Earnings call transcript Q1 2023

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Operator

Hello, ladies and gentlemen. Thank you for standing by for 36Kr Holdings Inc.

First Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After management's remarks, there will be a question-and-answer session. being is call conference recorded. Today's

like I to company. the Jiaochen. over turn host, would Please Jiaochen ahead, the now your of Yen conference Manager to (ph), go IR

Unidentified Company Representative

Holdings everyone, company's The and been operational earlier welcome Hello, made conference released financial much. were and very XXXX earnings you to Thank XXKr today first results available quarter call. and have online.

website the visiting the on our You by IR release can at earnings also press view ir.XXkr.com. section

Feng; Co-Chairman opening Participants call CFO, interpretation. and in on on English of Ms. an Dagang company's call performance CEO, today's quarter results, Feng by the questions. of followed call and highlights details overview our the financial our Lin start and Wei the your Mr. include an Wei. the for will Ms. company by provide before Chinese, the Mr. will will providing then

note XXXX. will the Private we today's of Act safe Before provisions forward-looking under Securities of harbor that please the U.S. statements Reform made continue, discussion Litigation contain

and Forward-looking statements involve inherent uncertainties. risks

As views expressed such, different from may the results the today. materially be company's

update not except these any information law. U.S. uncertainties the in SEC. included with other risks company as prospectus other as and The required does Further under is company's public to the statements, and obligation filings and any regarding forward-looking filed assume applicable

reconciliation all well RMB. to a please note Please note contains and non-GAAP and as are press amount the as XXKr's unaudited measures press unaudited earnings numbers in this release release unaudited conference that unaudited of measures financial XXKr's the financial call include that non-GAAP GAAP GAAP discussions earnings of measures. measures

go Dagang our to Feng. call I Pal, will turn the Co-Chairman and now CEO, Mr. ahead. please over

Dagang Feng

Language] [Foreign

earnings first Thank joining our conference Hello, you you. quarter everyone. Thank call. [Interpreted] for XXXX

in delighted first impact pandemic's we away, growth of results, financial the As delivering quarter XXXX. double-digit revenue to report the are stellar faded

growth with three Our million, primary XX% across segments. reached extensive total to RMBXX.X business year-over-year, up our all revenue of

XX% reached our RMBXX.X Advertising year-over-year. our million, revenue segments, For up

up direct business. are million, content, forging from a X% quality jumped of RMBXX.X consistent These board in our of product Subscription Services of revenue year-over-year. delivered Services XX% technologies, the our revenue result year-over-year. high phase with and new the Value-Added in ushering Enterprise Our ahead efforts And across achievements

Let with content. me start

content attention our to articles users insightful a leading major we events, enterprises expanded industries, offering stepping and the also The rise. output reports, our we continued to blockbuster content direct coverage of new professional on number of to As while experience. up our more exclusive holistic is and

of and first of hitting article Zi page Robin page TikTok Baidu; Chew’s, with quarter, a XXX,XXX In had and many the which articles Shou covering heated covered XXX collapsed XXX,XXX, more we piece the each than have topics founder PVs story which around XXX,XXX face over Li, exceeding U.S. the featuring on CEO, with Valley Congress; including Silicon Bank an XX off views. views, after hours the

articles, These industry provoking leading among others, insights thought showcased influence. and XXKr's

Our enhanced contributed growth our influence base. in content significant to user also

XX year-over-year. followers, the we of of the more quarter, As million first up had XX% than end

the latest following new in transformation The industries. Emergence account, models. provide on in-depth generative to WeChat and language to we Since areas closely AI AI developments coverage trends, large have multiple a the response across of launched industries, we XXXX, current of soon booming beginning Intelligence, been including the In

potential. account our to two initiatives focusing foundation of These tech. advance and industry new our the we for on quarter, enabled intellectualization the out have laid evolution by further auto first PowerOn, AI the and enhancing ongoing also EV us in In a rolled the WeChat a sector, sub-verticals solid energy growth

examples galleries and on from finally as channels, the anticipated on-site news, covering the quarter reports. breaking through underway. has XXKr such long are lines many multiple CES, Notable MWC addition, developments and front AWE. In first photo the been industry events on-site include latest video

the as and broad new home Specifically, reports and our EVs Auto to deliver cohort and perspective differentiation between auto comprehensive of the on a VIPs. enterprises abroad, Expo as the vehicles in-depth from of car well (ph) Shanghai model traditional we first-hand exhibition leveraged comparisons, various industry

