OneSmart International Education Group Limited (NASDAQ:ONE) Q2 2020 Earnings Conference Call - Final Transcript
May 19, 2020 • 08:00 am ET
Good day and good evening, and welcome to the OneSmart International Education Group Limited Announces Unaudited Financial Results for the Second Fiscal Quarter Ended February 29, 2020 Conference Call. [Operator Instructions]
I would now like to turn the conference over to Rebecca Shen, Investor Relations Director. Please go ahead.
Thank you, operator.
Good morning and good evening, everyone, and thank you for joining OneSmart International Education Group Limited second fiscal quarter 2020 earnings conference call. The Company's earnings results as well as supplementary slide presentation were released earlier today and are available on the Company's IR website at www.onesmart.investorroom.com.
Joining me today are Mr. Steve Zhang, Chairman and CEO; Mr. Greg Zuo, our CSO and CFO; and Ms. Helen Pang [Phonetic], head of Operations.
I'll 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 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 statements as a result of new information, future events or otherwise, except as required under law.
With that, I will now turn the call over to Steve. Please go ahead.
Thank you, Rebecca, and thank you, all, for your interest in today's earnings presentation.
What we have achieved in the most challenging business environment in modern history demonstrates the adaptability and the resilience of OneSmart's business model and employees. Our years' investments and technology development in online space enables us to respond promptly to the unprecedented COVID-19 situation.
Our online platform has been serving over 160,000 student enrollments as of February 2020, a massive increase from just a few thousands in late 2019. The speed and volume proves the Company's strong ability to strategically manage and operate a premium online business and demonstrates its determination to build OneSmart Online into the largest premium online education company in China. While we expect our financial performance to be temporarily impacted for a couple of quarters by the pandemic, we believe it will bounce back fairly quickly as the schools reopen and the demand for premium education services prevails.
Going forward, we will benefit from OneSmart Online to penetrate the mid to high end K-12 education market in China, in both scalability and profitability, as it's helping us expand in a much larger addressable market. We see enormous growth potential ahead and will take advantage of opportunities that arise as the industry consolidates after the pandemic.
I will now turn the call over to Greg who will provide