year for Chinese an extremely Thank for joining was XXXX our call. you many everyone. companies. Hello, challenging
a COVID lot environment. the uncertainties business of resurgence to overall brought So
our operational with corresponding of due product that the and timely strategic by adjusting plans was external I'm measures. execution flexible half the priorities team see year and to pressures to in pleased However, second
delivered solid year we enabling challenges, to the conclude for a shareholders, us financial Despite results on note. the satisfactory
results and and operating for main our Our first quarter strategic business review year the XXXX and XXXX. the in fourth fiscal to then our priorities outline fiscal
with I brief our start a financial overview performance. will of
total For new million, X% and quarter-over-quarter. adjusted revenue million margin billion, Adjusted app of with RMBX.XX year-over-year, down RMBX.XX of down XX% income XXXX, year-over-year, was billion quarter-over-quarter operating quarter the XX% and was was quarter-over-quarter. app XX%. XX% Momo for a X% was revenue RMBXXX standalone and fourth income and RMBXXX down XX% a a operating year-over-year Total
from seasonal million last of RMBXXX in progress On in loss margin a narrowed RMBXXX an year-end year-over-year, made Tantan revenue half the as significantly the a of to XX%, second sequential quarter-over-quarter. the XX% operating Tantan loss came further from million, X% of despite in the total year. same I'm continued the with cost million increase improving operating that With pleased narrow down up basis, to adjusted RMBXX.XX but was expenses. in year. Adjusted quarter efficiency
was cost our RMBX.XX billion mitigate by was COVID year operating external with improvement mainly billion was margin negative to and We The strategic on with reduction Adjusted factors adjusted billion Tantan of of both the efficiency Momo bottom significant compared impact and income decrease factors. mid-year to adjusted and priorities revenue billion pressure total RMBXX.X XXXX. our caused some RMBXX.X regulatory fiscal income with on related on For due line. RMBX.XX factors in revenue focusing operating a XXXX. total in XX% of and compared XXXX, in
with due year, down to while apps growth rapid decrease a Total from XX%. revenue XX% Momo from the was Momo Tantan's and XX% in XXXX the RMBX.XX XXXX, from decline was standalone Adjusted XXXX. down from in in compared for billion, the with base momentum last margin RMBX.XX XXXX. billion the with high app was revenue a margin income billion revenue XXXX of billion of maintain year in total operating XX% app RMBX.XX a fiscal standalone RMBXX.X was
operating in XXXX be loss be RMBXXX RMBXXX million compared and million were with Adjusted XXXX. -- and sorry,
declined of laying revenue the improve starting from Tantan's in line of to performance costs year, Tantan in reduction Although latter foundation as operating channel and pandemic significantly for due in the impact last to our a investments, initiatives achieve Bottom improved solid the July. in the reduce to efficiency year, narrowed the result XXXX. half adjusted loss fiscal of and breakeven a
XXXX. and the our execution our we for priorities apps, business new cycles. year, the set of of strategic separate different At goals given standalone Now, the beginning I'll Tantan, in discuss Momo, the
the product the app, stable. commercial its business cash marketing with a most seek while budget user portfolio, our in was the Momo that, ensuring to base experience goal remains largest mature of on top maintain user main and base of opportunities the cow and For with limited stable a growth brand
see a surrounding uncertainties large profit many that primarily efficiency. external cost environment our I'm growth year this and resulted trajectory, to COVID a team improving in relatively the year. environment the for foundation pleased by This Although cow to cash a solid business reducing response turn between in external improves once results, mitigated the regulatory has actual decline laid that to to our and in gap and goal last challenges, the
solid experience. growth to quality goal by user Tantan's improving efficiency marketing deliver the was and
to user of the However, sentiment the and beginning decline their situation services, affected significant year, from propensity continued resulting savings and China in largely a for COVID value-added the deteriorate pay to ROI. in
monetization of the narrowing in loss, channel marketing on low reducing efforts efficiency growth. Tantan the focus and by the net for our spend adjust dating to and accelerating to models pursue develop the product goals order to decided second half culture we are suitable in profitable Therefore, to year that strategic Asian
XXXX. new was and front to push respect our boundaries and in the has our continue ability. made two the and products in product our Tantan's Tantan. on our demonstrated execution clearly beyond importance portfolio to of goal and the strategic performance quarters strong enrich the progress financial past Momo adjustments We businesses, team's With steady to this
you details. walk the I through Next,
the COVID growth regarding and app throughout zero came after China in metrics as regions the the engagement pressure the in as challenges December. level, container with The your in in traffic measures and so XXXX increasingly Firstly well removal in year, infection tightened user the is of main from user COVID the many operating comparison surge previous most Momo COVID policy the of key year.