We opportunity account, Auto. titled to upgrade Auto WeChat auto to account also took WeChat Daily this our content with video PowerOn roll-out account metrix XXKr's the WeChat an XXKr Future and

potential, insightful These but channels tap users, us market's upside. and not only the revenue massive to electric content growth industry into generate EV greater coverage vehicle to to allows market delivered also accelerating momentum our strong ultimately rich

upon and I built user quarter of to video capabilities, first generating an numbers. also huge want highlight our content driving in business. production In XXXX, the outstanding we short surge

number the first exceeded became throughout e-commerce year-over-year to using XX% in short XXKr whole followers create million, video X ever process. remarkable an increase. store technologies of Our pioneer the AI industry a

operation The AI These and popular. AI is are demonstrations products are our Taobao AI store design and tech sensitivity LumiWink in now the of foresight. convincing

the store AI AI features opening XXKr's image generation AI steps video and original using design, the which our product copywriting. stores stores with Taobao a For experimental opened and including naming robots, establishing key Taobao of of instance, technologies, our

XX Taobao. follow-ups while company. store's operations. The AI original unlocking AI clicks and The and more Weibo costs channels, expertise was diversified of continued likes. It this for by technologies official combination technologies and Xiaohongshu topic Bilibili, and also trendy organic This revenue-generating our attracted video greatly of know-how more XX,XXX by hot value and than on triggered the reducing million our improved listed over efficiency as

with conducted of first Li, Robin of strides content recently future. in of in-depth Foreseeing into captivating Leapmotor; Group; Shi season, founder co-founder In Zhenyu Dedao, our major and show, interviews Luo, Vanke; addition, launched and have with James production of China Jiangming Liang, including In first founder tycoons, fascinating talk founder we Trip.com Zhu, long made of insights audiences Wang, I industry video XXXX. founder Baidu; the the

channels. a among simultaneously media our to and outlets, growing diverse network established full-coverage Youku, and building TV our growth video ecosystem, marking on further expanding our in was mediums, These content which and with and System, including videos, encouraged livestreamed audio dissemination reach XXXX graphics, unlocking social long- add potential. content Television success XXKr's and well Radio and Station, long formats Beijing closed-loop Broadcasting Foreseeing across & platforms and Henan text, our enriched as synergies content further as landscape short-form our ecosystem

In products, including to Venture in terms of we the end the and approach first improved Capital ability users, platform's investors XXkr further and quarter. notify entrepreneurs

and its fully recommendations curated we addition, by portfolios. the innovative upgraded highly In popular in enhancing deals operations enterprises, program and specialized mini WeChat and

investors number In with platform's efficiently Venture The for key all quarter XXXX, providing active of and entrepreneurs as well the XXKr platform first indicators over including funding investors, X,XXX matching of platform tech their frequency, traffic. connected Capital new increased, support growth. the substantially as valuable start-ups

me commercialization, to initiatives. briefly our update you on move on AIGC I Before let

XXKr Over always close development. years, the attention paid to has tech most of the frontiers advanced

actively evolved, its tech these production the R&D. with ecosystem and generative our and applied we leveraged our technologies fit to business, integrating product content natural AIGC As AI technologies with content

for I precise adopted production AIGC cost on with increase. information decision-making enterprise product The tech efficient And more customer and data to and as for into and as focused we also text integrating store, other to efficient smart, service. platform tech efficiency, XXKr revenue our support. provide the translation, text chatbot overall review and areas, image AI collection quickly generation, services technology open lower users implemented We mentioned, Taobao actively well operation higher leveraging just as AI

