Luckin Coffee Inc

Ladies and gentlemen, welcome to Lockeen Coffee's first quarter 2026 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, head of investor relations at Lockeen Coffee. Nancy, please go ahead.

Thank you, and hello, everyone. Welcome to Locking Coffee's first quarter 2026 earnings conference call. We announced our financial results earlier today before the US market opened. The earnings release is now available on our IR website and the Y News website services. Today, you will hear from Dr. Guo Jingyi, co-founder and CEO of Locking 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 historical facts, including but not limited to statements about our beliefs and expectations, are forward-looking statements. These payments 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 matters discussed today, the reconciliation information related to those matters can be found in our earnings press release. During this call, Dr. Guo will speak in Chinese, and his comments will be translated into English. Now, I'd like to turn the call over to Dr. Guo Jingyi, the founder 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。 Good day, everyone, and welcome to today's earnings conference forum.