JD.com, Inc.

Hello and thank you for standing by for JD.com's first quarter 2023 earnings conference call. At this time, all participants are in the listen-only mode. After management's prepared remarks, there will be a question and answer session. 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, Sean Zhang, Director of Investor Relations. Please go ahead.

Thank you. Good evening and good day, everyone. Welcome to JD.com first quarter 2023 earnings conference call. For today's call, CEO of JD.com, Mr. Lei Xu, will kick off with opening remarks. Our CFO, Ms. Sandy Xu, will discuss the financial results. After that, we'll open the call to questions from analysts. Let me quickly cover the safe harbor. Please be reminded that during this call, our comments and responses to your questions reflect management's view as of today only. We'll include forward-looking statements, and please refer to our latest Safe Harbor statement in the earnings press release on our IR website, which applies to this call. We'll discuss certain non-GAAP financial measures. Please also refer to direct consideration of non-GAAP measures to the comparable GAAP measure in the earnings press release. Also, please note, all figures mentioned in this call are in RMB. unless otherwise stated. Now, let me turn the call over to Mr. Xu, our CEO.

Hello everyone, this is Xu Lei. Thank you for joining JD.com's first quarter 2023 earnings call. In a face of profound changes in external environment and the industry, together with our own proactive adjustments to our business, JD achieved a high quality performance in Q1.