Before we begin, I'd like to remind you that this conference call contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 as amended, and as defined in the US Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as will, expects, anticipates, future, intends, plans, believes, estimates, targets, confident, and similar statements. Statements that are not historical facts, including statements about Burning Rock's beliefs and expectations, are forward-looking statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond Burning Rock's control. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in any such statements. Burning Rock contains not undertake any obligation to update any forward-looking statements as a result of new information, future events, or otherwise, except as required under applicable law. I would now like to hand the conference over to your speaker today, Mr. Han, the CEO. Please go ahead. Thank you, welcome to Burning Rock's 2022 annual conference call. I'm Yusheng Han, CEO and founder of Burning Rock. Today, we also have our CTO, Joe Zhang, and CFO, Leo Li. Let's turn to page three. In case there are some investors who are not familiar with Burning Rock, I hereby illustrate what we do. Our business started from tissue-based therapy selection in 2014, and then expand to multi directions of liquid biopsy, including liquid-based therapy selection, MRD, multi-cancer early detection. We have three business unit providing product and services to doctors, pharma and consumers. Let's turn to page four. In this page, we will have a review of 2022. For the general view of our company, we completed a profitability-driven organization optimization. The overall headcount have been optimized by 25%. In that case, we still deliver strong growth in non COVID quarters and achieve 11% year-on-year growth in 2022. We completed a listing on London Stock Exchange, offering an alternative listing venue in addition to Nasdaq. We believe that this is a significant corporate development as it provides a fallback solution to facilitate continued trading and listing of shares in case of delisting scenario of ADRs on Nasdaq. We also noted that the latest statement from the SEC in December that as of now, there is no risk of Chinese issuers getting delisted, which is good for us. For therapy selection, we achieved 13% volume growth despite COVID challenges driven by in-hospital channel. The Nine-Gene Panel was approved by NMPA, providing a better weapon for in-hospital model. This is our second approved NGS-based test by the NMPA, demonstrating our capability of working with NMPA to bring innovative diagnostic products to the market. For MRD, 2022 was a big year in terms of clinical data publication. We provided the initial readout on lung and colon cancer at AACR 2022, followed by additional publications on colon and pancreatic cancer at ASCO 2023. We also expected additional publication on lung this year for AACR. Commercially, we launched our brPROPHET, our personalized MRD product in March. The volume of patient that we're serving keep increasing very good speed. For Biopharma, the new contract value increased 43% to RMB 263 million in 2022, over 200% revenue growth on strong backlog execution. For MRD, OverC was granted FDA Breakthrough Device designation, and center study for six cancer test development was published on Annals of Oncology. It's a journal with impact factor of 51 and is another strong proof of our technology and product. The PROMISE study, which is exactly 2,035 subjects, nine cancer test development completed and read out. PREDICT and PRESCIENT study are 17,000 subjects; 22- cancer test development is ongoing. PREVENT study, which is a prospective study of six cancer test, was launched last year. Our CTO, Joe Zhang, will illustrate more about our early detection study. Now let's turn to page five. This page shows what Burning Rock aim to achieve in 2023. The number one goal is profit, profitability. The goal we set is to break even, excluding R&D during a quarter in 2023. The main reason is that in 2023 and 2024 is still a big year for MCED R&D development. The second goal is continued revenue growth. A healthy increase with profitability is what we want to achieve. Our initial outlook for 2023 revenue growth rate is at 10%. The third goal is to further our leading position in MCED as number one player in China and a top player globally. The main R&D spend, as I said, will focus on MCED this year. Let me break down the goals into four parts. For therapy selection, we'll continue to improve the sales product productivity by strengthening the in-hospital model. For MRD, launch and install personalized MRD in top hospitals. Due to the operation difficulties of a personalized MRD, it is very challenging to install this method in hospital. However, since more and more hospitals control the out sending of tissue samples and MRD baseline needs tissue samples, only an in-hospital model can bring the volume of MRD to the next level. Thanks to the efforts of our R&D and operation team, we will be able to launch the in-hospital model