Ladies and gentlemen, thank you for standing by, and welcome to the NaaS Q2 and first half 2023 earnings conference call. At this time, all participants are in listen-only mode. I must advise you that this conference is being recorded. I would now like to turn the conference over to your speaker today, Ms. Cynthia Tan, Senior IR Director. Thank you. Please go ahead. Thank you, operator. Hello, everyone, and welcome to NaaS Q2 and first half 2023 earnings conference call. The company's results were issued earlier today and are posted online. Joining me on the call today are Ms. Cathy Wang Yang, our Chief Executive Officer, and Mr. Alex Wu, our President and Chief Financial Officer. For today's agenda, Ms. Wang will provide an overview of our recent performance and highlights, and Mr. Wu will discuss our operating and financial results. Before we continue, I refer you to our safe harbor statement in the earnings press release, which applies to this call as we will make forward-looking statements. Also, please note that this call includes discussion of certain non-IFRS financial measures. Please refer to our earnings release, which contains a reconciliation of non-IFRS measures to most comparable IFRS measures. Finally, please note that unless otherwise stated, all figures mentioned during this conference call are in RMB terms. I'll now turn the call over to our CEO, Ms. Cathy Wang Yang. Cathy, please go ahead. Okay. Hello, everyone. I'm NaaS CEO, Cathy Wang. It's my pleasure to share NaaS Q2 2023 earnings results with all of you and to discuss our recent development. In the Q2 of 2023, we continued to deliver solid operating and financial performance, with revenue more than doubled and a significant loss reduction. Thanks to our continued network expansion, growing client base of station owners across various stages of charging station construction, operation, and upgrades, as well as improving operating efficiency. Our strategic partnerships also continued to deepen and expand, with leading enterprises such as Hyundai Motor Group, PICC Real Estate Investment, and CR Capital Management attracted to our innovative solutions and one-stop services. We are excited about collaborating with these partners to further propel the development of EV charging industry. This year, new energy storage facilities experienced broad-based exponential growth. According to the NEA, newly commissioned installations in the first half of this year alone exceeded the past ten years' total installation to reach 8.63 GW, taking capacity in operation to 17.7 GWh. China's energy storage demand is also growing rapidly. It's expected to exceed 70 GWh by 2025, with the market size reaching over CNY 100 billion. In September 2023, we signed a CNY 204 million energy storage order in cooperation with several companies, providing over 380 charging stations with energy storage equipment and comprehensive solutions, boosting energy storage capability of over 130 MWh in total. This initiative shows our strength and innovation in station integrated energy storage technology, making a crucial step forward in our integrated photovoltaic storage charging contract. This order further boosted our confidence to deliver our full year revenue guidance. Furthermore, our total fundraising year to date to $91 million, significantly enhancing our financial strength and fueling our growth initiatives. Internationally, we are actively accelerating our global expansion into... We acquired a 89.99% stake in Sinopower, a leading rooftop solar energy developer in Hong Kong on 22 August. We also entered into a definitive agreement to acquire Charge Amps, a leading European provider of EV charging service solutions, capitalizing on their strong market presence and channel capability, as well as our extended product and service portfolio and financial strength. We will further strengthen the standing of Sinopower and Charge Amps in their respective regions, while promoting the global expansion of our products and service offerings. Looking ahead, we will leverage the supporting policies worldwide and increasing market demand, actively exploring the integrated development of charging stations, the new energy system, and smart IoT devices, while elevating both user experience and service quality, aiming for a 20% market share in the global new energy asset operation and management services market in the long term. Now I will turn the call over to Alex, our President and CFO, for a closer look at our operating and financial performance. Thank you. Thank you, Cathy. Hello, everyone, and thank you for joining our call today. In the Q2 of 2023, we delivered solid operating and financial performances. By offering diversified service offerings while leveraging the industry-leading scale of our charging network, we continued to solidify our leadership in the charging services industry. We have also made significant progress in our transformation journey towards becoming an integrated new energy services provider, highlighted by our achievements in energy storage, among others. In the Q2, we more than doubled our revenue year-over-year, while achieving a significant loss reduction. Specifically, our revenues grew 121% year-over-year, to reach CNY 48.6 million, driven by our ongoing network expansion and our growing station owner client base across the construction, operating, and upgrade stages for charging stations. Our gross margin reached 39%, representing a notable increase of 22 percentage points quarter-over-quarter. This improvement highlights our unwavering commitment to innovative business practices that drive favorable revenue mix changes. Additionally, we reduced our net loss by 