Good evening. Thank you for joining Hutchison Telecommunications Hong Kong Holdings 2023 annual results webcast. Today, we have our Executive Director and CEO, Mr. Kenny Koo, and our CFO, Mr. Marcus Ng, to give you an overview of our 2023 annual results. During the presentation, please feel free to raise your questions in the messaging section on the left-hand side of the screen. We will address your questions during the Q&A session, which will follow after Mr. Koo and Mr. Ng's presentation. First, we are pleased to have Mr. Koo to give us an update on results highlights, followed by business review and development. After that, Mr. Ng will present our financials and sustainability efforts. Then Mr. Koo will conclude with an update on our 2024 outlook. Mr. Koo, please. Good evening, and welcome. Before giving you an update on results highlights, I would like to share with you the key achievements in 2023. Hong Kong moved on from the pandemic in 2023. Local business activities gradually resumed, and global travel recovered rapidly, approaching the pre-pandemic levels. Outbound roaming revenue witnessed an 83% year-on-year increment, thanks to the recovery in global travel. Our net service revenue increased by 8% year-on-year, mainly driven by the strong recovery and decent growth in premium segments and prepaid business. Our 5G penetration reached 46%, increased by 16 percentage points compared to last year, partly because of the encouraging increment of 93% in 5G broadband customer base. SUPREME, our new premium brand, launched in March 2023, which gross ARPU was 257% higher than the group's non-SUPREME gross ARPU in 2023. Our prepaid revenue from SoSIM increased by 99% versus last year, which continues to be another driver for the service revenue growth. Now, let us move on to the financial highlights. Service revenue in 2023 increased by 8% to HKD 3.5 billion, mainly driven by a strong recovery of roaming service revenue, which increased by 77% against last year. Roaming service revenue recovery in 2023 was over 70%, 70, compared to pre-pandemic level in 2019. 5G penetration increased by 16 percentage points to 46% amid a higher Hong Kong postpaid customer base. The EBITDA increased by 3% compared to last year, mainly driven by the improvement in total margin. With the improvement in EBITDA, EBIT improved by 15%, 15, compared to last year. Our customer base improved to 4 million, a 21% year-on-year increase in the number of customers, driven by higher prepaid subscriptions. Cash position was maintained at a very healthy level, with cash of more than HKD 3.6 billion on hand. The board is pleased with the turnaround in profitability of the Group's Hong Kong business in 2023, and is optimistic towards the Group's near-term outlook of stable business growth, while staying vigilant amid ongoing economic uncertainties. The same as last year, we targeted to distribute the same dividend payment as 2020 for HKD 361 million until the net profit of the year exceeds the amount. The board recommends payment of a final dividend of 0.0521 HKD per share for 2023. So now, let me give you an update on our business and development in 2023. This year, we remain committed to building the best 5G network in Hong Kong. To ensure an excellent network to accommodate all customer needs, we have taken the lead to initiate network upgrade projects in multiple hotspots in Hong Kong seas. The 8T8R antenna configuration have been created for increasing the transmission speed and stability, as well as improving 5G coverage in the seas. So to tackle signal interference at sea, the innovative eMIMO Pro technology has been adopted. Successfully reduced the interference by software and further enhance communication quality at sea. Upon completion of the upgrade projects, test results show a significant increase in upload and download speed at seas. So as normalcy resumed, MTR station became busy again, resulting in substantial increase in usage. So to handle the surge in traffic volume, we have initiated network expansion projects across nine MTR lines, covering 65 stations. The completed project increased network capacity and also achieved a more effective resource allocation, with more spectrum assigned in MTR station and network offloading strategy implemented. So both data traffic volume and end user data speed proved to have increased after project completion. The excellent network that we provide also includes the roaming network around the world. The outbound roaming revenue saw an impressive increase of 84% against last year, and recovered more than 70% of 2019's, the year before COVID outbreak. The key factor behind the success in capturing roaming revenue lies in the dedicated efforts that we have put in several initiatives. For example, we are Hong Kong's first operator to support cross-network roaming in popular travel destination, enabling seamless roaming experience for customers. We also offered them 200 5G roaming networks for customers, providing customers with abundant choices of roaming services. For 5G adoption, a 16 percentage point growth in 5G penetration was recorded against last year, supported by our outstanding network performance and competitive packages. We offer a range of promotions, such as competitive offers for 5G plans, offers for flagship handsets. For example, trade-in services with guaranteed priority pickup and exclusive offer of flagship handsets. Other offers with value-added services as bundle as well. We come to 5G broadband, which has continued to witness