Kingsoft Corp Ltd Adr

Good day and thank you for standing by. Welcome to Q4 2024 Kingsoft Corporation's earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you need to press star 1 on the telephone with an automated message advising your hand is raised. Please be advised that today's call is being recorded. I would now like to hand the call to your host today, Ms. Li Yinan, IRR Director. Thank you. Please go ahead.

Thank you, Operator. Ladies and gentlemen, good evening and good morning. I would like to welcome everyone to our 2024 Fourth Quarter and Annual Results Earnings Call. I'm Li Yinan, the IRR Director of Kingsoft. I would like to start by reminding you that some information provided during the earnings call may include forward-looking statements. which may not be reliable in the future for various reasons. These forward-looking statements are based on our information and information from other sources, which we believe to be reliable. Please refer to the other publicly disclosed documents for detailed discussion of risk factors, which may affect our business and operations. Additionally, in today's earnings call, the management will deliver prepared remarks in both Chinese and English. A third-party interpreter will provide a consecutive interpretation into English. During the Q&A section, we will accept questions in both English and Chinese with alternating interpretation provided by the third-party interpreter. On-site translation is solely to facilitate communication during the conference call. In case of any discrepancies between the original remarks and the translation, the statement made by the amendment will prevail. Having said that, please allow me to introduce our management team who joined us today, Mr. Zhou Tao, our executive director and CEO, and Ms. Li Yi, our acting CEO. Now, I'm turning the call to Mr. Zhou.

Hello, everyone. Welcome to the 4th quarter of this year's software and all-year-round phone calls. This year's software will ensure high-quality software development, and a year full of results. In 2024, the company's overall performance was strong. In terms of revenue scale, profit capacity, and core operating indicators, the company has a high historical record. The annual total revenue broke 10 billion yuan, reaching 10.3 billion yuan, which is 21% of the total growth. The overall operating profit of the Group reached RMB36.46 billion, which is 64% of the total profit. The operating profit was increased by 26% in 2023 to 35%. Over the past year, we have insisted on technological innovation to continuously optimize products and services, improve market competitiveness and value for users,