Phoenix New Media Limited

Thank you, Amber. Welcome to Phoenix New Media's earnings conference call for the second quarter of 2025. Today's call will begin with an overview of our quarterly results, followed by a Q&A session. Our quarterly financial results and the webcast of this conference call are available on our website at ir.iphone.com. Before we continue, please note the Safe Harbor Statement in our earnings press release which applies to any forward-looking statements made during this call. Unless otherwise stated, all figures mentioned are in the RMB. Joining me today are our CEO, Mr. Yusheng Sun, and our CFO, Mr. Edward Liu. I will now pass the call to Mr. Sun for his opening remarks. I will provide translation as needed. Mr. Sun, please speak.

Thank you for attending today's phone call meeting. In the past quarter, the external environment has been full of challenges, but we have remained stable. The entire team is focused on several key directions and continues to work hard. On the one hand, we are constantly polishing the professionalism and influence of the content. On the other hand, we are also exploring more diverse cooperation and commercialization pathways. We are very pleased to see that these efforts have gradually turned into specific results. Not only did we gain positive feedback from users, but we also achieved growth in our business. Especially in the second quarter, we made a lot of breakthroughs in terms of content transmission, social responsibility, and brand influence. These accumulations laid the foundation for the company's next stage of development. Thank you all for joining today's call.

The past quarter has been marked by challenges, but we managed to maintain steady momentum. Our team remained focused on a few key priorities, enhancing the depth and impact of our content. while also exploring more diversified opportunities for collaboration and monetization. We are pleased to see these efforts gradually translating into tangible results, reflected in positive user feedback and business growth. In particular, during the second quarter, we made meaningful progress in content dissemination, social responsibility, and brand influence. These achievements have laid a solid foundation for our next phase of development. Now I'll hand over to Edward for a more detailed update on our business progress and financial results.