Going forward, we will increase our focus on identifying and expanding innovative businesses based on collaborative initiatives with game developers. These coordinated efforts are designed to further diversify and empower our commercialization capability with the ultimate goal of fostering long-term sustainable profitability and development across our platform. As to the cash flows, in terms of adjusted net income, we have achieved three consecutive quarters of profitability. These outstanding results not only underscore our effective cost controls, which we can see in our continuously narrowing operating losses but also highlight the company’s productive approach to asset management. For nine months ended September 30, 2023, our net cash outflow from operating activities was RMB 31 million.
A seasonal low in operating cash flow typically comes in the first quarter as we pay employee year-end bonuses at the beginning of the year. In the second and third quarters of this year, our operating cash flow turned positive. Additionally, in 2023, the company has not and will not engage in any significant financing or investment activities outside of cash management. Thank you. Next question, please.
Operator: Our next question comes from Raphael Chen with BOCI Research. Please go ahead.
Raphael Chen: [Foreign Language]. Thanks management team for taking my question. My question is about users. Firstly, could management elaborate more about the MAUs in this quarter? Secondly, could we have some color on the fourth quarter MAU guidance, especially with the help of League of Legends Pro Championship? Thank you.
Hao Cao: Thank you for your question. How has mobile MAU performed well in the third quarter? As mentioned in our prepared remarks, thanks to the platform’s high-quality content. Our approach to growth has always been content driven. This trend rate paid off during the summer season. Firstly, during the summer peak season, we broadcast the finals of several official summer tournaments and strengthened our investment in derivative content based on official tournament content, such as the co-streamed live commentary by streamers and postgame review programs. Derivative content is popular among users in large skill official tournaments such as LPL and KPL. The interactions between streamers and users were more frequent, attracting more new users.
Next, the comprehensive programs we launched based on new guests and the introduction of gamer benefits in collaboration with game developers have attracted new users and invigorated existing ones. For example, as mentioned earlier, the premier PGC royalty show featuring Eggy Party reached a record high MAU in the game segment during its broadcast in July. And the number of viewing hours also doubled compared with the typical daily average. Additionally, during the KPL summer tournament, we collaborated with game developers to launch a 2-month long benefit activity on our game segment, including a game top-up, customized special effects, which also drove in more player participation. With the conclusion of summer tournaments, the MAU in the late part of the third quarter began to wind down.
In general, there are fewer official event in the fourth quarter. Although the LOL World Championship tournaments are held in the fourth quarter, the schedule is relatively shorter. At the same time, there are more holidays in the fourth quarter. And users typically engage in more offline activities during this time, as all of these factors can weigh on MAU levels in the fourth quarter. We will maintain our prudent marketing strategy and stick to our content-driven strategies for user retention and growth to mitigate the adverse seasonal effect on MAU. Our content driven strategy to facilitate platform growth has remained unchanged for a while now. By continuously investing in high-quality content learning about the user content demand, upgrading content recommendation algorithm, providing technical support and updating relevant project factors, we have stabilized those core user base and gradually attracted the new users.
Therefore, despite the complex market environment, our core user data remains stable overall. We are also actively exploring new models to promote a second phase of rapid growth in user scale on our platform. Thank you. Operator, please.
Operator: Thank you. It’s all the time we have for questions. I will now turn the call back over to management for closing remarks.
Lingling Kong: On behalf of the management, thank you for joining our call. We look forward to speaking with everyone next quarter.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
