Baozun Inc.

Good morning, ladies and gentlemen, and thank you for standing by for BAL's first quarter 2022 earnings conference call. At this time, all participants are in listen-only mode. After management's prepared remarks, there will be a question and answer session. As a reminder, today's conference call is being recorded. I will now turn the meeting over to your host for today's call, Ms. Wendy Sun, Investor Relations Director of BALSIN. Please proceed, Wendy.

Thank you, Operator. Hello, everyone, and thank you for joining us today. Our first quarter 2022 earnings release was distributed earlier today and is available on our IR website at ir.baozhen.com, as well as on Globe Useware Services. They have also posted a PowerPoint presentation that is a comment to the same IR website where they are available for download. On the call today from Boston, we have Mr. Vincent Chu, Chairman and Chief Executive Officer, Mr. Arthur Yu, Chief Financial Officer, and Ms. Tracy Lee, our Vice President of

Buying a home is a frustrating process. No matter how many houses you look at, chances are you're gonna have to make compromises. At Welcome Homes, we believe you should be able to go online, buy your new home, customize it just the way you'd like, and have it ready to move in in just six months. There are just three costs you need to be aware of when you're building a home with Welcome Homes. There's the cost of the land, cost of the land prep, and then there's the cost of the house itself. That's it. Those three numbers get us to your total locked-in price. First, the land. If you already own land, select that option on our website and we'll have somebody from our team reach out. If you don't own land, you can use our partial viewer to see what's available and where it's located. Select the one you want to purchase and we'll help you through the purchase process. And if you want, we can guide you through financing options as well. Next is land preparation. This includes things like clearing trees, grading your lot, adding a septic system, digging well water, paving your driveway... Everything to prepare your lot so we can start building your new home. We'll work with you so you understand exactly what will be required at your specific site and the associated costs. And finally, the house. Each one of our house models can be customized to fit your needs right on our website. You can choose exterior looks, various kitchen and bath styles, flooring options, and more. So that's it. These three steps give us the ability to give you a clear picture of what your all-in cost will be, and it won't change. Once you get your total locked-in price from us, there's no more dealing with approvals, contractors, architects, designers, endless choices, or an unknown completion cost. You'll get the home you picked at the price we promised, no compromises. Welcome Homes. Order your dream home online.