Good morning, good afternoon, and good evening, everyone. Welcome to HUTCHMED's special webcast following our announcement earlier today of the BD transaction with GSK. I'm Frederick Cheng from HUTCHMED Investor Relations, and I'm pleased to moderate today's discussion. Before we begin, please rename your display name in the format of organization followed by your name. This is going to help us to identify participants during the Q&A. Please note our safe harbor statement and disclaimer. The performance and results of operation of the HUTCHMED Group contained within this presentation are historical in nature, and past performance is not a guarantee of future results. Joining us today from HUTCHMED's management team are Dr. Dan Eldar, Chairman and Non-Executive Director, Mr. Johnny Cheng, Acting Chief Executive Officer and Chief Financial Officer, and Dr. Guangxiu Dai, Executive Vice President, Head of Discovery and Global Portfolio Management. Without further ado, it's my pleasure to invite Dr. Eldar to deliver opening remarks. Mr. Eldar, please. Chairman, I think you are on mute. Thank you, Fred. Today's agreement with GSK clearly embodies HUTCHMED's strategic vision to build a globally competitive oncology portfolio and code by differentiated innovation centered around a first-in-class novel ATTC payload platform asset with meaningful combination potential with standard of care for earlier line treatments. GSK is a leading biopharma company, world-class multinational partner with a global development reach and expertise to maximize the potential of HMPL-A830. The strategy of HUTCHMED is to generate a platform that can produce several drug candidates using AI and the experience accumulated by many years of drug discovery, development, and production. We understand that we cannot bring all our candidates to global markets by using internal resources only, and therefore, we choose the best strategy to maximize the value of each ATTC drug candidate. At times, we shall maintain all rights. At other times, we intend to license ex China rights, knowing that an excellent partner like GSK has the ability to accelerate development. Sometimes you would see us embarking on joint development and sometimes licensing global rights. This partnership we announced today is another validation and acceleration of international access that is central to our strategy. It also demonstrates how we can create the most significant shareholders' value, as well as the greatest impact on the lives of patients globally. Thank you. Fred, please proceed. Thank you, Chairman. Next, Johnny, please. Okay. Thank you, Fred, and thank you, Chairman, for sharing your vision and view of this platform and also the direction of the company. Now we just have a quick highlight of the key terms of this transaction. Our HMPL-A830 is a first-in-class preclinical asset, which is a KRAS-EGFR antibody conjugate. We are licensing HMPL-A830 ex China rights to GSK. This is a co-development deal in which HUTCHMED will be responsible for the global phase I development, and GSK will take over the ex China development post phase I. The total deal size is around $1.3 billion, including upfront of $110 million, and once commercialized, HUTCHMED will receive tiered royalties. The benefit of HUTCHMED in doing this deal is that we can accelerate the global development of HMPL-A830 and unlock multiple indication opportunities. As mentioned by our chairman, this also serves to validate our ATTC platform by a reputable multinational company. As for GSK, this transaction will expand their global oncology reach, as well as extend their expertise in this area. It also enriches and advances their next-generation R&D portfolio from ADC to ATTC. I will now pass to Dr. Dai to share with you all the details of HMPL-A830. Thank you, Johnny, and thank everyone for your time today. While KRAS is a key protein that drives cell growth, when mutated, it causes cells to divide uncontrollably, leading to tumor development. In fact, KRAS mutations are found in about 30% of all human cancers, particularly in hard-to-treat solid tumors like CRC, pancreatic, and lung cancers. These tumor types also frequently overexpress EGFR. While first-generation KRAS inhibitors have been a major breakthrough, patients often face two big issues. Number one, the on-target off-tumor toxicity limits how much drug we can safely give to patients and for how long. Secondly, the cancer quickly adapts and finds ways to bypass the treatment, frequently by turning up the upstream tyrosine kinase receptors such as EGFR. This brings us to our ATTC-HMPL-A830. HMPL-A830 consists of an EGFR antibody attached to a novel small molecule KRAS payload via a cleavable linker. HMPL-A830 is a novel therapeutic designed to hit cancer cells from two directions at once using targeted delivery. The EGFR antibody acts as a homing system. It specifically targets EGFR, which is heavily overexpressed on the surface of tumor cells. Once bound, the drug enters the cancer cell, releases the KRAS payload, and shuts down the intracellular signaling, driving tumor growth from the inside. Importantly, the antibody is more than just a delivery vector. It functions as an active drug on its own by directly blocking EGFR signaling pathway. By combining dual EGFR and KRAS inhibition in one drug, we aim to achieve simultaneous pathway blockade right where it is needed the most. Why is this strategy so powerful for patients? First, it overcomes drug resistance. Up-regulation of EGFR is a well-established mechanism that cancers use to escape standalone KRAS inhibitors. By targeting both EGFR and KRAS at the exact same time, HMPL-A830 blocks the bypass pathway before the tumor can escape. Secondly, HMPL-A830 offers an improved safety profile. By delivering the payload directly into EGFR-expressing cancer cells, we reduce systemic toxicity in normal tissues. This means we can potentially achieve better efficacy at doses that patients can tolerate. Thirdly, HMPL-A830 expands our combination potential. Because of the improved safety, HMPL-A830 can be combined with frontline standard care treatments like chemotherapy, opening up broader clinical applications early in treatment. Finally, HMPL-A830 is not just a single asset. It validates our broader ATTC platform technology. By pairing novel target payloads with antibodies, we