Dear investors, good afternoon. Welcome to join us at Goldwind 2025 annual results earnings call. Today, we have the executive members. First, Mr. Cao Zhigang, Board Director and President, and VP, Board Secretary, and Company Secretary, Madam Ma Jinru, CFO Wang Hongyan, and Group VP and GM of Wind Power Industrial Company, Mr. Chen Qiuhua. Today, we have two parts in our earnings call. First, Madam Ma is going to walk us through the industry development, our performance, and future outlook in 2025. Then CFO Wang Hongyan is going to walk us through the financial results, and then we'll move on to Q&A. First to Madam Ma. Thank you. Dear investors, thank you all for joining us today at the 2025 Goldwind annual results. First of all, let me introduce the industry in 2025. First, let's look at the global market for wind power in 2025. The new installation is 169.2 GW, up by 37.9%. Onshore, 161 GW, up by 45.1%. Offshore, new capacity of 8.1 GW, down by 30.2%. On the very right side, we can see by country breakdown, China continued to dominate the global installation. In 2025, China's new addition capacity accounts for three-quarters of the global installations. Now back to China. In 2025, the grid connection is 120 GW and the onshore 113 GW and 6.59 GW from offshore wind power. At the end of 2025, China's cumulative grid connection capacity totaled 640 GW, taking 16.4% of China's total power mix, while thermal power declined to 39.6%. On the right side, you could see the electricity production. Last year, China used 10,368.2 billion kWh, up 5.0% year-on-year, and among which we have 1,130 billion kWh of wind power, representing an increase of 13% year-on-year and penetration rate of 10.9%, which improved year-on-year. China still lag far behind benchmarking against other countries. EU and U.K. average penetration rate is about 20%, and in Denmark, more than 50% for multiple years. Now let's look at the LCOE, 2025. can see that the utilization rate national average is 1,979 hours, which is a utilization rate of 94.3%. We could see that Shanghai, Fujian, Chongqing has reached 100% respectively in terms of the utilization rate. On the right side, you could see the levelized cost of electricity offshore, onshore globally. Overall, we can see they are all very advantageous compared to the global average, especially in the last two years. For China, we have involution, which is alleviated, and the price, especially onshore, is definitely back to order. That's why the LCOE onshore is very, very steady and online. Offshore LCOE declined slightly. However, if you look at a global average, especially non-China market, because of the supply chain shortage, so in the last few years the onshore actually globally is trending up. If you look at China's LCOE, both onshore and offshore are both quite advantageous. Let's now look at the tender and bidding in 2025. Domestic public tender market totaled 121.2 GW, down by 26%. Where you can see during 14th Five-Year Plan, we definitely have seen very spiking growth. Onshore, we have 112 GW and offshore 9.14 GW. By region, more than 70% originates from northern part of China. On the right side, you could see the average bidding price per month. You could see the price is very stable, trending up, month by month. On page seven, you could see the policy support from Chinese government issued in 2025. Generally speaking, against the dual carbon goals, the NDRC, NEA has jointly issued a number of policies deepening the market-oriented reform of on-grid power tariffs for new energy. We definitely promoted green, low-carbon transformation, enhancing the quality development of new energy development. In four parts, we have listed a number of related policies. For example, on February 9, the NDRC and NEA's notice on deepening market-oriented reform. I will spare the details here. Against that industry backdrop, let's check out on Goldwind's performance. In 2025, our performance, especially new installations, has been number one in China market and for 15 years and cumulative 4 years the number one globally. We have 165 GW cumulative installation worldwide in 42 countries and regions. We have eight R&D centers, and we participated in 600 standard setting globally. In four parts, I'm going to share with everybody our business performance. All in all, Goldwind's performance has seen a robust growth, and the particular financial results will be shared by Mr. Wang Hongyan, our CFO. Let me just talk about the top line and our performance. First of all, first segment, the sales of WTG in 2025. Our external sale capacity is 26.626 GW, up by 65.9%. The proportion below 6 MW totaled 3,126 MW, totaling 11.7%. From 6 MW- 10 MW totaled 18,818 MW, taking 70%. Above 10 MW totaled 4,682 MW, taking 17.6%. Of course, we definitely have 39.5 GW of signed contracts, 11 GW of successful bid, and 60.5 GW of external order backlog. Company's total order backlog in 2025 year end is 53.7 GW, and you can definitely see the additional 3.2 GW of order was for our own wind farm. We also explored the global market. Our business is now in six continents, 49 countries. Our installations is in 42 countries, but our orders definitely spread across 49 countries by year end of 2025. Cumulative installation in overseas market is 12.599 GW. In Australia, South America, we have exceeded 2 GW, and installation in Europe, North America, and Africa has exceeded 1 GW, and in Asia we have exceeded 3 GW. At year-end, company's overseas external backlog was 9,270.17 MW. Overseas operating capacity totaled 433 MW. Let's now look at the wind power generation and grid connection. Our added