Yuanbao Inc.

Ladies and gentlemen, good day and welcome to Yuanbao Inc's second quarter 2025 earnings conference call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Ms. Stella Liu, Investor Relations and Strategy Associate Director. Please go ahead.

Thank you, operator. Please note that today's discussion will contain forelooking statements. made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements are now guarantees of future performance and are subject to certain risks and uncertainties, assumptions, and other factors. Some of these risks are beyond the complex control and could cause actual results to differ materially from those mentioned in today's press release and discussion. A general discussion of the risk factors that could affect Yuanbao's business and financial results is included in certain filings of the company with the Securities and Exchange Commission. The company does not undertake any obligation to update this forward-looking information, except as required by law. During today's call, management will also discuss certain non-GAAP financial measures. For definition of non-GAAP financial measures and the reconciliation of GAAP to non-GAAP financial results, please see the earnings release issued earlier today. Joining us today on the call from Yuan Bao's senior management are Mr. Ray Fang, our chairman and chief executive officer, and Mr. Ray Wan, our chief financial officer. Mr. Fang will deliver his remarks in Chinese, followed by an English translation. We will conclude the call with a Q&A session. As a reminder, this conference is being recorded. In addition, a webcast replay of this conference call will be available on Yuanbao's investor relations website. I will now turn the call over to our Chairman and CEO. Mr. Fang, please go ahead, sir.

大家好,欢迎参加元宝2025年第二季度财报电话会。 本季度,我们再次以出色的业绩表现印证了 In the second quarter, the company's total revenue increased by 25.2% with a 10.3% growth rate, reaching RMB 10.7 billion, setting a new record. The net profit was increased by 55.6% to RMB 3.05 billion with a net profit of 28.5%. This means that we have maintained stable profits for 12 consecutive quarters. As of the end of the second quarter, our cash reserves reached RMB34.2 billion. We have established a solid foundation for future strategic expansion and technological innovation. We have highlighted financial results, which is due to the continuous breakthrough of the operating end. This quarter, the total number of new insurance bills broke 7.9 million. The size of users and market penetration continued to rise. This series of results to fully verify our ahead-of-the-line deployment on the technical ground and the continuous release of profit and loss.