So those applications are from application fraud detection and risk model and risk credit and risk policy improvement. That’s just one of the examples we are working on. So I mean, as we all know, the power of AI on our society or people’s life specifically on the financial services sector just started. So one thing I want to mention is very interesting. The training of the data or the application or the solutions for the financial services sector actually — it’s actually behind other sectors such as social media or e-commerce or even other sectors. However, we believe we strongly believe that the finance sector — financial sector or fintech sector will be one of the top sector that will be impacted or will benefit from large language model from AI.
And this is similar to the last several technological trend for PC or mobile internet or cloud. The financial sector is actually one of the — it’s actually not number one, it’s top two sectors that invested in technology heavily and transformed the sector like big by the new technology, new trend like AI. So that’s why we are optimistic. We are confident I would say the Jianpu, our team, our partners I mean including ourselves. We are, I would say, it’s all in — we’re taking heavily on AI, I’m putting that away. So, in summary, we will better integrate AI driven by large language model with our digital transformation and capabilities. It’s a part of our regional strategy and also we also applied that in our business operation. We want to further enhance our overall capability as a tech driven digital transformation and AI powered company that support our vision as to become everyone’s financial partner.
I think that’s coming that will happen. Thank you.
Oscar Chen: I will take the second question about the improving margin. Yeah, I think, we are pleased to see our narrowing net loss in the past — few in the past number of quarters in particular in the last three quarters we achieved a single-digit net loss margin. I think that’s the reason behind the margin improvement and the narrowing net loss margin. The reason being is the firstly the business volume growth. Secondly is the efficiency gain. And the third of course is the cost control. And I think the — we can see our continuous growth in our revenue scale for, in the first quarter, you can — you can observe a robust year-over-year growth of 39%. And furthermore it is worth emphasizing that our revenue growth has achieved the consecutive growth for the last five quarters.
And secondly we achieved a well balanced between the growth and the efficiency for more mature business such as recommendation services. We prioritize efficiency over growth. And for the new business, we may consider to sacrifice profitability a bit to a certain extent to achieve high growth. So well-balanced between the growth and efficiency help us to grow our ROI continuously which result in the margin improvement by various business lines. And the last is the cost of control. We streamed our business line with targeted measures and strategically optimize our resource allocation among the different business lines, which resulted in our operating expenses decreased by around 11% year-over-year in the first quarter. So I think we are now well-positioned to benefit from the recovery of the micro economy given our — the leading position in the industry and our continuous efforts to drive the business, the efficiency gain and to control the costs.
I think if we follow in this trajectory, we expect we are — we expect we will achieve a break even in the near future. Yeah, thanks.
David Ye: Thank you, Carol.
Unidentified Analyst: Yeah. Thank you for your answer. I have no further questions.
Operator: Thank you. There are no further questions at this time. This concludes our question-and-answer session. I would like to turn the conference back to Liting Lu for closing remarks.
Liting Lu: Hey, thank you, once again for joining us today. If you have any further questions, please contact us at ir@rong360.com. Thank you for your attention and we hope you have a wonderful day. Bye.
David Ye: Thank you.
Oscar Chen: Thank you.
David Ye: Have a good day.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
