Yunji Inc.

Good morning and good evening, ladies and gentlemen. Thank you for standing by, and welcome to Yunji's first half 2026 earnings conference call. With us today are Mr. Shanglue Xiao, Chairman and Chief Executive Officer, and Ms. Nan Song, Senior Financial Director. As a reminder, this conference call is being recorded. Before we start, please note that this call will contain forward-looking statements. within the meeting of the Private Securities Litigation Reform Act of 1995 that are based on the company's current expectations and current market operating conditions and relate to events that invoke known or unknown risks, uncertainties, and other factors of ENG and its industry. These forward-looking statements can be identified by terminologies such as will, expect, anticipate, continue, or other similar expressions. For a detailed discussion of these risks and uncertainties, please refer to the company's related documents filed with the US SEC. Any forward-looking statements that the company makes on this call are based on assumptions as of today and are expressly qualified in the entirety by cautionary statements, risk factors, and details of its filing with the SEC. The company does not undertake any obligation to update these statements, except as required under applicable law. With that, I will now turn the call over to Mr. Shanglue Xiao, Chairman and CEO of Yunji. Please go ahead, sir.

Hello, investors, analysts, and friends. Thank you for your continued support and attention to Yunji. In the first half of 2026, the market environment was still challenging, but we adhered to the strategic positioning Hello everyone, welcome to ING's earnings course. Thank you for your continued interest and support. The market environment remains challenging in the first half of 2026, but we stayed firmly committed to our strategic positioning as a leader in organic living.

advancing our products and experience through energy strategy as we continue to deepen our presence in the organic health living market. I will now walk you through the company's financial performance and strategic execution.