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Ladies and gentlemen, standing by. At this time, all participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. Operator Instructions Reading small boats 2019 weibo must advise you that this conference is being recorded today, Thursday, 23rd of May I'd like to hand the conference over to the first speaker today, Mr.

Sandra Zhang. Thank you. Please go ahead. Thank you, operator. Welcome to Weibo's first quarter earnings conference. This conference call is also being broadcast on the Internet and it's available available through Weibo's IR website.

Before management remarks, I would like to read you the Safe Harbor statement in connection with today's conference. During today's call, we may make forward-looking statements, statements that reading small boats 2019 weibo not historical facts, including statements Technical Difficulty Hello Foreign Language including statements of our beliefs and expectations. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement.

Weibo assumes no obligation to update the forward-looking statements in this call and elsewhere, further information regarding these and other risks, is included Weibo's Annual Report on Form F and other filings with the SEC. All the information provided in this press release is occurring as of the date hereof. Weibo assumes no obligation to update such information, except as required and for the applicable law.

Additionally, I'd like to remind you that our discussion today includes certain non-GAAP measures, which excludes stock-based compensation and certain other expenses.

We use non-GAAP financial measures to gain a better understanding of Weibo's comparative operating results and the future prospects. Our non-GAAP financial excludes certain expenses, gains or losses and other items that are now expected to result in future cash payments or that are non-recurring in nature will not be indicative of our core operating results and outlook.

Please refer to our press release for more information about our non-GAAP measures. Foreign Language Thank you. Foreign Language On today's call, I'll share with you highlights of Weibo's user growth, product and the monetization, as well as progress we made on key initiatives in Foreign Language Let me start with our reading small boats 2019 weibo quarter financial results.

We continue to reading small boats 2019 weibo solid growth in revenues and user base this quarter. During the Chinese New Year, we delivered solid user growth and improved user engagements through Reading Small Boats 2019 Video innovative grant ph advent of marketing and holiday specific branding campaigns.

On the monetization front, KA business continues its momentum thanks to sales team's reading small boats 2019 weibo and our ongoing ad product optimization and innovation. SME business is also exhibiting some positive signs with progress made in customer structure to leave them and add product optimization.

Foreign Language In discussing, our operating outlook for reading small boats 2019 weibo first quarter, I'll cover the areas of users content and the customers of Weibo. Foreign Language Let's start from user growth and user engagement. We have two areas of focus this year. First, our user growth will strive to ramp up our use scale in the third and fourth tier cities to further use the product reading small boats 2019 weibo and the channel investments.

From a channel perspective, we continue to partner with major domestic smartphone manufacturers for user acquisition. From a product perspective, we will continue the enhance the location-based content consumption and creation experience to meet the specific content and social interaction demands of low tier city users.

Inwe'll further drive users engagement constant growth by boosting content consumption and a social interaction of the lower tier cities user underpinned by our step up effort increasing location based social and content consumption context. Weibo will further penetrate into lower tier cities, leveraging our core strengths in social attributes and trend discovery coupled with our effective channel investments.

Foreign Language On user engagement, our emphasis this year is to increase frequency of usage by each Weibo user. To achieve this purpose, our first area of focus is to drive content generation and user engagement to strengthening our cooperation with partner in public sectors including media all at TV stations and sports events and also launching brand campaigns to integrate vertical resources and future participation of top content creators combined with the efforts to diverse user interactive functionalities.

For example, during the Chinese New Year this year, we focus on aggregation of video content and innovation of online interactive activities to enhance user engagement leveraging our collaboration with CCTV's Chinese New Year Gala. As a result, we are encouraged to see higher usage of Weibo in such contexts with feeds posted passing million facilitating over million social interactions and over 5 billion short video views.

These three measures are growing at double digit percentage year-over-year. We also organized a hashtag, the Chinese New Year for the top of the context in concert with CCTV News encouraging users to capture the moments in their life to the swing festival in forms of pictures and videos. June the 20 date contacts over 10 million related photos and video contests were generated a label with nearly quality for top photographic work, so like to be shown on CCTV programs.

