Good afternoon, ladies and gentlemen. Welcome to the Taiwan Mobile conference call. Our chairperson today is Mr. Jamie Lin. Mr. Lin, please begin your call, operator is standing by. Thank you. Thank you, operator. Good afternoon, everyone. Welcome to Taiwan Mobile's Q4 2025 results conference call. Before I start our presentation, please refer to our safe harbor notice on this page. Now let's take a look at our business overview. Please turn to page four for 2025 highlights. 2025 was a landmark year for Taiwan Mobile, defined by robust financial performance and the disciplined execution of our growth strategies. Our core engines, namely Telco Plus, and new Telco Plus Tech, generated significant momentum, driving consolidated EBITDA to all-time high and pushing EBIT up 6% YoY to a 14-year peak. This profitability was bolstered by AI-driven operational efficiencies and the realization of T-Star merger synergies. With net income and EPS of TWD 4.77, reaching nine- and seven-year highs respectively, we have proven the success of our evolution into a new breed of enterprise at the intersection of telecom and technology. Unlike pure play tech companies, we command underlying critical infrastructure, including high speed connectivity and high power data center capacity. This Telco+Tech ecosystem creates a formidable competitive moat, one where AI doesn't just optimize our digital interfaces, but fundamentally redefines our physical operations and new business creation. We're not merely participating in the AI cycle, we're providing the essential platforms that power it. Now let's take a closer look at our mobile business on the next page. Turning to our core mobile business, our sustainable growth foundation strategy continues to yield impressive results. This is underscored by a record low post-paid churn rate of 0.59%, which is a formidable 13 basis points improvement over last year, as well as a 3% YoY increase in smartphone ARPU to TWD 687. We continue to see high quality growth in our user base, particularly within the 5G segment. 5G penetration reached 44%, three percentage points YoY increase, fueled by strong demand for the iPhone 17 series and our unique bundles. The migration from 4G to 5G remains a powerful revenue growth driver, with conversions yielding a 53% uplift in monthly fees, while blended contract renewals saw a 7% uplift. These factors supported a 10% YoY growth in 5G revenue, which now contributes 68% of our total mobile service revenues. Looking at the broader landscape, we're seeing a very healthy industry environment that focuses on value competition. Total number porting volume declined by 17% in 2025 as a result. Next, let's turn to page six for updates on our home broadband business. Our home broadband business maintained steady momentum, posting a 5% YoY revenue growth in Q4. This performance is driven by a compelling value proposition. For instance, our 1 Gbps plan offers customers up to 40%, 42% savings compared with the market leader. Growth was further bolstered by our expanded footprint and double play bundles, which seamlessly integrate mobile data broadband and premium OTT content like Max and Netflix. By partnering with other MSOs, our service coverage now exists 90% of households island-wide, positioning us for continued market share gains. The upgrades toward high-speed connectivity also continues. Our subscriber base for 300 Mbps and above speeds surged 27% in 2025, growing at nearly twice the speed of the market leader, proving the strength of our high-tier offerings. Now let's take a look at our Telco Plus business on the next page. I'm excited to formally introduce Telco Plus as our growth engine number three. This segment is the cornerstone of our enterprise strategy, leveraging our Gift-as-a-Service model to provide cloud AI cybersecurity solutions. The growth here has been exceptional, with revenue climbing at 26% in 2025, bolstered by significant government SI projects and the successful launch of our AI data center business in Q3. As enterprises accelerate their AI transformations, Taiwan Mobile is ideally positioned to be their partner of choice, further fueling the growth of our overall telecom service revenues. Next, let's move on to our new Telco+Tech businesses. Our fourth engine, new Telco+Tech, delivered a solid 12% revenue increase in 2025, fueled by the rapid scaling of our digital ventures. Our direct carrier billing business, or in Mandarin, grew 7% as we expanded our service portfolio to drive recurring usage. By deepening integration across more digital platforms, we're seeing an increased adoption of carrier-based payments through our user base. Our e-commerce services for brands, or in Mandarin, saw its revenue jump by 74% QoQ, driven by e-commerce, high season, and new client acquisitions. We will continue to leverage group synergies and data-driven insights to capture market share and enhance marketing efficiency. Finally, let's take a look at MoMo. Despite a challenging broader