Leju Holdings Ltd (NASDAQ:LEJU) Q3 2020 Earnings Conference Call - Final Transcript

Nov 23, 2020 • 06:00 am ET


Leju Holdings Ltd (NASDAQ:LEJU) Q3 2020 Earnings Conference Call - Final Transcript


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Hello and thank you for standing by, for Leju Third Quarter 2020 Earnings Conference Call. [Operator Instructions]

I would now like to turn the meeting over to your host for today's conference, Ms. Michelle Yuan, Leju's Deputy CFO. Thank you. Please go ahead ma'am.

Michelle Yuan

Hello, everyone, and welcome to Leju's third quarter 2020 earnings conference call. Today, we will update you regarding our financial results for third quarter ended September 30, 2020. If you would like a copy of the earnings press release or would like to sign up for our email distribution list, please go to our IR website at ir.leju.com.

Leading the call today is Mr. Geoffrey He, our CEO, who will review operational highlights for the third quarter 2020; Mr. Li-Lan Cheng, our Acting CFO, will then discuss the financial results in more detail. We will then open the call to questions.

Before we continue, please allow me to read you Leju's Safe Harbor statement. Some of the statements during this conference call are forward-looking statements made under the Safe Harbor provisions of Section 21E of the Securities Exchange Act of 1934 as amended. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations.

Potential risks and uncertainties include, but are not limited to those outlined in our public filings with the SEC. You are encouraged to review the forward-looking statements section of our annual report filed with the SEC for additional information concerning factors that could cause those differences. Leju does not undertake any obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise, except, as required by applicable law.

Our earnings press release and this call include discussions of unaudited GAAP financial information as well as some unaudited non-GAAP financial measures. Our press release contains a reconciliation of the unaudited non-GAAP measures to the unaudited most directly comparable GAAP measures.

Please note that unless otherwise stated, all figures mentioned during this conference call are in U.S. dollars.

I will now turn the call over to Leju's CEO, Geoffrey He. Please go ahead.

Yinyu He

Thanks everyone for joining us on today's call. We maintained a strong momentum for our business development in the third quarter and realized healthy growth in our both advertising and e-commerce business. We continued to promote our digital marketing capabilities in the third quarter and our online marketing promotions were well received throughout the industry. Also we saw that innovations we've implemented in our online advertising business have been a strong match for the new wave of online marketing needs, we see emerged recently. In addition, we further developed an innovative tools towards our online transaction platform, which also benefits the long-term growth of our e-commerce business.

Following up on our 618 Festival in June, during the third quarter, we once again successfully held our Suning & Leju 818 Summer Storm sale. These two activities deepened our partnership with Suning and involved more than 100 brands