In quarter. have accumulated AI steady our summary, advantages growth. we the revenue our product fortified and commercialization boosted with and our equipped advances tech content enabled ecosystem, ourselves consistently during These capabilities

by The advertising year-over-year million, details grew the our share ARPU revenue year-over-year. XXX, customers of increased the to like primary our growth Notably, XXXX, our of million up with all revenue I'd segments. year-over-year. we XX% of achieved Next, RMBXX.X progress. commercialization year-on-year to number reached increasing business and first across up of XX% X% to RMBXX.X RMBXXX,XXX, quarter our total three to In X.X% Advertising up

At time, global Leveraging expanded companies improved our understanding notable giants same deep one-stop results on quarter, tech us. with brand the In XXKr the communications offers brand positioning service our our XXX marketing brand amongst first camps. on from and Tesla forging medium-sized for global of and base initiative many received customer Meta on we and contracts also On target such we centered annual audiences, on their Amazon, efficacy. recognition renewed branding solutions globalization and achieved they the giants enterprises. top based from small that, customers' as

with instance, overseas sides we about platforms, Meta, brand invited business companies and both to exchange and communications. For to speeches conduct for experts expansion lending companies interviews voice in Chinese connect globalization in bigger a brand global ideas with

new ventured hands In and potential homes into appliance creating industries upside the addition, revenue (ph), Gree with joined industry. in we've

also partnerships. and demonstrating strong Joyoung. We brands, constructive including and also advertising our Samsung, renewed confirmed while top with and in achievements enhancing capabilities marketing These Haier, expertise Midea contracts our expanding

communications, quarter array diverse another KOL Intel launched partnered Our lifestyles. another them such both quarter including stellar short disseminate of and short to with compelling new delivered stories video Among marketing, technological These we Huawei, from Hewlett help insights business Snapdragon topics, Qualcomm’s as to including including of advertisers recognition and video high. behind-the-scenes, innovation via praise programs, results. Packard, customers, JingJiu. size our China and business in us We programs popular drew sectors, various and our covering first also programs an contract products, boosting Snapdragon fully these and record showcase

industry enhancing industry the hosted activities the influence enterprises for results. a rally the rise other large in all-new Value-Added the further first AI businesses, With Also receded, models, iFLYTEK, as up ahead WISE offline of next-generation year-over-year delivering XXKr's take AI, driving technologies as Services, language respect giants, to Baidu, XXXX and pandemic with Microsoft, AIGC quarter. X% we and million AIGC ideas industry on various Enterprise to experienced various hold, road to and including capitalize sharing revenue events Summit, to SenseTime we commercialization explore the during positive RMBXX.X the including leading

integrated the as new operations the as quarter, our service and offerings, service content, features we original our platforms facilitated KOC first These base. side, continued expand diversified businesses. for providing On continue original well video customer to marketing both accounts WeChat of agency including expansion in

with entered agreements Yadea in Securities, renowned companies, marketing cooperation increase Huatai revenue. including integrated into We spurring an our and also

business courses and we membership year-over-year. We revenue our for of vastly subscription paid to subscription attention entrepreneurship RMBXXX,XXX. XX% services the increasing XXKr by raised class actively substantially our scale individual of while optimization developing services, course Subscription our growth-oriented continued As training by which to the increasing system frequency, design products, improving programs, optimize to school, ARPU particular and

I'd such basic and of as parameters. the we Services first product least, the and its on XXXX, not to quarter update In product but library, adding share continued review pricing Last information cases, optimize platform. an like XXKr improve reference to Enterprise

XX%. over Furthermore, completed e-commerce, products optimizing interfaces functions, increasing areas, also the in product core PC the accretively devices. mapping platform We while and revamped both nine retail of new and our to we mobile SCRM, classification including

By further functions, easier and and more use. module the improving we the made search reading product accessible to

profile conversion nearly platform the to result, creation business rate a As a from doubled more year-over-year.

