Good day, and welcome to the ChinaNet Online Holdings Third Quarter 2016 Earnings Conference. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Ted Haberfield of MZ Group. Please go ahead sir.

Thank you. And welcome everyone to today's conference call for ChinaNet Online Holdings. This call will cover ChinaNet's financial and operating results for the third quarter of 2016. The earnings press release accompanying this conference call went to the wire early this morning or actually yesterday. On our call today is ChinaNet's COO, Mr. George Chu, IR Senior Management [Maggie Won and Jack Lee] (Ph). 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. 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 to 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. Chu, who will make some brief opening remarks. Mr. Jack Lee will provide translation and be your main host for today’s call. Mr. Chu.

Thanks, Ted and thank you everyone for joining us today. In the first nine-months of 2016, ChinaNet has continue to evolve into an Internet and Data service Company focusing on the business value created from the massive amount of transaction data generated from our customers. To this end, we have launched and are continuing to develop our business intelligent marketing data service system with CloudX. A soft marketing cloud platform, which has become the foundation for the ecosystem of products and service that will serve any business important early stage of their business cycle with a one-stop solution. This ecosystem contains a digital brand promotion, store management, advertising and marketing service and membership service. CloudX enables ChinaNet to now manage and collect data from online business development to offline sales channels. The overall system is based on CloudX technology and consist of three components, a store management system including a stock and sales system, and intelligent point of sale system, and a multi-functional app with an online retail store membership point exchanging. The store managing system collects and analyze product sales numbers from stores in real-time and its analyzed by ChinaNet for adjustment to produce stock and inventory to improve customer sale. By utilizing CloudX in stores, ChinaNet can provide owner accurate and more precise digital marketing plans. With the data from sales analysis report the system can be installed on either PC or mobile terminals. We are very excited to be ramping up this transition to become a premier internet and data service Company, which is now driving revenue and growth for us along with our full suite of digital marketing products. As such switch is also seeing year-over-year growth. Our result over the first nine-months of 2016 are encouraging as we consider them within the context of the…

Thank you Mr. Chu. Good morning to investor in the U.S. and good evening to those in Asia. As Mr. Chu mentioned, I will begin with a discussion of our third quarter results before I highlight few recent business development. Please refer to the earnings press release and 10-Q, which filed on Tuesday for more details, regarding our result and operation. I will close with our outlook and operational initiative. Total revenue for the three months ended September 30, 2016 were $11.9 million compared to $8.5 million during the year of goal period, a 40.1% increase. The quarter was primarily driven by an increase in revenue from search engine marketing services during the period. Revenue from Internet advertisement and data services was $4.4 million, which decreased 20.1% from $5.5 million in the third quarter of 2015. Although down for the quarter, we believe our efforts to transition to an Internet and data service Company and the integration and upgrading of these services will begin to build recurring revenue and increase market penetration into 2017. In fact a 160% increase from $2.9 million in the third quarter of 2015 to $7.5 million in the third quarter of 2016 and search engine marketing service revenue were supported by the CloudX system, which grow more precision marketing and our [Indiscernible] clients. This enhanced third-party search engine marketing service is designed to help our clients select the effective key words and to prioritize the ranking of the anticipated search engine results, on selected keywords in order to increase the [Indiscernible] rate, our client’s business promotion on both mobile and PC search. This service has been an effective supplement to the Internet advertising searches provided to our clients and has helped increase the overall satisfaction on our services, thereby increasing recurring revenues and number of…

Thank you, Jack. As initiated by the improvement of gross margin, we have gained some initial success with CloudX. As you can see that the technology would be CloudX - our marketing promotion cost reduced quite tremendously. While the overall Internet resource cost is rising right now. So this is a clear achievement that we have achieved. And we have been internally tested with our existing clients and our sales and we will officially launch CloudX SaaS marketing cloud to all SMEs in China in December and January. And that our plan for CloudX that we will be also launching it gradually to the rest of the world and to all of the businesses we ever wish to come into China and to the marketing or advertising plan. And second thing is that we have been continuing working with Alibaba on creating the efficient marketing data model for precision marketing and faster deal closing. In relation to two way, O2O to online to offline and offline to online. We are transferring all of our data to Ali cloud and this information will be completed by end of Q1 or early Q2 next year, as we are transferring our past 10 year’s data and we are building a quite large skies of on data structures for future business expansions. As a result, as we have seen a legal change this and legal change of that and certainly we come out with the CloudX things and that is why the Company - we will be conducting virtual Company presentation on November 29, 2016. In this presentation, we will connect the past to the future and walk our investors to everything that we have done and our plans for next few years and the starting with the rest of 2016 and 2017. And also there will be an official announcement on this virtual Company presentation next Monday. So this concludes my prepared remarks, and we will now open the call to any questions you may have for our teams.

Okay. Thank you. So, thank you everyone for participating in this conference call, and we are looking forward to see you again in our Company presentation on the [indiscernible]. Thank you.