Okay, good morning. Welcome to the 41st J.P. Morgan's Healthcare Conference. I'm Samantha Xie from J.P. Morgan's China Healthcare Investment Banking Team. It's my pleasure to present the next presenting company, Innovent Biologics. Innovent is a world-class biopharmaceutical company that develops, manufactures, and commercialize high-quality, innovative medicines for the treatment for cancer, autoimmune, metabolic, ophthalmology, and other major diseases. Today, joining us from Innovent is Dr. Michael Yu, Chairman and CEO of the company. Without further ado, let me welcome Dr. Yu onto the stage, please. Thank you, Amanda. Good morning, everybody. Thank you for coming to our presentation. What I would like to do today is to share with you what we have been doing, particularly, you know, in 2022, and forward, what we're going to be our focus. In last 10, 11 years, Innovent was establishing in 2011. In last 11 years, we was able to successfully launch eight products, which, as you know, in even globally, you know, not many startup, you know, within such a short period of time, be able to commercialize eight products. Meanwhile, we have 27 assets in different stage of clinical development, which actually ensure the company going to have at least two products launch every year. Most of our product actually in from biological aspects, so manufacturing, particularly CMC capability, become very essential. Innovent in last 10 years, we heavily invest in infrastructure, now become the company with the largest manufacturing capacity in China. In last 11 years, we also established 28 global partnerships, from startup to a regional player to big pharma, including Roche, Lilly, and Sanofi. We strongly believe the collaboration between companies can further facilitate the innovation and grows our business. Specifically in 2012, this is a very brief recapture for you about what we have achieved last year. For the oncology area, we was able to receive five approvable, regulatory approval, including our leading product with a new two first-line indications, gastric cancer and esophageal carcinoma. Additionally, we together with our partner, launch a Selenza and RET in China. Together we have eight commercial products. The same time, we have three NDAs for new assets, including the very first BCMA product in China for multiple myeloma, a CAR T product. We also just regulatory agency just accepted our filing for PI3K delta. Likely in this year, we're going to have additional three commercial product launch. For non-oncology, we also have 1 NDA under review, which is very first domestic PCSK9 antibody. Meanwhile, we have a full POC positive readout for three assets, specifically for the GLP-1 and the glucagon dual agonist. I can do a few slides to share with you in more details. In 2012, we further established and expanded our existing partnership with Eli Lilly. As you know, with the first deal we entered in Lilly, with Lilly in 2015. Since then, we expand the sixth time now. Last year, we cover more commercialized product from Eli Lilly in China. Sanofi, of course, is our new latest partner of Big Pharma. They not only allow us to work together with Sanofi on product development, but more importantly, now they become a shareholder of Innovent. That's the very brief recapture of what Innovent has been doing in last year. You probably would like to know more about us in terms of where we are going from here. I would like to highlight a few things for you, using three very specific keywords. One is growth, second is innovation, and third one is the portfolio. In terms of growth, if you look at the pipeline we have, you know, since 2019, we launched our very first product. As of today, we have eight. Next year and the year forward, if you look at the pipeline we have, likely by within the four to five years, company going to have about 20 approval products. Which together with those early stage and the BD development come the product from the other partners, we likely and have very confident to have potential revenue of over RMB 20 billion within four to five years, which is going to really distinguish the Innovent from the most of the start-ups with the same period of time in the regional in Asia. The near term, that's relatively long, four or five years, but near term, specifically for this year, 2023, we anticipate a very accelerated revenue growth. There are four reasons. Number one, our leading product, which is TYVYT, we just received the NDA or NRDL negotiation, participate that round, and have two new indication, first line gastric cancer and the first line esophageal has been included. Those two indications, every year in China, about 600,000 new patients. Specifically for first line gastric cancer, sintilimab is only PD-1 for this indication. We are very optimistic about this, and we're going to see the volume increase in this year, continue from our performance in 2022. Meanwhile, we are going to launch the four products in 2023. Those are going to further, you know, adding the growth of our revenue. You heard that China, this pandemic situation is still in the middle, but we anticipate this going to be really cool down in next couple weeks, if not, you know, a month. By second quarter this year, I believe pandemic issue for the commercialization and product development will be significantly improved compared to, you know, last three year, specifically in 2022, the negative impact on our business. In the last quarter call, we also updated you, company has decided and initiate a series of reform in terms of commercial operations targeted to make Innovent commercial operation to be more efficient for profitability in the near futures. Those four factors together make us believe that this year, 2023, we're going to see a significant growth in our revenue. That's the growth. In terms of innovation, about two years ago, company decide second 10 years of strategy, where the company want to invest, how to build a sustainable global business. two years ago, we established a lab in U.S., hire development people globally. Same time, we increased the discovery people in China. Now we have full scale of discovery we call Innovent Academy, led by Dr. Yongjun Liu. He, as you know, was the global head of Sanofi. Meanwhile, we focus on heavily in transformation as the platform technology and the new disease areas. Those we believe going to further facilitate the development of innovative products for our pipelines. Innovation, we also benefit in last 10 years