Gaotu Techedu Inc. (NYSE:GOTU) Q1 2022 Earnings Conference Call June 6, 2022 8:00 AM ET

Company Participants

Sherry Liu - Manager of IR

Larry Chen - Founder, Chairman and CEO

Shannon Shen - CFO

Conference Call Participants

Mark Li - Citi

Operator

Ladies and gentlemen, thank you for standing by and welcome to the Gaotu Techedu Inc. First Quarter 2022 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note today's event is being recorded on Monday, June 6, 2022. I would now like to hand the conference over to your first speaker today, Ms. Sherry Liu, IR Manager of Gaotu. Thank you and please go ahead.

Sherry Liu

Thank you very much, operator. Good evening, everyone, and thank you for joining us on our first quarter 2022 earnings conference call. Gaotu's first quarter earnings release was published earlier today and is available on the company's IR website at ir.gaotu.cn. On the call with me tonight are Mr. Larry Chen, Gaotu's Founder, Chairman, and Chief Executive Officer; and Ms. Shannon Shen, Gaotu's Chief Financial Officer. Larry will give a general business overview for the quarter and then Shannon will discuss the financials. Following their prepared remarks, Larry and Shannon will be available for the Q&A session.

I will translate for Larry. Before we begin, I'd like to remind you that this conference call will contain forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon management's current beliefs and expectations as well as the current market and operating conditions and they involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the company's control and may cause the company's actual results, performance or achievements to differ materially from those contained in any forward-looking statements.

Further information regarding these and other risks is included in the company's filings with the U.S. SEC. The company does not undertake any obligation to update any forward-looking statements, except as required under applicable law. As a reminder, this conference is being recorded. In addition, a live and archived webcast of this conference call will be available on Gaotu's IR website.

It is now my pleasure to introduce Larry. Larry, please go ahead.

Larry Chen

Thank you, Sherry. Good evening, and good morning everyone. Thank you for joining us on our 2022 first quarter earnings conference call on this special day, which happened to be Gaotu's third year listing anniversary. Before I start, I would like to remind everyone that all financial information that I mention later is based on RMB unless otherwise noted.