Hello, everyone. Thank you for joining us today. In Q4, our total revenue accelerated, robustly growing 42% year over year and 23% quarter over quarter. We continue to make progress by consistently reducing non-GAAP operating losses quarter over quarter, and we expect our first quarter's non-GAAP operating losses to further decrease both year over year and quarter over quarter. For the full year 2024, total revenue increased by 21% to RMB 807 million, and our non-GAAP net loss attributable to shareholders narrowed year over year. This performance highlights our commitment to high-quality growth and positions us strongly for a continued business turnaround in 2025. Our growth is driven not only by our enterprise facing AI and robotic businesses, but also by our legacy Internet business, which continues to deliver strong year-over-year revenue growth and margin expansion. Our apps for PC and mobile users continue to address pain points effectively, delivering excellent product experience even in a mature market. We believe that this positive trajectory will continue into 2025. Benefiting from the momentum of LLMs, Cheetah entered 2025 with tremendous opportunities for our robotic business. LLMs are playing a key role in transforming the service robotics industry, expanding its total addressable market and laying the groundwork for service robots to evolve into general-purpose physical AI. At Cheetah, we are taking a measured, strategic approach to growing our robotics business, focusing on product types that can generate sustainable revenue and profits, aiming to become a top three service robot provider globally within three years. Our wheel-based robots are designed to serve real-world business environments, enabling a data flywheel that will further drive product innovation and LLM advancement. At the same time, we continue to enhance our general-purpose robotic capabilities by leveraging the most advanced LLMs available in the market, such as DeepSeek, ChatGPT, and others, alongside our self-developed LLMs. Capabilities such as voice interaction capability and indoor autonomous navigation are essential to the integration of physical AI over the long term. Speaking of voice interaction capability, building upon our success in voice-enabled robots, we will be launching AgentOS in the coming days, being the first to market our robot agent. AgentOS is our next-generation voice interaction system for service robots, backed by our self-developed AI agent technology. It powers robots to reason autonomously, verify information, and call additional tools to complete tasks. AgentOS will expand our total addressable market. We built tailor-made AI agents to help ourselves or our distributors sell robots and to assist restaurant and supermarket owners in greeting customers and introducing promotions. You can also easily customize your robot by uploading your company's data, making the Cheetah robot especially adaptable to your needs. For example, our reception robot can greet visitors and even help visitors find nearby coffee shops, all by using voice commands. One of our distributors in China has already used AgentOS to sell Cheetah robots. They uploaded product details, images, and videos into the system, and now the robots act as smart sales representatives, giving clear and detailed answers that sometimes surpass those of human sales staff. This easy-to-customize solution has led to higher sales and improved efficiency. We believe AgentOS will strengthen our lead in voice-enabled robots. This improved product experience not only positions us to attract new customers but should also drive repeat purchases from our existing customer base, particularly in corporate receptions, exhibition centers, public sector departments, schools, and universities. Regarding our indoor autonomous driving capability, as I stated in the past, we are gradually transitioning to vision-based solutions for our service robots. Vision helps our robots better understand and navigate real-world environments, further enhancing the data flywheel for further product innovation and LLM advancement. In addition, we are continuing to leverage AI to enable smoother collaboration between robots, as well as between robots and humans. Specifically, we use multimodal models to allow robots to follow users even in crowded spaces, and we use enhanced AI algorithms for route planning, ensuring that multiple robots can work seamlessly together in a factory. Our ongoing product innovations and enhancements, combined with a strong focus on high-quality after-sales service and Cheetah's established brand recognition, have consistently helped us capture market share from peers and drive sustained sales growth. Going forward, we will continue expanding globally by building local sales teams and distribution channels, leveraging Cheetah's proven experience operating outside China. Following our success in South Korea and Japan, we have made solid progress in Europe. After about 12 months in Italy, we became the country's largest service robot provider. We are planning to open our European headquarters in Germany, aiming to solidify our presence in the region. It's important to note that the adoption of service robots in developed markets significantly lags behind China, presenting substantial opportunities, particularly in restaurants and fulfillment centers. Moving on to AI application initiatives. AIDES, our AI-based data service platform, has been well received by enterprises, including some well-known companies. We also continue to leverage the most advanced LLMs to rapidly find product-market fit while building AI applications with a small focus team. For example, since DeepSeek became available, our team quickly used it to transform my WeChat official account into an AI agent, a virtual Fu Sheng, to answer users' inquiries. We have seen a significant increase in user engagement and new followers as a result. Additionally, we have integrated DeepSeek to support our voice-enabled robots, allowing businesses to easily upgrade their robots and gain access to the DeepSeek model through other devices. Our strategy for the AI application business is to build a product portfolio while focusing on building killer apps in selected areas. By leveraging the most advanced LLMs and our experience in developing apps, we are making limited investments with a smaller team to drive innovations. Overall, we achieved solid growth in 2024, but it is just the beginning of Cheetah's achievement. With entrepreneurial spirit and the valuable lessons from operating as a public-listed company serving users and businesses globally, I am confident in our team's ability to bring Cheetah to even greater success.