we increased platform's operational in automatically addition, and times AIGC With responses enhancing experience, this user In our over inquiries. user adopted generate product to descriptions tech to year-over-year. support efficiency by XX

ongoing reflected its by rapid have the intelligence improved short, enhancements the of In efficiency across Services product comprehensively XXKr growth convenience, in and metrics level platform, our Enterprise operating board. function the review

nearly number the As merchants XX% XXXX, the platform the X,XXX, reviews The and of year-over-year, on up number reached the cumulative year-over-year. up of products platform the doubling of XXX% on topped of quarter of first exceeded cumulative number year-over-year. XX,XXX, X,XXX,

featuring next making commercialization, and brand built successfully iteration existing and the commission-based upon of our marketing. commercialization this the promotion service enterprise implemented empowering We capabilities of Enterprise terms customer and content XXKr offerings platform, lead reinforced and all-new integrated quarter, an our In building of review we model decision generation Services further services, business support. for acquisition

new Our SaaS as payments we to model received bear XX begun from has generating fruit have profit enterprises.

further we corporate decision corporate enterprise with capabilities the secure, digital smartification provide the process. efficient and enhance service making by more Going decision-making transforming awareness services, platform will realizing enhancing of forward, customers and

large The of latest technologies journey welcome for development new new next-generation of are we of in growth excited AI models and new economy As innovative we us and rapid the growth language wave with in our development. era to on provide embark sector. significant XXXX, catalysts a

visionary in product, business three boasting benefit directly platform historical this and segments our commercialization. As will deliver disruptive across business-savvy from XXKr opportunity growth content, core a and insight,

impressive pioneering dedicated a new participants business we prominent a for platform brand more economy gearing and China, our to As core in are in serving up growth segments.

up product to committed innovation. high are our stepping capabilities expanding the and further actively exploring in our breadth depth creation business quality and We of content, of the

society as AIGC opportunities thereby and shareholders, value innovative to new technologies and a into enhance drive whole. revenue tap such profitability, long-term to and customers to also our will apply We as advance generating sustainable growth

Please to Ms. turn Lin. Lin call ahead, discuss will key I will our Wei, our over now who that, the With go results. financial CFO,

Lin Wei

you, Thank Pal.

Online more Total to revenues in XX% innovative well Now amount the first I'd the XXXX Please first RMBXX.X like quarter to of numbers an same revenues to year. quarter as of our recovery to demand increased of of million RMB, of as last in walk was financial are solutions, details marketing otherwise in you million stated. services results. through gradual advertising note quarter were compared XXXX. quarter of XXXX. first unless the attributable increase in The of period market RMBXX.X primarily XX% million XXXX, the the year-over-year more first RMBXX.X in all increase

attributable our we in million in our subscribers. customers. revenues first increased quarter to RMBX.X compared fulfillment Cost in increase developed was million of costs. period of XX% year. RMBXX.X proactive various revenues the same efforts to Subscription of year-over-year quarter as high-quality was enterprise higher the the services Enterprise first and subscription revenue level The RMBXX our primarily XXXX. XXXX to increased the value RMBXX.X in last XXXX, added in was of services to year-over-year million costs first attributable of for quarter continuously The models continuous increase content X% million to services offering to primarily

we margin the offline The the was higher RMBXX.X first period courses and primarily scenario and as the year. well XXXX content year. the new occurred video was training We produced of cost we quarter new XXXX compared as grow expect such first in continue last this to profit one-off XX% gross range of this events profit the XXXX, period so in to the some the in to content and on. profit commercialization is costs, more to offline the last of million was in as RMBXX.X Gross Gross program quarters. kicks same in of revenues resumption believe as compared in coming XX% million rebound to of back of fulfillment quarter, quarter this margin to which quarter attributable of Foreseeing a XX% same decrease of in this and

period million related in to expenses the were last attributable RMBXX.X were RMBXX.X expenses. year. partially million year. XXXX, in of and the the in of period expenses in same last Operating the compared RMBXX.X million same marketing quarter increase in Sales The first decrease XXXX first to expenses, quarter by of marketing compared was to million primarily the of increase related payroll the in offset RMBXX

