Canaan Inc.

Ladies and gentlemen, thank you for standing by, and welcome to Canaan's Inc. Second Quarter 2025 Earnings Conference Call. At this time, all participants are on a listen-only mode. After the management-prepared remarks, we will have a question-and-answer session. Please note that this event is being recorded. Now, I'd like to hand the conference over to your speaker today, Ms. Quinn Lauper, Investor Relations Director of the company. Please go ahead, Quinn.

Thank you, Operator. Hello, everyone, and welcome to our earnings conference call. Joining us today are Chairman and CEO, Nanjing Zheng, and our CFO, Jin James Cheng. Leo Wang, Vice President of Capital Markets and Corporate Development, and Xu Zheng, Senior IR Manager, will also be available during the question and answer session. Our CEO will start the call by providing an overview of the company and performance highlights for the quarter. Our CFO will then provide details on the company's operating and financial results for the period before we open up the call for your questions. Before I begin, I would like to refer you to our safe harbor statement and our earnings press release. Today's call will include forward-looking statements. These statements include, but are not limited to, our outlook for the company and statements that estimate project future operating results and the performance of the company. These statements speak only as of today, and the company assumes no obligation to revise any forward-looking statements that may be made in today's press release, call, or webcast, except as required by law. These statements do not guarantee future performance and are subject to risks, uncertainties, and assumptions. please refer to the press release and the risk factors and documents we file with the Securities and Exchange Commission, including our most recent report on Form 20-S for information on risks, uncertainties, and assumptions that may cause actual results to differ materially from those set forth in such statements. In addition, during today's call, We will discuss both GAAP financial measures and certain non-GAAP financial measures, which we believe are useful as supplemental measures of the company's performance. These non-GAAP measures should be considered in addition to and not as a substitute for or in isolation from GAAP results. You can find additional disclosures regarding these non-GAAP measures, including reconciliations with comparable GAAP results in our earnings press release, which is posted on the company's website. And finally, please note that during the call, all dollar amounts refer to U.S. dollars. With that, I will now turn the call over to our chairman and CEO, N.G.

Jeng. Please go ahead.