The topic of the context was viewed over 10 billion times, a week during that period. Our second area of focus is to further enhance the social attributes of our user products and improve social interaction among users.

For instance, we have established a social interaction arena inaudible based on super topic community and fans group function in the past two years. User penetration and user engagement generated through these two functions grew nicely year-over-year with user interaction within super topic community, the number of daily average users to access fans group and their daily average user all delivering double digit growth year-over-year in March We believe our set up investing in the social attributes of our user product will play a critical role in growing our user base, improving user engagement and particularly enhancing Weibo users content consumption frequency.

Specifically, common consumption information feed grew very robustly in Our emphasis on social attributes of our user products could Hampton Small Boats 2019 10 enhance the competitive advantage of our products, amid intense competition in reading small boats 2019 weibo industry. Building a solid foundation for further user base expansion and elevate monetization efficiency underpinned by user frequency improvement on the platform. Foreign Language Next on accountants.

Let's start with content consumption for the relationship based of fees. We further enhance content distribution capability based on social relationships leading to high efficiency in social content consumption and improve the user engagement.

In the first quarter, the average refreshment per user for the relationship based feed further reading small boats 2019 weibo year-over-year. For the interest base fees, we continue to optimize algorithm backing the feeds.

On the one hand, the refined algorithm enhance exposure of contents from Hot Search, trend and topic in interest-based feeds leveraging stronger synergies within these two -- these products. Subsequently in March both users feel an massive refreshment of interest based fees continue to grow from the same period last year. Weibo still holds distinct leadership in the area of top content creators with number of upcoming creator they report the views generated in March or maintaining double digit growth year-over-year.

The robust growth of PGC video content generation was mainly attributable to the below two factors. First, benefiting from the rich expression offshore videos, we saw an increasing adoption of video format among top content creators.

For example, VLOG ph which caught on last year offers content creator a better experience to express their personalities to capture daily life moments in a video format, compared with photo and reading small boats 2019 weibo, video format offer content creator a more vivid and immersive experience to interact with fans.

Foreign Language Second, Weibo video community enable us to derive massive target user topic to high-quality reading small boats 2019 weibo content creators. In a first quarter, we proactively invited content creator to generate quantity video content or single out quarterly video contribution and then offered heavy traffic support through these video contents in interest-based feeds.

We saw many growth in average video views of those videos being selected. Over the next two quarters, we will further strengthen traffic support mechanism to selected quantity video content from two aspects. First, we distribute this quality video content through notable Reading Small Boats 2019 94 feeds to ensure and enhance the content exposure.

Second, we will more precisely distribute those video content to target users with different interest through various vertical channels within the video community, which further promoted content exposure while solidify the new things for video content consumption on Weibo. We are encouraged to see that the average daily time spent per user for those who access the video community tab more than doubled compared with that for those who didn't.

This year, we'll establish an operating mechanism for video content generators to further development of the video community, which will fortify Weibo's competitive edge in the PDC content area. Foreign Language This year, we'll continue to execute against our vertical reading small boats 2019 weibo strategy with a special focus on building our ecosystem around top verticals and empowering KOLs to uplift their fans engagement and thus better monetize within our ecosystem.

Through years of investment, Weibo have well established the monetization ecosystem for content creators to monetize through advertising, e-commerce, live streaming and a paid subscription et cetera. This year, we'll facilitate more top content creators to benefit from the ecosystem, further reinforcing the platform ecosystem around the content, influence and monetization.

Moreover, for the mid-tier and long-term verticals, we'll focus on expanding the scale of top content creators and uplifting their influence.

Take aviation and collection verticals as examples. In the first quarter, the two verticals ran among top five out of the 60 verticals by year-over-year growth in the scale of top content creators and and amounts viewed. In particular, the collection vertical was the most rapid growing vertical with monthly viewership more than doubled year-over-year. We attributed the strong growth to multiple reasons.