operating environment, MoMo's core fundamentals remain resilient. We maintained a stable 13.6% pay rate and grew our active user base by 3% YoY. This stability is supported by the strong traction in our high growth segment, the MoMo shop+ third-party marketplace in our retail media network or RMN. In 2025, the 3P platform achieved triple-digit GMV growth and now offers an expansive selection of over 3.4 million SKUs. Our RMN on the other hand is also proving to be a significant competitive advantage. We have already reached 40% merchant penetration with MoMo as delivering ROAS. That is ROAS, that's 1.5x that of other market players. This performance underscores the superior precision of our platform and high value we provide to our brand partners. With that overview of our strategic process, I'll now turn the floor over to our CFO, George Chang, for a detailed look at the financials. Thank you, Jamie. Good afternoon, everyone. Let's start with the performance by business. In 4Q 2025, our telecom business delivered 12% year-over-year revenue growth and accounted for 45% of consolidated revenue. In addition to steady performance in our consumer telecom business, where mobile service revenue reached a 12-year high, contribution from government SI projects and our new AIDC drove telecom service revenue up 15% YoY to a record high. As for profitability, telecom EBITDA grew by 12% YoY and contributed 79% of consolidated EBITDA in Q4. The YoY increase was driven by mobile plan upselling and disciplined management of subsidies and marketing expenses. Let's go to result summary. In Q4 2025, revenue, EBITDA, and operating income all reached record level not seen since 2014 when T-Star and APT first entered the 4G market. This highlights a full structure recovery as we move beyond the decade-long 4G price competition and reestablish new performance high. For the full year, while consolidated revenue was flat, EBITDA and operating income went up by 2% and 6% respectively. This was supported by an industry-leading telecom EBIT YoY expansion of 18%, driven by network consolidation synergies. On the non-operating side, the YoY increase in losses was primarily driven by a high base effect from one-off gains booked in 2024. Excluding these gains, the full year net income and EPS for 2025 would have increased by about 10% YoY. Additionally, the rising interest expenses stems from the issuance of convertible bonds, and is recorded on an accrual basis with no cash impact. Let's move on to balance sheet. The YoY decline in cash and cash equivalent was primarily attributable to MoMo's use of internally generated cash flow to fund CapEx expenditure and dividend payments while maintaining a debt-free position. PP&E decreased YoY, reflecting a moderation in cash CapEx. Conversely, the right of use of assets and non-current lease liabilities rose YoY in QoQ, following the commencement of our new AI data center in Q3. We also reduced the gross debt by TWD 9 billion YoY, a testament to our disciplined capital allocation and robust cash generation. Supported by healthy cash flows, our net debt to EBITDA ratio improved YoY, while consistent profitability kept our ROE steady at 15%. Lastly, let's look at cash flow on the next slide. In Q4, operating cash flow rose 16% YoY, underpinned by EBITDA growth and favorable working capital dynamics. This was mainly driven by an increase in accounts payable, reflecting business expansion in iPhone bundles and enterprise projects. For the full year, operating cash flow grew 4% YoY. This was led by strong momentum in our telecom business, which more than offset a softer performance in our e-commerce segment. Long-term investing cash outflow moderated in 2025 compared with higher investment levels seen in 2024. Financing cash outflow increased, primarily reflecting the repayment of long-term borrowings. Our 2025 cash CapEx saw a slight uptick, mainly due to the payment of MoMo's central distribution center. In contrast, telecom cash CapEx decreased by 5% YoY, reflecting a moderation in 5G network deployment. Finally, supported by robust operations, full year free cash flow rose 9% to TWD 21.49 billion, translating into a solid free cash flow yield of 6.5%. Let me turn the presentation back to Jamie for event update and key message. Thank you, George. Let's turn to the next page for 2025 earnings distribution. Regarding our 2025 earnings distribution, the board today approved a proposal to distribute TWD 14.52 billion in cash dividends, or TWD 4.8 per share. The DPS is 7% higher than the previous year and marks our highest since 2019. This represents a payout ratio of over 100% and a cash dividend yield of approximately 4.5%, which is the highest among our peers. Let me walk you through our 2026 guidance. Looking ahead to 2026, we are guiding for consolidated revenue growth of 5%-7% YoY. This momentum is mirrored in our telecom-related revenues, also projected to rise by 5%-7%, driven by ongoing migration to high-value 5G plans