encouraging growth this year. Our active base was gone up by 92% year-on-year. The new sales revenue increased by 24% year-on-year, contributed by the new plans launched in May 2023. Both the mass and corporate market are targeted customer segments. For mass market, we targeted rural areas, villages, and tenement buildings, where fixed broadband might be costly or unavailable. We have a special team with mobile booths to provide tactical and fresh offers for selected areas. We can therefore better utilize our network resources and confidently provide our services in these areas. Our 5G broadband also offers significant benefits for corporate customers. With our ultra-high speed and low latency 5G networks, the 5G broadband customer are able to provide seamless electronic payments and connect necessary business equipment, such as CCTV, resulting in a more effective deployment of resources in terms of time and manpower. This is particularly beneficial for temporary outdoor merchants in the night markets involved in the Night Vibes Hong Kong campaign. That the merchants in fruit markets and are also the merchants in rural communities. Another key highlight in 2023 is the debut of our prestigious new brand, SUPREME. Being part of the group's multi-brand strategy targeting esteemed customers, SUPREME was launched in March 2023. Riding on its top-notch customer service team, world-class network, and the innovative services, SUPREME provides unique digital lifestyle and experience for high-spending customers. With priority network access alongside abundant network resources, SUPREME customer enjoy robust and ultra-fast services tailored to their new digital lifestyles. So SUPREME customer are also entitled to various exclusive benefits, such as personal executive services, priority access to flagship handsets, service plan upgrades, and invitation to events, for example, concerts, water music festival, and Art parcel. So with the differentiating features, as aforesaid, SUPREME's gross ARPU was 257% higher than the non-SUPREME gross ARPU of the group in 2023. Another area, SoSIM, our prepaid flagship product, is also one of the promising revenue drivers. Its active base increased 76%, and the recharge ratio increased by 8 percentage points against last year, supported by the reward programs launch. So revenue of SoSIM increased by 99%, contributed by continuous promotion to inbound China traveler, in addition to expanded distribution. So SoSIM also provided flexible roaming package to users. Benefited from the resumption of global travel, SoSIM's roaming revenue accounted for 13% of its total revenue. So corporate solution is another focus area of the group. Our brand-new 5G solution hub, DIGIBox, was launched in December 2023, showcasing over 40 innovative 5G application solutions. Latest technologies such as AI, blockchain, cloud computing, are applied in the solution and are applicable to different industries, which are demonstrated in seven dedicated zones, named it as Smart City, Smart Care, Smart Port, Smart Restaurant, Smart Retail, Smart Education, and AI in the Future. Through the launch of DIGIBox, the group aims to share technological achievements, foster innovation, and provide a platform for various industries to explore and adopt these application solutions. Here are some examples of the corporate solution introduced in last year. Riding on this close ties with our members of the CKH Group to achieve synergistic device, we have entered into strategic collaboration with Hutchison Port Holdings Trust to deploy advanced 5G technology to implement some innovative pilot projects in the terminal, which have proven effective in operation cost reduction and enhancement in operational efficiency. In March 2023, we collaborated with Resorts World Cruises and Hong Kong Chinese Orchestra to showcase Hong Kong's first ever live broadcast concert from a cruise ship, which underscore the group's advanced 5G network capabilities and unlimited possibilities for 5G applications. For 5G broadband solution, as mentioned earlier, corporate customer are able to provide seamless electronic payments and connect necessary business equipment for improvement in operation efficiency. We have also introduced the 5G flood detection solution for smart car, sorry, smart car parks, to tackle the recent frequent occurrence of flooding caused by extreme weather conditions, which can enable property management company to make immediate arrangement to minimize potential losses for car owners. So now, I will pass the time to Marcus. Okay. Thank you, Kenny. So let me walk through the financial highlights with everyone. So first, let's talk about the revenue. Our year-on-year revenue remains flat at about HKD 4.9 billion, mainly driven by our service revenue of 8% growth, resulting from the 77% recovery of our roaming services compared to last year. However, partially offset by our hardware and other product revenue decreased by 15% due to weaker demand and prudent market sentiment. Next, let me talk about our subscribers. As mentioned by Kenny earlier, our subscribers reach about 4 million, as represent about a 16% growth compared to the first half of 2023, and a 21% growth compared to last year. Mainly benefited from our prepaid subscriber increase of 38% year-over-year, while our postpaid subscriber remains flat. Next, let me talk about the customer KPIs. It's very encouraging. Our net ARPU is increased by 4%, mainly contributed by our recovery in roaming revenue. Unfortunately, our postpaid