Fanhua Inc.

Thank you for standing by for FANHUA's fourth quarter and fiscal year 2022 earnings conference call. At this time, all participants are in a listen-only mode. All lines are in place on mute to prevent background noise. After the management's prepared remarks, there will be a question and answer session. Please follow the instructions given at the time if you would like to ask a question. For your information, the conference call is now being broadcasted live over the internet. Webcast replay will be available within three hours after the conference is finished. Please visit San Juan's IR website at ir.sanjuanholdings.com under the events and webcast section. Today's conference is being recorded. If you have any objections, you may disconnect at this time. I would now like to turn the meeting over to your host for today's conference, Ms. Oasis Jill, San Juan's Investor Relations Manager.

Good morning. Welcome to our fourth quarter in fiscal year 2022 earnings conference call. The earnings results were released earlier today and are available on our IIL website as well as on Newswire. Before we continue, please note that the discussion today will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The accuracy of this statement may be impacted by a number of business risks and uncertainties that could cause our actual results to differ materially from those projected or anticipated. Such risks and uncertainties include but not limited to those outlined in our filings with the SEC, including our registration statement on Firm 20F. We do not undertake any obligation to update this forward-looking information except as required under applicable law. Joining us today are our Chairman and Chief Executive Officer, Mr. Yi-Nan Hu, Chief Financial Officer, Mr. Peng Ge, Chief Operating Officer, Mr. Lee Chong Liu, and Board Secretary, Li Li Li. Mr. Liu will provide a review of our financial and operating highlights in the fourth quarter and fiscal year 2022, There will be a Q&A session after the prepared remarks. Now I will turn the call over to Mr. Liu.

Good morning and good evening. Thank you for joining today's conference call. China China China China China China In the future, the development trend of individual sales will be that individual sales organizations will move towards dispersion, and non-competitive support platforms will move towards concentration. With the professional organizations that support dispersion at the highest cost, we will eventually ensure high quality and low cost acquisition. The ultimate competition of the individual sales market in the future will be the competition of platforms, the competition of digital technology, and the competition of artificial intelligence.