BlueCity Holdings Ltd (NASDAQ:BLCT) Q2 2020 Earnings Conference Call - Final Transcript

Aug 26, 2020 • 08:00 am ET


BlueCity Holdings Ltd (NASDAQ:BLCT) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the BlueCity's Second Quarter 2020 Earnings Conference Call. [Operator Instructions]

Now, I will turn the call over to Lingling Kong, Head of Investor Relations for the Company. Ms. Kong, please proceed.

Lingling Kong

Thank you, operator, and hello everyone. Welcome to BlueCity second quarter 2020 earnings conference call. Joining us today are Mr. Baoli Ma, Chief Executive Officer; and Mr. Ben Li, Chief Financial Officer. We release results earlier today. The press release is available on the Company's IR website at, as well as from Newswire services. A replay of this call will also be available in a few hours on our IR website.

Before we proceed, please note that this call may contain forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on Management's current expectations and observations that involve known and unknown risks, uncertainties and other factors not under the Company's control, which may cause actual results, performance or achievement of the Company to be materially different from the results, performance or expectations implied by these forward-looking statements. All forward-looking statements are expressly qualified in their entirety by the cautionary statements, risk factors and details of the Company's filings with the SEC. The Company does not assume any obligation to revise or update any forward-looking statements, as a result of new information, future events, changes in market conditions or otherwise, except as required by law.

During today's call, Management will also discuss certain non-GAAP financial risk measures for comparison purposes only. For definition of non-GAAP financial measures and a reconciliation of GAAP to non-GAAP financial results, please refer to our 2020 second quarter financial results new release. Also, please note that unless otherwise stated, all figures mentioned during the conference call are in Chinese renminbi.

With that, let me now turn the call over to our CEO, Mr. Baoli Ma. Mr. Ma, will deliver opening remarks in Chinese. I will then translate his remarks. Finally, our CFO, Mr. Ben Li, will take over to discuss our business and financial highlights.

Mr. Ma, please go ahead.

Baoli Ma

[Foreign Speech] Hello everyone, thank you for joining our second quarter 202 earnings conference call today. We are thrilled to host our first call as a public-traded company, Our successful IPO was a significant milestone in our long journey, illustrates raising capital for growth and significantly increase our visibility. We are one of the world's leading providers of online services to the LGBTQ community, a huge market, according to Frost & Sullivan in 2018, over 415 million people worldwide, self identified as LGBTQ. We are delicately providing comprehensive lifetime services that satisfy the needs of our members.

Our product and services include location-based social networking services to create a safe online community. AI-based live streaming services to make more personalized recommendations to member with interactive features. Health-related consulting services and products that keep our members informed and healthy. Family planning