of brPROPHET in the near future. I believe it will be a strong engine for Burning Rock on OncoBU and start to impact in fourth quarter this year. For Biopharma, the goal is to continue as profitable growth. With the new platform of MRD and more international orders, we are optimistic to the growth of Biopharma business. For MCED, PREVENT study, which is a prospective study of over 10,000 subjects. We'll have an interim readout in second half year of 2023. We will continue the development study of 22- cancer tests in PREDICT and PREVENT. Also, we are building the regulatory pathways with FDA and NMPA, especially NMPA. The commercialization will go on as selected top hospitals. Let's turn to page six. I know that investors care about our financial status. Our CFO, Leo, will illustrate more later on. On this page, I just want to show that we are doing a great effort to reduce the burn rate. If there's no more big scale clinical trials of MCED, the burn rate will significantly decrease in the coming two years. If there is new trial started, especially under NMPA registration, I think that will be even better news. That's what I want to present today, and I will pass the presentation to Joe to talk about our technologies and trials of MCED and MRD. Joe, please. Thanks, Yusheng. I'm gonna introduce some updates regards the MCED and MRD. Let's turn to page eight. This is basically a update regards the Burning Rock's early detection technology development. After publication of the basic technology in proof of concept in Nature Biomedical Engineering last year, we actually recently make a good publication on Annals of Oncology regards to the THUNDER study, which is six cancer early detection trial we ran past several years. The other very highlight part is basically we got a regulatory breakthrough, which is FDA grant us the Breakthrough Device designation early this year. This is actually a very significant achievement for Burning Rock. Currently, we actually are working closely with FDA for the next step to seeking for regulatory approval in the future. Let's turn to page nine. Basically, this is a slide which we presented previously talking about the Burning Rock's early detection program product development roadmap. As you can see here, for the six cancer early detection product, which we oversee, and after the THUNDER study being published in Annals of Oncology last month. Currently, we are actually running a program called PREVENT study, which is a prospective and interventional in kind of youth population, and this is ongoing at this moment. The recruitment is a pretty significant number there, and we probably will update the readout later this year. For the first phase. Meanwhile, actually, we are actually developing up to 22- cancer MCED product. There's several trials, several clinical studies related to it. We already published in a poster format in ESMO last year, we call PROMISE study. At this moment, we actually in a very intensive preparation regards preparation stage in the predicting the precision study, which cover up to 17,000 individuals for this 22-cancer product in the future. Like I mentioned there, the slide 10, just the layout of the six cancer, the 22-cancer program, what step it is. I won't cover too much repeat this anymore. Let's just talk to turn to page 12. We're gonna talk about the Minimal Residual Disease update. MRD is actually one of the very important business, new business of Burning Rock in past several years. Slide 13 talk about the MRD test utility. There's two kind of utility. One is the prognostic utility, which has already been proven in a lot of clinical study in the trial. Another more importantly utility will be the actionable diagnosis and try to direct the therapy, as you can see shown in red. In United States, there are already some CMS coverage regards the MRD utility by some other product. That's why Burning Rock actually seeking for all those kind of utility utilizing our own technology we call Burning brPROPHET, which is summarized in slide 14. brPROPHET is our technology. It leverage on the whole exome sequencing to get up to 50 tracking sites. We designed a personalized panel trying to tracking these 50 sites for the follow-up, trying to get the prognosis as well as the therapy guidance utility in the future. This product already launched last year. We almost like in the anniversary the launching at this moment. Slide 15 talk about the current, some MRD-related publication we achieved. We are keeping working very hard trying to get a lot of cancer covers. This is basically a pan-cancer product we believe. We have already published our non-small cell lung cancer poster in AACR last year. In AACR happen next month, we'll provide update on this non-small cell lung cancer study, and the patient number will increase significantly. For colorectal cancer, we provide two different study. One study already been published last year in AACR 2022. There's another one, it's actually ongoing. It's a very brief update I'm gonna talk about later. Basically, it's ASCO GI. This year, early this year in San