Welcome to Aurora Mobile's second quarter 2022 earnings conference call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there'll be a question-and-answer session. To ask a question during the session, you will need to press star one one on your telephone. Please be advised that today's conference is being recorded. I'd like to hand the conference over to your host today, Rene Vanguestaine. Thank you. Please go ahead, sir. Thank you, Amber. Hello, everyone, and thank you for joining us today. Aurora's earnings release was distributed earlier today and is available on the IR website at ir.jiguang.cn. On the call today are Mr. Weidong Luo, Chairman and Chief Executive Officer, Mr. Shan-Nen Bong, Chief Financial Officer, and Mr. Guangyan Chen, General Manager. 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 meaning of Section 21E of the Securities Exchange Act of 1934, as amended and as defined in the U.S. 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/or factors are included in the company's filings with the U.S. Securities and Exchange Commission. 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 would like to turn the conference over to Mr. Luo. Please go ahead. Thanks, Rene. Good morning and good evening to everyone on the call. Welcome to Aurora Mobile's 2022 second quarter earnings call. Before I comment on our Q2 results, I would like to remind everyone that the quarterly earnings deck is available on our IR website. You may refer to the deck as we proceed with the call today. Our Q2 results were largely conditioned by the turbulence from the impact of the widespread resurgence of COVID-19. Several of our businesses were adversely affected as numerous cities were shut down between April and June. Despite the overall economic slowdown and the resurgence of COVID-19, we have seen some recovery in our business starting in July. As we mentioned on our Q1 earnings call, we have taken the necessary steps and initiative to proactively address, upscale, and strengthen our management and operational capability to navigate through these tough times. Continuing the efforts started in the past quarter, we shaved off more operating expenses this quarter into main areas. Firstly, we further reduced salary costs as we streamlined our workforce. This is important as salary cost is one of our biggest cost components, and we need to make sure we are operating at the optimal level with the greatest efficiency. Secondly, we closely and thoroughly looked at every single expense from external technical support to bandwidth fees. We have made conscious efforts to search for better deals or replace new vendors in order to reduce the expense level where possible. At this juncture, I would like to take a moment to thank everyone in our company for their contribution in these important cost-cutting initiatives. All these efforts have been positively reflected in the Q2 financial performance. Here are the highlights of our important achievements. Lowest operating expenses for the past 14 quarters since Q1 of 2019 at RMB 87.7 million, down 1%-7% year-over-year. Lowest net loss since Q3 of 2019 at RMB 24.4 million, narrowed down 1%-7% year-over-year. Adjusted EBITDA at negative RMB 8 million, significantly improved by 40% year-over-year. Highest level of net cash inflow from operating activities since Q4 of 2020. Total customer number up 79% year-over-year to 4,709. AR days remain at a healthy level of around 46 days despite the tough business environment. Total deferred revenue was about RMB 100 million for the ninth consecutive quarters. Let me continue with the different revenue streams within the group. Developer Services revenue were down 10% year-over-year to RMB 55.2 million, which was mainly due to the decrease from value-added services, while our subscription services recorded a stable 2% year-over-year growth. Subscription services revenue were RMB 48.3 million, up 2% year-over-year. Our subscription services, which include JPush, Analytics, UMS, and others, are products and services that help app developers and enterprises to improve their operational efficiency. Demand for our subscription services is relatively strong and less impacted by the general sentiment of the macro economy. Despite the very tough operating environment during the quarter, we managed to grow our customer base and sign up several well-known and sizable customers, including China Everbright Bank, Haier Qingdao, Tiger Brokers, and China Merchants Securities, just to name a few. One key milestone in subscription services that I would like to share with you is our overseas business expansion. In Q2, our overseas email deliveries surpassed those in mainland China. This is a great testament to the quality of our products and services, along with our ability to expand our business beyond our shores. We do see overseas expansion as one of our next key growth drivers. With our suite of core products from push notification to emails, I believe we are ready and will seize overseas growth opportunities in the near future. Value-added services revenue decreased by 28% to RMB 16.9 million, which is in line with what we expected last quarter as the overall app market has been relatively weak this quarter. Direct