Charles Eveslage - Investor Relations Eric He - Chief Financial Officer

Good day, everyone, and welcome to YY’s Fourth Quarter and Full-Year 2015 Earnings Conference Call. At this time, all participants are in a listen-only mode. At this point, I would like to turn the call to Charles Eveslage from ICR. Thank you. Please go ahead.

Thank you, operator. Welcome to YY’s fourth quarter and full-year 2015 earnings conference call. With me today is, Mr. Eric He, CFO. I would also like to mention that due to the pending ongoing – going-private transaction, we will not be hosting a Q&A session at the end of the call. Before we begin, I refer you to the Safe Harbor statement in our earnings release which also applies to our conference call today as we will make forward-looking statements. I’ll now turn the call over to the CFO, Mr. Eric He.

Thank you, Charles. Hello, everyone. Welcome to our earnings call. In the fourth quarter, we continue to see strong top line growth with our net revenue increasing by 62% year-over-year to RMB1.6 billion, primarily reflecting the growth momentum across our core business line, namely online music and entertainment, online dating, and Huya broadcasting. Furthermore, we were able to increase our quarterly paying user by 30% year-over-year to 3.2 million in the fourth quarter of 2015. As expected, revenue growth was partially offset by the lackluster performance of our online games segments, due to continued industry-wide softness. In our core online music and entertainment segments, top line growth continued with revenue increasing by 69% to RMB1.14 billion. At the same time, paying user further increased by 45% year-over-year to 2.2 million and ARPU increased 17% year-over-year to RMB531. Furthermore on mobile front, revenue in our – in this segment increased 4.5 times year-over-year to RMB527 million, which represents 45% of total revenue, up from only 14% a year ago. Mobile ARPU in the segment increased by 139% year-over-year to RMB388 and mobile paying users increased 131% year-over-year to 1.4 million. We view the buildup of our mobile offerings as a crucial long-term investments. One that may bring down our overall ARPU in a short-term, but will eventually rebound and contribute ARPU growth, as mobile user continue to grow strongly. Turning to our online dating business, we witnessed revenue growth by an impressive 102% year-over-year to RMB189 million. The online – the ongoing strong growth was primarily fueled by a 109% year-over-year increase in ARPU to RMB837 in the fourth quarter of 2015, partially driven by contribution from the 2015 YY Online Dating Annual Event Competition, which was held for the first time in December 2015. We expect the growth of our…

Ladies and gentlemen, that does conclude our conference for today. Thank you for participating. You may all disconnect.