Good day, everyone, and welcome to the ChinaNet Online Holdings Second Quarter 2015 Earnings Call. Today's conference is being recorded. For opening remarks and introductions, I will turn the call over to Gregg Davis with MZ North America. Please go ahead Gregg.

Thank you, and welcome everyone to today's conference call for ChinaNet Online Holdings Inc. This call will cover ChinaNet's financial and operating results for the second quarter of 2015. The earnings press release accompanying this conference call went to the wire early yesterday morning on August 17, 2015. On our call today is ChinaNet's Chairman and CEO, Mr. Handong Cheng and the company's COO, Mr. George Chu. Before we get started, I will read a disclaimer about forward-looking statements. This conference call may contain, in addition to historical information, forward-looking statements within the meaning of the federal securities laws regarding ChinaNet Online Holdings Incorporated. Forward-looking statements includes statements about plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are different than historical facts. These forward-looking statements are based on current management expectations and are subject to risks and uncertainties that may result in expectations not being realized and may cause actual outcomes to differ materially from expectations reflected in these forward-looking statements. Potential risks and uncertainties include change in demand for the company's services, the impact of competition and government regulation, and other risks contained in the statements filed from time-to-time with the SEC. All such forward-looking statements whether written or oral made on behalf of the company are expressly qualified by these cautionary statements, and such forward-looking statements are subject to risks and uncertainties, and we caution you not to place undue reliance on these. At this time, I would like to turn the call over to Mr. Cheng, who will make some brief opening remarks. Mr. George Chu will provide translation and be your main host for today's call. Mr. Cheng?

[Foreign Language] Thanks Gregg. And thank you everyone for joining us today. In the first six months of 2015, ChinaNet has continued to refine and expand our broad range of products and services. Throughout the six months period, we also have seen some strong new results in our portfolio of strategic partnerships. We have worked diligently to feel this new relationship and to introduce new initiatives to our clients, while the macroeconomics environment in China has continued to challenge our business margins and bottom line. [Foreign Language] Our outlook for the remainder of 2015 remains constant despite the weaker outlook for the yuan and economic growth. We believe that our core customer base of small and medium-sized businesses will continue to see our cost effective technologies and opportunities for their sales and advertising programs. Our expanding portfolio of partnerships and recent capital investment will also contribute to diversifying our revenue streams and creating future opportunities. Together with our partners, entrepreneurs and franchise owners, we are positioning ourselves with [effect] [ph]. [Foreign Language] Despite a challenging economic climate, ChinaNet balance sheet and capital position continues to assure our position. Our partners have continued to strengthen our position as well, holding their confidence with strategic investments in ChinaNet. Most recently with Dongsys Innovation $1.25 million investment that capital infusion along with our diverse set of strategic investors and partners will be extremely positive in expanding our business directory panel with other new services to be launched in the next three years. ChinaNet has a strong commitment to the ongoing development of our technology to deliver a cutting-edge products and services to our customers and preserve our competitive advantage. Our position also allows us to follow market trends to diversify our revenue streams into mobile and offline systems. Our diversification strategy has also begun to see positive results with our strategy to provide products and services to coordination with our ownership stake with select partner companies. Our partnership with Beijing Saturday has successfully seen them at over 600 of their children's entertainment centers since we are engaged with them. We are confident with this revenue model, while we can leverage our knowledge and marketing service into their success will contribute to our bottom line going forward. In closing, I would like to thank all our employees for their commitment to ChinaNet and our shareholders. We will continue to innovate and seek new opportunities as our economic continues to face challenges. We believe our strategy to diversify our revenue and build increasingly stronger partnerships will position our company for growth in 2015 and beyond. Thank you for your patients and understanding. [Foreign Language] I would like to introduce our COO, George Chu, who will now discuss our second quarter 2015 results.

Thank you, Cheng. Good morning to investor in the U.S. and good evening to those in Asia. As Mr. Cheng mentioned, I will begin with a discussion of our second quarter results before I highlight business developments. First we will refer to the earnings press release and 10-Q filed on Monday, August 15 and more details regarding our results and operation. I will close with our outlook and operation initiatives. I will stick to this PowerPoint that will help you to understand the business. Other revenue for the first three months ended June 30, 2015 were $9.6 million representing a decrease of 7.1% year-over-year. During the second quarter revenue from improving Internet advertisement and services increased 16% to $5.8 million. We have continued to place precedent in integrating and upgrading our Internet advertising and marketing services to our business clients. As a result along with eliminating smaller clients, we successfully saw approximately 103 new clients during the second quarter of 2015. And the number of larger customers served by Liansuo our premier advertising and marketing will continue to increase. As compared with the same period last year our client's average consumption now with our Internet advertising services also increased. This improvement in Internet advertising have to offset the client search engine marketing services, TV advertising and brand management and sales channel building services from the same period a year ago. Search engine marketing revenue for the second quarter were $2.6 million this enhanced third party search engine marketing and advertising TV services this time we have our clients to look more effective key word result and prioritize and anticipate search engine results selected key words in order to increase the success conversion rate to our clients business and promotion in print mobile and PC service. We believe in this service,…

Thank you for joining on us on our Q2 2015 investor conference presentation for Q2 results. And thank you for your participation. And if you have any other further question after this call, please feel free to email us at ir@chinanet-online.com. And we will respond in a proper manner. So thank you everyone for joining us today. And wish you all a great day today. Thank you.

Ladies and gentlemen, thank you for your participation. This does conclude today's conference.