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Summary of Conference Call Company/Industry Involved - The conference call pertains to Guohai Securities and its research reports Core Points and Arguments - The content of the conference call is intended solely for clients who meet Guohai Securities' investor suitability management requirements and invited clients [1] - Guohai Securities disclaims any responsibility for investment decisions made based on the content of the conference call [1] - The conference call serves as a relay of certain viewpoints from Guohai Securities' published research reports, reflecting the judgment of the research personnel on the day the full report was released [1] Other Important but Possibly Overlooked Content - The conference call does not constitute any investment advice, and any investment decisions made based on the information provided are not associated with Guohai Securities or its employees and affiliates [1]