ZTO Express (Cayman) Inc.

And welcome to the ZTO to Announce Third Quarter 2025 Financial Results Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note, today's event is being recorded. I would now like to turn the conference over to Sophie Lee, Secretary for the company. Please go ahead.

Thank you, Operator. Hello, everyone, and thank you for joining us today. The company's results and the investor relations presentation were released earlier today and are available on the company's IR website at ir.dto.com. On the call today from CTO are Mr. Mason Lai, Chairman and the Chief Executive Officer, and Ms. Hui-Ping Yan, Chief Financial Officer. Mr. Lai will give a brief overview of the company's business operations and highlights, followed by Ms. Yan, who will go through the financials and guidance. They will both be available to answer your questions during the QA session that follows. I remind you that this call may contain forward-looking statements made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and current market and operating conditions and relate to events that involve known or unknown risk uncertainties and other factors, all of which are difficult to predict and many of which are beyond the company's control. which may cause the company's actual results, performance, or achievements to differ materially from those in the forward-looking statement. Further information regarding this and other risks, uncertainties, and factors is included in the company's filings with the U.S. Securities and Exchange Commission. The company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise. except as required under law. It's now my pleasure to introduce Mr. Mason Wai. Mr. Wai will read through his prepared remarks in their entirety in Chinese before I translate for him in English.

大家好,感谢各位参加今天的电话会议。 2025年三季度,快递行业申收稳健, 总统保持行业领先的服务水平, The completed business volume is 95.7 billion yuan, the same growth rate is 9.8%. After adjustment, the net profit increased by 5% compared to the same period last year, reaching 25.1 billion yuan. In the third quarter, the government proposes to ban internal power and reduce the name of the company, to guide the need for competition, to prevent unreasonable low price behavior, to reduce the overall price level, to stabilize the recovery rate, The CCP is determined to establish a normal development strategy based on the quality of service. This reflects the strict requirements of the country's standard enterprise to further improve and implement high-end and high-quality system development policies, encourage network cooperation partners to reduce capital collection, and enhance the ability of the left-wing party to become the best in the last mile. The CCP's three systems have nearly 50% of the total business volume. The growth of non-electric vehicles has maintained a state of rapid growth. We have optimized the management of cable cars and modernized them, and increased the cost-effectiveness of service vehicles. In terms of transportation efficiency, the President continues to advance the digitalization of new applications, and the application standardization of cost net control mechanisms, and the implementation of more precise resource matching and sales management. The cost of single-voting and division has been reduced by 0.05 yuan. In the last four weeks, the overall business volume of the industry has grown. Despite the decline of Hongguang, there are uncertainties and challenges. The long-term development prospects of the courier and mail industry are still wide. We will continue to focus on the construction of our own products and service capabilities. The next stage is to focus on the following five aspects. First, to adhere to the quality of service, to build a single-to-single quality management system, to integrate the platform index into the evaluation, to realize the sense of responsibility, and to ensure that the service continues to advance. Second, to deepen the ability to build a single-to-single system, to promote the ability to divide points, deepening the chain of supply and delivery to local businesses, reducing the cost of shipping, and increasing the spread of lightning. 3. Improving network policy and mobilization. While ensuring the steady growth of the business volume, strengthening the policy, transparency, and attack-based, precise mobilization and mobilization to develop network internal motivation. 4. Approaching the full chain of supply and delivery effect, 5. to maintain the fairness and integrity of the network, to fully communicate with self-reliant supporters, to solve practical problems in real time, to protect the integrity of the end-of-the-day and the business community, to maintain brand trust and network confidence. Currently, the industry is experiencing a high number of strategic changes to bright colors. Under the macroeconomic situation, the increase in low-price stock prices, has brought a special new technology to China. In the face of change in business structure, China is determined to choose the right development path. We will continue to upgrade our products and manage them in a sophisticated way. In the complex market competition, we will adhere to high-quality service standards and continue to expand our business scale within a reasonable profit margin. At the same time, our members and partners are also experiencing the chain of white-hot price competition, which is actively using the development of end-to-end capabilities and new innovation to open up and diversify the source of heat, continue to optimize business efficiency, and further strengthen the development of the central network's resilience and business confidence. Competition is a process experienced by most industries. In the face of the future, we believe that with China's deep-rooted and vigorous development of the economy, China can continue to develop our unique industrial culture throughout the whole process. By using a strong network of infrastructure, good business capability, and stable financial strength, China will be the first to win in the ongoing development of the courier and logistics industry, and will share the value of cooperation with all parties. Hello everyone, thank you for joining today's conference call.