Dingdong (Cayman) Ltd ADR

Good morning and good evening, ladies and gentlemen. Thank you for standing by, and welcome to the Ding Dong Limited First Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. Please note that this event is being recorded. I will now turn the conference over to the first speaker today, Nikki Zhang, Director of Investor Relations. Please go ahead, sir.

Thank you. Hello, everyone, and welcome to Dingdong's first quarter 2023 earnings call. With us today are Mr. Changlin Liang, our founder and CEO, and Ms. Le Yu, our CFO. You can refer to our first quarter 2023 financial results on our IR website at ir100.me. You can also access a replay of this call on our IR website when it becomes available a few hours after its conclusion. For today's call, management will provide their prepared remarks first, and then we will be hosting a question and answer session. Before we continue, I would like to refer you to our State Harbor Statement in our Learning Express release. which also applies to this call. As we will be making forward-looking statements, please note that all numbers stated in the following management prepared remarks are in RMB terms. And we will discuss non-GAAP measures today, which are more thoroughly explained and reconciled to the most comparable measures reported in our early release and findings with the SEC. I will now turn the call to our first speaker today, the founder and the CEO of Dingdong, Lisa Liang.

Hi everyone, welcome to the Q1 Q3 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 foreign Thank you, everyone. And welcome to Dingdong's Q1 2023 earnings conference call. Let's first review the quarter's operational results.