Luckin Coffee Inc

Ladies and gentlemen, welcome to Luckin Coffee's first quarter 2025 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. Please be advised that today's call is being recorded. Now, I'd like to turn the call over to Ms. Nancy Song, investor relations of Luckin Coffee. Nancy, please go ahead.

Thank you, and hello, everyone. Welcome to Lock-In Coffee's first quarter 2025 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 the valuesware services. Today, you will hear from Dr. Guo Jingyi, co-founder and CEO of Lock-In Coffee, 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 historic facts, including but not limited to statements about our beliefs and expectations are forward-looking 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 net debt matters discussed today, the reconciliation information related to those matters will be found in our earnings press release. 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, co-founder and CEO of Lock-in Coffee. Dr. Guo, please go ahead.

Hello, everyone. Welcome to today's conference. Thank you for your continued attention and support for Yixing Coffee. Before the conference officially begins, as you can see in the company's announcement, we are very honored to welcome Mr. Li Hui, CEO and CEO of Dazheng Capital, to re-join the RuiHsing board of directors and become the chairman of the board of directors. At the time of the RuiHsing case, DaZheng Capital kept investing in RuiHsing to ensure the stability of company governance and equity structure. This is also the most important basis for RuiHsing to completely complete the history cut and realize the initial rebound. As a shareholder, Mr. Lin Hui himself has always been steadfast in supporting Ruixin to complete the process of re-establishing Nipan, helping the Ruixin team to achieve today's results. Mr. Lin Hui was able to re-join the board of directors and become the chairman, showing his full recognition of Ruixin's past performance and the long-term value of Ruixin. He was also able to play out his rich experience in management and strategic planning, to promote the continued development and strategic layout of Ruixin China and global business, to lead the company's development to enter a new stage and enter a new stage. From now on, I will continue to work closely with Mr. Lin Hui. Under his leadership, I will be more focused on running the CEO and board of directors, and continue to adhere to the core values of Ruixin together, and work hard to promote and realize Ruixin's mission and vision. Hello, everyone.