attributable grid connection capacity was 2,497 MW, and a total of 588.45 MW were sold at home and abroad. At year-end, company's attributable grid connection totaled 9,951 MW, 39% domiciled in northwestern China, 24% in eastern China, 60% in north China, 9% in northeastern region, and 8% in southern China. At year-end of 2025, attributable under construction wind capacity totaled 2,521 MW. On the right side, you could see the by-region breakdown. Let's now look at the utilization. On the left side, you can see our self-run wind farm recorded 2,290-hour utilization, which is 311 hours higher than national average. On the right side, you could see the wind power service. Thanks to our economies of scale and experience of O&M, you can see by the year-end of 2025, our under operation capacity reached over 50 GW, up 26% year-over-year. We definitely have valued SDG. In 2019, we made the previous sustainable development plan, and we definitely focused on green, environmentally friendly operations, compliance, sustainable industry chain, and sound working environment and harmonious community relationship every year. We set goals and KPIs to work on these five fronts. Last year, we have delivered a fantastic job on STS, especially on the goals set by 2025. For example, in terms of compliance and honesty, we have been achieving Class A in 2025 information disclosure quality rating from Shenzhen Stock Exchange, and we also have a complaints and reporting closing rate up to 100%. You definitely can see the greenhouse gas emission per megawatt reduced by 55.1% compared to 2020. Hazardous waste generated per megawatt of wind turbine manufactured is 78.1% lower than 2020. Water use intensity for production operation is 28.8% lower than 2020. We also have maintained carbon neutrality at the operational level in 2025, and 99% of our global production operations will be powered by green electricity. Self-generated market-traded green power accounted for 57.2% of our total electricity consumed. In 2025, we also delivered great sustainability industry chain goals. For Goldwind, we believe to better evaluate our social responsibility means providing better quality service and products. Our principal products is WTG. By the end of last year, we have evaluated 12 our WTGs lifespan, and we also had received the international products lifespan accreditation. You could see that the carbon intensity per kilowatt hour is pretty low, which is about 3 g. So generally speaking, it's usually at more than 800 g, so we're much lower than the traditional competitors. Our other products are also going through carbon footprint accreditation and evaluation. We also started the green industry chain recycling of our turbines to better deliver our corporate social responsibilities. Now over to you, Mr. Wang Hongyan, to walk us through our financial results. Well-respected shareholders, good afternoon. My name is Wang Hongyan, CFO of Goldwind Science & Technology, and thank you all very much for your sustained interest and support to the company. In the next 10 minutes of time, I'm going to report to you the financial results of the company in financial year 2025. As usual, I'd like to analyze all indices, especially the profitability, the segment results, and then solvency position as well as our cash flows and cash balance. Starting from page one, we can see as usual, the gray here represents last year, and the dark blue reports the reporting period. Let's now check out on page 18, which is the consolidated profitability index, which involves four key indexes on the left side. You could check out the revenue of the company in financial year 2025. You could see in gray and blue representing our revenue in 2025. Our revenue CNY 73 billion, up by CNY 16.3 billion, mostly as a result of WTG market demand sales and our business acquisition execution. On the right side, you could see the profit margin. Also you could see quarter by quarter profit margin performance in 2025. Consolidated profit margin is 14.18%, up by 0.38 percentage point. The profit is up by CNY 2,774 million. This is definitely as a result of the good strategy product mix optimization for WTG business, which definitely help us to improve our revenue. On the left side, you could see the attributable net profit totaled CNY 2,774 million, up by 49.12%. It is a result of how we improve our cash-making ability, profit margin improvements and expenses reduction. On the very right corner, you could see the weighted average return on equity ROE. In 2025, our weighted ROE is 7.08%, up by 2.17 percentage point, mostly as a result of growing revenue and optimization of our core equity. You could see that the weighted average ROE is improving year-on-year. On consolidation level, in 2025, our revenue, profit margin, net profit and weighted average return on equity have all been improved on basis of 2024, which definitely is a result of our budget and our strong execution of our strategy. On second part, in page 19, I'm going to report on our segment results as Madam Ma has just introduced. For WTG manufacturing and sales, our revenue grew dramatically, especially the offshore business has increased, which optimized the profit margins and total sales. The second part is the wind farm development. The revenue and profit margin year on year also changed. One slightly declined and the other increased. You can see that the revenue from the wind farm development has definitely decreased, but the profit margin improved. If you look at the third segment, wind power service and other businesses, which is pretty flat versus 2024. You can see our budget is well