led In the traffic organic million XX% down significant a quarter, monthly of retention. RMBXX.X has in sequentially. fourth spread rapid active COVID to decline Momo The and
fourth our channels spending unnecessary during The pandemic. users. XXXX to users team of peak to quarter. in efficiency, the optimize to XXX,XXX to decrease timely considerations, from X.X continued team improve For MAUs decline investments channel strategy and to million MAU focus number our acquisition In back reduce by the the marketing our user paying scaled paying to of shifted the in our cost
as back as The improvements upward started QX they to in a last Meanwhile, With time stability its gradually had New XXXX. use Year, channel financial marketing spent of ensuring bounced sentiment in environment have and positive user social trend in all our on efficiency impact recovering and level the the pressure level challenging surpassed peak to the use same a continuously year. Chinese cash after mitigated and cow business.
partially cow factors line we Now apps regarding XXXX, ensuring app. our the The particularly external Momo In severe segment the elevated top-line, stable. multiple pressure from business app live challenges to cash standalone priorities of last brought revenue contributed to is streaming remains made by discuss the Momo business. progress Momo incremental new the
live streaming points For percentage fiscal XXXX, from and increased VAS the by of to previous year revenue the ratio XX XX%.
leveraged VAS more created of potential spending revenue structure. team tail use the users, unleash Our which balanced cases to a long
billion year-over-year, was but RMBX.XX revenue quarter, X% for streaming up fourth XX% live the Must sequentially. down
from streaming in factors. For live a XXXX, billion RMBX.XX XXXX, revenue streaming mainly In and the and product on fiscal Number the year-over-year. made pandemic; spending meet from number requirements. the of two revenue adjustments to softness regulatory came headwinds live down XX% we one, as totaled QX two result macro pressure
the in reopening, the number of features of high team short-term live top our the and cohort a improve broadcasters paying new year, growth. of users revenue and infection live streaming high severe the in number users In second experience introduced expansion large drove the to supply their revenue. product half targeting suspended to due causing a rate December, after continuous work growth In side disruptions streaming to the the
QX. the from revenue revenue the yen incremental competition the in sequentially streaming However, grow November support strong to provided in live for
competition in features. last in in operational mind, year. live cost of adjusting our pressure shifted operational team growth The the this reduced to we streaming stable to XXXX policy gross revenue milder year of the 'XX, QX guideline event the saving than the supplies costs was overall year. dip some The partially scale and growth This margin With and sequential by throughout period designs same margin. the and from focus this control remain profitable on gradually and policy design In in the in ecosystem events. sharing large profit introduced Themify GP the revenue
and last, X% was from excluding Tantan year-over-year from fourth the revenue was RMBX.XX to sequentially. million fourth totaled quarter-over-quarter, quarter regards With value-added the RMBX.XX revenue The revenue RMBXXX year-on-year apps and billion XX% services sequentially. the the and year-over-year down up In entirely totaled apps. year-over-year X% from incremental to growth the the in down attributable billion standalone X% app up Momo quarter, from XXX% both for past the revenue new standalone
than harder this app beginning services to our revenue driving collectively continuous revenue increase XXX% offset year-over-year. year XXXX, the COVID. revenue the these Momo Momo new VAS revenue excluding our apps Advanced XXXX. year of decline, Tantan to year-over-year from team up of decreased revenue million. billion, due to monetization RMBXXX from In year billion, lower RMBX.XX considerably pushed was value-added at X percent to to apps, from order on fiscal new the expectation X% over from pressure RMBX.XX For totaled
