Waterdrop Inc.

Good morning, ladies and gentlemen, and thank you for standing by for WaterDrop, Inc. Third Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the management's prepared remarks, there will be a Q&A session. As a reminder, today's conference call is being recorded. I would now like to turn the meeting over to Ms. Shae J. Stey. Please proceed, Ms. Stey.

Thank you for joining WaterJobs Fair Quarter 2022 Earnings Conference Call. Please note that the discussion today will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities and Education 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 outlined in our public filing with SEC. The company does not undertake any obligation to update any forward-looking statement except as required under applicable law. Also, this call includes discussion of certain non-GAAP measures. This refers to our earnings release for 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 VP, Mr. Hu Yao, co-founder, director, and VP, Mr. Yang Wei, partner and the general manager of the insurance market base, Mr. Zhu Ze, partner and general manager of medical crowdfunding and patient services, Mr. Richard Chen, board secretary and VP. They will be available for 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, everyone. Thank you, Mr. Chen. This is the third quarter of 2020. Although the global economic downturn is more dangerous in the third quarter of this year, domestic economic recovery is the top priority. However, the recent domestic effective demand recovery is very dangerous. I believe that after the optimization of the policy of defense, it will promote consumer mobility and speed of production. Hello, everyone. Thank you for joining our third quarter 2022 earnings conference call. During the third quarter, we have seen increasing downside risks in the global economy as well as uncertainty regarding the domestic economic recovery.