Hello, and welcome to the Deutsche Bank American Depositary Receipts Virtual Investor Conference, DBVIC. I'm pleased to announce that our next presentation will be from Yiren Digital Ltd. from China. Before I introduce our speaker, a few points to note. Please submit your questions in the questions box below the slide. Once the Q&A session has ended, you'll automatically transfer to the Yiren Digital Ltd. booth, where you can continue to ask questions via the chat and access shareholder materials. On a final note, all of today's presentation is recorded and can be accessed by the Deutsche Bank website, adr.db.com. At this point, I'm very pleased to welcome Ms. Keyao He of Yiren Digital Ltd., which trades on the NYSE under the symbol YRD. Over to you. Thank you. Hello, investors. Thank you for joining our session. We will now give you a brief introduction about our business and growth strategy first, and then we'll start Q&A session. Our IR Director, Keyao He, is also online for the Q&A session. First, we'll give you an overview of Yiren Digital. We are Yiren Digital, and we are positioned as a leading digital personal financial management platform. By this three words, we mean that we are offering products and services that meet our customers' comprehensive financial management needs, which include their need for credit, their need for investment and also their need for finance. In other words, we work as a consumer's personal financial manager, helping them to manage their personal balance sheet. For example, to improve their liquidity through our credit tech services, to help them generate income, more income through our investment services, and also to help them get better secured and protected through our insurance product and services. By the nature of our services and products, our businesses can be divided into two big parts, the wealth management businesses, including the insurance and also the credit business. Here is a quick glance at our Q2 performance, just to give you a grip of our business scale. You can see that from the wealth management side of the business, our total client asset reached CNY 14.7 billion at the end of the Q2. In the Q2, we have more than 380,000 active investors and cumulatively we serve more than 2.5 million investors. From the credit side of the business, our loan balance as of the end of the Q2 is RMB 12.5 billion, and we have served more than 443,000 investors in the Q2. Cumulatively, we have served 5.6 million investors at the end of the Q2. Let's take a closer look at our business model. Here is a map of our wealth management business. You can see that by the amount of investable assets, we can divide wealth management market into four customer segments, the mass affluent, high-net-worth, and ultra-high-net-worth. We are targeting the mass affluent segment with the investable assets ranging from RMB 1 million-RMB 10 million, and we are serving them with asset allocation-based wealth management services. You can see that on the right-hand side, there were two different business lines that form our entire wealth management business. One is Yiren Wealth. Yiren Wealth is an online wealth management platform. The other is Hexiang Insurance. Hexiang Insurance is a national insurance broker. Next. What is worth mentioning is also that our parent company CreditEase, it has decades of experience serving high-net-worth and ultra-high-net-worth. The whole CreditEase wealth management ecosystem brings us strong synergies. In terms of, we're enjoying those synergies in terms of our serving capability, product offerings, and also customer acquisition. For customer with higher investment needs, we also upsell our products. We also upsell our products to from CreditEase. This slide shows how Yiren Wealth platform works. As I said, that Yiren Wealth is one stop at the allocation-based wealth management service platform. We have diverse online acquisition channels, like, working with different channel partners, like, telemarketing like MGM. What is also worth mentioning is that through years of operation, we have accumulated large numbers of investors. Like I said, over 2.5 investors served on our Yiren Wealth platform. Some of them are still our investors. Meanwhile, we are also reactivating our legacy customers, which is quite a considerable investor base. This will also compose a big chunk of our current customer base. Then we are serving them after acquisition, and then we will serving them through our both AI robot and real person remote consulting services. We are a tech-driven platform through our strong tech capabilities. We do intelligent advisory and based on our investors, financial background and financial targets, we will match them with proper short-term or long-term asset allocation plans and products. During this process, we are serving them with investor education lessons and also cross-selling and upselling different products. By products, we are offering different asset classes. We are offering our investors with funds, fund portfolios, insurance, and short-term wealth management products, et cetera. Next slide. Onto our insurance business. We have a national insurance broker called Hexiang. We are doing both to B and to C businesses, and we are offering both life insurance and property insurance. For 2C business, Hexiang Insurance and Yiren Wealth