and the scale of our AI-enhanced ecosystems. On the bottom line, we expect telecom operating profit to grow 4%-6%. While we continue to invest in our Telco+Tech transformation, we are increasingly leveraging AI to optimize operational efficiency and personalized customer engagement, ensuring a stable upward trajectory in operating income. To support this growth, the board has approved a total CapEx budget of TWD 8.24 billion for 2026. Of this total, TWD 6.13 billion is to be allocated to mobile and fixed networks to reinforce our 5G network quality and capacity. The remainder will be strategically deployed across cable broadband, digital TV, and e-commerce, focusing on expanding our Telco+Tech footprint and AI-driven service capabilities. While these figures represent our approved budget, actual cash payments for the year will remain subject to the specific timing of our network deployment and the completion of system provisioning. Now please turn to the next page for our awards and ESG recognitions. Taiwan Mobile continues to lead sustainability, achieving 17% renewable energy use in 2025, significantly surpassing our original 14% target and accelerating our net zero roadmap. Our technical leadership was further validated by Opensignal H2 2025 report, where we secured top ranking in video experience, 5G video, 5G voice app experience, and availability. This recognition reinforces our commitment to providing the most reliable and highest quality connectivity for our users. Our ESG excellence was validated by the TIP Taiwan Sustainability Ratings, where we received the highest triple A rating, ranking amongst the top 5% of all listed companies in Taiwan. We're also honored to be the inaugural winner of the Cultural Impact Award from the ESG for Cultural Impact Awards hosted by TAICCA, highlighting our unique contribution to the creative industry. Furthermore, we received the 2025 CSEA Excellent Customer Service Award for our industry-leading AI system applications and team performance. Finally, we're proud to be named Best IT Employer for the third consecutive year and to receive Commonwealth Magazine's CSR award for the eighteenth time. These accolades, alongside our Talent, Sustainability, and Family Friendly Workplace Awards underscore our long-term commitment to our people and society. Finally, to wrap up the presentation, here's the key message we would like for you to take away with. Key message. Taiwan Mobile delivered a landmark year in 2025, achieving record high EBITDA and solid growth across all key financial metrics. For 2026, we're confident in achieving our guidance via three pillars. Number one, reinforcing the core, driving growth through unique bundles, cross-selling, and superior network quality while maintaining cost discipline. Number two, accelerating Telco+, leveraging AI capabilities and strategic partnerships to capture expanding enterprise demands. Number three, scaling Telco+Tech, maximizing group synergies and our vast user base to scale new tech services. With that, let's open the floor for questions. If you're participating online, you're more than welcome to send your questions via the chat box. We will begin by addressing the telephone line queries before we move on to the web. Operators, please. Operator, please go ahead. Thank you, Mr. Lin. Ladies and gentlemen, we will now open for questions. If you'd like to register for a question, please press star one on your telephone keypad. Thank you. Our first question comes from Sigrid Qiu with J.P. Morgan. Please go ahead. Thank you. Hi. Thank you, management, for the opportunity. I have a few questions. Maybe, if it's okay, let me just take them one by one. Firstly, I probably missed it because my connection is a bit poor over here, but could you just explain why our bottom line for FY 2025 is growing faster than EBITDA and also revenue line, please? Oh, thank you. Our bottom line is growing faster, mainly because of the operating leverage and also merger synergies. The operating leverage we're able to extract from implementing AI and improve our efficiencies. I see. I think, someone mentioned about interest income. Is it possible for you to repeat that point? I'm sorry. The connection's a bit poor over on my side. I think you were referring to the interest expenses. We were talking about that interest expenses did increase year-over-year, mainly due to the issuance of convertible bonds in 2025. Again, that's non-cash accrual basis. Understand. Thank you very much. My second question is, we mentioned that we actually have effort over at AI data center. I just want to understand, how much of a IT capacity that we have right now at our AI data center. What's our ambition, going forward for AI data center business? How much capital are we committing into growing this part of the business? Thank you for that question. We came to the market with the 25 MW AIDC located in Northern Taiwan in Q3 last year. It was received with very strong customer feedback. This year