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| This impressive performance clearly reflects Atour Planet's continuously strengthening brand awareness and robust growth potential |
| We are delighted to report another robust quarter |
| Our unremitting pursuit of growing to 2,000 premier hotels nationwide by 2025, while establishing the Chinese experience as the industry benchmark, along with the continuous expansion of our brand influence, enabled us to capture the growth opportunities arising from both business travel and the peak leisure travel season |
| As such, we achieved tremendous breakthroughs across each of our business lines |
| Travel and accommodation demand maintained solid growth momentum in the third quarter, highlighted by a notable uptick during the summer season |
| Additionally, the support for new hotels ramp up will continue, aiming for a sustained and healthy growth in RevPAR |
| Moreover, our ADR and OCC maintained their robust growth momentum during the Mid-Autumn Festival and the National Day Holiday period, increasing by 14.6% and 7.2%, respectively, compared with the same period in 2019 |
| As of the end of September, Atour Light 3.0 has accumulated 71 fine projects, consistently gaining recognition from our franchisees |
| [Foreign Language] Meanwhile, our mature hotels in operation for more than 18 months sustained their excellent performance |
| Their same-hotel RevPAR recovery rate reached 118% of 2019's level in the third quarter, in line with the overall performance of our hotel business, highlighting the markets recognition of Atour's brand as well as outstanding efficiency across our business management and operations |
| [Foreign Language] Like we have previously introduced, our retail product capabilities are continually improving, ranging from the popular deep sleep pillow that gained widespread recognition to the deep sleep temperature control quote which achieved a monthly GMV exceeding tens of millions in September |
| Meanwhile, propelled by our mounting competitiveness across products and brand, our third quarter's new signings grew rapidly and our pipeline continued to flourish |
| Ronald Leung [Foreign Language] The performance of the retail business in the third quarter continues to exceed expectations |
| We expect that Atour 4.0 will continue to enhance our competitiveness in the upper mid-scale hotel market and also lead our long-term growth |
| As a new hotel offering in the midscale market, Atour 3.0 has won broad market recognition for its stylish design as well as Atour's premier experience, resulting in a strong initial showing |
| In fact, these hotels have performed exceptionally well across key operating metrics, since their openings |
| I feel that there is really a big improvement in overall style and quality compared with previous versions |
| We believe Atour Light 3.0 is well-positioned to meet young business travelers' demands for high-quality accommodation experiences while capturing the opportunities arising from property upgrades in core business districts |
| As we have achieved many breakthroughs in our retail business, the retail business revenue has continuously exceeded our expectations |
| First congratulations on very solid results for the third quarter including the hotel business and also the retail business |
| We also outfitted our gym with equipment from Precor, one of the world's top exercise facility brand to provide our customers a safer and more effective exercise experience in our well-appointed fitness facilities |
| Notably, we have maintained a healthy cash position with stable growth momentum |
| The improved Group's overall net margin was primarily driven by the increase in gross profit margin in both our hotel and scenario-based retail businesses, along with our improved operating leverage |
| These increases were attributable to our ongoing efforts to address evolving customer needs as well as our efficient product development mechanism, which enabled us to consistently launch sleep products that which are well-received by consumers |
| The strong increase in the third quarter was driven by the robust growth in both our hotel and scenario-based retail business |
| We are confident that Atour 4.0 will set a new industry benchmark for customer experience in the upper midscale market, propelling industry developments and further solidifying Atour's market-leading competitiveness |
| We believe the promotion of tea farms in Yaduo Village will not only help reclaim wasteland for agriculture, but can also contribute positively to Yunnan's ecological development and environmental conservation |
| From accommodation to our retail business, we have been proactively implementing our Chinese experience strategy to great effect, further solidifying our brand recognition and propelling our sustainable and quality growth |
| Our Atour Planet flagship stores have garnered five-star ratings in terms of customer experience on both Douyin and Tmall, significantly outperforming our industry peers |
| [Foreign Language] Beyond our products themselves, exceptional customer experience is the cornerstone of Atour as a leading lifestyle brand |
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