customers contributed more than 60% of JG Alliance revenue stream, while the rest came from third-party agency. Major customers of JG Alliance consist of repeat customers and market leaders across many industry verticals. Key customers include BAT, JD, and VIP.com. With all the changes and uncertainty surrounding us, we are not deterred, nor are we sitting on our laurels. We are more committed than ever to further emphasize and fine-tune our products and technology as we believe a strong and solid foundation can benefit the company in the long term. Next, I would like to update you on our products and particularly innovations. Since the launch of our app mediation platform in the beginning of June, over 2 million DAUs and more than 20 apps have joined our platform with more than 150 apps in the pipeline. We see great potential in our app mediation platform, and as we shared on the last call, overseas players such as AppLovin, MoPub, and IronSource with the similar and proven business models have thrived in this field by helping app developers to grow and monetize. Our app mediation platform enables one-stop SDK-based access to mainstream app platforms such as 360, Tencent, Youku, and Kuaishou. At the same time, it can also quickly access more than 70 other high-return demand-side platforms. As a service provider with extensive experience in the mobile internet industry, we have the niche, and we believe we are in great position to help mobile app developers complete the closed loop of development, operation, and monetization, and achieve sustainable business success. To enable our customer going global to access more overseas messaging channels, in August, we signed a cooperation agreement with WhatsApp, the world's leading private messaging giant. This global cooperation represents a breakthrough in advancing our overseas business and enlarging our business ecosystem. Under this cooperation, WhatsApp is now embedded as one of the channels within our Overseas Messaging Cloud Solution, which was created to empower Chinese enterprise to expand in overseas market with omni-channel intelligent messaging services. I am also very excited to share some updates from our core product, JPush. We have recently released our new customer management feature for VIP Push customers. Users of our service now can easily select target users and send promotional and customized push message to their end user without having to go through the software coding process. According to various research reports, click rate will largely improve when sending a dynamic and customized campaign push messages to end users, rather than just sending the same generic broadcasting message to everyone. This new feature is another meaningful add-on to our comprehensive suite of tools, along with our Smart Push function, which helps the developer perform the post-push analytics. As you see, we were very productive this quarter and made the necessary product improvements and innovations despite the tough business condition. We believe that only when we have a superior products that market demand can we continue to strive and come back even stronger after the current slowdown. I am confident that we are fully equipped and ready for the tides to turn. With that, I will now pass the call over to Shan-Nen, who will share more about the vertical applications and other aspects of our performance. Thanks, Chris. Now let's move on to Vertical Applications. That consists mainly of Financial Risk Management and Market Intelligence. Vertical Applications revenue decreased by 25% year-over-year, mainly due to the impact of COVID-19, which resulted in a dip in the demand and logistical obstacle in contract signing. In the Financial Risk Management segment, revenue decreased by 22% year-over-year to RMB 12 million, mainly due to, one, the slowdown in economy, which resulted in lower demand for our services. Two, delays in contract signing as several major cities was locked down. We're simply not able to mail or deliver contracts to customers for their execution. Nevertheless, some existing key account customer in the financial vertical, such as Sanu Ling, Sucre, Mashang Xiaofei, and WeBank, continue their consumption of our services during the quarter. As an update, in early Q3 of this year, we have signed up many other new customer, including, but not limited to Shanghai Xiaoqing, Shanghai Jianxin Chuangke, Zijin Baoxian, and Sucre, Suhe. Our market intelligence services revenue decreased by 9% to RMB 7.3 million, and we saw similar trend in market intelligence services as well. Despite the slowdown in Q2, our team still managed to sign many well-known customer, including Zhihu, miHoYo, and Weizhi Keji. So far in Q3, we have brought on board many key account customers such as Morningstar, Keep, and Ximalaya. I'll now go through some of the key expenses and balance sheet items. On to operating expenses. As Chris mentioned earlier on, we have yielded some of the best results since Q1 of 2021, when we completed our transition to pure SaaS model as a result of our effective control initiative. Operating expenses decreased by an impressive 17% year-over-year to RMB 87.7 million, and that is the lowest OPEX since Q1 of 