Yuanbao Inc.

Ladies and gentlemen, good day and welcome to Yuanbao Inc's fourth quarter and fiscal year 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 not guarantees of future performance and are subject to certain risks and uncertainties, assumptions, and other factors. Some of these risks are beyond the company's 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 a definition of non-GAAP financial measures and a reconciliation of GAAP to non-GAAP financial results, Please see the earnings release issued earlier today. Joining us today on the call from Yuanbao'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. All figures will be in RMB unless otherwise noted. 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年第四季度及全年财报电话会。 2025年四季度,我们以强劲的业绩表现为全年划上了圆满的句号,也为未来的稳健增长奠定了基础。 The total revenue of the quarter is RMB 11.75 billion, which is 32.2%. The net profit is RMB 3.37 billion, which is 15.4%. The net profit rate is 28.7%. So far, Yuanbao has achieved profit in 14 consecutive quarters. In the whole year, the company's total revenue is RMB 3.73 billion, with 33.1% growth. The net profit of RMB is 3.08 billion yuan, with 51% growth. The net profit rate increased by 3.5% last year, reaching 29.9%. This significant growth has fully verified the sustainability of our business model, as well as our success in scale operation and detailed management. By the end of the year, Hello everyone, thank you for joining us today for our first quarter and full year 2025 earnings conference call.