in and pressure COVID XXXX, revenue fronts. of As strict online increasingly higher on significant traffic social saw both activities measures conversion offline control use cases to became with
nearby the ingredients significantly interest implemented. list COVID strict uses virtual control with For example, from on enthusiasm measures [indiscernible] compared consumption weakened before group gifts were in and the
to new leveraging the subscriptions they traffic on designed based potentially effectively efficiency were features. to less innovative RBS users' drove meet In from and because the service offset video declined, audio entertainment in features this able XXXX, also impact products with can Revenue membership connections social represents increase pay revenue to and make growth that COVID paying of contrast, and propensity offline. steady attributes to and experiences by user's
With trends spend beginning marketing the and of cost financials. with escalating management and In to investments financial Tantan, to the ROI. and half pandemic by start impacts since caused business the on user pursue overall low the control and the narrow decided in respect Tantan, second to I'll measures, channels to Tantan's response cutting the with reducing year, in loss net methods a strategy by control
regions in call overall Since and the removal controls. user in many experienced zero COVID XX% China's in of put from China December, a June the policy huge to surge early the on to lot country RMBXX.X by a pressure investment. down XX% quarter-over-quarter across the infections, decrease million of before compounded COVID initiated a reduction which traffic, December, in we
number The X.X COVID mainly fast down to paying conversion infections. users MAU sequentially, million due paying of both in amid the to was the and decline XXX,XXX growing
off resume the level year. started March outbreak pandemic after recovered before traffic the to DAU eased to New December in the has in gradually infection Year, last Chinese early As growth.
the membership due fourth decline performance. financial Gold ARPPU, up and decline users. quarter premium year-over-year, paying due paying Tantan's Total The improvement revenue was of sequential the the in The streaming reveal number briefly was year-over-year mainly revenue the was decrease service, Black driven RMBXXX sequentially. new pressure XX% by but the by in million, on for to the to the users. which growth caused I'll X% offset down in live Now,
of user offset Last down in RMBXXX pressure the increase is positive paying sales membership of users. X% a couldn't paying sequentially service million, revenue improving highly because correlated decline from number was the new the role fully played with revenue VAS memberships although the ARPPU,
hand, live revenue sensitive was which features. to the On operational through to drive efforts, improvements oriented more ARPPU product growth team the and able significant streaming other is business, our new
streaming live the quarter million. up XX% sequentially revenue to was result, a As fourth for RMBXXX
revenue resulting year to in count and mainly RMBX.XX million, live was year-over-year. reduce channel fiscal was decrease RMBXXX Lost XX% paying Tantan's streaming revenue to XX% RMBXXX the total year-over-year, user down our For revenue billion, year-over-year million, in XX% COVID down initiative was due and down from XXXX, XXXX investments.
compared with XXXX. XXXX in the net Tantan's adjusted was RMBXXX for loss RMBXXX million fiscal in million year
was adjusted XXXX the to to relatively the year. investments. channel in Thanks effective year large, of efficiency optimize quarterly improved our And substantially The costs results million the RMBXXX control from RMBXX second still half net half average the in the was adjusted significantly narrowed and strategy Although in loss to net the net half. improved. investments the of loss greatly million be first loss of and in latter
Now, The to dating the has that progress let's year these the use Tantan pandemic look situation deliver solid at of at against deteriorated the priorities. and rolls improving by made before the is efficiency goal was strategic strategic of call marketing experience. beginning
COVID control negative had impact retention measures However, severe during the and on second paying a quarter, tighten user conversion.
