Hello, ladies and gentlemen. Thank you for standing by for Four Seasons Education's First Half of Fiscal Year 2026 earnings conference call. At this time, all participants are in a listen-only mode. After management's prepared remarks, there will be a question-and-answer session. Today's conference call is being recorded. I will now turn the call over to your host, Ms. Olivia Lee, Investor Relations Manager for the company. Please go ahead, Olivia. Hello, everyone, and welcome to the First Half of Fiscal Year 2026 earnings conference call of Four Seasons Education. The company's results were issued via Newsfile services earlier today and are posted online. You can download the earnings press release and sign up for the company's email distribution list by visiting the IR section of our website at ir.cgedu.com. On today's call, Ms. Xun Wang, the company's Vice President of Finance, will provide an overview of the company's operations and details on the company's financial results. We will then open the call for your questions. Before we continue, please note that today's discussion will contain forward-looking statements made under the Safe Harbor Provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's results may be materially different from the views expressed today. Further information regarding these and other risks and uncertainties is included in the company's prospectus as filed with the U.S. Securities and Exchange Commission. The company does not assume any obligation to undertake any forward-looking statements except as required under applicable law. Please also note that Four Seasons Education's earnings press release and this conference call include discussions of unaudited GAAP financial information as well as unaudited non-GAAP financial measures. Four Seasons Education's press release contains a reconciliation of the unaudited non-GAAP measures to the unaudited most directly comparable GAAP measures. I will now turn the call over to our Vice President of Finance, Ms. Wang. Please go ahead. Thank you, Olivia, and hello, everyone. Thank you for joining our call today. Since this is our first call in several reporting periods, I want to briefly review the company's evolution and strategy focus before I begin the discussions of this period's results. Following a significant transformation in 2022, Four Seasons Education now operates as an integrated provider of both tourism and education-related services in China, combining enrichment learning, study camps, and learning trips, plus full-scale travel agency offerings for all age groups. During the first six months of fiscal year 2026, we sustained solid growth momentum. Total revenue reached RMB 145 million, representing a 7.9% year-over-year increase, supported by a healthy product mix and continued efficiency gains. We also maintained our strong upward profitability trajectory, with gross profit margin rising from 22% in the first half of fiscal year 2025 to 26.7% in the first half of fiscal year 2026, and net income climbing to RMB 12.4 million, a 314% increase year-over-year. These achievements underscore the strength of our business model and discipline execution across our core business. Now, let me walk you through this period's achievements, starting with the enrichment learning business. For the six months ended August 31, 2025, we achieved significant revenue growth in this segment as we focused on delivering high-quality learning experiences for learners of all ages. By deepening our understanding of local needs and optimizing our operations, we are expanding our network of learning centers while ensuring our programs resonate with local learners. Through continuous refined management and improved operational efficiency, we have further boosted the profitability of our enrichment learning programs. This disciplined framework allows us to scale reasonably while upholding our unwavering commitment to educational excellence. Turning to our tourism business, we will adopt a strategy that balances stable scale with product optimization by tightening our product portfolio toward high margin. While adding offerings, we aim to build a more resilient and sustainable business model for this segment. Overall, our operational excellence, strong strategy execution, and diversified services and product portfolio have positioned us well for continual profitable growth. Looking ahead, we will continue to focus on operational improvement and pursue organic growth by providing customers with an ever-widening selection of premium innovative services. We believe our growing portfolio of high-margin services, combined with disciplined expansion into new compliant markets, will enhance our long-term competitiveness and generate lasting value for our learners, customers, partners, and shareholders. Now, I'd like to walk you through further details of our first half of fiscal year 2026 financial results. Revenue increased by 7.9% to RMB 145.3 million in the first half of fiscal year 2026 from RMB 134.7 million in the same period of last year, mainly driven by the growth in the company's enrichment learning business due to the business expansion effort. Cost of revenue was RMB 106.5 million in the first half of fiscal year 2026, compared with RMB 105 million in the same period of last year, mainly due to the increase in staff cost of the company's enrichment learning business. Gross profit was RMB 38.8 million in the first half of fiscal year 2026, compared with RMB 29.7 million in the same period of last year. The increase of gross profit is mainly driven by the growth in the company's enrichment learning business, which has a higher gross profit ratio. General and administrative expenses decreased by 10.7% to RMB 24.3 million in the first half of fiscal year 2026 from RMB 27.2 million in the same period of last year, mainly attributable to the decrease in share-based compensation expenses primarily caused by the repricing of share options in the prior year. Sales and marketing expenses decreased by 34.3% to RMB 5.3 million in the first half of fiscal year 2026 from RMB 8.1 million in the same period of last year, mainly due to the decrease in advertising activities. Operating income was RMB 9.2 million in the first half of fiscal year 2026, compared with an operating loss of RMB 5.7 million in the same period of last year. Non-GAAP operating income, which is calculated as the operating income or loss excluding share-based compensation expenses, was RMB 9.8 million in the first half of fiscal year 2026, compared with a non-GAAP operating loss of RMB 1.6 million in the same period of last year. Interest income net was RMB 3.1 million in the first half of fiscal year 2026, compared with RMB 7.5 million in the same period of last year, mainly due to interest. Expenses are no longer capitalized but expensed since the construction in progress of study camps in Wuyuan are completed in fiscal year 2025. Income expense was RMB 1.1 million in the first half of fiscal year 2026, compared with RMB 3.5 million in the same period of last year, primarily attributable to an increase in income which is not subject to taxation, resulting in a decrease in income tax compared with the same period of last year. Net income was RMB 12.4 million in the first half of fiscal year 2026, compared with RMB 3.0 million in the same period of last year. Non-GAAP net income, which is calculated as net income excluding share-based compensation expenses and unrealized holding gain or loss in investments, was RMB 13.7 million, compared with RMB 2.1 million in the same period of last year. Basic and diluted net income per ADS in the first half of fiscal year 2026 were RMB 4.53 and RMB 4.48, respectively, compared with both RMB 0.98 in the same period of last year. Non-GAAP basic and diluted net income per ADS in the first half of fiscal year 2026 were RMB 5.11 and RMB 5.05, respectively, compared with both RMB 0.54 in the same period of last year. As of August 31, 2025, the company has cash and cash equivalents, short-term investments, and short-term investment under fair value of RMB 213.1 million, compared with RMB 262.6 million as of February 28, 2025. As of August 31, 2025, the company has long-term investment under fair value of RMB 157.9 million, compared with RMB 103.2 million as of February 28, 2025. This concludes my portion of prepared remarks. We will now open the call to questions. Operator, please go ahead. Thank you. We will now begin the question and answer session. To ask a question, you may press star and one on your touch-tone phone. If you are 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. For the benefit of all participants on today's call, if you wish to ask your question to management in Chinese, please immediately repeat your question in English. At this time, we will pause momentarily to assemble our roster. Once again, to ask a question, please press star then one. As there are no questions at this time, I'd like to turn the call back over to the company for closing remarks. Gotcha, please feel free to contact Four Seasons Education Investor Relations through the contact information provided on our website or The Pearsons Group Investor Relations. This concludes this conference call. You may now disconnect your line. Thank you.