111, Inc.

Hello, everyone, and thank you for joining 111's conference call today. On the call today from the company are Dr. Gong Yu, co-founder and executive chairman, Mr. Shunling Liu, co-founder, chairman, and CEO, Mr. Luke Chen, CFO of 111's major subsidiary, and Mr. Harvey Wong, COO. As a reminder, today's conference call is being broadcast live via webcast. The company's earnings press release was distributed earlier today and together with the earnings press release are available on the company's IR website. Before the conference call gets started, let me remind you that this call may contain forward-looking statements made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon management's current expectations and current market and operating conditions. and relate to events that involve known and unknown risks, uncertainties, and other factors, all of which could cause actual results to differ materially. For more information about these risks, please refer to the company's filings with the SEC. 111 does not undertake any obligation to update any forward-looking statements as a result of new information, future events, or otherwise, except as required under applicable law. Please note that all numbers are in RMB and all comparisons refer to year-over-year comparisons unless otherwise stated. Please also refer to the earnings press release for detailed information of the comparative financial performance on a year-over-year basis. With that, I will turn the call over to 111 CEO, Mr. Shengling Liu. Please go ahead.

Good morning and good evening, everyone. Thank you for joining our fourth quarter and the fiscal year 2022 earnings call. The information that will be discussing here are also provided in the slides that have been posted earlier today on the company's website. And I'd like to encourage you to download the presentation along with the earnings report at ir.111.com.cn. In today's call, I will talk about some of the latest regulatory developments in the healthcare industry and what it means to the company. I'll also cover our strategies for building growth momentum, improving operational efficiency, and strengthening supply base. Then I'll spend some time to speak about the performance of Q4 and the full year of 2022 before handing the call to Mr. Luke Chen,

who will walk you through our financial results. 2022 proves to be a very challenging year for many businesses, including 111.