Good morning and thank you for standing by for Xunlei's Second Quarter of 2018 Earnings Conference Call. At this time, all participants are in listen-only mode. After management's presentation, there will be a question-and-answer session. Today's conference call is being recorded. I would now like to turn the call over to your host for today, Charlene Lu, IR Manager of Xunlei. Thank you. Please go ahead.

Thank you. Good morning and good evening. Welcome to Xunlei's second quarter of 2018's earnings call. I'm Charlene Lu, Investor Relations Manager at Xunlei. With me today on the call are Mr. Lei Chen, our CEO and Mr. Eric Zhou our CFO. Today's conference call is being recorded and a replay of the call will be available on our IR website following the call. Our earnings press release was distributed earlier today and now is also available on our website. Before we get started, please note that the discussion today will contain certain forward-looking statements made under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to the risks and uncertainties that may cause actual results to differ materially from our current expectations. Please refer to our SEC filings for a more detailed description of the risk factors that may affect our results. We do not assume any obligations to update any forward-looking statements, except as required under applicable laws. During this call, we will refer to both GAAP and non-GAAP financial measures, and the non-GAAP measures are reconciled to the comparable GAAP measures in the table attached to our earnings press release, which can also be found on our website. Please note that all numbers are in US dollars unless otherwise stated. I will now turn the call over to our CEO, Mr. Lei Chen.

Good morning and good evening everyone. Thank you all for joining our second quarter of 2018 earnings conference call today. I am pleased to report another quarter of progress and achievements. It will be the quarterly guidance and achieved US$65.8 million in revenue in the second quarter of 2018. And this was a growth of 70.7% on a year-over-year basis. The better than expected growth in revenue was primarily driven by increasing demands for our cloud computing, live streaming and the mobile advertising products. Today, I will start with how our shared computing is enabling as to advance the mission of empowering individuals through technological innovation. Then I’ll talk about our growing blockchain ecosystem and how it will shape the future of our cloud computing business in new ways. And finally, I will share with you some updates on our major business segments. Let’s begin with how our shared computing is helping realize our mission. As we highlighted last quarter, in as early as 2015, we initiated shared cloud computing solutions as we saw significant growth opportunities with the emergence of Internet of Things, AR, AI and Big Data. We transform the users' idle bandwidth and storage to offer cloud computing services to our enterprise customers. With our shared computing model, we help our customers to reduce costs and improve performance. Lately, we have seen the trend of similar and relevant technologies such as Edge Computing and Serverless PaaS sprouting out from different technology thinkers and evangelists. We believe this trend will continue for a couple of reasons. First, IoT becomes more important and starts to fundamentally change the way we live and conduct business. This leads to a variety of applications where such technologies provide better solutions. And secondly, the demand for bandwidth, storage and computing power grows rapidly…

Thank you, Lei. Hello everyone, and once again thank you for joining Xunlei’s second quarter of 2018 conference call. And now, I’d like to go through the details of our financial results. Our total revenues were US$65.8 million, which exceeded our high-end guidance and representing an increase of approximately 70.7% as compared with the same period last year. The increase in total revenues was mainly attributable to the growth of cloud computing, live streaming, and mobile advertising business. Revenues from cloud computing and internet value-added services were US$36.5 million, representing an increase of 186.9% on a year-over-year basis. Cloud computing revenues grew by 183.5% on a year-over-year basis. Revenues from subscriptions were US$21.1 million, representing an increase of 2.5% on a year-over-year basis. The year-over-year increase in subscription revenue was primarily attributable to increase in average revenue per subscriber. The average revenue per subscriber for the second quarter of 2018 was RMB 37, an increase from RMB 34.4, for the same period last year. The number of subscribers was 3.69 million as of June 30, 2018, decreased from 4.09 million as of June 30, 2017. The Company continues to transform from a traditional internet company to one with growth drivers coming from innovation and investments in cloud computing and a blockchain related products and services. Revenues from online advertising were US$8.2 million, representing an increase of 57.2% on a year-over-year basis, mainly due to increased demand for our mobile advertising business, during mid-year campaigns. Cost of revenues was US$30.7 million, representing 46.7% of our total revenues. The increased amount of the cost of revenues was mainly due to increased OneThing Cloud hardware costs and partially offset by reduced bandwidth costs. Bandwidth costs in the second quarter of 2018 were US$ 12.1 million, representing 18.4% of total revenues, compared with US$18.8…

Ladies and gentlemen, we will now begin the question-and-answer session. [Operator Instructions] There are no further questions at this time, please continue sir.

If there is no questions, should we just stop the call?

Shall we wait for few more minutes or just end the call? Operator, can you check again?

If there is no questions, I think, we -- let’s just close the call then.

Okay. With that I will now turn the call over to -- I'm sorry, operator, let's just end the call. And everybody, thanks again for your attention and joining this call. Bye.

Thank you. Bye-bye.

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