uCloudlink Group Inc.

Good day and welcome to the UCloud Link Group, Inc. fourth quarter and full year 2024 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on a touch-tone phone. To withdraw your question, please press star, then two. Please note this event is being recorded. I would now like to turn the conference over to Daniel Gao. Please go ahead.

Hello, everyone, and thank you for joining us on Euclid's fourth quarter and four-year 2024 earnings call. The earnings release and our earnings presentation are now available on our IR website at ir.euclid.com. Joining me on today's call are Mr. Zhi Ping Peng, co-founder and chairman of the board of directors, Mr. Chao Hui Chen, co-founder, director, and chief executive officer, and Mr. Yi Meng Shi, chief financial officer. Mr. Chen will begin with an overview of our recent business highlights. Mr. Shi will then discuss our financial and operational highlights for the quarter. They will all be available to take your questions in the Q&A section that follows. Before we proceed, please note that this call may contain forward-looking statements made pursuant to the safe harbor provisions of the Privy Secretary's Litigation Reform Act of 1995. These forward-looking statements are based on measurements expectations and observations that involve known and unknown risks, uncertainties, and other factors not under company's control, which may cause actual results, performance, or treatments of the company to be massively different from the results, performance, or expectations implied by these forward-looking statements. All forward-looking statements are expressly qualified in their entirety by their contemporary statements, risk factors, and the details of the company's feelings with the SEC. The company does not assume any obligation to reverse or update any forward-looking statements as a result of new information, future events, change in market conditions or otherwise accept as required by law. Please also note that Euclid's earning press release and this conference call include discussions of undoubted GAAP financial information and undoubted non-GAAP financial matters. Euclid's press release contents are recalculation of the un-audited non-GAAP measures to the most directly comparable un-audited GAAP measures. I will now turn the call over to Mr. Chen. Please go ahead.

