Operator
Good day, and welcome to the Noah Holdings Limited Fourth Quarter and Full Year 2025 Earnings Conference Call. [Operator Instructions]
Please note today’s event is being recorded. I would now like to turn the conference over to [ Dorian Chiu ]. Please go ahead.
Unknown Executive
Thank you, Rocco, and good morning, and welcome to Noah Holdings Fourth Quarter and Full Year 2025 Earnings Conference Call. Joining me on the call today are Ms. [ Nora Wang ] Co-Founder and Chair Lady; Mr. Zander Yin, the Co-Founder, Director and CEO; and Mr. Grant Pan, the CFO. Mr. Yin will begin with an overview of our recent business highlights and strategic developments, followed by Mr. Pan, who will review our financial and operational results. After management’s prepared remarks, we will open the call for questions.
Before we begin, please note that today’s discussion will contain forward-looking statements that are subject to risks and uncertainties, which may cause actual results to differ materially from those expressed in such statements.
Potential risks and uncertainties include but are not limited to those described in our public filings with the U.S. Securities and Exchange Commission and the Hong Kong Stock Exchange. Nora undertakes no obligation to update any forward-looking statements, except as required by law.
Without further ado, I would now turn the call over to Mr. Yin. Please go ahead. Thank you.
Zhe Yin
Co-Founder, CEO & Director
[Interpreted]
Good day to everyone, and thank you
