Good day, welcome to the BEST Inc fourth quarter 2022 results conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your question, please press star then two. Please note, this event is being recorded. I would now like to turn the conference over to the Chairman and CEO, Johnny Chou. Please go ahead. Thank you, operator. Hello, everyone, thank you for joining BEST fourth quarter and full year 2022 earnings call today. 2022 was a challenging year. The COVID-19 pandemic and its related controls seriously impacted general economy, it was very particularly hard for the logistics industry. When China lifted its restrictions in the fourth quarter, many of our employees, partners, and customers tested positive for COVID, our operation was severely disrupted. However, under such difficult environment, we prevailed. BEST Supply Chain Management beat our internal 2022 budget, increasing its gross margin by 6.3 percentage points year-over-year in the fourth quarter, while BEST Freight annual loss narrowed by 28.5% compared with 2021. BEST Global also sparked its recovery and growth at the end of the year. After lifting of COVID-19 pandemic-related controls, we have seen a rapid recovery in general economy and our multiple business lines. We are confident to deliver a strong growth and financial results in 2023. Our board has authorized an up to 20 million shares repurchase program. Let's take a closer look at each of our business units. For BEST Freight, we focus heavily on digital transformation, cost reductions, and quality improvement. Our operating efficiency and service quality has significantly improved. For the fourth quarter of 2022, despite a decrease of 7.6% in total volume, Freight's gross margin improved by approximately RMB 200 million, and its net loss narrowed by 69.3% compared with Q4 2021. For the full year, Freight's volume decreased by 6.1% but narrowed its net loss by 28.5% year-over-year. Looking ahead, service quality remains our number one priority. While continuing to improve Freight service quality through digital transformations, we are putting a strong emphasis on the synergy between BEST Global and Supply Chain Management to further reduce our costs and maximize our growth opportunities. We anticipate BEST Freight return to profitability in the second quarter of 2023 and generate positive cash flow throughout the year. Moving on to BEST Supply Chain Management. Supply Chain Management's technically know-how and superb service capabilities helped us weather the storm. Despite restrictions and shutdowns from COVID-19 resurgings throughout the year, BEST Supply Chain Management went above and beyond to make sure we provided our customers with top-quality services. Customers quickly recognized our efforts, we were rewarded with additional business. In the second half of 2022, we added 64 new key account customers. Supply Chain Management's revenue increased by 2.7% and 0.4% for the fourth quarter and full year of 2022, respectively, compared with the same period of 2021. Its gross margin improved by 6.3 percentage points to 4.4% in Q4 2022 and for the full year. Supply Chain Management's gross margin improved by 2 percentage points to 6.1%. The distribution volume for Supply Chain Management also increased by 82.1% for the fourth quarter. Supply Chain Management remains the center of BEST's synergetic logistics ecosystem. By further organizing its account structures and realizing additional operating efficiencies, we expect BEST Supply Chain Management to be profitable by the second quarter of 2023 and to generate positive cash flow throughout the year. Finally, let's take a look at BEST Global. Southeast Asia's market environment was extremely challenging over the past year. On top of the COVID restrictions in cross-border activities, relaxed pandemic control policies shifted consumptions to offline from the online, and some of the major e-coms platforms reduced their reliance on third-party logistics services, creating additional challenges for our global business. As the border opened up in Q4, we immediately adjusted our strategy and realigned our organization in response to the evolving Southeast Asia market. We greatly elevated our organization's capabilities, widened our network coverage. We also used our IT know-how to improve our infrastructure and operating capabilities, and significantly improved our service quality. As part of our on-go-to-market strategy, we have been expanding small and medium-sized enterprise coverage to diversify our customer base. The revenue contribution from those customers grew by 13 percentage points to 42.2% in Q4 2022. In addition, we are accelerating our B2B2C and cross-border business to provide additional product offerings. We believe this strategic direction will usher in BEST Global's fast recovery and profit growth for a much improved gross margin and a better cash flow for BEST Global in 2023. In summary, we believe with the ending of COVID-19 pandemic control, the worst is now behind us. During 2022, our focus on digital transformation, service quality, and customer satisfaction improvement and cost reduction significantly improved our operating efficiency and increased the customer satisfaction. BEST now is in a strong position for fast recovery and growth in both our top and bottom lines. We now expect both our Freight and Supply Chain Management business to reach profitability in the second quarter of 2023, with each business unit generating positive cash flow and strong profitability growth throughout the year. BEST Global has also proven resilient. We are seeing promising recovery trends. We expect BEST Global to grow its top line by 40% in 2023, with strong improvements to profitability and cash flow. With that, I would like to turn the call over to our CFO, Gloria, for further review of our fourth quarter financials. Go ahead, Gloria. Thank you, Johnny. Hello to everyone. 