00:00Since we're China, let's start with that. Given the environment here where we see
00:05demand for consumer appliances coming down or slowing down, how much room do
00:10you see for growth in your China business? I think there are pretty large rooms for
00:14the growth of the domestic market in China. The reason being is what we found
00:17that's so interesting is that overall we can say that the resale is kind of
00:22slowing down in China, but this high-tech products, especially some new sectors
00:27we're approaching is fast-growing, including like the companions. Recently this
00:32year we launched the production with Fuzuzu, so it's companion pad for young
00:37ladies and that's growing quite well. And we found that the user behaviors and the
00:41more and more new users that's starting to become heavy sticking with AI
00:45applications. You have pretty strong revenue over the last few quarters.
00:51What is your outlook going forward? I think that the momentum will continue to
00:55grow and continue to grow stronger and stronger and thanks to two things. The
01:00first one is that the more and more global users, consumers, they become AI users
01:05no matter through the LLM apps or any different type of AI agent apps. So they
01:10get more and more used to, you know, have the experience to directly communicate
01:14with the AI. And then starting from there is starting to search new
01:17applications besides the apps. So those kind of new devices showed up to say that I'm
01:23right now I'm contained with the AI capabilities that bring their interest.
01:27How are you seeing consumer demand changing and how is that shaping your
01:30product offering right now? I think that the user behavior is trying to change and
01:36they're starting with every single age. Like my son, five, six years old, and right now
01:41he's trying to verify every answer. His father answer him's question. He's trying to say,
01:47are you sure about this? Let me verify with my AI. So I think that the entire society is
01:53trying to reshape in their skill set and the gateway for them to get the knowledge and on
01:59daily basis. So that's the first one. And while market education is trying to get further
02:05and further and people will feel so naturally seamlessly that they have any other type of
02:11products that are coming on with the AI.
02:12What is your most important market for growth right now?
02:16I think right now we still have the global footprint. It's so very balanced in different
02:20regions. Like the European market right now contributes around 30% of my overall business.
02:26Northern America nearly 20%. And Southeast Asia 16%. Latin America 12%. And China still
02:32around 15%. I still have Middle East and Africa and over 5%. So it's quite diversified and balanced
02:40different region and distributions. But for us is that we need to break down in different region
02:45sectors. Like for European market so far. And so energy sector become more and more important
02:50roles in that market. And while in Southeast Asia we found that security and the home security type of
02:57the portfolios will play more important role out there. And for Latin America right now we're
03:02searching for entertainment type of portfolios. So different lifestyles in different regions
03:08that people will search for different things.
03:10Given the global fragmentation we're seeing, I'm wondering, do you face challenges as a Chinese
03:16company trying to get clients in the U.S.?
03:18And I think that there's a challenge overall, right? Not recently. But the key part is that the key
03:25challenge will come from whether you provide a really competitive technologies that help in the U.S.
03:31customers to get a really good product that allow them to fight their own fight in the same time,
03:38that you will be able to deliver the technology in the right way that will bring the confidence of
03:42the U.S. field customers out there.
03:45What do you think is the biggest difference between the U.S. and Chinese market now? How do you have
03:49to
03:49market and sell your products differently?
03:52I think that there are several different things. The first one is that the lifestyles in two
03:58countries are totally different, right? And so how the daily life looks like in American cities is
04:04totally different than the Chinese people's. So like one U.S. case is the bird feeders. That will be
04:09interesting applications we develop for U.S. market after COVID while people are starting to work from home.
04:16And so they feel boring that besides the working hours and then it's trying to be connected with
04:23the white lives in the backyard. And then we provide the AI bird feeders to allow them to attract the
04:29white birds and counting birds and to help them to recognize what species and the knowledge behind
04:34the birds. But in China that demand that is a success because people don't live in that way. So the
04:40first
04:40one understand different lifestyles and different regional peoples. And the second one is that to
04:45understand different business models. Like for U.S. customers, they more rely on the global supply
04:50chain existing in the past 20 or 30 years. And so the key part for them is the product design,
04:57product definitions, and distribution. But in China, maybe not. In China, they focus more on the
05:02manufacturing, supply chain, optimizations, and then marketing. So you need to find the right
05:09approach to hit the right strengths in different customers in that area.
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