Thank you, Daniel, and good morning or evening, everyone. We close out the year with a solid performance as our expanding global meat ecosystem continues to gain growth momentum. Revenues in year 2024 increased 7.1% year-over-year to US$91.6 million, with net income US$4.6 million and net cash flow from operations of US$9.2 million. representing a significant 41.2% increase from the last year. Total revenue during the year from the mainland China region in particular increased 97.4% year-over-year, indicating that Our uClouding 1.0 international data connectivity solutions have been more widely adopted by Chinese consumers and strengthening our leading position in the long-wind market. Total revenue during the first quarter, which is typically impacted by seasonality, exceeds the third quarter with peak summer activity. maintaining a consistent upward growth trajectory. Year 2024 marked the 10-year anniversary since our founding. Our comprehensive connectivity services, powered by CloudThin and the HyperCon solutions, cover over 160 more countries across six continents. We have served 2,080 at 818 business partners in 62 countries and regions, indicating a growing ecosystem of global meat solutions for daily use. While this is impressive, we have much more in store for year 2025. Our global meat ecosystem continues to thrive as we broaden our portfolio of solutions to service a wider variety of user needs. As artificial intelligent AI becomes more widespread, we have begun deploying it internally to enhance operational efficiency and integrated it into a number of our solutions to improve the user's experience. ensuring seamless connectivity for users globally. In addition to AI, we're leveraging our proprietary HyperCon, Cloud Theme, and SysTech positioning technologies to break barriers in connectivity, creating innovative solutions that enhance digital experience worldwide. and revolutionize connectivity for IoT, people, and pets. At MWC 2025, we showcase these new and exciting technologies that have been integrated into innovative solutions that will further strengthen the tailwinds behind our broader series of glaucoma and glaucoma insight solutions. Furthermore, at the CES year 2025, our Unicorp was honored with the Best of the CES 2025 Breakthrough Award by Android Authority. Underscoring our commitment to innovation, In a significant milestone, one of UCloud Link's subsidiaries was among the first batch of the 13 foreign-invested companies, alongside affiliates of renowned multinational corporations such as Deutsche Telekom, Siemens, Airbus, and HSBC, to receive approval from China's Ministry of industry and information technology, MIIT, for pilot operations of telecommunication services. These grants ask the ability to provide internet access and information services in China, making a pivotal step in expanding our global footprint and delivering cutting-edge connectivity solutions. First, let me start with our Glaucoma Live and PET connectivity solutions where we just unveiled PETphone at MWC 2025, a revolutionary addition to the digital ecosystem. The world's first smartphone for PET offers funds API pet interaction, safety, including the six tech global positioning, health, AI smart guardians, and the community engagement, global pet community. According to Morgan Stanley, annual spending growth in the pet industry could reach 7% by year 2030, year by year, I think so. Translating into the total industry spending will increase to $261 billion, reflecting the enormous opportunity we are tapping into with this solution. PatFone makes a great addition alongside Loan Park, Unicor, KeyTrack into our portfolio. Turning to global Internet of Things IoT connectivity solutions, where we unveil the CloudThinkKit all-in-one IoT solution at MWC year 2025. Our CloudThinkKit is a revolutionary plug-and-play IoT solution designed to deliver instant global full-speed 4G and 5G connectivity for IoT and smart devices. These innovative solutions can seamlessly integrate into existing devices with SIM card slots, such as smartphone, CPE loader, and IoT-enabled hardware. By simplifying insert cloud SIM kit into the SIM slot, users can unlock global connectivity without the need for additional hardware or software modifications. modifications make it an ideal solution for a wide range of applications and scenarios. With the combination of the cloud theme kit, our pioneering software cloud theme technology, and our innovative theme car solutions, GloCoMeans IoT offerings now comprehensively address the connectivity challenges across all IoT scenarios. Whether for the existing legacy devices or new incremental markets, our solution provides seamless, reliable, and scalable connectivity. This breakthrough not only enhances the versatility of IoT applications, but also significantly expands the market potential for global meat. positioning us as a leader in global IoT connectivity solutions. Following the success of small-scale commercial applications of our soft cloud technology with several leading manufacturers in the security camera, dashboard camera, other related sectors, The commercial application of our Glocomi IoT solutions scaled up significantly during the first quarter. Glocomi IoT user numbers are growing rapidly and are expected to ramp up going forward, allowing us to demonstrate the strengths and the capabilities of our solutions to an even broader audience across the IoT sectors. For our global meat theme business, we just unveiled eTheme Trio at NWC year 2025, a revolutionary leap in theme technology, positioned as the best second theme car you can have. It enhanced both domestic and international car ages, providing consumers with a single theme solution for seamless local and global connectivity. Additionally, it empowers Tier 2, Tier 3 operators and mobile watch operators by addressing challenges such as poor network performance, limited international domain, and inability to build independent networks, enabling them to deliver superior services and expand their market reach. This eliminates the need for costly international looming and provides users with reliable high-speed connectivity across mobile network operator networks. Lastly, for our people-centric connectivity, our GlocalMe Mobile Flix broadband business line, where we just unveiled the new goal G50 Max has a HyperCon 5G mobile Wi-Fi hotspot with AI-driven sky-to-ground connectivity at NWC 2025. This mobile Wi-Fi hotspot improves network quality with AI-powered real-time congestion detection offering a seamless and better connection experience regardless of where you are. Our advanced HyperCon technology delivers hyper-local and global internet access, ensuring users have high-speed connections and reliable networks wherever they go, without the limitation of the traditional roaming or carrier restrictions. At NWC in 2025, we unveiled the revolutionary upgrade U40. capable of delivery speed three times faster than traditional 4G device. These groundbreaking solutions seamlessly integrate Wi-Fi networks across home, airport, cabin, office, cafe, and mall, while also being the world's first device to support in-flight Wi-Fi connectivities. We also make breakthrough in developing retail channel for our GlobalMe mobile fixed broadband and life solution during the quarter by signing cooperation agreements with North American largest airport retail channel and making them widely available across airport retail located in North America. We are now actively negotiating to expand this partnership across Europe soon and looking to replicate this process through other channels to expand their exposures to a broader audience. Following our successful launch at MWC25, all four product lines are now market-ready with strong interest from partners including global pet store chain who had initiated high-level discussion, signaling significant market expansion potential. Our goal is to aggressively promote this line toward a full marketplace vision. Glocomi Live, including the platform, arms for tens of millions of users. GlocalMe themes and IoT target hundreds of millions, and GlocalMe mobile broadband strives for millions of users, driving impactful growth across all business lines. With these innovative business lines increasingly creating new revenue streams fading into our marketplace. Our user base is diversifying and scaling up. We have an exciting year 2025 ahead of us with many more solutions in the pipeline where we will further consolidate the convenient, secure, and premium connectivity between mobile internet, fixed broadband, Wi-Fi, and satellite communications with centralized AI management. With all these innovative solutions increasingly contributing to new revenue streams and further scaling up our user base, I'm confident we are on the right track to build an integrated and comprehensive global mobile data traffic sharing marketplace that will create long-term sustainable value for the shareholders. With the optimism for the future in mind, I will conclude with our guidance for the next quarter and the year. For the first quarter of year 2025, we expect total revenue to be between U.S. dollar 80.2 million and U.S. dollar 90.5 million, representing an increase of 0.6 percent to 7.7 percent compared to the same period of the year 2004. For the year 2005, we expect total revenue to be between U.S. dollar 95 million and U.S. dollar 130 million, representing an increase of 3.7 percent. 100% and to 41.9% from year 2004. I will now turn the call over to Mr. Si.