Baozun Inc.

Good morning, ladies and gentlemen, and thank you for standing by for Bowson's first quarter 2023 earnings conference call. At this time, all participants are in listen-only mode. After management prepared remarks, there will be a question and answer session. As a reminder, today's conference is being recorded. I would now like to turn the meeting over to your host for today's call, Ms. Wendy Sun, Senior Director of Corporate Development and Investor Relations of Baozhen. Please proceed, Wendy.

Thank you, operator. Hello, everyone, and thank you for joining us today. Our first quarter 2023 earnings release was distributed earlier and is available on our IR website. at ir.baozhen.com, as well as on Global Newswire Services. They have also posted a PowerPoint presentation that accompanies our comments to the same IR website, where they are available for download. On the call today from Baozhen, we have Mr. Vincent Chiu, Chairman and Chief Executive Officer, Mr. A-Se Yu, Chief Financial Officer and President of Baozhen E-Commerce, and Ms. Sanjui Zervib, president of Baozhen Brand Management. Ms. Qiu will review the business strategy and company highlights, followed by Ms. Yu, who will discuss the business development of Baozhen e-commerce and above our financial outlook. Then by Ms. Zervib to share more about Baozhen Brand Management. They will all be available to answer your questions during the Q&A session that follows. Before we begin, I would like to remind you that this conference call contains forward-looking statements within the meaning of the Security Exchange Act of 1934 and the U.S. Private Security Litigation Reform Act of 1995. These forward-looking statements are based upon management's current expectations and current market and operating conditions, unrelated to events that involve known or unknown risk, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the company's control, which may cause the company's actual results to differ materially from those in the forelooking statement. Further information regarding these and other risks, uncertainties, or factors is included in the company's filings with the US SEC and in announcements on the website of Hong Kong Stock Exchange. the company does not undertake any obligation to update any forelooking statement except as required and applicable law. Finally, please note that unless otherwise stated, all figures mentioned during this conference call are in RMB. It is now my pleasure to introduce our chairman and chief executive officer, Mr. Vincent Chu. Vincent, you'll have please.

Thank you, Wendy. Hello, everyone, and thank you all for your time. I'm excited about the transformation roadmap we have lined up for the next three years. All illustrated on slide number two. The expansion of Baozhen Group into three divisions, BEC, BBM, and BZI, is aimed at creating a virtuous ecosystem in which each division brings value to the others. For instance, BEC brings cutting-edge value-added services such as DM, logistics, and IT to BBM. While BBM enables BEC to have a deeper understanding of client needs, leading to continuously improved technologies and operations. Meanwhile, BZI facilitate BEC and BBM in the geographic expansion of brands. The three divisions complement and support one another in a healthy ecosystem to provide the most comprehensive one-stop services for our clients. I want to emphasize that technology is a cornerstone of our business transformation and success. In the past 15 years, we have leveraged our technology to innovate and build up a portfolio of integrated omnichannel fulfillment platforms. Our technology infrastructure enables our clients to unify their online and offline channels and conduct their business anytime, anywhere, and on any marketplaces. In recent quarters, regional service centers of BEC, supported by our customer service management system, Sani, have efficiently expanded to more cities and effortlessly added a wide range of services. RSCs have improved both service quality and cost efficiency for BEC. This is just one example of how technology empowers our business as we now embark on a second growth curve. Our advances in technology and digitalization form a strong foundation to empower the next generation of retail. Consumers now prefer brands that are modified to Chinese consumers' preferences and communication styles by closely monitoring trends and offering tailor-made updates and iterations. We aim to enable new retail experiences and supply chains that are more responsive to local needs. This empowerment applies to all three divisions. DBM is off to a great start. Since February the 1st, we began consolidating Gap China and the initial product progress is quite encouraging in the first quarter gap china generated 189 million in revenue and significantly narrowed its operating losses sandra will provide further details about bbm and the gap layer we fully believe that bbm is a game changer bzi is also beginning to take shape In February, we acquired a minority interest along with a board seat in Brand Lifestyle Asia Limited, a leading premium fashion retailer with a strong brand portfolio that includes Blue Dog and Roots. Ozwin and Phone Group, its parent company, have jointly set up a strategic technology committee to develop an enterprise-wide technology strategy and lead the digital transformation. We have already taken an exciting first step with the launch of an online store, littleground.com.sg in Singapore. We are also in the process of working with Brand Lifestyle for similar solutions elsewhere in Asia. This is an important first step for bringing our battle-tested technology to the global market. Our technology is an important piece of the foundation we are putting in place to build up our presence in a growing e-commerce market in SEA. Each of our three business lines is making solid progress, and we are confident in our business transition. My priorities for the next three years will be maintaining an appropriate organizational and incentive structure, and focusing on our technology, people, and culture. I will also take the technology journey for BCI. Ultimately, our priority at Baozhen is to achieve customer-centric, high-quality, sustainable business growth. Let me now pass the call over to Arthur for an update on BEC and review of our financials.