First, in the past several years we benefited from the Leju ad partnership from offline to online for brand advertisers. Second, we've capitalized on the trend that an increasing number of branded customers decide to associate their campaigns with the blockbuster IP and also accurately measure their campaign results through data. Third, we pioneered that innovation in social marketing products and ad formats in a digital ad industry and showcase desired ROI to customers, with a series of successful cases.

For instance, we offer integrated social marketing solutions for customers to uplift their marketing performance that associating Weibo's ad inventory with our rich IP content resources such as celebrities, variety shows, TV programs and films. Take the marketing campaign of Yili, The National famous dairy group as an example, where Weibo worked closely with the TV program seen on to maximize the brand and marketing effect of Yili.

During the campaign, for the first time fans interaction on Weibo really impacted the competition rules of the TV program effectively transforming the contestants and their fans into Yili's endorsers. Weibo also proactively invited over 30 engrossed celebrities and over participants to generate of around posts, reading small boats 2019 weibo brought in 1.

In total, views on topic discussion around the program exceeded 20 billion. Foreign Language SME business, on the other hand, will continue to face intense competition across the feed at advertising market. First, top SME customers ad spend became more scattered across platform following a traffic search and adding inventory released into the market.

The oversupply of an inventory also caused pricing pressure in a bidding process across the industry. And meanwhile starting from the third quarter and fourth reading small boats 2019 weibo oflack of uncertainties and tightened financing environment also weighed on the growth of the entire SME end market. In response to these challenges, we took decisive steps to form a separate sales team to directly serve our top SME customers aiming to improve their ad performance.

We also enhance our capability to reading small boats 2019 weibo mid-tier and long-tier customers through adjustment to our sales agency structure. Overall our SME business reached a trough in March and April and started to recover in May with double digit sequential growth in daily ad spends. As this above initiative gradually play out, we estimate that our SME ad business will be covered in a more meaningful way in the latter half of Foreign Language On the ad product reading small boats 2019 weibo, we had made plenty of optimization as.

For example, we launched an automatically recommended targeting data package on inaudible system to meet customers industry specific targeting requirements. We saw double-digit growth in ECPM and ad engagement for the same customer upon the adoption of such package. We have also refined functionalities of vertical video ad products in terms of traffic direction and social interaction leading to double -- reading small boats 2019 Best Small Boats 2019 Essential Oil weibo the click-through rate and a reading small boats 2019 weibo sell reading small boats 2019 weibo rate as well as customers purchase intention.

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We encourage you to act quickly if you are planning to purchase a boat from us this season. We have been extraordinarily busy this winter and we anticipate that the boat packages that we do have in stock or on order will sell out before summer. Please keep in mind that wait times for new units have significantly increased in comparison to previous years. There is a much higher demand for new units as many people have forgone vacations and are choosing to buy boats and other recreational vehicles instead.

In addition to the high demand, most of our manufacturers were shut down for several months and this severely impacted their production timelines.

We will contact you as soon as your unit s arrive s and make arrangements for pickup. Please do not hesitate to contact us if you have questions or concerns. Reading Boat Works has served Berks County, Pennsylvania and the surrounding area at its present location since Our dealership and service center is minutes from Route in Bern Township near the Schuylkill River. Call us if you need directions!

Thank you for your patience and understanding! Entries will open at on Thursday 12 September , and will close at on Monday 7 October , or when the first fully paid entries for each division have been received. Crews should use the following guide to determine which category to enter:.

OPEN: Open to all, but predominantly aimed at experienced crews who are aiming to race at a high level. In the event of a category having more than 10 entries, it shall be split into two tiers of 5 or more crews according to the CRI points values of the entered crews.

For example: An Open M. Please contact events readingrc. Reading Small Boats Head Poster. Reading Small Boats Head Reading Small Boats Head Thank you to all those who entered and raced this year, and congratulations to those who won their categories.

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