Millicent T.
Head of IR

Good evening, good morning, and welcome to Tencent Music Entertainment Group's First Quarter 2026 Earnings Conference Call. I'm Millicent, Head of IR. We announced our quarterly financial results earlier today before the U.S. market opened. The earnings release is now available on our IR website and via Newswire services.

During today's call, you'll hear from Mr. Cussion Pang, our Executive Chairman; and Mr. Ross Liang, our CEO, who will share an overview of our company strategies and business updates. Then Ms. Shirley Hu, our CFO, will discuss our financial results before we open the call for questions.

Before we continue, I refer you to the safe harbor statement in our earnings release, which applies to today's call as we make forward-looking statements. Please note that we discuss non-IFRS measures today, which all more thoroughly explain and reconciled to the most comparable measures reported under IFRS in our earnings release and filings with the SEC. All participants are mute at this time. After management's remarks, there will be a Q&A session, and please realize that today's call is be recorded.

With that, I will now turn the floor over to Cussion, Executive Chairman of TME. Cussion, please.

Kar Shun Pang
Executive Chairman

Thank you, Millicent. Hello, everyone, and thank you for joining our call today. Despite an increasingly competitive landscape, in the music streaming industry, we delivered a steady performance