Gaotu Techedu Inc.

Good day and welcome to the Gautu TechEDU Inc. 4th Quarter and Fiscal Year 2023 Earnings Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by 0. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then 1 on your touchtone phone. To withdraw your question, please press star, then two. Please note, this event is being recorded. I would now like to turn the conference over to Ms. Catherine Chen, Head of Investor Relations. Please go ahead.

Thank you, Operator. Good evening, everyone. Thank you for joining GAL2's fourth quarter and fiscal year 2023 earnings conference call. My name is Katherine, and I'll help host the earnings call today. GAL2's earnings release for the quarter was distributed earlier and is available on the company's IR website at ir.gal2.cn, as well as through PR Newswear Services. Joining the call with me tonight from GAL2 Senior Management is Mr. Larry Chen, GAL2's founder, chairman, and executive chief officer. and Ms. Shannon Shen, Galtu's Chief Financial Officer. Larry will first provide the business highlights for the quarter, and then afterwards, Shannon will discuss our financial performance in more detail. Following their prepared remarks, we'll open the floor to questions from analysts. Before we begin, I'd like to remind you that this conference call will contain forward-looking statements. made under the safe harbor provision of the U.S. Private Security Litigation Reform Act of 1995. These forward-looking statements are based upon management's current beliefs and expectations, as well as the current market and operating conditions. And they involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict, and many of which are beyond the company's control. and may cause the company's actual results, performance, or achievements to differ materially from those contained in any forward-looking statement. Further information regarding this and other risks is included in the company's public filing with the USFCC. The company does not undertake any obligations to update any forward-looking statement, except as required under applicable law. During today's call, Management will also discuss certain non-GAAP measurements for comparison purpose only. For definition of non-GAAP financial measures and reconciliation of GAAP to non-GAAP financial measures.

As a reminder, this conference is being recorded.