have close interaction and have generated strong synergy within our wealth management ecosystem. For Yiren Wealth, Hexiang has enriched their product offering. For Hexiang can also tailor-made insurance products suitable for the investors on Yiren Wealth. In the meantime, for Hexiang, Yiren Wealth could function as an effective acquisition channel to help them better acquire customers. Currently, Hexiang Insurance has more than 430 products from 180 insurance companies. For our 2B business, there was one thing I was emphasizing. This is our unique 2B, 2C business model. For the B2B, B2C model, we mean that after serving our B2B corporate clients, we transfer our B2B clients into channel partners, work with them to design tailor-made insurance products for their own customers. Then our insurance products will be embedded into those channels and platforms and serve those B2C customers. This is a win-win situation. By doing this, we help B2B clients realize additional revenue stream if we're sharing profits with them when their B2C customers buy our products. For us, we acquire large numbers of B2C customers during this process of service. All the B2C customers we serve will be put into our customer pool, and we will explore their further insurance needs and convert them into different products. During this process, some of our customers are converted into a new to B corporate client as well. They, some of them are business owners themselves, or some of them are management from a big company. We start to sell them in a to B, to C model again. We can serve and acquire more to C customers. It's like a circle is formed. What differentiates us from our peers in terms of insurance is that it's our strong capability in product customization and digitalization and our strong servicing capability. In terms of the scenarios that we focus on in such a B to C model, include medical and healthcare, travel and leisure, wealth and finance, agriculture, and fisheries. By offering both to B and By offering both property and life insurance and also doing both B2B and B2C businesses, we are actually establishing a strong insurance ecosystem. Before I start with this page, I would just emphasize that Hexiang, our insurance business, is showing strong momentum in the recent quarter. In the second quarter, Hexiang Insurance contributed more than CNY 570 million in premium, which translates into 130% growth quarter-over-quarter and over 5x growth year-over-year. We'll start with our non-financial services. This is a new initiative that we start to deploy in the second half of this year. What we found is interesting is that the mass affluent investor we served in our platform have common needs in four particular scenarios. That is, health and bodybuilding, study and self-improvement, life, high quality lifestyle, and also, child education and parenting, since more than 60% of our investors on the platform are female. Based on those three, four key scenarios, we select and sometimes tailor-make products and services, non-financial products and services, and to use them as a acquisition tool to target to our potential investors. Once the customers purchase our non-financial services and products, they will become part of our Yiren Wealth community, and they will be put into our customer pool. We can explore their third financial needs to convert them into wealth management investors. By doing this, on the one hand, we are gaining more non-financial revenue. On the other hand, we are converting more customers into our new investors, which means more wealth management services fee. The two business lines that I just mentioned from our entire wealth management business and now onto our credit sector business. We are doing credit sector business under a loan facilitation model, which means that we are 100% funded by institutional partners. We work with institutional partners to serve our borrowers. As shown on this slide, we connect borrowers with institutional partners, and we serve our borrowers with credit application services and post-facilitation services. We cooperate with institutional funding partners and provide them with customer referral and co-collection services. In terms of a product, we have three main products in our credit side of the business. First is our small revolving loan, and this is an online unsecured loan. The average ticket size is around RMB 4,000-RMB 6,000, and the average tenure is around 11 months. In this segment, in this business, we cooperate with different traffic platforms like 58.com, like Xiaomi Wallet, and to embed our scenario-based product into their particular consumption scenario. To better serve the customers. In the meantime, we're also developing our own consumption platform. In this way, we are establishing our own traffic pool to better serve our customers and to better do customer acquisition. The small revolving business is showing very strong momentum since we only started to focus on small revolving loans at the beginning of last year. In the second quarter of this year, the small revolving loans have contributed more than 50% of our loan volume. Next is our auto loan, and this is our offline business. The average ticket size is around CNY 50,000-CNY 70,000, and the average tenure is around 27 months. By auto we acquire our customers offline and also some of our