94% year-over-year to CNY 334.7 million. Our net loss margin narrowed by 385% quarter-over-quarter, and our operating loss margin narrowed by 373% quarter-over-quarter, benefiting from greater economies of scale. Our network experienced significant growth during the quarter, with total charging volume increasing by 112% year-over-year, reaching 1,228 gigawatt-hours. This accounted for 21.7% of all charging volume completed through public chargers in China in the same period. Moreover, the gross transaction value conducted through our network rose to RMB 1.2 billion, reflecting a 109% year-over-year increase. Simultaneously, our total number of orders rose by 110% to 53.8 million, from 25.6 million in the Q2 of 2022. In the Q2, revenues from offline EV charging solutions increased by 153% year-over-year, accounting for a higher share of total revenues compared with the Q1. The robust growth of our revenues from offline EV charging solutions was mainly driven by the increasing number of clients attracted to our full suite one-stop EV charging solutions that cover end-to-end station construction, operation, and upgrades. On 28 August, we celebrated the commencement of operations of the first integrated energy port in Anhui Province, for which we were deeply involved in construction. Working closely with We nergy Group, we offer vehicle owners straightforward, efficient, and environmentally friendly one-stop energy services. In addition, we signed strategic collaboration agreements with Hyundai Motor Group China Limited, PICC Real Estate Investment, and China Resources Capital Management to further expand our partnership roster. With Hyundai, we are enhancing charging infrastructure and mobility connectivity tailored for their PEV models. With PICC, we're building a top-notch new energy charging service system, incorporating integrated infrastructure, co-branded stations, online connectivity, and comprehensive insurance services. With China Resources Capital Management, we are working on integrated energy port construction, innovative securitization of new energy assets, and everything from incubating and investing into operating digital and intelligent applications within the realm of new energy, together promoting green and low carbon energy development. In addition, we're excited to have received a CNY 204 million energy storage order to be executed in the upcoming few months, signifying a solid step forward in propelling the integrated PV storage charging station development, and further boosting our confidence in achieving our full year revenue target of CNY 500 to 600 million... We will outfit over 380 charging stations with 580 integrated cabinets and matching comprehensive energy storage management systems, complemented by intelligent site selection services and supervisory and debugging services. The benefits of energy storage are threefold. First, there has been a lack of effective means to take advantage of the peak-to-valley price spreads and ensure operations during power outages. With energy storage integration, charging stations can earn incremental revenues from on-off peak price differentials while maintaining uninterrupted operations. Second, to accommodate high power fast charging, the conventional approach involves costly grid upgrades to increase base load, which can be effectively replaced with much more cost-effective energy storage solutions. Third, energy storage can also ensure power grid safety. In cases of fast charging, charging power in a local grid could exceed 1 million watts, potentially causing multiple points in the grid to collapse. Energy storage provides an effective solution to address the challenges of managing peak loads. Moving to our capital market endeavors, I'd like to take a moment to highlight some accomplishments that have bolstered our financial strengths. Back in early- Ladies and gentlemen, this is the conference operator. We've temporarily lost connection with the speaker line. Please hold while, and the conference will begin momentarily. Please go ahead, Alex. Sorry, I just got disconnected. Yeah, sorry, I just got disconnected. Let me continue. Now, let's delve into our global expansion strategy. Our agreement to acquire Charge Amps in August marked an important milestone in our globalization endeavors. We are pleased to welcome the Charge Amps brand and team to our NaaS platform. As a pioneer in integrated EV charging solutions industry, specializing in home, work, and destination AC charging solutions, Sweden-based Charge Amps has a strong reputation throughout Europe. For over a decade, Charge Amps' broad portfolio of intelligent, sustainable, user-friendly and particularly pleasing product offerings has been satisfying customers, as proven by its 22% local market share with an established international footprint in 13 markets. Charge Amps' commitment to sustainability is manifested throughout its entire production chain and reflected by its participation in the UN Global Compact. There are significant synergies between NaaS and Charge Amps. First, Charge Amps can leverage NaaS' relationship network to expand its sales channels, while NaaS can utilize Charge Amps', existing channels to launch affordable AC, DC, and household storage products to enrich its product portfolio. In addition, we can reduce Charge Amps' costs of revenue and improve its margin through our advantages in the domestic supply chain and procurement, as well as resource consolidation. Furthermore, as Cathy mentioned, we acquired 89.99% of Sinopower HK in June, another critical component of our expanding global layout. Sinopower is Hong Kong's largest one-stop solar panel service provider, boasting a