Unidentified Analyst: I have another question. Stating the challenging market environment, what are the company’s operational priorities for your two business, children, and adult education businesses?
Nancy Ying Sun: Thank you for your question. Facing the pressures and challenges from the market environment, we have the current operational priority for our two businesses. First, in terms of STEAM education, we’ll continue to optimize and upgrade our OMO-based customer acquisition process and product delivery system and refine our operations to consistently improve the health of our business. To that end, as attracted brand among students and parents continuing to increase word-of-mouth referrals and student renewals is our priority. At the same time, we will also try to minimize the impact of the pandemic by building on our OMO format. Regarding our adult business, we’ll closely monitor the job market environment and with the current upgrade of the industrial Internet we’ll capture the changes and opportunities in talent demand to upgrade our courses and other products.
We’ll also optimize our product mix and business structure. In addition, for professional education, which is encouraged by the government, we’ll actively promote industry education integration and school enterprise co-operation. Lastly, with the current top market environment based by all the players in the industry, it with good operational capabilities and core competencies that will stand out from the competition after the pandemic. And we are fully confident about our competitiveness. I hope I’ve answered your question.
Unidentified Analyst: I have one last question. The digital transformation of the economy is imperative and a huge demand for digital talent has driven the expansion of the IT education and training market, facing the increasing competition in the adult IT and training industry, what is Tarena’s competitive barrier?
Nancy Ying Sun: Well, I would like to answer your question with three points. The first advantage of Tarena is our focus on the IT industry and our two decades of experience in IT training, which has provided us with the most in-depth understanding of the IT training industry. As our management come from the IT industry, they have extensive industry insights and our 20 years of experience in IT training has allowed us to pick-up on the changes in information technology and understand what it means for talent supply and demand in the market. On that basis, we have built our independent course development capabilities, including the abilities to iterate and upgrade our core content delivery system and teaching platform, which constitute our core competitiveness.
In other words, we have a solid first mover advantage. Secondly, we have operational experience expanding economic cycles and technology development cycles. Over the past 20 years, we experienced several economic cycles and large scale technology iterations. We have been able to quickly respond and adjust in time to follow the trends of our time, including adjusting our operational strategies and our courses. And this has enabled us to lead the development of the industry. In addition, through years of persistent efforts, we have created a complete OMO system, which allows the seamless integration of our online and offline operations from customer acquisition and delivery to student services and tracking learning results. Our OMO system has allowed students to get good services whenever they need and wherever they are, ensuring a good learning experience and learning effectiveness.
That’s my answer to your question about Tarena’s competitive barrier from.
Unidentified Analyst: Thank you.
Operator: Thank you. And we don’t have any other questions as of the moment. Presenters, please continue.
Sylvia Yang: Thank you, operator. If there are no further questions at present, we would like to conclude by thanking everyone for joining our conference call. We welcome you to reach out to us directly by e-mailing at ir@tedu.cn. Should you have any questions or requests for additional information, we encourage you to visit our Investor Relations site at ir@tedu.cn. Thank you.
Operator: Thank you. Ladies and gentlemen, that does conclude our call for today. Thank you for participating. You may all disconnect.
