ATRenew Inc.

Good morning and good evening, ladies and gentlemen. Thank you for standing by and welcome to the AT Renew Inc's second quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. We will be hosting question and answer session after management's prepared remarks. Please note, today's event is being recorded. I'll now turn the call over to the first speaker today, Mr. Jeremy Gee, Director of Corporate Development, and investor relations of the company. Please go ahead, sir.

Thank you. Hello, everyone, and welcome to HRE News second quarter 2025 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 the analysts. The second quarter of 2025 financial results were released early today. The earnings press release and investor slides accompanying this call are now available at our IR website, ir.aqa.com. There will also be a transcript following this call for your early convenience. For today's agenda, Harry will share his thoughts over our quarterly performance and business updates, followed by Rex, who will address the financial highlights. Both Carrie and Rex will participate during the Q&A session. Please note that our safe harbor statements. Some of the information you hear during our 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 the 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 from 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, investors and analysts. Welcome to the second quarter of the WanWu Xingsheng Group in 2025. I'm very happy to be here. Hello, investors and analysts. Welcome to the second quarter of the WanWu Xingsheng Group in 2025. 我们非常高兴与各位更新二季度预期达成的收入增长和经营动态, 并回应各位对于集团经济发展的关注。 我们还会对下半年的业务布局以及能力建设进行一些分享。 Hello everyone, and thank you for joining HRE News second quarter 2025 earnings conference call.