churn was increased by 0.2% due to the post-pandemic reduction in work-from-home arrangements from groups, corporation company, customers. In terms of our 5G customer base, we're able to increase by 52% compared to last year, and our 5G penetrations was increased by 16 percentage points to 46%. In terms of our 5G home broadband base, we were able to increase by 93% year-over-year. Next, let's talk about our expenditures. In terms of operating expenses, unfortunately, were increased by 11%, but that's mainly due to the higher network operating costs, as well as an absence of compensation income from a third party in relation to early terminations of contract last year. In terms of depreciation and amortization, were increased by 2% due to our 5G network, expenses, and enhancement. However, we have reached our peak of 5G expansion, so our capital expenditure, we're able to reduce by 3% to HKD 481 million. Our EBITDA less CapEx were 6% better than last year, and our CapEx over service income were 1% lower than last year, at 14%. In terms of cash, we're in a healthy position and remain at about HKD 7.3 billion. Next, let me walk through the sustainability in 2023. Focusing on the four pillars from governance, sustainable business model and innovation, environment and social, I'll highlight some of what we have done in 2023. For our employees, 92% of our employees had received training in anti-corruption and ethics and integrity, while their average training hours at 22 hours, which is better than last year. We had no legal cases regarding corrupt practices in 2023. Lastly, we were able to on track with our target on carbon intensity by reducing 70% and 90% in 2025 and 2030, respectively, compared to our 2022 baseline. That's all. Let me pass on to Kenny to talk about our 2024 outlook. Thank you, Marcus. Looking ahead in 2024, we continue to amplify our roaming uptake, deepen market share, and enhance user experience. So we will focus on elevating top-tier offerings with premium service to drive the growth in SUPREME segment. Online sale channel will be strengthened to attract young customers and enhance our appeal effectively. For inbound travelers, we need to also be catered by leveraging various channels led by SoSIM. We will also make use of the advanced technologies to enhance the offerings and deliver superior connectivity services for corporate customers. In view of the increasing demand of both consumers and enterprise segment, we are dedicated to further explore the mobile and fixed network service convergence possibilities. So thank you, and this is the end of our presentation. Thank you, Mr. Koo and Mr. Ng. That's the end of the annual results presentation, and we will now continue with our Q&A session. Let me see. I see some questions on the platform, and let me try to group some. There are some questions about postpaid subscriber number. One of them is that, noting your postpaid subscriber number remained flat, but ARPU has increased by 4% year-on-year. What is the driver of increased ARPU? What is your 5G performance in 2023 in terms of ARPU uptick, penetration, and target? Maybe Kenny, can you please help with this question? Okay, thank you for your question. The increase in local postpaid ARPU was mainly due to higher revenue from the group's roaming segments, resulting from the roaming market recovery. And 5G customer base has also expanded, as disclosed in our results. With the group's 5G penetration increase to 46% of our postpaid customer base in Hong Kong, an improvement of the 16 percentage points versus 2022, and 8 percentage points versus the first half of 2023. So we are confident that the 5G uptick and penetration will continue to rise in the near future. Thank you. Thank you, Kenny. Some questions about the company's loss position for 2023. Some analysts are interested in management's view on when the company is expected to break even or turn around. And do we have any measures on cost management or any revenue growth initiatives to be implemented? Marcus, can you please help with that? Okay. Thank you, thank you for your question. The group is encouraged by the robust improvement in profitability for the Hong Kong business in 2023, and is optimistic towards the group's near-term outlook. Loss attributable to shareholders has considerably narrowed by 67% compared to last year. We have gone through tough times and moved on from the pandemic. The post-pandemic recovery has driven an enhancement of the group's overall financial performance. We have put a lot of efforts in both land and sea network enhancements in terms of the quality of and coverage to elevate customer experience and to maintain our network market competitiveness. We are also proactive in introducing leading-edge corporate solutions for business to accelerate digital transformation. Our key revenue drivers, including roaming, 5G postpaid, including our home broadband, are all reported encouraging results in 2023. We are also seeing a notable recovery in roaming service in 2023. On top of this, we're confident that with our enhanced and strong network, our 5G uptick will continue to grow alongside with our 5G broadband. Our corporate solution is another focus area, and more effort will be put into this segment in 2024. And taking all these positive factors into account, the board and management are optimistic about a healthy revenue growth outlook in 2024. In terms of cost management, we will remain vigilant in controlling expenditures and ensure that all the resources are