其他問題和意見，請隨時聯絡 IR 團隊。通話就此結束。祝大家有個愉快的夜晚。謝謝。

Thank you for your participation. This does include the program. You may now disconnect. Good day.

感謝您的參與。這確實包括該程式。您現在可以斷開連線。再會。