2019. All three components within the OPEX category have recorded year-over-year reduction. In particular, R&D expenses decreased 25% to RMB 40.8 million, mainly due to lower headcount that reduced salary costs and associated share-based compensation. Selling and marketing expenses decreased 14% to RMB 23.3 million, mainly due to the decrease in marketing expenses this quarter. G&A expenses decreased 1% to RMB 23.6 million, mainly due to lower salary costs. Our adjusted EBITDA improved 40% year-over-year and 2% quarter-over-quarter respectively to RMB -8 million. Although this was another very challenging quarter, our decision and company-wide effort to tightly control and reduce expenses has clearly paid off. This positive impact has been reflected in the financial statement, and I would like to share with you the following. We have recorded the lowest OPEX in the past 14 quarters since Q1 of 2019. Lowest net loss since Q3 of 2019 at RMB -23.4 million. Adjusted EBITDA at RMB -8 million, improved by 40% year-over-year. We have the highest level of net cash flow, cash inflow from operating activities since Q4 of 2020. We have the lowest adjusting operating expenses, which represent the cash component of OpEx since Q1 of 2021. Now on to balance sheet. I'll share two very important KPIs that we closely monitor. Firstly, the AR turnover days have maintained stable at 46 days this quarter compared to 46 days last quarter. Our disciplined accounting policy and cash collection effort ensure timely collection of our ARs. Secondly, the total deferred revenue balance, which represent cash collected in advance from customer, exceeded RMB 100 million at quarter end for the nine consecutive quarter. As of June 30th, 2022, the total deferred revenue was at historical high of 137.7 million. Next, total assets were at RMB 448.7 million as of June 30th, 2022. This includes cash and cash equivalents of RMB 112 million, accounts receivable of RMB 35.1 million, prepayments and other current assets of RMB 34.2 million, fixed assets of RMB 49 million, long-term investments of RMB 140 million, goodwill of RMB 37.8 million, intangible assets of RMB 26 million. Total current liabilities were at RMB 227 million. Accounts payable at RMB 19.2 million. Deferred revenue at RMB 129.7 million. Accrued liabilities of RMB 78.2 million, and we repaid the short-term loan of RMB 150 million in April. Next onto business outlook. Although we are still facing uncertainty from the pandemic, going into Q3, we are seeing some exciting growth from our business lines, and our cost management initiative continue to produce positive results that I want to share with you. Based on the current information, we anticipate the Developer Services subscription services revenue of Q3 2022 to achieve close to double-digit growth both quarter-over-quarter and year-over-year. For Vertical Applications revenue, we are also expecting solid quarter-over-quarter growth. For Value-Added Services, which we have mentioned earlier, the overall market will take time to stabilize before revenue can return to historical level. With the anticipated growth in revenue and conscious cost spending, barring any unforeseen events, we are looking to achieve a break-even adjusted EBITDA balance for Q4 of 2022. Please note that the above outlook is based on the current market condition and reflects the company's current and preliminary estimate of the market and operating conditions and customer demand, which are all subject to change. Lastly, before I conclude, I'll give a quick update on the share repurchase plan. In the quarter ended June 30th, 2022, we did not repurchase any shares. As of June 30th, 2022, cumulatively, we have repurchased a total of 9-1,000 ADS since the start of our program. This concludes the management's prepared remarks. We're happy to take the question now. Thank you. Ladies and gentlemen, we will now begin the question-and-answer session. To ask a question, you need to press star one one on your telephone. Please stand by while we compile the question-and-answer roster. Once again, that's star one one for question. Our first question comes from the line of Brian Kinstlinger from Alliance Global Partners. Please ask your question, Brian. Great. Thanks for taking my question. First, can you talk about on the subscription side with the lockdowns, if you've been able to deliver and get renewals for agreement signed? I see you've increased sequentially subscription revenue, but still below the fourth quarter. I'm curious, an update on that, and maybe talk about churn and how that's, you know, changed given the market conditions. Yes, Brian, it is Shannon. If you compare to Q4, we did have a few of the private cloud projects that we completed. In comparison, the Q2 numbers was a bit low. But having said that, the lockdown has lesser impact on subscription business because majority of them are renewal, and renewal contract might not have the impact resulted from the logistical obstacle that we talked about earlier on, that we are not able to deliver the contracts. For subscription business, we think we are on the right track. Based on the numbers, it did show it that way. We feel fairly comfortable with the subscription business