YY Inc. (NASDAQ:YY) Q1 2019 Earnings Conference Call Transcript

May 29, 2019 • 09:00 am ET

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YY Inc. (NASDAQ:YY) Q1 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by and welcome to YY's Incorporated First Quarter 2019 Earnings Call. At this time, all participants are in a listen-only mode. After the management's prepared remarks, we will have a question-and-answer session. Please note, this event is being recorded.

I would now like to hand the conference over to your speaker host today, Mr. Matthew Zhao, IR Director of YY. Thank you, sir. Please go ahead.

Executive
Matthew Huaxia Zhao

Thank you, operator. Good morning and good evening everyone. Welcome to YY's first quarter of 2019 earnings conference call. Joining us today are Mr. David Xueling Li, Chairman and CEO of YY; Mr. Bing Jin, CFO of YY; and Ms. Ting Li, COO of YY. For today's call, management will first provide a review of the quarter. And then we will conduct a Q&A session. The first quarter of 2019 financial results and webcast of this conference call are available at ir.yy.com. A replay of this call will also be available on our website in a few hours.

Before we continue, I refer you to our Safe Harbor statement in our earnings press release, which applies to this call as we will make forward-looking statements. Finally, please know that, unless otherwise stated all figures mentioned during this conference call are in renminbi.

I will now turn the call over to our Chairman and CEO, Mr. David Xueling Li. Please go ahead, sir.

Executive
David Xueling Li

(foreign language)

Executive
Bing Jin

Thank you, Matthew. Hello, everyone. Welcome to our earnings conference call for the first quarter. Before we start with this quarter's performance, I should mention as some of you may have already noticed that I've been recently appointed as the CEO of YY by our Board. After almost two years as the Company's Acting CEO, I'm very excited and honored to lead the new YY Group, which consist of our YY, Huya and Bigo business.

Executive
David Xueling Li

(foreign language)

Executive
Bing Jin

After the completion of the Bigo acquisition, YY has become a global social media platform, with over 400 million in global, video and live streaming average mobile MAUs in the first quarter of 2019. Among these MAUs, more than 75% income market outside of China, which demonstrates the progress that we have achieved in our globalization strategy so far. Additionally, the composition of our user base is very diverse. Of our over 400 million average MAUs, 192.4 million come from our short-form video and live streaming services. This large proportion of users has enabled us to strengthen our leadership in both short-form video and live streaming success around the world.

In addition, 211.8 million MAUs came from IMO, a global video communication application. Going forward with a global strategy and focus on AI technology, we are confident in our ability to bring YY Group into a new stage and solidify our position at a global video based social media platform.

Executive
David Xueling Li

(foreign language)

Executive
Bing Jin

(technical difficulty) 2019 with a strong first quarter results. Upon completion of the acquisition of Bigo on March the 4th 2019, we began to consolidate