customers come from customer referral. It basically all customers will use their auto as collateral to apply loans with. The auto secured loan accounted for around 40% of our total loan volume in the second quarter. Our small SME loans. We started to focus on SME loans to scale up SME loan in October to September this year. This is the online business, unsecured loan to small business owners. The average ticket size is around CNY 200,000, and the average tenure is around 12 months. The SME loan is showing it is growing very fast as well. We expect the SME loan will account for more than 10% of our total loan volume in the fourth quarter this year. To sum up our growth strategy, we will continue our efforts to integrate different business lines to meet our customers' comprehensive needs for financial management services. We'll just continue to position ourselves as a personal financial management platform. What is worth mentioning is that our different business lines are not isolated. It's all integrated and they're connected. Our strategy is to focus on the actual needs of our customers with user-centric. To serve our customers' comprehensive needs fully. We will not treat our customers like a borrower or investor. Rather, we will serve them in the long run. One example that is worth mentioning is that from last year, we start to offer insurance products in our credit business line, and it tends to be very effective. In the second quarter, insurance premium coming from credit side of the business line grew by 58%, quarter-over-quarter. That's quite a good example to explain what it means to be a comprehensive personal financial management platform. A very quick briefing of our key financial updates. In the second quarter, our client asset investor reached more than eight... If we exclude our insurance products and legacy products, our client asset investors reached more than 542,000. The number of active investors also visible growth. Loan volume for the second quarter is RMB 5.3 billion. We have generated more than RMB 1.1 billion of revenue and RMB 200 million net income. That's an introduction of our current business. If you have any questions, please feel free to ask. We got some questions, they are asking about our customer acquisition strategy. Yeah. I'll start with that. For our wealth management, our acquisition strategy consists of three main channels. First is online from Yiren Wealth. Second is especially from the embedded financial services that I just mentioned earlier in the presentation. Also, in the second channel of acquisition coming from our insurance products, mainly B2B2C and the B2B2C model. We find this is a very effective way to acquire new customers, not only B2B, but also B2C. Certainly as coming from our ecosystem, from our CreditEase ecosystem. Under CreditEase ecosystem, we are enjoying synergies in terms of customer acquisition as well. That's all wealth management. For credit, we are acquiring customers from both online channels and offline channels. From offline channels, we're mainly cooperating with traffic platforms and also building up our own traffic platform by setting up a consumption platform, a shopping mall of our own. Secondly, for the offline acquisition, we have our agents and we also cooperate with different channels to acquire our offline customers. Certainly, for SME loans, we also cooperate with some platforms like Kingdee, like Yonyou, and also some of the e-commerce platform. We found this a very effective way to acquire customers as well. Hope that answered your question. The expectation for growth. Another question. Our expectation for the growth of our wealth management business in 2022. In the Q2 of 2021, our wealth management business account for 25% of our total revenue. We expect this percentage to continue to grow in the year of 2022. I hope that answers your question. About 30% in the year of 2022. Next question is what are your key milestones for the next 12 months? First, for the wealth management business, we will continue to scale up via total AUM and also to scale up our insurance business. We are expecting to drive up via a higher proportion, a higher contribution of our wealth management to our total revenue. We expect concrete growth, especially we expect a concrete growth in our insurance product. That's for wealth management. For credit, we are driving up SME loan, which will take like more than 10% at year-end, and more than 50% in the first quarter of next year. SME loan will be our next focus. For more revolving loans, we are building up our orange shopping. We are building up our orange traffic flow. This will be proven effective from the fourth quarter or from the coming quarters. One thing is also worth mentioning is that we started to deploy in our financial services, like I said, in the presentation. This will bring in increasing numbers of investors at a lower customer acquisition cost in the future, in the coming months. We will see that result coming in very soon in the quarters to come. Any other questions? Cynthia, do you have anything to add? No, not at the moment. We need to wrap up. Okay, thank you everyone for joining us. If you have any questions, feel free to reach out to our IR team and then we can get back to you if any investors have any more questions. Thank you for joining us today. Thank you everyone.