ATRenew Inc.

Good morning and good evening, ladies and gentlemen. Thank you for standing by, and welcome to ATRenew, Inc.' 's second quarter 2023 earnings conference call. At this time, all participants are in a listen-only mode. We will be hosting a question-and-answer session after management's prepared remarks. Please note, today's event is being recorded. I will now turn the call over to the first speaker today, Mr. Jeremy Gee, Director of Corporate Development and Investment Relations at the company. Please go ahead, sir.

Thank you. Hello, everyone, and welcome to AT Renew's second quarter 2023 earnings conference call. Speaking first today is Kerry Chen, our founder, chairman, and CEO, and he'll be followed by Rex Chen, our CFO. After that, we'll open the call to questions from analysts. The Q2 financial results were released earlier today. The earnings release and investor slides accompanying this call are available at our IR website, ir.atrenew.com. There will also be a transcript following this call for your convenience. On today's agenda, Kerry will share his thoughts about our quarterly performance and business strategy, followed by Rex, who will address the financial highlights. Both Kerry and Rex will join the Q&A session. Please note that management are joining the call from different locations. We'll try to fix it if there is any connectivity issue. Let me cover safe harbor statements. Some of the information you'll hear during the discussion today will consist of forward-looking statements, and I refer you to our safe harbor statements in the earliest press release. Any forward-looking statements that management makes on this call are based on assumptions as of today, and that AT Renew does not take any obligations to upgrade our assumptions on these statements. Also, this call includes discussions of certain non-GAAP financial measures, please refer to our earnings press release, which contains a reconciliation of non-GAAP measures to GAAP measures. Finally, please note that, unless otherwise stated, all figures mentioned during this conference call are in RMB, and all comparisons are on a year-over-year basis. I'd now like to turn the call over to Kerry for business and strategy updates.

Hello everyone and welcome to ATRenews' second quarter 2023 earnings conference call. During the second quarter,