Operator

Good morning, and good evening to all, and welcome to the Sea Limited First Quarter 2026 Results Conference Call. [Operator Instructions] I would like to advise all participants that this call is being recorded. Thank you. I'd like to now turn and welcome the call over to Ms. Rebecca Lee to begin the conference. Please go ahead.

Rebecca Lee
CEO of Office

Hello, everyone, and welcome to Sea's 2026 First Quarter Earnings Conference Call. I am Rebecca from Sea's Investor Relations team. On this call, we may make forward-looking statements, which are inherently subject to risks and uncertainties and may not be realized in the future for various reasons as stated in our press release. Also, this call includes the discussion of certain non-GAAP financial measures such as adjusted EBITDA. We believe these measures can enhance our investors' understanding of the actual cash flows of our major businesses when used as a complement to our GAAP disclosures. For a discussion of the use of non-GAAP financial measures and reconciliation with the closest GAAP measures, please refer to the section on non-GAAP financial measures in our press release.

I have with me Sea's Chairman and Chief Executive Officer, Forrest Li; President, Chris Feng; and Chief Financial Officer, Tony Hou. Our management will share strategy and business updates, operating highlights and financial performance for the first quarter of 2026. This will