LightInTheBox Holding Co., Ltd.

Hello, ladies and gentlemen. Thank you for standing by for Light in the Box's fourth quarter and full year 2023 earnings conference call. At this time, 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 conference call over to your host, Ms. Jenny Cai. Please go ahead, Jenny.

Thank you, Operator. Hello, everyone, and welcome to Lighting the Box fourth quarter and four-year 2023 earnings conference call. The company's earnings results were released via Newswire 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. Yan 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 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 factors that could cause results to materially differ from those in forward-looking Please refer to the company's Form 20-F 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. Please also note that that in the box earnings press release and this conference call include discussions of audited GAAP financial measures as well as audited non-GAAP financial measures. Please refer to the company's earnings press release, which concerns a reconciliation of the audited non-GAAP measures to the audited GAAP measures. Now, I'd like to turn the call over to Light in the Box chairman and CEO, Mr. He. Please go ahead.

Good morning and good evening, everyone. Thank you for joining our first quarter and four-year 2023 Berlin Conference Call today. In 2023, as we strategically focused on high-quality development, we delivered housing results in the challenging microenvironment and increasingly competitive landscape. Notably, our four-year revenue reached $629 million. up 25% year-over-year. Apparel remains our strategic recall category and drives our sales, accounting for over 80% of total revenues. Thanks to our continuous efforts and investment in our technologies and data analysis capabilities, we gained a great understanding of evolving consumption patterns, enabling us to better align our products. services and marketing strategies with consumer preference and demands. More encouraging, we are able to improve our profitability with our four-year adjusted EBITDA loss, bettering by 34% year-over-year to $6.3 million. Heading into 2024, we are seeing an evolving operating environment. and increasingly fierce industry competition. To navigate these market dynamics, we will place a greater emphasis on enhancing customer experience and holding our localized operations in key markets, such as the United States, to bring high-quality on-chain offering to more customers worldwide. Meanwhile, we will continue strengthening our brand values and visibility to attract organic traffic from potential customers, increase marketing efficiency, and improve the brand's overall competitiveness. As always, we are committed to pursue healthy, sustainable development and delivering value for our shareholders in the long run. With that, I will hand the call over to Yuanjun to go through our financial results.