Ladies and gentlemen, thank you for standing by, and welcome to the Momo Second Quarter 2015 Earnings Conference Call. At this time all participants are in a listen-only mode. [Operator Instructions]. I must advise you that this conference is being recorded today, Thursday 20 August 2015. I would now like to hand the conference over to your first speaker of today, Ms. Cathy Peng, the IR Director of the Company. Thank you. Please go ahead.

Thank you, Operator. Hello everyone and thank you for joining us today for Momo's second quarter 2015 earnings conference call. The Company's results were released earlier today and are available on the Company's IR website. Joining me today is our Chief Financial Officer Mr. Jonathan Zhang. Mr. Zhang will discuss Momo's business operations, followed by a financial review. Due to the pending going-private transaction, we will not be hosting a Q&A session following the end of the call. If you have any additional questions, please contact us at ir@immomo.com or 861057310538. Before we begin I would like to remind you that this call may contain forward-looking statements made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and current market and operating conditions and relate to events that 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, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties and factors is included in the Company's filings with the US Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law. With that, I would like to pass the call over to Mr. Zhang, who will now go over the business and financial highlights for the quarter. Mr. Zhang, please.

Thank you, Cathy. Good morning and good evening everyone. Thanks for joining our conference call today. I will be hosting today's call and give you an update of our business operations during the second quarter 2015, followed by a financial highlights review. Starting from operating metrics, our monthly active users or MAUs grew 47% year-on-year to 78.4 million at the end of June, 2015. The number of location-based interest groups increased to 5.7 million at the end of June, 58% higher than that for the same quarter 2014. Daily time spent per active users remained relatively stable during the quarter, around 30 minutes. In April 2015 the Company launched a major product upgrade, 6.0 version. In this new version we put a newly designed message board as the default page and moved the nearby function, the previous default page, to a secondary page under the Discovery tab. We also introduced virtual chat rooms in Momo 6.0. Through this lighter social interaction features, we aimed at lowering the pressure our new users encounter before they establish adequate relationships on the platform. Such functions would help drive more diversified social behaviors on Momo and achieve our long-term growth target of user base. Although we have observed some progress on those set goals, the performance of the new features has not fully met our expectations. Our analysis after the new version launch showed that message board as the new default page had its limitations. The biggest one was that only a portion of our active users post messages on message board, limiting the scope of potential connections that can be found by our users on the new default page. Other areas for improvement included quality of postings, logic of recommendation algorithm, authenticity of user tags etcetera. Due to these limitations, the message board…