LightInTheBox Holding Co., Ltd.

Good morning, and welcome to the third quarter of 2022 earnings conference call for Light in the Box Holding Company Limited. Today's conference is being recorded. At this time, I'd like to turn the call over to Mr. Rene Van Jetten for opening remarks and introductions. Please go ahead, sir.

Thank you, Nick. Hello, everyone, and welcome to Light in the Box third quarter 2022 earnings conference call. The company's earnings results were released earlier today and are available on the company's IR website as well as through PIA and LooseWire. On the call from right in the box are Mr. Jian He, CEO, Ms. Yangjun Ye, Chief Financial Officer, and Ms. Wenyu Liu, Chief Growth Officer. Mr. He will give an overview of the company's strategies and recent developments followed by Messier, who will go over the financial results. They will all be available for the Q&A session that will follow. Before we proceed, I would like to remind you of your safe harbor statement. Please note that the discussion today may contain certain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations. To understand the factors that could cause results to materially differ from those in the forward-looking statements, please refer to our Form 20-F filed with the Securities and Exchange Commission. We do not assume any obligation to update any forward-looking statements, except as required under applicable law. At this point, I'd like to turn the call over to Mr. He. Mr. He, please go ahead.

Thanks, Yuanlin. Thank you everyone for joining us today. We delivered a solid financial performance in the third quarter of 2022. despite a continually challenging global macroeconomic environment. Our revenue growth accelerated up 23% year-over-year to $121 million, compared to growth of 8% in the previous quarter, thanks to our strategic changes in product mix and improving operating efficiency. We are able to further narrow our operating loss and deliver positive adjusted EBITDA. We are pleased with our execution and we are further executed on our proven growth strategy in the coming quarter. As indicated during our previous learning course, we have determined that apparel is the most important category for us and we have deployed our resources to improve all aspects to our operations, resulting in remarkable growth in apparel sales. During the third quarter, revenues from apparel increased 61% year-over-year to $100 million, representing 82% of total revenues, up from 63% in the same quarter of 2021. This lifted our overall gross margin to 80%. 58%, compared with 45% a year ago. In summary, there are just few uncertainties which may impact the development of our industry in the short term, including foreign exchange volatility and the market global economic outlooks. We are confident in our prospects and execution capabilities. as we already withstood some severe tests in the past few quarters. We aim to invest more for the benefit of our customers over the long term, while driving operational efficiency improvements. Looking forward, business growth and customer experience improvements remain our priorities. We are embarking on a campaign to reposition our brand among our valued customers in line with our product strategy, focusing mainly on apparel. I will now turn the call over to Yuanjun to go through the financial results.