significant 35% market share in rooftop solar PV development in Hong Kong. Through the Sinopower acquisition, we entered the distributed solar power market in Hong Kong, which broadened our boundaries from charging services to upstream power plant services, opening a new chapter for energy asset management. We are working on integrating the technology, products, capital, and the markets of both parties. With Charge Amps and Sinopower as our home bases for the European and Southeast Asian markets, we will accelerate the global expansion of our services while integrating PV and energy storage products in charging solutions and other facilities to drive innovation and sustainability in the new energy industry. Moving to our Q2 financial results. Our total revenues reached CNY 48.6 million in the Q2, up 121% year-over-year. The rapid increase was mainly the result of the increased network order volumes and additional capabilities in our EPC business established and acquired through the first half of 2023. Our total operating costs were CNY 388.6 million in the Q2, decreasing by 82% year-over-year. This was primarily due to our significant business expansion. Our net loss attributed to ordinary shareholders was RMB 334.7 million for the Q2 of 2023, compared with a loss of RMB 5,302.2 million for the same period of 2022. Based on our current and the preliminary view of our business situation and market conditions, which are subject to change, we are reaffirming our guidance that full year 2023 revenues will be in the range of RMB 500 to 600 million, increasing by 5 to 6 x from 2022. To summarize, through expanding our one-stop charging services, advancing integrated energy systems, and strategic acquisitions, we are well on our way to becoming a leading global new energy asset operation and management service provider. As we move forward, we remain committed to providing sustainable new energy solutions, while continuously exploring new avenues for expansion and propelling the industry's ongoing evolution. This concludes our prepared remarks for today. Operator, we're now ready to take questions. Thank you. Thank you. If you wish to ask a question, please press star one on your telephone and wait for your name to be announced. If you wish to cancel your request, please press star two. If you're on a speakerphone, please pick up the handset to ask your question. 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. Your first question comes from Kelly Zou with Jefferies. Please go ahead. Hello, can you hear me? Hello. Yeah, yeah, firstly, congratulations about the Q2, the strong result. I have two questions. Firstly is, can you please discuss the progress of your Sinopower in the acquisition? How about the integration after the acquisition closed in June? And, share more color about the progress of this project. And secondly, the question is, can you please talk more about the strategic partnership you recently developed, and how did this fit in with your long-term strategic goals of your business? Got it. Thank you. So the two questions, one is about Sinopower integration, the other one is about the strategic partnership, right? So let me address them one by one. So for Sinopower, I'm personally very excited now we finished the acquisition of Sinopower Hong Kong in June. Since then, Sinopower has strategically leveraged NaaS's strengths to strengthen its presence in both EV and PV, and have made significant progress in both of those two areas. On the PV side, Sinopower completed a 2.6 million watts rooftop solar project in Hong Kong, which is expected to generate 31 million kWh annually. It has also secured contracts for nine more projects. Sinopower has over 50 projects under construction currently, totaling 10.2 million watts in capacity. On the EV side, Sinopower has qualified as a contractor for the Hong Kong government-sponsored EV Charging at Home subsidy scheme, or EHSS. Currently advancing over 40 EHSS projects, aiming to cover around 6,100 parking slots upon completion. In addition to that, Sinopower has also integrated into the NaaS ecosystem, expanding its business both in mainland China and in Southeast Asia. Sinopower are actively involved in the PV project in Anji County, which is currently under construction, and the industrial and commercial PV project in Vietnam. So I'm very excited about this acquisition. I think the integration is well on the way, and as I mentioned before, Sinopower now has a very, very healthy pipeline of projects that it will deliver over the coming months, and will generate healthy revenue and EBITDA for the whole group. So that's my answer for the first question. The second question regarding the partnership. We are very excited with these three new partnerships. There are three partnerships that we achieved in the quarter. The first one is with Hyundai, where we aim to enhance our charging infrastructure and the mobility services tailored for Hyundai's EV models. Partnership with PICC, which is one of the biggest insurance companies in China. We will work towards building a top-notch new energy charging service system, including integrated infrastructure and co-branded stations, and also insurance services. With China Resources Capital Management, which is an investment fund that's backed by China Resources, we will incubate and invest in to operate new energy infrastructure projects, and also looking at a potential to securitize new energy assets. We'll be able to leverage our industry expertise and China Resources' capital market capabilities. These partnerships, if you put them together, right, you can see that we're working with one major OEM, one insurance company, and one major