Sea Limited. (NYSE:SE) Q3 2023 Earnings Conference Call November 14, 2023 7:30 AM ET

Company Participants

Minju Song - Senior Manager, Group Chief Corporate Officer’s Office

Forrest Li - Chairman and Group Chief Executive Officer

Chris Feng - Group Chief Financial Officer

Tony Hou - Group Chief Financial Officer

Yanjun Wang - Group Chief Corporate Officer

Conference Call Participants

Piyush Choudhary - HSBC

Pang Vittayaamnuaykoon - Goldman Sachs

Alicia Yap - Citi Group

Navin Killa - UBS

Jiong Shao - Barclays

Operator

Good morning and good evening to all and welcome to the Sea Limited Third Quarter 2023 Results Conference Call. [Operator Instructions]. Please note, this event is being recorded.

I’d now like to welcome Miss. Minju Song to begin the conference call. Please go ahead.

Minju Song

Thank you. Hello everyone, and welcome to Sea’s 2023 third quarter earnings conference call. I am Minju Song, from Sea’s Group Chief Corporate Officer’s Office. Before we continue, I would like to remind you that we may make forward-looking statements, which are inherently subject to risks and uncertainties and may not be realized in the future for various reasons as stated in our press release.

Also, this call includes the discussion of certain non-GAAP financial measures such as adjusted EBITDA. We believe these measures can enhance our investors’ understanding of the actual cash flows of our major businesses when used as a complement to our GAAP disclosures. For a discussion of the use of non-GAAP financial measures and reconciliation with the closest GAAP measures, please refer to the section on non-GAAP Financial Measures in our press release.

I have with me Sea’s Chairman and Group Chief Executive Officer, Forrest Li, Group President, Chris Feng, Group Chief Financial Officer, Tony Hou, and Group Chief Corporate Officer, Yanjun Wang.

Our management will share strategy and business updates, operating highlights, and financial performance for the third quarter of 2023. This will be followed by a Q&A session in which we welcome any questions you have.

With that, let me turn the call over to Forrest.

Forrest Li

Hello everyone and thank you for joining today’s call. At our last earnings call, we shared that we would accelerate investment in e-commerce. In the past, our e-commerce business has made some significant shifts in operational focus to adapt to major business environment changes. Before diving into the details of the third quarter results, I would like to first share how the thinking behind each shift has been underpinned by our long-term view of the business.