Francisco, we present the initial data, but this study is still ongoing and we are currently actively collecting the longitudinal monitoring data point, and hopefully we'll get more readouts in the future. In ASCO GI this year, we also have a pancreatic cancer small cohort to demonstrate not only non-small cell lung cancer as well as the colorectal cancer. We can do a lot of other cancer types, including the pancreatic cancer, which is a most lethal cancer and also been proved hard to find the MRD in some other study. Next slide, the slide 16 basically talking about the pancreatic cancer cohort. Actually, we, this is observational study, and we collect, and also, we collect 20 patient baseline, which is a pre-surgery, and as well as some follow, like, days, seven days after surgery and 30 days after surgery. You can see here for pre-surgery pancreatic cancer, we got 100% positive regards the ctDNA existence, which showing this very impressive sensitivity of this assay. We, as you can see here, since there's some the survival curve showing the very good hazard ratio as a 23.45, and showing the prognosis utility of this MRD assay. The slide 17 is another update regards the colorectal cancer, like I mentioned earlier. We are actually still working on this. In ASCO GI 2023, we already demonstrate 127 patients in the initial cohort. Right now, we almost collect like 220 patient data from the baseline till the continuous follow-up. We'll see, there's a lot of data showing here. If you have interest, you can read that in detail later. Basically, the technology demonstrated very high sensitivity along with very high specificity, which we believe, it will potentially generate a lot more utility other than prognosis. So, I'm gonna conclude my part here. Let me turn to our CFO, Leo, to talk about financial. Thank you. Thanks, Joe. I'd like to cover three topics. First, I'm gonna talk about the fourth quarter 2022 recap. I'll talk about the latest trend in the first quarter 2023, and I'll talk about 2023 initial outlook. Let's go to the fourth quarter recap, and we can go to page 20. We can see that we finished the fourth quarter stronger than we previously anticipated. Recall that back in November, we guided for 2022 full year revenue growth to be about 5%, which implies a 20-something year-over-year drop for the first quarter. We ended the quarter in a stronger performance, down only 3% year-over-year. Breaking this down a little bit further, clinical testing revenues dropped in the teens range year-over-year in the fourth quarter, slightly better than we anticipated back in November. Testing for pharma customers held up very well, maintaining the triple digit growth rates that we achieved throughout 2022. We like to take this opportunity to commend all our staff who worked tirelessly during the difficult COVID lockdown period. Our testing carried out pretty much unaffected despite the lockdown suffered by many areas in China, and in particular, the city of Guangzhou, where our lab is located. We believe the resilience demonstrated by our business, the strong mentality of our staff to overcome challenges will help us in our future growth years. We also like to recap our 2022 full year performance. Our 2022 full year revenues grew 11% year over year. We think this is likely on the high end of growth rates achieved in the precision oncology testing industry, by our own estimate. There were three pillars that drove that strength. Number one, our dominant market position in the in-hospital segment, which we have built over the years into China's number one position. The second driver is MRD, which is a new product that we launched in March. We believe this is a multi-year growth runway, and Joe talked about some of the initial readouts and the future investments we're going to make in the MRD area. The third is the pharma service segments, which benefited from our top performing product portfolio and our leading position in the companion diagnostics regulatory approval capabilities in China. We think these three pillars will continue to drive our growth in the future years. Moving down on our P&L, we grew our adjusted gross profits, which excludes non-cash depreciation and amortization by 12% in the 2022 full year, which again is likely towards the high end of industry performance by our own estimate. Moving down to the OpEx lines, as mentioned in our previous earnings calls, we continue to deliver OpEx reductions as we deliver on efficiency improvement initiatives. All three OpEx lines dropped in the fourth quarter as we focused on improved sales productivity, reduction in corporate overhead, and better focus on our R&D projects. If we look at the metric of gross profit minus SG&A, so take the adjusted gross profit line and subtract the sales and marketing and the G&A line, where you can see that we're showing on the slide here, we're getting closer and closer towards breakeven. We anticipate to hit breakeven at some quarter by this metric during 2023. The drivers behind this was laid out in our CEO's remarks. We are driving our commercial business units