at this stage. You're still not able to deliver them. Is that what you're saying? I know you said that last quarter or you are able to deliver. Yeah. those agreements. Yes, we are for subscription business. That's why the revenue shown up a year-over-year and quarter-over-quarter growth. Okay. Then I guess what I'm a little bit confused on is that, the market conditions are still challenged, from an economic standpoint, and we hear from a COVID standpoint a little bit too in China, obviously. Talk about what the drivers to growth are. You mentioned a couple of double-digit growth sequentially. You know, how have you been able to do that? Talk about from a demand perspective, given those conditions, you know, how it's changed. Yeah. I think you can feel. There are two ways to look at this. If you look at the Value-Added Services or the Financial Risk Management, those are more closely tied with the overall economy. If you look at the ad spending, I'm sure you have read like Tencent, you have everybody else in China facing the problem that advertisers are not spending as they used to be. This is very much tied to the economy. On the other hand, if you look at the subs business, they are less impacted by business because the fact that economy is slowing down, you're unlikely to spend less on push. Those are less resilient to the impact of the economy. That's why we are trying to say this, we still see good growth coming from the sub business because it's less impacted by the economy. Got it. Okay. Maybe touch on SendCloud. What was its contribution in the quarter? Which of your business segments is that reported in, and how has that been performing in the current conditions? It is reported that revenue is under subscription business, so it's under subscription, and it's contributing about RMB 5 -RMB 6 million per quarter. The numbers are growing, I guess, for the fact that we are able to cross-sell some of our customers to buy their business. That's for to buy their services. Secondly, as we have mentioned, our overseas email delivery has surpassed China, so there's a huge demand for their services, for SendCloud services. They are doing pretty well. Yes. Lastly, good job with the operating expenses. Is this about the level of expenses we should see going forward? Will we see further declines as maybe some of them were done mid-quarter? How should we think about OpEx going forward? I think we are pretty much at that level. I do not foresee any spike going forward. If anything, they will be maintained at that level or lower. Okay. All right. Thank you. Great. Thank you. Our next question comes from the line of Calvin Wong from Spica Capital. Please ask your question, Calvin. Good evening. Thank you for taking my question. I have one question. I noticed that since last earnings call, the company has taken a number of actions on going global, such as, you say, releasing the overseas messaging cloud and establish cooperation with WhatsApp. Can the management share more on the company's overseas strategy and maybe give us some highlights in the company's overseas business development overall? Sure. Thanks for your question. You're right, we have been taking steps to expand our overseas business during Q2. If you look at it, since the beginning of June, we have released our Overseas Messaging Cloud Solution to serve Chinese enterprise international expansion. There are a couple of things that we are doing right now. In beginning of June, we have released our Overseas Messaging Cloud Solution to serve Chinese enterprise international expansion. This is one of the growth driver for majority of the Chinese company these days. By integrating our multiple messaging products such as JPush, SMS, email, UMS and other messaging product, our Overseas Messaging Cloud Solution focuses on the integration and management of multiple channels. Therefore, the user, they will be able to use our product more efficiently. Our overseas channel solution has also already integrated the platforms such as WhatsApp that Chris talked about earlier on. With that, we are looking to incorporate the others such as Facebook Messenger or TikTok going forward. With this, we are helping the Chinese enterprise who seek international expansion to build closer and more efficient connection with their users overseas. This company is taking overseas expansion face very different market conditions and evolving data compliance, network environment, and software ecosystem. Therefore, I think we are in the right space to help them to expand overseas. Through that, we are able to seize the opportunity to have our overseas growth revenue too. That's my response to your question. Okay. Very clear. Thanks. Thank you. As a reminder, to ask a question, please press star one one on your telephone. Thank you. There are no further questions. I'll now turn the conference back to Rene for closing remarks. Thank you, Amber. Thank you everyone for joining our call tonight. If you have any further questions or comments, please don't hesitate to reach out to the IR team. This concludes the call. Have a good night. Thank you very much. Thank you. This concludes today's conference call. Thank you for participating. You may now disconnect.