Kingsoft Cloud Holdings Limited

Thank you for standing by. Welcome to the Kingsoft Cloud's fourth quarter and full year 2025 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 and 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 and 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Nicole Shan, IRD of Kingsoft Cloud. Please go ahead.

Thank you, operator. Hello, everyone, and thank you for joining us today. Kingstop Cloud's fourth quarter and fiscal year 2025 earnings release was distributed earlier today and is available on our IR website at ir.ksyun.com, as well as on QR Newsware services. On the call today from Kingstop Cloud, we have our Chairman and CEO, Mr. Liu Tao, Staff of Miss VE, Senior Vice President, Mr. Liu Tao, Senior Vice President, Mr. Tian Kaiyan, Vice President, Ms. Wang Shuang, and Associate Vice President, Mr. Kaiyan. Ms. Zou will review our business strategies, operations, and other company highlights, followed by Ms. Li, who will discuss the financial performance. They will be available to answer your questions during the Q&A session that follows. There will be consecutive integrations. Our integrations are for your convenience and reference purpose only. In case of any discrepancy, management statement in the original language will prevail. Before we begin, I'd like to remind you that this conference call contains forward-looking statements within the meaning of Section 21E of the Security Exchange Act of 1934 as amended and as defined in the U.S. Private Security Solicitation Reform Act of 1995. These forward-looking statements are based upon management's current expectations and the current market and operating conditions, and relate to U.N. standing for known or unknown risks, uncertainties, and other factors. of which are difficult to predict and many of which are beyond the company's control, which may cause the company's actual results, performance, or achievements to differ maturely from those in the forward-looking statements. Further information regarding these and other risk uncertainties or factors are included in the company's filings with the US SEC. The company does not undertake any obligation to update any forward-looking statements as a result of new information, future events, or otherwise accept as required under applicable law. Finally, please note that unless otherwise stated, all financial figures mentioned during this conference call are denominated in RMB. It is now my pleasure to introduce our Chairman and CEO, Mr. Zou. Please go ahead. Hello, everyone.

Welcome to the 4th quarter of the year of Jin Tianyun, the 4th quarter of the year of Jin Tianyun, the 4th quarter of the year of Jin Tianyun, the 4th quarter of the year of Jin Tianyun, the 4th quarter of the year of Jin Tianyun, The AI industry across the globe has experienced a series of ups and downs. From deep-seekers to multi-multi-sota models, from giant AI to open cloud self-understanding, AI is evolving in an unstoppable way, connecting from models to algorithms, from algorithms to industries. In 2025, Cloud Holdings will continue to go high-end and continue to develop. Embracing opportunities in the AI wave, gaining growth in time. So, Kaiyan Tian So, Kaiyan Tian Thank you for watching. The revenue from Xiaomi Jinshan Ecotourism is increased by 63% The total revenue ratio has been further improved to 29% In the whole year of 2025, our relationship with Xiaomi and Jinshan is up to 94% Another aspect Finally, the profit level continues to increase Hello everyone and thank you and welcome to Kingsoft Cloud fourth quarter and fiscal year 2025 earnings call. I am Tao Zou, CEO of Kingsoft Cloud.