commercial real estate developer and investor. These are the three pillars that we have all the time in mind as the important partners that we need to work with in the new energy ecosystem. But we will continue to build more partnerships in these spaces, and build a strong ecosystem that we can work in. Thank you. Thank you. Once again, if you wish to ask a question, please press star one on your telephone and wait for your name to be announced. Your next question comes from Will Liao with Tian. Please go ahead. Hi, this is Will. Congratulations for our great performance in Q2 and first half 2023. I have two questions. First, can you discuss more details on the acquisition of Charge Amps and your strategy in European market? My second question is about the energy storage. Can you share more color on your energy storage in the charging station business? These are my questions. Thank you very much. Thank you. Thanks for asking these questions. So the first question is to do with the Charge Amps acquisition. I know I will elaborate on our strategy on Charge Amps's acquisition. The second question is to do with energy storage, right? Okay. So, let me address your first question first. The acquisition of Charge Amps is a strategic step that we take in Europe. Europe is the world's second largest new energy market, new energy vehicle market. There's currently 8.1 million EV in 2023. The projection is by 2025, there will be 16 million EV in Europe, and by 2030, there will be 55 million EV in Europe. And then from a penetration perspective, the penetration rate in the EU countries, the European Union countries, has reached 53% in 2023, which forecast to 80% by 2030. As a comparison, as a comparison to that, the on the spot, China EV penetration rate is about 36% in 2023. The two countries that have highest EV penetration rate are both in North Europe, with Norway as the highest, is over 80%, and Sweden, just, closely following with, somewhere between 65% to 70%. So we are acquiring a brand that is in a, a very well-developed market and a fast-growing market. Charge Amps has a decade of experience in creating some of the best quality and best design products in the charging industry. It holds a very strong market position in Sweden and has established its presence in 13 countries. For the acquisition, our objective is to have access to this leading brand, and also have access to the sales channels and AC products. The sales channels in Europe is something that we feel particularly exciting to have access to, because those channels will enable us to launch new products too. So we currently have plans to launch products like DC charging products, like energy storage products and PV products through the same channels. We have created a strategic approach for our European market entry. We've also created a very clear integration plan for this acquisition. We have completed a 180-day plan for the integration to happen, and we will have a small team what we call the Chief Transformation Office to be present in Sweden to help Charge Amps to be integrated into the NaaS system. We're very excited that there are a lot of opportunities that we can potentially take from this acquisition. The first step we'll take is we'll establish our programs with Charge Amps's leading brand and sales channels, as I mentioned before. Second step is we'll integrate energy storage products and PV products, and aiming to offer a comprehensive, integrated solution in Europe. Our last step is we want to be facilitating the energy transactions at the household level, which means we'll be grouping households together and engaging in potential energy trading with the power grid. So these are the three steps, and we are now very happy that we finished our first step. We will continue our development and growth in Europe through organic growth and through acquisition to achieve our strategic goals. So that's my answer to your first question. The second question regarding energy storage in charging stations. Energy storage for charging stations is an interesting and attractive market. First of all, the market is very big. Today there are about 140,000 public charging stations in China. We are connected to about 55,000 of them. Of these, we've identified over 13,000 stations that are in cities where the peak and valley power prices can generate enough commercial benefit for the energy storage to be commercially feasible. If we can capture this, there is a lot of opportunities that we can take. We just announced that we're going to roll out 580 sets of energy storage solutions in 380 stations, with a total of 930 milliwatt- hour of energy storage capacity. That's an aggregate contract value of over CNY 200 million. With support of the government policies and a growing number of chargers and charging stations, we expect by 2024, 5,000 charging stations will be suitable for energy storage, up from 1,880 today. This would potentially translate to a CNY 2 to 3 billion worth of opportunity in CapEx that we can potentially take. I've just talked about the three models of why energy storage solutions are important in the charging context. We can further enhance these systems with our robust analytics and intelligent technology capabilities, and we aim to become one of the largest asset operators of energy storage network for charging stations. Thank you. Thank you. As there are no further questions, now, I'd like to turn the call back over to the company for closing remarks. Thank you all for joining us today. If you have any further questions, please always feel free to contact us. Good night. This concludes the conference call. You may now all disconnect your line. Thank you.