to year, by attributable impact, cost of period rolled G&A period same excluding our allowance Thanks G&A million of fluctuation year-over-year. of expenses same in RMBXX the year. of XXXX previous last actually receivables due down of million account negative impaired year, approximately release first the RMBXX.X financial cash last various the to million primarily such compared was in XX% quarter went in the to in we from losses credit was The were expenses which control for the measures collection to mainly fully out. the items RMBXX.X

revenues, income expenses. was the the same and same to of million payroll Share-based R&D period related quarter last year. first in first RMBX.X million of increase the the the gain as expenses expenses, period in to totaled compared million recognized the of decrease increase of last company million The the year. approximately was a to disposal recognized expenses, because last of development of million million XXXX was primarily the first RMBXX.X of attributable expenses The to Research sales same RMBXX.X cost marketing as RMBXX.X last quarter XXXX, in RMBX.X quarter RMBXX Other RMBX.X in from compared year. XXXX in expenses in million period of G&A were in of primarily in the same period arising in year. of subsidiary compared well compensation and

of year. XXXX, the was adjusted million Non-GAAP in non-GAAP quarter RMBXX.X year. compared last XXKr's the Net to of RMBXX in first loss in period RMBXX.X loss of attributable same to ordinary net million income same XXXX first of was loss million the attributable XXXX, same RMBXX ordinary to last shareholders quarter compared Net last net net income shareholders of in the quarter XXKr to compared the first the period in to was period of RMBXX.X net million of of million in RMBXX.X million of income year.

Basic and loss of first ADS the the period RMBX.XX in last diluted compared XXXX to net net ADS of were quarter same per both per income of in year. RMBX.XX

XX, XXXX. XXXX, the small cash the of quarter and restricted a as equivalents, of and we compared as million to short-term March employee startup of mainly decrease sized economy the XX, had December made year-end was of in company XXXX. in attributable As bonuses million first cash well of cash, RMBXXX payment new RMBXXX company The the investments investment to benefits as

concludes remarks all prepared of This our today.

to the We ahead. now will call open Operator, please questions. go

Operator

Thank [Operator comes from Jing Please CICC. ahead. from question go Instructions] you. first Your Chen

Jing Chen

Language] [Foreign

[Interpreted] Thank my you have questions. for taking two I questions.

is, is e-commerce recovering is the quarter business and business? company's recovery the and advertising advertising the advertising in the market the of XXX outlook first and The what festival for second how

growth growth content we in -- we and exploration are question my And you your the second the the video plans short you. do diversified consider given the how is, potential Thank launched of see video content and further past business, also what to of develop long formats? strong

Dagang Feng

Language] [Foreign

growth delivering in see and first our delighted business road XX% increasing ARPU. on with customers recovery the were to of both we quarter, to In advertising year-over-year, [Interpreted] was the by that revenue number

increased. the and earned centered continuous customers steady up delivered we promotion support of advertising markets growth demand our grand Moreover, our This on to trust better fared XXXX. for than efficacy advertising pick year's the growth. us the business solutions and advertising was gradually XXX business began As and branding

e-commerce our bao advertisement promotion is For platform giants, mainly advertising paid including oriented. example, TMB Tao on the and XXX and JD.com, grand

the rapid remain The cautiously as important as prefer not third e-commerce year ranked more in industry and Some optimistic about We and time platforms been concentrated however, to to We [Technical an brand second our more with advertising in the successfully XXXX. full now industry. utilize traffic, advertising post-pandemic the was recovery have advertisers observe. there platform. heavily need expected quarter as Difficulty] broader marketing

new sector, from are in to we as advantages positioned for part the environment. of market economy But uniquely this XXKr benefit our

For instance, companies we FMCG, expanding enterprises and overseas. observed XC from steady growth in demand Chinese