financial more not response to we half unsustainable. of marketing it's uncertainties without more we the in Growing by the adopted makes channel bottom both base the the expense pain profit indicators led that and grow a pandemic, LTV loss. sense, third significant a where economic user created rather of in decline In negative the conversion matrix line. are no key making a than the user determine also acquired, The retention User greater at the prudent to the and the the ROI. only but cycle second year, strategy
create the same algorithms, and retention on innovation spending net cycle. once focus efficiency low user ARPU through narrow product in we will the new all features marketing growth to realize the reduce continue At growth we channels positive, self-sustaining into to non We profit loss. and VAs items membership improving ARPU. a to time,
we terms of retention in and have enhancing ARPU. user progress look made improving at efficiency the let's acquisition Next, and
since and the of domain cost, team larger-than-expected degrees compared continued by as proportion key the of and channel user efficiency year, ARPU December beginning Therefore, such with Firstly, new base, improve the large-scale to new the materials users. ad the on retention of front, acquisition year. adjusting varying the previous improved indicators the our outbreak channel although optimizing pandemic the led users the acquisition to decline in a have in all user user unit to and
cost year increased at satisfactory acquisition Compared the ARPU younger XX% proportion And cost by level. fiscal female user user was unit age for QX XX% from XXXX and tended average to new was users ago year-on-year acquisition XX%. the remained more the in with The period. average of and down year down new especially user previous nearly year, the a be than
the user and reduction. from deteriorating Our team pandemic platform in despite maintained the of the situation the stability decline of users, the experience and ecosystem new resulting investment the channel
clarified improving terms have for of ARPPU First, two effective directions: user swipe features. In need experiences, through the we experiences match beyond important and product products, social explore new we to
advanced revenue. user commercial to Second, non-language introduce models for we need paying products, improve per to
consumer female retention the year has positive of users, and the chat of are which made experience span During those when in different time, optimizations few experience, we photos. to can unleash effectively their of room the to a of of it the played XXXX, as important a also to spending improving based monetization. the role cohort who time and gifting, same chat room reluctant on users, potential real the show comes At virtual
spending This to Gold was In the team on XXXX, in of Black second dig launched the positive of top received exploring non-membership ARPPU membership year, continued high that features, subscriptions. VIP. in also VAS cohort, impact addition a to a membership high-end of well direction In deeper half by the expansion. on service we our immediately making
our review made endeavors. I'll we progress new the with
from year apps Momo's sequentially. reporting. XX% RMBXXX For from segment quarter, VAS the new the standalone in and million period profit P&L doubled are revenue standalone and apps, oriented and fourth up ago apps In the consolidated totaled the financials gaming the of our
nearly total apps profits while new RMBXXX social For group's fiscal to was have XXXX, growth. All our contribute started million, of endeavors revenue up year-over-year. this the rapid top-line delivering XXX% standalone year, to
the to three expect We revenue contribute meaningful the apps group. to profit standalone and continuously
non-ROI the targeting in product of DAU in first made Gen reached At first of took we products, the beginning quickly launch base and to to oriented and profit generational a we the Gen to addition transition the Alpha the level. the year, products large In user for the users breakthroughs Z XXXX. oriented time opportunity considerable
discovering team's markets social space. in our in seizing new confirms the new competitive This and advantage opportunities
of accelerate better exploration and different provide different we'll to the strive on forward based social trial pace Going for products with error users of new and and products needs. ages
This concludes our updates. business
Now, priorities I'll strategic XXXX. briefly go through our for
stable, cow business. and is we users will and personnel optimize scale to to mature of app, for Firstly to cash this improve goal well the on and the continuing monetization features optimize as new revenue goal, cash continue the To product and our and efficiency. Momo operations cost the maintain achieve as structure introduce productivity keep utilization
Tantan, this, year to Secondly, back growth cycle. both sustainable our for of the we'll a pursue fronts. channel on on and positive the breakeven for goal business is product and achieve achieve To walk
product build can models and Asian for the suitable that we culture. So, dating are monetization
to portfolio, and willing engine. with boundaries product push Tantan respect long-term thirdly, our new Momo we're the products, and enrich growth And beyond develop
Specifically, to profit line group the apps contribute bottom is standalone scale to revenue line. up incremental to our and and plan ROI continue oriented and top profit for more to
for opportunities In new open top. products further a growth DAU addition, we'll large explore up to
the in payment conclude to a announcing amount Lastly, declared our special to of attributable has Hallo that Inc., Group board the I cash XXXX. like will income to ADS, as total adjusted which of or by million $X.XX approximately $XXX net dividend would per of in cash amount XX%
decision Whatever we're opportunities terms of dividends Investors will is the fifth fundamental long buyback, our our that create our work of who in for value form have driving is shared strategy have or the consecutive making know we shareholders. that fruits with year shareholders. business to decent shareholders investment of this us following capital the growth, enough with back or principle growth, been our allocation the identifying of organic in equity long-term paying
to for you your all in like would thank faith I us.
Now, let Cathy for to view. me call the pass over financial