Wendy Sun | executive |
Wenbin Qiu | executive |
Arthur Yu | executive |
Sandrine Zerbib | executive |
Alicis a Yap | analyst |
Thomas Chong | analyst |
Zhihao Wang | analyst |
Qingpu Yang | analyst |
Charlene Liu | analyst |
Good morning, ladies and gentlemen, and thank you for standing by for Baozun's Fourth Quarter and Fiscal Year 2023 Earnings Conference Call. [Operator Instructions] As a reminder, today's conference call is being recorded. I will now turn the meeting over to your host for today's call, Ms. Wendy Sun, Senior Director of Corporate Development and Investor Relations for Baozun. Please proceed, Wendy.