LightInTheBox Holding Co., Ltd.

Hello, ladies and gentlemen. Thank you for standing by for Life in the Box's second quarter 2026 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. Serena Huang. Please go ahead, Serena.

Thank you, Operator. Hello, everyone, and welcome to Light in the Box second quarter 2026 earnings conference call. The company's earnings results were released via Newswire services earlier today, and they're available on the company's IR website at ir.ador.com. On the call from Light in the Box today are Mr. Jian He, CEO, and Mrs. Wenyu Liu, CFO, Mr. He will provide an overview of the company's Q2 highlights, followed by Mrs. Liu who will go over its financial results. Following our prepared remarks, we will 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 the factors that could cause results to materially differ from those in forward-looking statements, please refer to the company's Form 20-F filed with the SEC. The company does not assume any obligation to update any forward-looking statements except as required under applicable law. Please also note that Night in the Box earnings press release and this conference call includes discussions of unaudited gap financial measures as well as unaudited non-gap financial measures. Please refer to the company's earnings press release which contains a reconciliation of the unaudited non-gap measures to the unaudited gap measures. Now I'd like to turn the call over to Lighting the Box CEO, Mr. He. Please go ahead.

Good morning and good evening, everyone. Thank you for joining Lighting the Box second quarter 2026 earnings call. We are pleased to report an excellent result for the first half and the second quarter of 2026. Our first half results provide a clear view of the progress we are working. Revenue increased 3% year-over-year to $108.8 million. Net income grew by approximately 28% to $2.7 million. Adjusted EBITDA also improved to $3.3 million. In the second quarter, Revenue declined moderately as we faced out long-tail products. Despite a challenging external environment, gross margin remained resiliently at 66%. Through disciplined expense management, we remained profitable, delivering net income of $1.6 million and adjusted EBITDA of $1.9 million. Over the past several years, we have steadily reshaped LightingTheBox and laid the foundation for sustainable, profitable growth. From 2023 to 2024, we invested in our proprietary apparel brands and strengthening our in-house product development and production capabilities. These investments gave us greater control over product differentiation, quality, and speed to market. In 2025, we made meaningful progress in involving the LightingBox online platform into a consumer lifestyle company by developing a deeper understanding of consumer preference and sentiment. We delivered differentiated products that forced engagement and build stronger emotional connection with consumers. This year, we are seeing another important shift. AI is rapidly becoming embedded in how people work, communicate, create and make decisions. We believe we have a chance for not only how consumers discover, evaluate and purchase products, but also what they value and seek in their daily lives. As technology becomes more deeply integrated into everyday life, we believe the desire for emotional connection, self-expression, and visually a better quality of life and memorable experiences will become even more important. As a lifestyle company, we are well positioned to address these evolving needs. Our transformation from AI goes beyond adopting new technology tools. It requires a deeper understanding of consumer intent. Our AI strategy will focus on using technologies to anticipate evolving consumer needs and connect them more effectively with product discovery, personalization, and creation. At the same time, we will continue to involve our product strategy around enduring human aspiration for self-expression, emotional value, and memorable experience. With that, I will now hand the call over to Wendy to go through our financial results.