executed and pretty aligned with the business performance. Moving on to page 20, which is the operation index on left side. You could see days of trade receivables. Three improvements. Number one, at the end of 2025, the balance is CNY 23 billion, accounting for 19% of our total assets, improved by 1 percentage point. The days of receivables versus our total assets also improved, and also the days of trade receivables was 158 days, much improved on basis of 2024. You could see that the three improvements in all this data. On the very right side, you can see days of inventory and contract assets. At the end of 2025, we have inventory and contract assets totaled CNY 17,267 million, taking 10% of total assets. The days of inventory and contract assets was 97 days, improved by 25 days. If you look at the operating efficiency of inventory and the contract assets, it's much improved because of our delivery lead time improvement, and precise execution of our strategies. Now, let's move on to page 21 on solvency. On the left side, you could see the interest-bearing debt. We can see from the pie chart that in 2025, the absolute value of the interest-bearing debt has declined, which in 2025 from Q1 to Q4 has been improved. In the same time, the internal structure of the interest-bearing debt has been optimized, which helped the company to reduce our financing cost, which definitely created the most preferential financing cost for the company. In the same time, if you look at the total credit granted also improved significantly, which laid a solid capital guarantee for our future development. On the very right side, which is very meaningful, it's on asset-liability ratio. In 2025, our ALR down by 0.3 percentage point, which is by now the largest reduction ever since we are listed. That reflects our optimization of our solvency position on innovative strategy and execution. It also reflects the financing strategy of the company is highly robust and healthy. In 2026, we will continue to improve the operational efficiency of our capital so that the asset-liability ratio will go down, making sure we have a very balanced and healthy financial position. On the very last part, we could see the cash and net operating cash flow. On the very left side, you could see the cash and total assets. In 2025, our cash balance versus the total assets has been much improved. This is a result of our lean management of our capital. On the very right side, you could see the net operating cash flow. In 2024 throughout 2025, our net operating cash flow is very aligned with the seasonal usuals. Whether negative or positive, it is aligned with the industry's performance. You can see 2025, the operating cash flow fluctuations actually narrowed down, which means the stability of our cash is improved. This definitely safeguards the security of our cash, but also improved the operational efficiency of our company's cash balance. From cash flow results, I can see that the growth rate of our net operating cash is outperforming the revenue growth and attributable net profit in 2026. We'll continue to launch the lean management of our cash capital to make sure we have stable, healthy, sufficient cash balance. That's all for me on 2025 financial results. Great. Let me now take over from Mr. Wang to talk about the outlook. For global wind power outlook, here we definitely quote from IEA and GWEC's forecast. Simply said, IEA believe that from 2025 to 2030 period, the new installed capacity globally will reach 4,600 GW. Accumulated new onshore will be 732 GW, up by 45%. On the right side, you see GWEC's forecast. They believe from 2024 to 2029, the CAGR for global offshore wind capacity addition will be 28%. From 2029 to 2034, the CAGR is going to reach 15%. In China, in the 15th Five-Year Plan, the government outlined the goal of accelerating development of a clean, low-carbon, safe, and efficient energy system. Of course, by 2030, non-fossil energy will account for 25% of total energy consumption. Chinese government also talk about the local development and utilization of distributed energy and plan for green hydrogen, ammonia, and methanol, building new power systems, enhancing the complementary mutual support and safety resilience of the power system. On the right side, you could see China's key wind power market. This year is the beginning of the 15th Five-Year Plan. Last year, the company has look at the global industry development and the industry trends to revise our new five-year plan. We focus on four areas, especially green environmental operation compliance and giving back to the community. We also drafted the goals for all these fronts. Let me give you a few examples. For example, on green environmental operation, we'll make sure we have a carbon neutrality on operational level by 2030. We hope that the greenhouse gas emission per megawatt will be declining by 20%. By 2031, 100% of our global production operation will be powered by green electricity. By 2030, the carbon emission intensity of core components of our generator units were down by 8% with 2025. We also have other goals like recyclable turbines and 100% construction waste and packaging materials recycled. All in all, Goldwind has really value ethics and compliance and looking for sustainable development. In the last few years, the company has definitely delivered excellent job on ESG fronts. We definitely have been highly recognized by our stakeholders in and out of the industry. During the 15th Five-Year Plan, Goldwind has set ambitious ESG goals to better respond and protect our stakeholders' interest. That's all for me. Thank you all.