XPeng Inc.

Hello, ladies and gentlemen. Thank you for standing by for the first quarter 2026 earnings conference call for Explan Inc. At this time, all participants are in listen-only mode. After management's remarks, there will be a question and answer session. Today's conference call is being recorded. I will now turn the call over to your host, Mr. Alex E., Head of Investor Relations and Capital Markets at the company. Please go ahead, Alex.

Thank you. Hello, everyone, and welcome to EXPON's first quarter of 2026 earnings conference call. Our financial and operating results were issued via news file services early today and available online. You can also view the earnings press release by visiting the IR section of our website at ir.xiaopeng.com. Participants on today's call from our management will include our co-founder, chairman, and CEO, Nick He Chang-heng, vice chairman and president, Dr. Brian Gu, Vice President, Mr. Charles Chang, Vice President of Finance and Accounting, Mr. James Wu, and myself. Management will begin with prepared remarks and the call will conclude with a Q&A session. A webcast replay of this call will be available in the IR section of our website. Before we continue, please know that today's discussion will contain forward-looking statements made under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, Forelooking statements involve inherent risks and certainties. As such, the company's results may be materially different from the views expected today. Certain information regarding these and other risks and certainties is included in the relevant public filings of the company as filed with the U.S. Securities and Exchange Commission. The company does not assume any obligation to update any forelooking statements except as required under applicable law. Please also note that EXPO's earnings press release and this conference call include the disclosure of unaudited gap financials as well as unaudited non-gap financial measures. EXPO's earnings press release contains a reconciliation of the unaudited non-gap measures to the unaudited gap measures. I will now turn the call over to our co-founder, chairman, and CEO, Mr. He Xiaopeng.

Please go ahead. Hello, everyone. In the first quarter of 2026, we will change the company's Chinese name from Xiaopeng Car to Xiaopeng Group. This marks our withdrawal from a smart electric car to a physical AI company. In the system of Xiaopeng Group, the business of smart electric cars will grow rapidly, continue to contribute to the positive profits and strong progress, and support our research and development discussion towards physical AI. Today, I believe that the physical AI application is on the verge of breaking down from mass production to scale. We have already verified that Scaling.org is also applicable in the physical AI, as well as in the automation and infrastructure fields. Now, we have become extremely clear on the path of breaking through through major engineering and research, so at this time, we will choose to firmly increase AI-related research and develop physical AI. I believe that physical AI applications will be a global strategic opportunity in the next 10 years. I will lead the team to complete RoboTaxi and energy generation production this year, and find a left-hander for commercial production, and transform leading physical AI technology and applications, including automatic driving, energy generation, into new income and profit-making devices. Hello, everyone.