Hello ladies and gentlemen. Thank you for standing by for the Four Seasons Education's Second Quarter Fiscal Year 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. After management's prepared remarks, there will be a question-and-answer session. Today's conference call is being recorded. I will now turn the call over to your host, Ms. Olivia Li, Investor Relations Manager for the company. Please go head Olivia.

Hello everyone and welcome to the second quarter fiscal year 2020 earnings conference call of Four Seasons Education. The company's results were issued via newswire services earlier today and are posted online. You can download the earnings press release and sign-up for the company's e-mail distribution list by visiting the IR section of our website at ir.sijiedu.com. Ms. Joanne Zuo, our Director and Chief Financial Officer will read CEO remarks on behalf of Mr. Peiqing Tian, our Chairman and Chief Executive Officer and will provide details on the company's financial results and business outlook before opening the call for your questions. Before we continue, please note that today's discussion will contain forward-looking statements made under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such the company's results may be materially different from the views expressed today. Further information regarding this and other risks and uncertainties is included in the company's prospectus as filed with the U.S. Securities and Exchange Commission. The company does not assume any obligation to update any forward-looking statements except as required under applicable law. Please also note that Four Seasons Education's earnings press release and this conference call include discussions of unaudited GAAP financial information as well as unaudited non-GAAP financial measures. Four Seasons Education press release contains a reconciliation of the unaudited non-GAAP measures to the unaudited most directly comparable GAAP measures. I will now turn the call over to our CFO, Ms. Zuo. Please go ahead.

Thank you, Olivia and hello everyone. Let me first read the CEO remarks on behalf of Mr. Tian. We achieved a strong quarter with remarkable operating and financial performances. Thanks to our successful strategy and relentless efforts to optimize and adjust our operations. In the second quarter, total student enrollment reached 39,357 representing a vigorous growth of 90.8% year-over-year. The active student participation reflects the attractiveness of our programs and our enhanced brand awareness. We consistently enrich and diversify our cost offerings to cover more academic subjects and educational topics. With differentiated programs designed for different grade levels, we have efficiently extended our courses to broader age groups. To our satisfaction, the optimization program for our learning center network in previous quarters paid off well with satisfactory enrollment in learning centers both in and out of Shanghai. In addition, we prudently expand our network in key cities that we already have presence. In the second quarter, we added an additional learning center in Chongqing and one in Shenzhen. Both cities are economically dynamic markets that we believe have great growth potential for K-12 after-school education. As of August 31, 2019, we had 54 learning centers including 44 in Shanghai and 10 in other cities. Besides the solid growth of our student base and healthy development of our learning centers, we have made encouraging strides across our other interest-oriented educational programs. During the second quarter, Four Seasons Education's teams achieved outstanding performances in various Sudoku and Bridge match including winning top awards in national activities. A special note for this year, we launched our first Bridge summer camp where students harvested an enjoyable experience in learning the history and the technique of bridge cards. All these interest-oriented activities illustrated that we are not only an excellent tutoring service provider for students'…

Thank you. We will now begin the question-and-answer session. [Operator Instructions] Our first question comes from Huang Zao [ph] of Guangzhou Securities [ph]. Please go ahead.

I'm [indiscernible] from Guangzhou Securities. First, I want to congratulate the company for a solid performance during the past quarter. I have two questions. I hope you can kindly explain. First, I have noticed that there is a robust increase of student enrollments during the second quarter. Part of the reason was the change of tuition fee collection schedule. I wonder, beside policy reason, what's the organic growth of student enrollments was due to like class diversification and recruiting? And how about the average tuition fee? And the second question is, during the second season there were two new study center. I wonder what the future plan of new study center geographically and pace? And the third question is, according to the guidance of the third quarter, the growth of revenue is 10% to 15% year-over-year. So it's like a little slower compared to the first half of the year and second quarter, is there any particular reason? Thank you.

Yes. Let me answer the question. The first question, yes, part of the reason is due to the change of fee collection schedule. And, however, we are not able to disclose the precise increase. If we exclude those, the reason of fee collection schedule change, but definitely it would be lower than 90%. You can reach out to IR and we can schedule a separate call and maybe I can give you a rough range after our internal calculation to exclude those factors that as a result of policy change. And to your question on average tuition, yes, in the summer, we increased the portion of small-class and for our small-class, we’ve had an higher hourly rates. That's also part of the reason why our revenue increased robustly in summer season which has also been fiscal quarter. So the revenue increase is attributable to first actual enrollment change and second is the tuition change. And to your second question that new study center, we mentioned our two new study centers, right? We opened one new study center in Chongqing and one in Shenzhen both cities is important economic city in China with large market potential and the part that we work with. We opened our first center in Chongqing one -- roughly one year ago and we already have seen a very good strong results from our Chongqing operation and we decided that we are ready to open the second center. And our program and our brand is well received there. For Shenzhen -- Shenzhen is an important market and this will be our -- one of our top priority cities in our expansion plan outside Shanghai. We have a dedicated team to do business in Shenzhen. Hopefully, we will see strong revenue growth and contribution from center, but because the center is a relatively new, so right now we don't really have any operations there yet. Second -- third question is revenue guidance. Yes, the third quarter is not as strong as second quarter based on our current estimate, but as you know our third quarter ending in November, hopefully we cannot give our current guidance. But right now we want to be absolutely conservative so that's why -- that's part of the reason why we give very sort of conservative guidance for the time being.

Okay. Thank you.

[Operator Instructions] This concludes our question-and-answer session. I'd like to turn the call back over to the company for closing remarks. I'll turn the call over to the company. Thank you. Olivia?

Thank you. Once again for joining us today -- if you have further questions, please feel free to contact Four Seasons Investor Relations through the contact information provided on our website or the TPG Investor Relations.

The conference has now concluded. You may disconnect your line. Thank you.