Luckin Coffee Inc

Ladies and gentlemen, welcome to Luckin Coffee's fourth quarter and full year 2024 earnings conference call. All participants will be in listen-only mode during the management's prepared remarks, and there will be a question and answer session to follow. Please be advised that today's call is being recorded. Now, I would like to turn the call over to Ms. Nancy Song, head of investor relations of Luckin Coffee. Nancy, please go ahead.

Thanks, operator. Hello, everyone. We have come to Locking Coffee's fourth quarter and the full year 2024 earnings conference call. We announced our financial results earlier today before the U.S. market opened. The earnings release is now available on our IR website and by Newsware Services. Today, we will hear from Dr. Guo Jingyi, our chairman and CEO, who will share a strategic overview of our business. Following that, Ms. Anjing, our CFO, will discuss our financial results in greater detail. Afterwards, we will open up the call for questions. During today's call, we will be making some forward-looking statements regarding future events and expectations. Any statements that are not historical facts, including but not limited to statements about our beliefs and expectations of overlooking statements. These statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in our findings with the SEC. In addition, for non-GAAP measures discussed today, the reconciliation information related to those measures can be found in our earnings pressure 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。 感谢各位对粤性咖啡的持续关注与支持。 2024年是粤性咖啡业务发展的关键一年。 In a complex and diverse industry environment, our strategy is focused, our goals are clear, and our execution is in place. We have continuously expanded our market share and competitive advantage. The company's annual total income has increased by 38% compared to the previous year, reaching 3.45 billion yuan. Our operating profit has increased by 17% compared to the previous year, reaching 35 billion yuan. Especially since the second quarter, we have continued to improve our self-sufficiency index, and our operating efficiency has been significantly improved. Hello, everyone.