Operator

Thank you for standing by, and welcome to Origin Agritech First Half Fiscal Year 2026 Results Conference Call. Please note that today's call is being recorded. It is now my pleasure to introduce Matthew Abenante of Strategic Investor Relations. Please go ahead.

Matthew Abenante

Thank you, operator, and thanks to all of you for joining us today on the Origin Agritech conference call. Joining us on the call today are Mr. Weibin Yan, Chief Executive Officer; Dr. Zheng James Chen, Chief Financial Officer; and Ms. Kate Lang, Director of Investor Relations. Before we begin, I would like to remind our listeners that any statements on this call that are not historical facts are forward-looking statements. Today's call includes forward-looking statements that address expected future business and financial performance and financial conditions and contain words such as expect, anticipate, intend, plan, believe, seek, will, would, target and similar expressions and variations.

Forward-looking statements address matters that are uncertain and they are not guarantees of future performance, and are based on assumptions and expectations which may not be realized. They are based on management's current expectations, assumptions, estimates and projections about the company and the industry in which the company operates, but involve a number of risks and uncertainties, many of which are beyond the company's control.

Some of the important factors that could cause the company's actual results to differ materially from those discussed in forward-looking statements are failure to develop and market new products and optimally manage product life cycles; ability to respond to market acceptance, rules, regulations and policies