adequately utilized to meet operational and technological needs in a post-pandemic market. On the other hand, we'll continue to pursue a digital focus and introduce new business models and innovative solutions. The peak of our 5G CapEx has passed, and we will focus on network enhancement and digital transformation projects to further improve our cost efficiency and customer experience. CapEx will be stabilized and gradually reduced in the near future. In 2023, the total margin increased by 7% year-over-year, so attributable by roaming revenue recovery and stable local service revenue. Thank you for your question. Thank you, Marcus. A lot of analysts are interested in the company's cash position. They realized that the company has maintained about HKD 3.7 billion cash on hand as at the end of last year. Given the interest rate is expected to go down in 2024, is there any plan to use the abundant cash? Will the company plan to declare further special dividend? Can you... Kenny, can you please help with that? Okay, thanks for the questions. In 2023, we benefited from the interest rate hikes, and the group's bank interest income witnessed a threefold increase. Meanwhile, we'll continue to review our cash position and any potential investment opportunities. We consider every time before the results announcement, the use of surplus cash, taking into account the cash position and any potential investment opportunities, at which special dividend could be considered where appropriate. However, special dividend will not be recommended to distribute at this time. Thank you. Thank you, Kenny. Some questions are about the recovery of roaming revenue. Some analysts would like to know when the roaming revenue is expected to fully recover, and how the company plans to increase roaming revenue and grab further opportunities. Kenny, can you please help? Thanks for the questions. As mentioned, roaming service revenue increased considerably by 77% year-on-year in 2023, and recovered about 71% of the pre-pandemic roaming revenue. So outbound roaming revenue even increased by 83% year-on-year, with a recovery rate of 75%. So in 2023's second half, actually, the group's total postpaid roaming customers has surpassed the pre-pandemic level, which is 2019's second half, which is truly encouraging. And And the group is providing over 200 5-year roaming networks to meet and exceed the customer needs for provision of impeccable roaming services. So we are also the only platform connecting to the three major network providers in Mainland China, for example, to offer the cross-network roaming services, which is popular with Hong Kong residents traveling to and returning from the Mainland for leisure. Thank you. Thank you, Kenny. Some questions are about 5G broadband. What's the company's update on 5G broadband, and is there any room for growth given the competitive market? Kenny, can you please help again? Okay. Thanks for the question again. Our 5G customer base for 2023 expanded by 52% compared to last year, driven by our outstanding network performance and effective strategic initiatives. The group's penetration rate has increased by 16 percentage points to 46% of our postpaid customer base in Hong Kong. Versus 2022, it is just 30%. The first half 2023 is 38%. For the mass market, as mentioned, we targeted rural areas, villages, and tenement buildings where fixed broadband might be costly or unavailable. For corporate, this is particularly beneficial for temporary outdoor merchants in the night markets, even in the food market and the rural communities. So with our ultra-high speed and low latency 5G networks, we think 5G broadband customer are able to provide seamless electronic payments and connect necessary business equipment, such as CCTV, resulting in a more effective deployment of resources in terms of time and manpower. Last but not the least, actually, our current penetration of the whole household market is only in a single digits percentage, so there's still a lot of headroom to grow the market. Thank you. Thank you, Kenny. While we still have quite a lot of questions, let's have our last question of the day for now, in the interest of time. For any unanswered questions, please do not hesitate to email us, and we will follow up on that. So the last question is about hardware and other revenue. What triggered the considerable decrease in hardware and other product revenue in 2023, and are you expecting this trend to continue in 2024? Kenny, could you please elaborate on that? Okay. Thanks for the question again. The decrease in hardware and other accessory product revenue was mainly due to the weaker demand and the prudent market sentiment. So hardware revenue can only be boosted unless the upcoming flagship mobile phones come with a breakthrough in technology or astonishing new functions. Among the group sales segments, hardware sales have not been our core focus or the major margin contributors. Given the hardware and other product is a lower margin segment, a decrease in the related revenue had only a very limited impact on the whole group's margin. So the total margin, in fact, witnessed a 7% year-on-year increase to more than HKD 3 billion, driven by the revenue mix with an increase in high-margin service revenue. So, we will keep eyes on the hardware market. Thank you. Thank you, Kenny. I think that will conclude our briefing session today. Thank you again for joining us, and thank you for your time. Of course, thanks to Kenny and Marcus as well. Have a good night. Thank you.