Dingdong (Cayman) Ltd ADR

Good morning and good evening, ladies and gentlemen. Thank you for standing by and welcome to the Ding Dong Limited fourth 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 would now like to turn the conference over to the first speaker today, Nicky Chen, Director of Investor Relations. Please go ahead.

Thank you. Hello, everyone, and welcome to Ding Dong's fourth quarter 2023 earnings call. With me today are Mr. Changlin Liang, our founder and CEO, and Mr. Song Wang, our CFO. You can refer to our fourth quarter 2023 financial results on our IR website at ir.100.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 go through their prepared remarks, which will be followed by a question and answer session. Before we continue, I would like to refer you to our state property statement in our earnings press 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 earnings press release and filings with the SEC. I will now turn the call to our first speaker today, the founder and the CEO of Dingdong, Mr. Liang.

谢谢各位投资人,各位分析师,各位丁东买菜的朋友。 欢迎大家来参加丁东买菜2023年Q4的财报分析会。 Hello everyone and welcome to Dingdong's fourth quarter 2023 earnings call. 首先我想简单回顾一下丁东买菜2023年Q4以及全年的业绩情况。 As we continue to advance our strategic development strategy with priority on efficiency, we have not only achieved profit under the long gap of five consecutive seasons, but also achieved profit under the long gap standard for the first time in a season. In Q4, Dingdong Grocery previously received 44.9 billion yuan, GNV 55.3 billion yuan, and the interest rate increased by 30.6%. First, let me give you a brief overview of Dingdong's performance in Q4 and for the full year 2023.