GLONGHUI March 21 | China is pleased to announce the 2023 annual results. In 2023, the company will operate meticulously, help merchants do business well through products and services, and continuously improve their own business results. The company's net operating cash inflow in 2023 was approximately RMB 77 million, and adjusted profit before interest, taxes, depreciation and amortization was approximately RMB 35.52 million, achieving annual operating profit for the first time. In 2023, the GMV generated by merchants through favorable solutions was approximately RMB 102.5 billion, an increase of about 1% over the previous year. The GMV for the store SaaS business was approximately RMB 50.7 billion, an increase of about 19% over the previous year. In 2023, China Youzan's revenue was approximately RMB 1.45 billion, and merchant ARPU increased to 22,805 yuan, an increase of about 27% over the previous year. The gross profit amount was approximately RMB 1.0 billion, up about 4% year on year; gross margin increased to 69.2%, up about 5 percentage points year on year. Starting in 2024, Youzan will truly grow from providing “digital software” for small and medium-sized businesses to provide an “intelligent consumer operation system” for brand retailers. The product system will be comprehensively intelligently upgraded, and the intelligent system will be operated through best-practice data training to help brand retailers with tens of millions of old customer fans increase customer repurchases and profit growth.