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Xuefeng Chen; Chairman of the Board, Chief Executive Officer, Founder; ATRenew Inc. Chen Chen; Chief Financial Officer, Director; ATRenew Inc. Good morning and good evening, ladies and gentlemen. Thank you for standing by, and welcome to ATRenew Inc's fourth quarter and full year 2024 earnings conference call. At this time, all participants are in a listen-only mode. We will be hosting a question-and-answer session after management's prepared remarks. Please note today's event is being recorded. I will now turn to the call over to the first speaker today, Mr. Jeremy Ji, Director of Corporate Development and Investor Relations of the company. Please go ahead, sir. Hello, everyone, and welcome to ATRenew's fourth quarter and full year 2024 earnings conference call. We are excited to share our business updates, our strategic insights into the pre-owned industry, and our development roadmap for 2025. 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