We will challenges including to to sector, provide and We support believe video business advertising advertising booming remains more products and services further short on track solid growth. achieve economy presents the appealing enhancing both our our differentiated new opportunities and offerings. XXXX

business offerings. a and you. coverage million goal XXXX for in program insight video dissemination At launched launched Thank technological show including cover building featuring videos lifestyle followers. us new We of long long short the network video brand of This of quarter, had X content for original we and have Foreseeing we diverse was a with time, our programs. innovation, fully Recently, our tycoons. series users. full with By milestone we launched platforms innovative in-depth the TV video industry with first same a a short interviews reengaging that end topics over the the

as creative of another terms brand of Huawei, high-profile of marketing, deeper size. Snapdragon, contract some recognized was various with Intel, program and we sectors, JingJiu. with in including agreements by high Qualcomm new Qualcomm, support cooperation Regarding from work partners, secured China collaboration The our such success whom record our Hewlett-Packard, for the our our commercial customers

from [indiscernible], term further the excellent video et AIGC empowering XXKr transmission of greatly technological enrichment AIGC XXKr from cetera. generation opportunity company exploration the generation provides promotes growth, and such applies technology [indiscernible] and directly from from platform an content this text advancement. and new with content This benefit and the to the economy. graph of technologies, tech company for and as text, diversify us

We exploring revenue-generating diversified channels ecosystem. will while explore content

Operator

Thank you.

SWS Research. from Your Zhao ahead. comes Please next Lingyi from go question

Lingyi Zhao

[Foreign Language]

quarterly. changes long-term this some in margin? quarter And you margin should How could you. First changes GP that, the Thank understand year-on-year [Interpreted] we margin and outlook of in decreased quarter? share GP

Lin Wei

a I This this really question. you, will Thank That's Lin. question. is good Lingyi. address

margin there fluctuation. are in I gross resulting several think reasons the

offline courses. First you we all, receded, of as offline offline pandemic the are training including events businesses, as a know, resuming and of lot

So more fees occur venue such and costs like setup obviously, offline there hotel, and things will fees as that. on-site

more to a compared offline So year be will ago, there costs.

we EV columns, the PowerOn, secondly, content in introduced new as we metrics some et well as produced program, as XXXX, remarks, prepared as the video such And namely content new Foreseeing our cetera. also

in So costs. those occurred the this mostly content costs are production recognized rather amortized than quarter over the also immediately where year.

think gross So those will margin gradually, of we back. come I the definitely content as commercialization the new kick-in,

another And reason, there too. is

third is The is the during seasonality really QX year. lowest our reason

revenue go you if up. consecutively So years, to will QX previous our our at look QX,

the come as the So the will year, coming level. margin as our commercialization quarters gross range in think I in, XX% back kicks the to

like the continue I I enterprise margin review term with think XXKr the that new cetera, term. will our initiatives video long et more platform, in as gross as well to our long-form improve think long

the that a will In recurring to the a quarters level. coming QX bounce up, think So I rather gross back. gross one-off scenario margin margin is sum really than

your to answer Lingyi. question, helps this think I Thank you.

Operator

Thank you.

Rui question go next from from Securities. (ph) Yin Your Please ahead. Sealand comes

Rui Yin

Language] [Foreign

measures translate I'll increase customer [Interpreted] enhance payment to enhance Thank or stickiness rates? taking are customer What we -- myself. you.

Lin Wei

answer question. Rui. I your briefly Thanks, will

of to engagement, major the that. number also macros have terms address have and clients three the of -- mainly two In in out we -- customer rolled

all, our competence. of our First is content major

our service coverage our content, to top in-depth the breadth continue of and players improving exclusive We advancing of reports. expand

as hardcore energies. and and those enterprises, care Our health specialized small content highly well areas, and technologies covers enterprises, AI medium extensive and innovative as distinct including new

to category will content number expand expand one. we the well. our as with That's continue customer naturally So base, can

production side. on on the two, number And proactive side, we the product very are really

not of us video our have grow as Those example, also but metrics our key video component product our short-form For long-form a client only our customer newly to enterprise portfolio, services our helped launched become pool. value-added well advertising metrics. has as

not value-added events the IP-ed first project. school things programs in On like launched quarter. but services initiatives, We as marketing we we including high ARPU integrated other only that, AIGC and business individually have also the some training have some conferences, as new enterprise well our side, courses like WISE,

you video look That's at has level to our RMBXXX,XXX. -- ARPU very significantly subscriptions, If that to increased remarkable growth. a close

the geographically And category the is, sector expanding third also we are on side.

