Tarena International, Inc.

Ladies and gentlemen, thank you for standing by and welcome to the fourth quarter and full year of 2022 Tarina International Incorporated Earnings Conference Call. All participants are in a listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I must advise you that today's conference call is being recorded today. March 28, 2023. I would now like to hand the conference call over to your first speaker today, Ms. Sylvia Yang, the Investor Relationship Manager. Thank you. Please go ahead.

Thank you, Operator. Hello, everyone, and welcome to Tarina's Earnings Conference Call for the fourth quarter and fourth year of 2022. The company's earnings results were released earlier today and are available on our IR website, ir.edu.cn, as well as our newswire services. Today, you will hear from Ms. Nancy Ying Sun, our CEO, and Ms. Ping Wei, our CFO, who will take you through the company's operational and financial results for the fourth quarter and fourth year of 2022, and give revenue guidance for the first quarter of 2023. After their prepared remarks, Nancy and Ms. Wei will be available to answer your questions. Before we continue, please note that the discussion today will contain certain forward-looking statements made under the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations. Terena does not assume any obligation to update any forward-looking statements except as required under applicable law. Also, please note that some of the information to be discussed includes non-GAAP financial measures as defined in Regulation G. The U.S. GAAP financial measures and information reconciling the non-GAAP financial measures to Terena's financial results prepared in accordance with U.S. GAAP are included in Terena's earnings release. which has been posted on the company's IR website, ir.tdu.cn. Finally, as a reminder, this conference call is being recorded. In addition, a webcast of this conference call is available on Terena's Investor Relations website. I will now turn the call over to Ms. Nancy Ying Sun, the CEO of Terena.

Thank you, Yang Shuang. Thank you, Sylvia, and thanks everyone for joining us. During this time, the dynamic change of the epidemic has added a seasonal impact of the Chinese Spring Festival, which has caused a certain temporary impact on our business. Our offline center has been closed for nearly two months. A considerable number of teachers and students have suspended classes due to the epidemic or illness. Some employees have also been unable to go to work normally for a while. The month around the end of 2022 was a challenging period for us as COVID-19 dynamics and the Chinese New Year temporarily impacted our daily operations.