2022 was a tough year. COVID continued to hit the logistics industry particularly hard. Many factors were beyond our control, but we adjusted to the environment, and BEST has shown solid financial and operational resilience. BEST Freight and Supply Chain Management narrowed their fourth quarter net losses by 69.3% and 81.3% respectively on a year-over-year basis, even though our total revenue excluding BEST UCargo and Capital decreased by 15.9% for the fourth quarter and 9.7% for the full year of 2022. We continue to maintain a healthy balance sheet. Our cash and cash equivalents restricted cash and short-term investments totaled RMB 3.2 billion after we used RMB 1.4 billion during 2022 to repurchase our convertible senior notes due 2024. Let me walk you through our key financial results for the fourth quarter and full year of 2022. Our revenue for the fourth quarter was approximately RMB 2 billion, compared with RMB 2.7 billion in the same period of 2021. Revenue for the full year was about RMB 7.7 billion, compared with RMB 11.4 billion in previous year. The decrease was primarily due to the wind down of our UCargo business unit and the lower freight and global volume. Fourth quarter and full year revenue for UCargo were approximately RMB 962,000 and RMB 36 million, compared with RMB 350 million and RMB 2.8 billion in the same period of 2021. Our cost control measures drove improvements in our overall growth margin in 2022. For Q4, gross margin improved to -3% compared with -8.4% in the same period of 2021. Gross margin for the full year of 2022 was -3.4%. We also narrowed our net loss from continuing operations in the fourth quarter to RMB 366 million, from a loss of RMB 734 million for the same period of 2021. Net loss from continuing operations for the full year was RMB 1.5 billion compared with RMB 1.3 billion in previous years. Adjusted EBITDA for continuing operations in Q4 also improved to negative RMB 296.9 million versus negative RMB 635.2 million for the same quarter of 2021. Adjusted EBITDA for continuing operations for the full year was negative RMB 1.2 billion, compared with negative RMB 927.2 million in 2021. Moving on to key financial highlights for our business units. For BEST Freight, fourth quarter revenue was approximately RMB 1.3 billion, compared with RMB 1.9 billion for the same period of 2021. The decline was primarily attributable to the decrease UCargo revenue. The fourth quarter UCargo revenue decreased by RMB 349 million year-over-year. Gross margin made a significant improvement, up over 10 percentage points to -1.3% in the fourth quarter from -11.7% in the same period of 2021. Adjusted EBITDA for BEST Freight was RMB -115.5 million compared with RMB -423.9 million in Q4 2021. For the full year 2022, revenue for BEST Freight was RMB 4.9 billion compared with the RMB 8.2 billion in previous year. Excluding UC argo, freight revenue decreased by 10.7% year-over-year. Gross margin for 2022 was -4.6% compared with -3.2% of 2021. Adjusted EBITDA for BEST Freight was RMB -416.7 million, compared with RMB -610.8 million in 2021. Revenue for BEST Supply Chain Management increased by 2.7% year-over-year to RMB 500.6 million, and its gross margin was greatly improved to 4.4% from -1.9% in the same period of 2021. Adjusted EBITDA for BEST Supply Chain Management was RMB -5.2 million, compared with RMB -62.9 million in the same period of previous year. For the full 2022, revenue for BEST Supply Chain Management was RMB 1.8 billion, or 0.4% year-over-year increase. Gross margin improved by 2.1 percentage point to 6.1% from 4% in 2021. Adjusted EBITDA for Supply Chain Management was RMB 9.6 million, compared with negative RMB 56.3 million in 2021. For BEST Global, Q4 revenue decreased by 40.8% year-over-year to 195.7 million RMB, primarily due to the decreased volume. Its gross margin for the quarter was negative 34.9%, a decrease of 30.1 percentage points year-over-year. Q4 Adjusted EBITDA for BEST Global was RMB - 122.8 million, compared with RMB -78.8 million in Q4 2021. For the full year, revenue for BEST Global was RMB 916.9 million, compared with RMB 1.2 billion in 2021. Gross margin for the year was negative 18%, compared with negative 5.4% in previous year. The decrease in gross margin was primarily due to lower parcel volume. Adjusted EBITDA for BEST Global was RMB -386.4 million, compared with RMB -239.8 million in 2021. Our operating expenses excluding share-based compensation in the fourth quarter totaled RMB 277.1 million, representing 14% of our total revenue. This compared with RMB 381.4 million, also 14% of the revenue in the same period of 2021. For the full year of 2022, our operating expenses excluding share-based compensation were approximately RMB 1.2 billion, which was flat compared with previous year. For more of our fourth quarter and full year 2022 financial results, please refer to our earnings press release for further details. In closing, our Q4 results were encouraging. Our efforts in cost reduction, service quality improvement, and the business structure optimization are proving effective. Moving forward, in 2023, we believe that our strength in technology, domestic and global Supply Chain Management and the logistics capabilities will enable us to capture new business opportunities and deliver a strong profitable growth in 2023 and beyond. This concludes our financial update. I will now open the call to questions. Thank you. Operator? Thank you. We will now begin the question and answer session. To ask a question, you may press star then one on your touch-tone phone. If you're using a speakerphone, please pick up your handset before pressing the keys. If at any time your question has been addressed and you would like to withdraw your question, please press star then two. At this time, we will pause momentarily to assemble our roster. Our first question comes from Thomas Chong with Jefferies. Please go ahead. Hi. Thank you management for taking my question. I have two questions. First, would you please provide some color about the Q1 performance of Freight, Supply Chain and Global business units since China reopening, and how should we expect the 2023 outlook? Second, you mentioned that BEST Global would achieve profitability in certain countries in 2023. Which countries should we expect to be? Okay. The first question regarding to Freight and Supply Chain on the Q1, I assume you're talking about this year. Yeah, Q1 is we're seeing a fast recovery from a general economy as well as our business lines. As the, you know, number we are seeing right now, the Q1, the Supply Chain Management is probably positive. As again the January, the Chinese New Year impact, Freight should be doing really well on February and March as well and for the number we have seen daily. The performance for February, for the Supply Chain Management and the Freight is ahead of our plan. That's definitely. The second is you were talking about BEST Global and we are seeing some very promising trends in term of our turnaround in certain countries, particularly in strong in Vietnam, in Malaysia. Certain countries, we've seen a very promising business growth as well as turnaround in our operating every operating metrics. That would be my question to you. You were answering to it? Oh, no. Okay. Okay. Thank you. As a reminder, if you have a question, please press star then one to be joined into the queue. This concludes our question and answer session. I would now like to turn the conference back over to Johnny Chou for any closing remarks. Thank you for joining our call. We appreciate your support of BEST. Please reach out to our investor relations team if you have any further questions. We look forward to speaking with you soon. Thank you very much. Operator? The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.