towards profitability while our R&D is going to be mostly on multi-cancer early detection, which will be more focused than the previous years. In summary, operating efficiency and breakeven excluding R&D expenses is going to be our number one priority for 2023. Next, I'd like to talk about our latest trends, and we present our latest volumes on page 19 of the slide deck. We can see that the fourth quarter dropped double digits compared to the third quarter, where the central lab segment dropped a bit further. Breaking out into the latest month, we can see that we hit a bad trough in December and January as COVID ramped through China, but we have returned to positive year-over-year growth in February. Regarding the first quarter, given the sharp drop of volumes in January, which brought the January and February two-month combined volumes to a decline of 28% year-over-year. We think it's prudent to keep expectations for the first quarter moderate. Next, I'd like to talk about our 2023 outlook. For 2023, we have two financial metrics to track. Number one is what we talked about is the adjusted gross profit minus SG&A. We like to hit breakeven on a metric some quarters during 2023. Second, we like to continue to deliver top line growth. Out of the two objectives, number one is of higher priority for us. Within that context, we are guiding initially for a 20% increase in revenues in 2023. We'll keep track of our latest progress and update you on our guidance in our next quarterly result. Lastly, to recap our cash position and future burn rate estimates, which we showed on page six, during our CEO's opening remarks. We are sitting close to RMB 1 billion of cash balance. We are sitting on three years of cash runway, assuming no capital raise, and our cash balance covers all the clinical programs that we have in place. We would not be in a rush to do any capital raise. That concludes our prepared remarks, and we'd like to open for questions, please. Thank you. If you wish to ask a question, you will need to press star one and one on your telephone and wait for your name to be announced. To withdraw your question, please press star one and one again. Please stand by while we compile the Q&A roster. We will take our first question, and the question comes from the line of Alexis Yan from Morgan Stanley. Please go ahead. Your line is open. Hi. Thank you for taking my question. I have two questions. Number one is that regarding the 2023 revenue growth target of 20%, can you help us maybe better understand how much of that would be from the existing therapy selection portfolio and how much would be from the MRD as well as the early detection product portfolio? It may also be helpful to get a sense of MRD contribution in 2022 as context. A second question is that, so for the new businesses, like MRD and early detection, what are some of the key commercial milestones, for example, hospital contracting that we could be, we can track for the next few years and also, in terms of sales and marketing or market education investment, how do we assess the ROI in terms of these commercial investments? Yes, thanks for your question, Alexis. I'm Yusheng. For your first question, we don't like have a very clear cut of which part will contribute how much to the percentage of our growth. I can give you a general view that since let's take the three parts, OncoBU, pharma and also early detection. OncoBU, I think that will be the still be the main driver. As you know that we have a big baseline of OncoBU, including therapy selection and MRD. For on within OncoBU, as I said that the in-hospital model of MRD will impact on the on fourth quarter as we completed some in-hospital installment of personalized MRD technology into that. Before that, I think the therapy selection will be the main driver, including tissue-based and also liquid-based. For pharma, I think that they will continue growth, especially with the revenue. I think the trend is good, but compared to the big baseline for for OncoBU, I think that OncoBU will be the main driver. For multi-cancer early detection and commercialization, I think that is still the number is still cannot be compared with the rest of two BUs. er your second question is that multi-cancer early detection, we have installed probably around 50, sorry, so 40 hospitals. Half of them are big hospitals, but as you expected, we need to do more marketing activities to educate the doctors in Class III A hospital for them to understand the product and know how to prescribe to the consumers. Yeah, I think that the growth rate of our multi-cancer early detection this year will be good. I cannot give you the exact number of how much we can achieve. One thing is sure that since we're controlling the burn rate, we're focusing our energies and high content cost and marketing activities on top three Class III hospitals. Does that answer your question? Yes. That's all my questions for now. Thank you. Thank you. Thank you. There are no further questions. This concludes today's conference call. Thank you for participating. You may now disconnect. Thank you.