are building a pipeline of precision medicines. Beyond HMPL-A830, which targets KRAS and EGFR, we are also advancing programs targeting PI3K/PIKK pathways across HER2 and EGFR targets, including HMPL-A251 and HMPL-A580. With global phase I trials underway, we are well-positioned to deliver a powerful new class of targeted cancer therapies. Now back to Johnny. Thank you, Dr. Dai. Just to recap our recent announcements of two positive phase III readouts. HUTCHMED and AstraZeneca are very happy with the results of both of these trials. The excellent results in terms of PFS and OS and the relevant data of these trials will be presented at a forthcoming academic conference. More importantly, in addition to milestones income, HUTCHMED will receive royalty income once all these indications are commercialized, including for the SAFFRON trial, a tier royalty of 9%-13% on global sales. We estimate around one-third of MET-amplified overexpressed patients that build resistance to EGFR treatment will benefit from this combination therapy. On the China side, as you can see, we have three indications already commercialized. Together with Sanofi, once approved, savolitinib will expand its benefit to first-line MET overexpression and EGFR mutation patients. For all these indications in China, HUTCHMED will receive 30% royalties from AstraZeneca. I will now pass it to Frederick to coordinate the Q&A session. Fred? Thank you, Johnny. We are going to take some questions from the attendees. First of all, let's have Paul Choi from Goldman Sachs. Paul, please. Paul, are you on mute? Hi. Can you hear me now? Yep, we can hear you. Okay, great. Thank you. Congratulations on the deal. I had two questions. First, in terms of clinical development timelines, currently the trial on clinicaltrials.gov is indicating relatively limited information. Can you maybe comment on how you are thinking about prioritizing lines of therapy, whether treatment experienced or not, across the three tumor types you have disclosed, lung, pancreatic, and colorectal? My second question is, given the recent approval of RevMed's RASONQUE, daraxonrasib, can you maybe comment on how you are thinking about where the clinical bar is, maybe starting with pancreatic cancer and other solid tumor types? Thank you for taking my question. Okay, thank you for your question. Well, in terms of the clinical development plan, for phase I, we are going to enroll patients with KRAS mutations, but across all tumor types, not just the CRC, pancreatic or lung. I guess, in reality, these are going to be the three major tumor types included in the phase I. For phase I, we are going to definitely start from the lay line. In the near future, we intend to initiate the combo study and to move into the first line in combination with chemo or IO. This is the initial clinical development plan. For the KRAS inhibitors, like the one you mentioned, the Revolution compound definitely is a breakthrough therapy, especially in pancreatic. We think that our molecule ATTC-A830, it not just targets the KRAS, but also targets the upstream EGFR, which has been clinically confirmed to be one of the resistant mechanisms. We believe that the ATTC would offer a more favorable benefit in the solid tumors. There is a good chance that we can either get confirmed as a monotherapy and/or moving to the front line. I hope that addressed your questions. Yes. Thank you. Thank you. Okay. Thank you, Paul. We are going to invite Adam McCarter for your question. Adam, please. Hi there. Thanks for taking my question. Great news today on the announcement. First question is really whether you could provide any details of when GSK first expressed interest in HMPL-A830, and could you give us a sense of how the discussions and the diligence process developed from that initial interaction through to today's agreement? Yeah, thank you, Adam. As you also noted that this is a preclinical asset. Certainly, I think throughout our deep platform with multiple different targets, as we mentioned in the previous results meetings, many multinational companies have constantly engaged with HUTCHMED for discussions of potential collaboration. In terms of GSK, I think this particular, HMPL-A830, actually fits into their interest, especially when they have already got ADC platform, which they have one already in the market, and they have two in the clinics right now. ATTC serves as an advancement to their next generation R&D work. In terms of our engagement, I think we have a constant dialogue with multiple multinational company. In addition to this particular transaction, we do not eliminate future opportunity and possibility that we will collaborate with other projects of our ATTC platform also. That is brilliant. Thank you very much. If I could just follow on for a second question. Just building on that GSK relationship, you said in the news this morning that GSK have secured the right of first negotiation over another earlier stage ATTC candidate. Could you provide any information on this candidate, the development stage that it is at, or expected timeline for that asset? What do you think would need to happen before a more substantive licensing discussion could begin with GSK on that? Thank you. Well, all I can say is GSK have expressed another interest on one of the early developments of ours within this ATTC platform. Of course, as we progress with our development, the level of interest may evolve further. When the time comes, I think we will have to disclose in terms of if there is further transactions with GSK. Otherwise this is a right of negotiation, first right of negotiation, because they have also expressed further interests on one other asset of our platform. The remaining other platform, of course, we have engaged with other multinational company that we continue to progress with our discussion. Excellent. Thanks very much. That is all my questions, and congratulations again. Thank you. Thank you very much, Adam. As we are approaching the end time, we are now going to conclude today's webcast. Thank you very much for your time and continued attention to HUTCHMED, and the IR team of HUTCHMED will remain available to address any follow-up questions or provide further clarifications. Please do not hesitate to reach out to us. Thank you again, and we wish you a good day, afternoon or evening. Thank you.