Jiayun Fang

Jiayun Fang asked about the sustainability of the overseas business's strong year-over-year revenue growth (over 70% for two consecutive quarters) and the company's revenue expectations for the overseas segment in the second half of 2025.

Answer

COO Zhang Sichuan stated that overseas growth was broad-based, driven by Suzhou, Yahala, and Amar, with strong ROI despite increased channel investment. She noted a deliberate slowdown in Q2/Q3 to prioritize profit over faster top-line growth, focusing on increasing ARPU and optimizing user acquisition costs. She also highlighted strong performance in overseas dating, including Tang Tang International and the acquisition of Happn. CFO Cathy Hui Peng added that while Q1 and Q2 saw over 70% growth, Q3 is expected to moderate to around 60% year-over-year due to strategic pacing of marketing spend. Non-Suzhou brands are accelerating at a triple-digit pace, and overall overseas growth is expected to reaccelerate by Q4 as ROI optimization takes effect.

Jiayun Fang asked about the sustainability of the overseas business's strong year-over-year revenue growth, which has exceeded 70% for two consecutive quarters, and the company's expectations for overseas revenue in the second half of the year.

Answer

COO Zhang Sichuan attributed rapid overseas growth to Suzhou, Yahala, and Amar, emphasizing a prudent strategy balancing growth with profitability by optimizing ARPPU and user acquisition costs. She also highlighted the strong performance of the overseas dating business, including Tang Tang International and the Happn acquisition. CFO Cathy Hui Peng provided a quantifiable outlook, projecting a temporary moderation to around 60% year-over-year growth in Q3 due to strategic marketing pacing, with reacceleration expected in Q4, driven by non-Suzhou emerging brands with higher margins.