Luckin Coffee Inc

Ladies and gentlemen, welcome to Luckin' Coffee's first quarter 2024 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 first quarter 2024 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.

Hello, everyone. Welcome to today's press conference. Thank you for your continued attention and support for Ruixin Coffee. I am Ruixin Coffee's Chairman and CEO, Guo Jinyi. This quarter, in the face of a market environment based on challenges, Ruixin Coffee has still achieved high-speed growth with advanced business models, various product innovations and scale advantages. and the number of stores is rising again. However, with the fierce competition in the industry and the fluctuation of the public relations environment, the profits have fallen. Faced with a diversified market environment, the company has made actual adjustments and established a stable and sustainable expansion strategy, making the company's basic market more stable and balanced. At the same time, RuiHsing continues to return to consumers, With the rapid expansion of our store, our total number of users has again reached a new high. In the future, we will continue to steadily advance according to certain strategies. Hello everyone, welcome to today's earnings conference call, and thank you for continuing to support Lacking Coffee. I am Lacking Coffee's Chairman and CEO, Guo Jingyi.