Operator
Hello, and welcome to the X Financial Fourth Quarter 2025 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Victoria Yu. Please go ahead.
Victoria Yu
Thank you, operator. Hello, everyone, and thank you for joining today’s call. Our financial results for the fourth quarter and fiscal year ended December 31, 2025, were released earlier today and are available on the company’s Investor Relations website at ir.xiaoyinggroup.com.
On the call today from X Financial are Mr. Kan Li, President; Mr. Frank Fuya Zheng, Chief Financial Officer; and Mr. Noah Kauffman, Chief Financial Strategy Officer. Mr. Li will begin with an overview of our business performance and key operational developments. Mr. Kauffman will then discuss the regulatory environment and the fourth quarter financial performance, followed by Mr. Zheng, who will review the full financial results, capital position and outlook. After the prepared remarks, Mr. Li, Mr. Zheng and Mr. Kauffman will be available to answer your questions during the Q&A session. I remind you that this call may contain forward-looking statements under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Such statements are based on management’s current expectations and involve known or unknown risks, uncertainties and other factors. These factors are difficult to predict, and many are beyond the company’s control, which may cause actual results, performance or achievements to differ materially from those described in these statements. Further information on these and other risks can be found in our SEC filings.
The company undertakes no obligation to update any forward-looking