Waterdrop Inc.

Good morning, ladies and gentlemen, and thank you for standing by for Water Drops Inc.' 's third quarter 2021 earnings conference call. At this time, all participants are in a listen-only mode. After the management's prepared remarks, there will be a question and answer session. As a reminder, today's conference is being recorded. I would now like to hand the conference over to your host for today's call. Ms. Quee, please go ahead.

Thank you, operator. Hello, everyone. Thank you for joining WaterDrop's third quarter 2021 earnings conference call. Please note that the discussion today will contain forward-looking statements made under the safe harbor provision of the US Private Securities and the Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations. Potential risks and uncertainties include, but are not limited to, those outlining our public findings with the SEC. The company does not undertake any obligation to come to any conclusion, except as required under applicable law. Also, this call includes discussion of certain non-GAAP measures. Please refer to our earnings release for a reconciliation between non-GAAP and GAAP. Joining us today on the call are Mr. Shen Peng, our founder, chairman, and CEO, Mr. Yang Guang, co-founder, director, and general manager of the insurance marketplace, Mr. Hu Yao, co-founder, director, and general manager of medical crowdfunding and healthcare, and Mr. Kevin Shi, our CFO. We will be available for a Q&A session after the remarks. Now I would like to turn the call over to our CEO, Mr. Shen Peng. Please go ahead.

Hello. I would like to thank all of you for attending the press conference of Shiba Inu. The capital market has been fluctuating since the third quarter of this year. At the same time, the insurance industry has dropped to a certain extent due to the adjustment of the structure. The company faces opportunities and challenges, which are a little different from the situation before the listing. But no matter how the market changes, we will do our best to do our business with customers as the center.