LightInTheBox Holding Co., Ltd.

Hello, ladies and gentlemen. Thank you for standing by for Light in the Box's second quarter 2023 earnings conference call. At this time, all participants are in listen-only mode. After management's prepared remarks, there will be a question and answer session. Today's conference call is being recorded. I will now turn the call over to your host, Ms. Jenny Kai. Please go ahead, Jenny.

Thank you, operator. Hello, everyone, and welcome to Lighting the Box Second Quarter 2023 Earnings Conference Call. The company's earnings results were released via Newswell Services earlier today and are available on the company's IR website at ir.lightingthebox.com. On the call from Lighting the Box today are Mr. Jian He, Chairman and CEO, Ms. Yuan Junye, Chief Financial Officer, and Ms. Wenyu Liu, Chief Growth Officer. Mr. He will provide an overview of the company's strategies and recent developments, followed by Ms. Ye, who will go over its financial results. Following our prepared remarks, we'll open the call to questions. Before we proceed, please note that today's discussion 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 the company's current expectations. To understand the factors that could cause results to materially differ from those in forward-looking statements, please refer to the company's firm 20S filed with the Securities and Exchange Commission. The company does not assume any obligation to update any forward-looking statements, except as required under applicable law. Now I'd like to turn the call over to Lighting the Box Chairman and CEO, Mr. He. Please go ahead.

Good morning, everyone. Thank you for joining our second quarter 2023 earnings conference course today. We are pleased to deliver strong operational and financial performance for the second quarter amid a complex macro environment. We achieved the highest quarterly revenue in our history, primarily driven by apparel sales growth of over 50% over one year ago. Meanwhile, Our efforts to enhance operating efficiency paid off evidenced by improved profitability and its fulfillment of GA expenses as a percentage of revenue at an all-time low. Furthermore, our cash balance was $95 million as of the end of this quarter, illustrating our robust free cash flow generation ability. Our mission is to create a better lifestyle for consumers worldwide by offering quality products at attractive prices with a convenient and modern online shopping experience. To position ourselves for success in the highly competitive apparel retail markets, we leverage our expertise and tech capabilities to continually refine and develop our brand portfolio. Recently, we refreshed our core brand values to gain traction with existing and new customers. First, embrace individuality. Everyone is unique and irreplaceable. Thus, we are dedicated to empowering our customers to ready their confidence through our clothing. Regardless of their race, age, or body shape, Second, self-expression. We strive to curate a diverse fashion experience. The reason is our consumers' personal style. Third, colorful. Vibrant colors always bring joy and confidence to our target audience. And the last but not least, environmental consciousness. The concepts made to order and the data driven leads our design philosophy as we try our best to create a balance between fashion and the environment. We believe these ideas relate strongly with our target customers and allow us to engage them on a deeper level. In addition, Our data analysis capabilities empower us to timely capture consumers' preferences and needs. Our in-house design team is internationally fashion-credential, then designs fashionable, fashionably tailored apparel according to those dynamic customer desires. Furthermore, our supply chain system ensures steep product output and standards. and our strong fulfillment system facilitates a smooth and satisfying shopping experience for consumers. What's more, we conduct each step in the process with maximum efficiency through our advanced technologies, improving our overall operation efficiency. As we move into the third quarter 2023, we are seeing the macroeconomic turbulence together with normal seasonality in the apparel sector is impacting our top-line performance. Lastly, we will continue to execute our proven business strategy and hone our core competitive advantages to navigate the evolving market as we strive to deliver sustainable long-term value to all our stakeholders. With that, I will now hand the call over to Yuanjun to go through our financial results.