Puyi Inc (NASDAQ:PUYI) Q4 2019 Earnings Conference Call - Final Transcript

Mar 26, 2020 • 09:00 pm ET


Puyi Inc (NASDAQ:PUYI) Q4 2019 Earnings Conference Call - Final Transcript


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Ren Yong

surpassing Wuhan City and has gradually spread in and outside China. It's hard to predict the duration and severity of the epidemic in Asia and the world. We believe that under the timely and effective control measures by the Chinese government, the epidemic was soon be controlled in China. However, we anticipate a recovery of China's economic will start at least after July 2020. The epidemic has a material impact on our business in the second half of the fiscal year 2020.

According to our analysts we expect that the net loss attributable to Puyi's shareholders will be ranging from RMB60 million to RMB70 million. And will be ranging from RMB80 million to RMB90 million in the full fiscal year 2020. For the second half of the fiscal year 2020, we will continue our product optimization strategy to focus on standard market-oriented products. In the meanwhile, we will continue to increase marketing and promotion activities, strengthen investor education, certified back office professional capabilities and increase resource allocation to expand our client base within the budget.

The number of mass affluent and emerging middle class population in China is very large and their investment demand were well preparation [Phonetic] and appreciation remains strong. We have and we'll continue to complete our past efforts to respond to all the challenges, including the reason COVID-19 outbreak. We see this epidemic as an opportunity for the company's transformation and development. We will strive to create opportunity for our business growth. We are confident in our long-term strategy and we believe in the Company's future. Thank you.

And that's all for the prepared remarks. Now, let's begin the Q&A section.