Yuanbao Inc.

are Mr. Rui Fang, our Chairman and Chief Executive Officer, and Mr. Rui 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 the CEO. Mr. Fang, please go ahead, sir.

Hello, everyone. Welcome to Yuanbao's third quarter financial report conference in 2025. This quarter, we continued to continue the high-quality growth trend. Multiple core indicators echoed historically high. The total income increased by 33.6%, reaching RMB 11.58 billion. The net profit increased by 51.3%, to RMB 3.7 billion. We have maintained profit for 13 consecutive seasons. Until the end of the season, the company's cash reserve reached RMB 37.5 billion, which has provided strong financial support for our continued promotion, technical development, capital operation, and strategic expansion. As for the growth of performance, the core is the result of continuous optimization of the various stages of our operations. In the third quarter, the new supply chain reached Hello, everyone. Thank you for joining our third quarter 2025 R&S conference call.

This quarter, we continued our trajectory of high-quality growth with several core performance indicators hitting new record highs. In the third quarter, total revenues grew 33.6% year-over-year to RMB 1.16 billion. Net income surged 51.3% year-over-year to RMB 370 million. This marks our 13th consecutive quarter of profitability. As of the end of September, Our cash reserves stood at RMB 3.75 billion, providing a solid financial foundation for our continued technological innovation, capital deployment, and the strategic expansion. These strong results are a direct testament to our disciplined execution and continuous operational refinement. In the third quarter, we issued 8 million new policies with a 41.8% year-over-year increase. This momentum was powered by our enhanced AI and data capabilities, which have improved the precision of our consumer targeting and deepened our understanding of consumer needs. These insights feed directly back into our product innovation and scientific pricing processes, helping us build a distinct competitive edge.