we're gonna be moving rather quickly in terms of structuring partnerships with data center developers to bring more capacity to the market. In terms of CapEx, we are not expecting huge cash outlay into the strategy as we will be mainly partnering with data center infrastructure developers instead of developing the actual real estate ourselves. Understand. Thank you. My next question is it possible for you to explain the potential higher handset subsidies that we might have with new device launches? I would just want to understand, you know, with higher device price, what is the impact from potentially higher handset subsidies? I don't think that's anything new. If you look at Apple, they have been steadily raising their iPhone Pro series prices over the past few years. The net result of our unit subsidy as a percentage of MSR has not been going up. It's actually been decreasing. I think we have proven our ability to manage a rising handset price macro, and I don't think that's gonna change this year. Got it. Thank you. My last question is regarding dividend. This year we're distributing dividend at over 100% payout ratio. I just want to get a sense from management, you know, what's our dividend formalized dividend policy, and what do we think of dividend going forward? Well, not the first time, but if you look at the previous years, our dividend payout has been exceeding our EPS, right? Especially during the time that we had some 4G price competition. Last year, despite that, the payout was 100%, which was actually lower than 2023. In absolute dollar terms, it was actually very high. This year you can see that we further boost on the absolute dollar basis. Probably if you look at this year and last year, it gives you a fairly reasonable indication that we are shooting for a similar payout going forward. If last year was 99%, this year is 101%, you can probably take a reasonable guesstimate that we'll try to maintain at similar levels. While our EPS. Got it. Thank you very much. Sure. Thanks. Operator, I think this will be a great chance to address this question coming from the online chat box. Annie Tai from Yuanta is asking in Mandarin. For the English-speaking audience, Annie Tai is asking, 2025 dividend is said to be TWD 4.8, while our EPS was TWD 4.7. The payout ratio is above 100%. And I assume it's her. She is asking or Anna is asking, which is probably a better way to address. Anna is asking where the funding is coming from for the above 100% portion, and we'll have George, our CFO, address that. Okay, yes the payout is over 100%. There's a small portion that will be coming from the paid-in capital reserve. Bear in mind that starting from next year, we pretty much will have all the legal reserves fulfilled. Which means that next year, we probably will be using less and less or even very little from paid-in capital reserve because we don't have to reserve for the legal reserve anymore. Operator, do we have any more questions from the telephone line? No questions at the moment, Mr. Lin. Once again, ladies and gentlemen, if you'd like to register for a question, please press star one on your telephone keypad. Thank you. Okay. If that's the case, we'll address another question coming from the online chat box. It's from Chris Gee, who is an individual investor, and his question is, "2025's annual CapEx guidance was TWD 8.58 billion, but 2024 TWD 1 billion. But 2025's cash CapEx came out as TWD 11.2 billion. Could you give some color on this year's CapEx guidance? Well, that's a little bit difficult question because, as you can imagine, there's always a time lag. As we mentioned briefly earlier, one of the reasons that we are seeing a bigger or a larger cash outflow on the CapEx side in 2025 was because of MoMo's payment to the central distribution. That has actually been accounted for and budgeted for in the accrued CapEx. When we talk about CapEx budget, it's always on accrued basis. There's always a little bit difference between accruing the cash. For 2026, again, earlier guidance was also on accrued basis. At this point, I cannot be 100% precise of telling what the cash CapEx will look like, but I will probably assume it will be similar to the accrued basis. I don't know if that answers your question. Thank you, George. Operator, do we have more questions coming from the telephone line? No questions at the moment, Mr. Lin. Once again, ladies and gentlemen, that is star one for questions. Thank you. Once again, ladies and gentlemen, that is star one key for questions. Thank you. Yes. Mr. Lin, there seems to be no further question at this point in time. Thank you. Thank you. We also are not seeing more questions coming from the online chat box. I think that concludes our quarterly earnings call. Thank you, everyone, for dialing in. We look forward to seeing you again at our next earnings call. Thank you, Mr. Lin. Thank you, ladies and gentlemen, for participating. We will now conclude our call today. You may now disconnect. Goodbye.