9F Inc. (NASDAQ:JFU) Q2 2019 Earnings Conference Call - Final Transcript
Sep 27, 2019 • 08:00 am ET
Ladies and gentlemen, thank you for standing by and welcome to 9F Inc., Second Quarter of 2019 Earnings Conference call. [Operator Instructions]
I will now like to hand the conference over to your first speaker for today, Mr. Vinay Angus Payne [Phonetic], Please go ahead, sir.
Vinay Angus Payne
Thank you, Anne. Hello, everyone, and thank you for joining us today for 9F's second quarter 2019 earnings conference call. The Company's results were released earlier today and are available on the Company's IR website. On the call today from 9F are Mr. Lei Sun ,Chairman and Chief Executive Officer, Mr. Yanjun Lin, Chief Financial Officer. Mr. Sun will review business operations and Company highlights, followed by Mr. Lin, who will discuss financials.
Before we begin, I would like to remind you that this call may contain forward-looking statements made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and current market regulatory and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which 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 is included in the Company's filings with the US 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 law.
I will now pass the call over to Mr. Sun. Mr. Sun, please go ahead.
Hello everyone and thank you for joining our first earnings call as a public company. Our listing on Nasdaq in August was a significant milestone in our corporate history. Over the past 13 years, we have developed strong relationships with our borrowers, investors, merchants and the financial institution partners, something that we are committed to replicating with our new shareholders.
The market remained challenging during that second quarter as uncertain regulatory environment continues to hang over the online lending industry, and it is not clear where it is all headed. We have been working to evolve our business to ensure long term sustainable growth regardless of what regulatory environment finally emerges.
In early 2019, we rolled out our Tech Enablement Strategy, which has also made us a provider of advanced technologies for marketing and credit decision, and pricing and anti-fraud to financial institutions, and merchant partners across our one-stop digital finance account platform going forward.
With over 13 years of fintech operating history, we already have the experience and cutting-edge technology needed to effectively deliver many of these services. This new business will operate alongside our online lending business and will help us move to more of a capital light business model, reduce regulatory risk and maintain a strong cash position and provide greater scalability over the long-term.
Evolving our business this