Luckin Coffee Inc

Ladies and gentlemen, welcome to Luckin Coffee's fourth quarter and full year 2023 earnings conference call. All participants will be in listen-only mode during management's prepared remarks, and there will be a question and answer session to follow. Today's conference is being recorded. At this time, I would like to turn the call over to Ms. Alicia Guo, the head of investor relations of Luckin Coffee for prepared remarks and introductions. Please go ahead, Alicia.

Hello, everyone, and thank you for joining us on today's call. Locking Coffee announced its fourth quarter and full year 2023 financial results earlier today. Today, you will hear from Dr. Guo Jingyi, Chairman and CEO of Locking Coffee, and Ms. An Jing, CFO of Locking Coffee. After the company's prepared remarks, the management team will conduct a question and answer session based on questions submitted via the company's webcast. We will be referring to a slide presentation on today's call, which can be found via a conference call webcast link, as well as on the company's IR website. The IR website link is investor.lkcoffee.com. During today's call, the company will be making some forward-looking statements regarding future events and results. Statements that are not historical facts including but not limited to statements about the company's beliefs and expectations are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the company's filings with the SEC. With respect to any non-GAAP measures discussed during the call today, the accompanying reconciliation information related to those measures can be found in the earnings press release issued earlier today. During today's call, Dr. Guo will speak in Chinese and his comments will be translated into English. Now I would like to turn the call over to Dr. Guo Jingyi, Chairman and CEO of Locking Coffee. Dr. Guo, please go ahead.

大家好,欢迎参加今天的业绩沟通会。 感谢各位对瑞幸咖啡的持续关注与支持。 我是瑞幸咖啡的董事长兼CEO郭景义。 2023年对公司是极具里程碑意义的一年。 In terms of scale, Ruixin Coffee's number of stores doubled on the basis of last year, creating new high. In terms of performance, in the face of a fierce industry competition environment, Ruixin Coffee has created new high with unique business models, endless product innovations and scale advantages. The overall profit level is healthy and controllable, in line with company expectations and strategic development direction. This quarter, Ruixin continues to give back to consumers. Through the 10,000-storey Tongqing discount event, more consumers enjoy high-quality coffee at a more affordable price. Our new transaction number has created a new record in history. We have also successfully created multiple newspaper products and refreshed the sales record of Ruixin single products. Hello everyone, welcome to today's earnings conference call, and thank you for continuing to support Locking Coffee. I am Locking's Chairman and CEO, Guo Jingyi.