Noah Holdings Limited

Good day, and welcome to the NOAA Holdings Limited second quarter and half year 2026 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad, and to withdraw your question, please press star then two. You may also submit questions via the webcast. Please note, today's event is being recorded. I would now like to turn the conference over to Doreen Chu with Investor Relations. Please go ahead.

Thank you. Good morning and good evening, everyone. Welcome to NOAA's second quarter 2026 earnings conference call. Joining me on the call today are Ms. Noah Wang, co-founder and chairlady, Mr. Sander Yin, co-founder, director, and CEO, Mr. Grant Tang, CFO, and Mr. Jason Wu, deputy CFO. Mr. Yin will begin with an overview of our recent business highlights followed by Mr. Pang who will discuss our financial and operational results. They will all be available to take your questions in the Q&A section that follows. Please note that the discussion today will contain forward-looking statements that are subject to risks and uncertainties that may cause actual results to vary materially from those in our forward-looking statements. Potential risks and uncertainties include but not limited to those highlighted in our public filings with the SEC and the Hong Kong Stock Exchange. NOAA does not undertake any obligation to update any forward-looking statements except as required under the applicable law. With that, I would like to pass the call over to Mr. Yin, COP's Go Ahead.

Hello, this is the operator. Your line is open. Are you perhaps muted?