from the collaborations. We have 28 existing partners, from Roche, Lilly to new latest Sanofi and LG Chem. Those collaborations really help us complementarily with our existing platform technology and the product pipelines. That's how we was able to launch 8 products within 11 years of history in our co-collaborations. This is the pipeline. If you look initially late as 2019, we start launch our first product. Now we have eight. Meanwhile, we have 7 NDA stage, your pivotal product stage in for seven assets. So those going to ensure that as we launch a product in the next couple of years, at least two of them each year. Meanwhile, we focus on those new platform from cell therapy to ADC to further, you know, new like engager. So those new technology in our discovery lab will help us to continue add a new and novel product in our pipelines. This is a brief recap for what we did in 2022 and what you expecting to see in 2023. We have a series of full POC read out within the year, specifically for those innovative global potential assets. Here, I would like to share with you a few highlights, five of them. Start with 362. This is the GLP-1 and glucagon dual agonist. Currently, we have three phase III study initiated. If you look at the obesity data with regimen of two, four, 6 mg, by week 24, we are able to achieve average of 11.6% percentage of weight loss. 50% of patients achieve more than 10% of weight loss for the patient populations, which as you know, compared to many commercialized products in these areas, GLP-1 and glucagon dual agonists have standing out. When we increase the dose to 9 mg, by week 12, we see more than 11% of the weight loss average in that patient population, and 50% of them has more than 10% weight loss. Again, this is very unique. Likely when compared to, you know, other product, is the best-in-class potential. Yesterday, we announced the initiation of first dosing of first patient in 2 large-scale clinical study with more than 1,100 patients in this study for diabetes. The phase II data is very encouraging. If you look at the week-20 data, 52% of them has HBA1C endpoint, less than 7%. This patient at the same time has a weight loss of 5%, which compared to any other diabetes product, this is again, is the best-in-class potential. During those larger scale studies, we also notice the lip reduction systemically, including NASH. We did a NASH study in preclinical model, demonstrate that GLP-1 and the glucagon dual agonist can dramatically improve NASH condition in our animal model. We file NDA now in this active, we're likely going to initial trial for NASH patients specifically very soon. 362 product like that in our pipeline really give us lots of opportunity, not only diabetes, also obesity, NASH, and potentially can expand it even further, like heart failure or the obesity-related sleeplessness disorder, many indication potential. This is the first product I would like to highlight for you. Secondly, with 302. This is the Eylea-based bispecific fusion protein. Same time blocking VEGF and also complement. In the complete phase II trial, side by side, compared to head to head compare with the Eylea, we see very similar efficacy in vision acuity and retinal thickness. More importantly, in that specific study, we noticed that the patient treated with this compound, we found that with reduction of macular atrophy, potentially for geographic atrophy, which today's no VEGF engine can be do that. Same time we see a reduction in CNV areas, which Eylea could not do that. Those purely preliminary data, I believe, giving this product with potentially a global opportunity for further development. The third asset we call IBI110, which is Lexli. This asset we have tested in a variety of diseases, including first-line non-small cell lung carcinoma, first-line gastric cancer, first-line hepatocellular carcinoma. In first-line lung small cell lung carcinoma, we see a combo study ORR of over 80%, which as you know, not many agent today, even ORR, you can achieve that. We very actively pursue to including more patient, expanding in the expanded trial to confirm that initial observations. More importantly, come with IBI939, which is TIGIT. This TIGIT is different from Roche, from Novartis, from Merck's. It's based on IgG4, no ADCC activity, which most of the people before believe that TIGIT need ADCC. In this specific study, in the first line lung cancer with PDL1 TPS more than 50%, we see a PFS 11 months in the combo versus single PD-1 six months. You almost doubled PFS. We are very positive about this asset, including more patient, design a phase ii/phase III trial, potential for a registration if we can confirm fully for the ongoing POC studies. The last is not least for our next generation of PD-1, which is a fusion protein of PD-1 antibody with engineered IL-2. This IL-2, again, are differentiated from many other cytokine. By engineering this cytokine, blocking or attenuated beta and a gamma receptor, but biases for alpha. In clinical model, we demonstrate that this fusion protein is very active, can be overcome the PD-1 resistance or PD-1 refraction in animal model. We are actively in those escalation study in Australia, and we hopefully we can develop this agent for those PD-1 non-responder or PD-1 resistant as our, you know, one of the many next generation PD-1 molecules. This is just a very brief highlights for the assets we selectively from our 27 asset pipelines. 2023 going to be a very busy year for us. We anticipate several significant milestone and a catalyst during the year. From regulatory actions, we anticipate have five approvals, including three new products launch. Regulatory acceptance and new studies, we have seven of them, phase III study. POC read out in more than 10. Going to be a very busy, productive year in 2023. Takeaway key message. I would like you to... Again, thank you for being part of this presentation. I want you to, the key message to take with you is, Number one, we anticipate to see a significant growth in revenue. Number two, the R&D area, you're gonna see a significant milestone during the year. Before the end, this is last slide. I will again come to refresh what we did share with you two years ago. For the second 10 year of Innovent history, we are determined. We will take a five year for us to become a regional leader players in Asia, prepare for by 2030, we like to become a premier biopharma globally. Thank you. Again, thank you for your continued support and for your help. Thank you.