Unknown Executive
Good morning, everyone. This is Tracy Li from Waterdrop Investor Relations. It’s my pleasure to welcome everyone to Waterdrop’s Fourth Quarter and Facial Year 2025 Earnings Conference Call. [Operator Instructions] As a reminder, today’s conference call is being recorded.
Please note that discussion today will come from forward-looking statements made under the safe harbor provision of the U.S. Private Securities and Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations. Potential risks and uncertainties include, but not limited to those outlined in our public filings with the SEC. The company does not undertake any obligation to update any forward-looking statements, except as required in applicable law. Also, this call includes discussion of certain non-GAAP measures. Please refer to our earnings release for a reconciliation between non-GAAP and GAAP.
Joining us today on the call are Mr. Shen Peng, our founder, Chairman and CEO; Mr. Ran Wei, Director and GM of Insurance Business; Mr. Xiaoying Xu, Head of Finance Department; and Mrs. Mrs. Jieru Li, Board Secretary. We’ll be happy to take some of the questions [indiscernible] at the end of the conference call.
Now let’s turn to our CEO, Shen Peng to start.
Peng Shen
Co-Founder, Chairman of the Board & CEO
Dear investors and analysts, thank you for joining Waterdrop’s fourth quarter and fiscal year 2025 earnings conference call. Looking back at 2025, we executed firmly on our AI plus insurance strategy, delivering tangible progress in both AI application and business growth. Our