expansion, in not geographic For in China but those all major areas. also headquarters of Beijing, Chongqing, now the Zhenzou major top have South Qingdao on cities like only in headquarters offices that, we and China, XX namely regional and And Shenzhen. have in -- we Hefei, Hangzhou,

those penetrating actively government as to into local a cover are governments local We accounts clients the the our key side. will as markets. well the our expand cities government in also but those to not with grow with on That we only low-tiered work side, lot And areas of there. relationship again business local So and their expand business.

looking we our Rui Yin. as solutions -- So customer for Thank well grow engagement. again, question, that's major your the three base you are at as customer our

Operator

Thank you.

Securities. from next ahead. Peipei go comes Your from question Qiu Industrial Please

Peipei Qiu

[Foreign Language]

what will already daily kind production and expect large this us you. Thank or plan using for about you detail in AI? of we more question. I you strategy And could of give financial the [Interpreted] Could benefits content using translate are your any model application?

Dagang Feng

[Foreign Language]

you. Okay, thank [Interpreted]

the general by there on of AIGC the supported a emergence XXKr the discussion intelligent one, and between [results is fit [email] technologies So sector, anguish natural on model]. economy first the

various seamlessly AIGC in ways with benefited business wireless variety a are integrating We technologies areas. by of

the efficiency of AIGC content costs the even can our towards enhance production board. across

effort next-generation integrated the We It into business. able data computation, pioneering and throughout a time. we of industry up and collection. to user provide we as engagement. became achieved were Moreover, the data an the on saved to ever our AI in more reduction whole manual process. homes first AIGC personalized XXKr create instance, overall e-commerce tech consulting, For test enhanced and and cost efficiency store

and the operation now [Technical Lumiwink, and tech are store, of are product Taobao in AI these AR Its our sensitivity convincing is AI Difficulty] demonstrations design foresight.

Opened AI AI key Our naming a and copywriting. experimental design, AI image XXKr's additional video, our opening establishing tech, with of which product and including the steps using Robots, store, features generation, the store stores Taobao

have topic original of models continued our disruptive revenue-generating on innovation tech since been the in it may video mobile know-how, The expertise, and appraisal Internet. AI triggered extensive large years, The the technology This by this the regulation channels. for follow-up organic Taobao. recent most also and combination most industrial diversified trigger ever language

and Economy participants as at Its New new revenue platform a the to pioneering opportunity brand dedicated growth economy serving momentum China. prominent sector a to in

this directly will We from benefit new evolution.

will Going content tech technologies forward, we answer. my users thoroughly, by more AIGC [Technical advanced AIGC That's driven you. continue protection. and to provide with content high-quality Difficulty] Thank with

Operator

you. Thank

Shaw Your Great next question ahead. comes from Kang Chen from (ph) Wall Securities. go Please

Unidentified Participant

Language] [Foreign

Dagang Feng

[Foreign Language]

before is chats. the as we in forums, hosting events activities fireside A in point WISE XXXX summit, recently all launched offline new XXXX, resume [indiscernible] the and and into IP, Going to Summit. were AIGC [Interpreted] able summit case

programs to substantially scope to school services optimize fades our Thank course COVID cleaning we away, pool increased individual you. courses our and through managed As organizing and subscription offline of RMBXXX,XXX. design

Operator

you. Thank

no closing As for turn remarks. like to questions, there to call the I'll further are the now back company over

Lin Wei

Thank Okay. all today's for you participating in call.

further any have questions, contact you If feel team. Relations please again. free our you Thank to Investor

Operator

conference This this today. concludes

You Thank lines. you. may now disconnect your

36Kr (KRKR) 6 Jun 232023 Q1 Earnings call transcript