Ladies and gentlemen, thank you for standing by for GDS Holdings Limited's first quarter 2024 earnings conference call. At this time, all participants are in listen-only mode. After management's prepared remarks, there will be a question and answer session. Today's conference call is being recorded. I will now turn the call over to your host, Miss Laura Chen, Head of Investor Relations for the company. Please go ahead, Laura. Thank you, operator. Hello, everyone. Welcome to the first quarter 2024 earnings c ...