Kuke Music Holding Limited

Good morning and good evening, ladies and gentlemen. Welcome to Cooke Music Holding Limited first quarter 2022 earnings conference call. At this time, all participants are in a listen-only mode. We'll be hosting a question and answer session after management's prepared remarks. I will now turn the call over to the first speaker today, Ms. Jane Zuo, Investor Relations Director of Cooke Music Holding Limited. Please go ahead, ma'am.

Thank you, Operator. Hello, everyone. Welcome to our fourth quarter 2022 earnings call. On the call with me today are Mr. He Yu, founder, chairman, and CEO, Ms. Patricia Sun, president, and Mr. Tony Chen, chef of KUKA. Mr. Yu will share with you our views on the business model and strategic focus. Ms. Sun will then review our business operations, and then Tony will discuss our financial details. Afterwards, will take questions from the audience. Before we start, please note that this call may contain forward-looking statements made pursuant to the safe harbor provision for the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and observations that involve known and unknown risks, uncertainties, and other factors not under the company's control. which may cause actual results, performance, or achievements of the company to be materially different from the results, performance, or expectations implied by those forward-looking statements. All forward-looking statements are expressively qualified in their entirety by the cautionary statement and risk factors included in the company's filings with the SEC. The company undertakes no duty to revise or update any forward-looking statements or selected events or circumstances after the date of this conference call. As a reminder, this conference call is being recorded. In addition, a live and archived webcast of the conference call will be available on KUKA Investor Relations' website at ir.kuka.com. You can check out our full earnings release on our website as well. It's now my pleasure to introduce Mr. He Yu, founder, chairman, and CEO of KUKE.

Thank you, Jen. Good evening and good morning, everyone. Thanks for joining us and welcome to our first quarter 2022 earnings call. Before sharing our Q1 financial highlights, I'd like to talk about the fundamentals of our strategy. First is our immense focus on classic music service as demonstrated by Cooke's vision. We aim to expand the influence of classic music in China and throughout the global community. Our business segments include licensing and subscription services. smart music learning solutions, live music event service, and new initiatives such as NFT technologies. These business segments are built upon the strong foundation of our classic music service. Second is embracing the growth of China according to the latest 2022 RFPI reports. The Chinese recorded music market grew by 30.4% in 2021, which is above the average global growth of 18.5%. This puts China being one of the fattest growing markets to No. 6 in terms of total recorded music revenues. And No. 3 in terms of streaming revenues. Of the global music markets, respectively. As Naxos' business partner in China, we believe the Chinese market has great potential for growth due to its large population base of classic music. Through the expansion of Cook's and Naxos' expertise, we will continue to unlock such potentials and share the charm of classic music with all music lovers in China. Third is expanding our global presence. On the one hand, we are working ever more closely with Nexus to enhance our relationship with artists and performers around the world. On the other hand, we have also developed multiple initiatives to grow our global presence. Fourth is cultivating technology. KUKA is a company that thrives at the intersection of art and technology. We embrace innovations to advance the development of the entire industry. This could be demonstrated by our recent investment in Kolo, an NFT platform for classic music in the metaverse. Now, let me turn the call. Over to our president, Patricia, to share with you more details on each business segment.