Good morning, and thank you for joining us. Today, we are here to discuss a significant force shaping the modern digital marketplace: TikTok advertising software. This presentation aims to provide an objective and accurate overview of this dynamic ecosystem, its core functionalities, its impact on businesses and creators, and the critical considerations for its future development. At its core, TikTok advertising software refers to a suite of tools and platforms, both those developed by TikTok’s parent company, ByteDance, and by third-party vendors, designed to facilitate and optimize advertising campaigns on the TikTok platform. This technology extends far beyond the basic interface of the TikTok Ads Manager. It encompasses a wide range of solutions, including sophisticated analytics dashboards, automated bidding algorithms, influencer marketing platforms, content creation tools, and comprehensive performance management systems. The primary objective of this software is to enable brands, from global enterprises to local small businesses, to effectively connect with TikTok's uniquely engaged and demographically diverse global audience. The functionality of this software can be broadly categorized into several key areas: First, Campaign Management and Automation. Advanced software solutions allow marketers to manage complex, multi-campaign strategies from a single dashboard. This includes automated budget allocation, cross-platform posting schedules, and AI-driven bid management. These systems are designed to maximize Return on Ad Spend (ROAS) by continuously adjusting campaign parameters in real-time based on performance data, reducing the need for constant manual intervention and leveraging machine learning to predict optimal outcomes. Second, Data Analytics and Audience Insights. The power of TikTok's platform is intrinsically linked to its sophisticated recommendation algorithm. Advertising software provides a critical window into this ecosystem. It offers granular analytics on campaign performance, tracking metrics far beyond simple views and clicks. Marketers can analyze audience retention rates, sound-on completion percentages, and detailed demographic and psychographic breakdowns of their engaged viewers. Furthermore, these tools often include audience discovery features, using TikTok’s first-party data to help brands identify and target new, lookalike audiences that share characteristics with their existing best customers. Third, Creative Suite and Content Optimization. Recognizing that creative content is the currency of TikTok, a significant segment of advertising software is dedicated to its creation and enhancement. This includes libraries of licensed music and sound effects, template-driven video editing tools optimized for the vertical format, and features for easily generating multiple ad variants for A/B testing. Some platforms integrate computer vision technology to analyze the visual and compositional elements of top-performing organic TikTok videos, providing data-backed recommendations on what content styles, color palettes, and on-screen text are most likely to resonate with a target audience. Fourth, Influencer Marketing Integration. The line between paid advertising and organic creator content is notably fluid on TikTok. Consequently, many advertising software platforms now incorporate or integrate with influencer marketing databases. These tools allow brands to search for creators based on niche, audience demographics, engagement rates, and brand safety history. They streamline the workflow from initial outreach and contract management to tracking campaign-specific performance metrics and calculating the direct ROI of influencer collaborations. The impact of this sophisticated software on the advertising industry is multifaceted. For businesses, it has dramatically lowered the barrier to entry for creating high-impact, native-style video ads. A local restaurant can now use these tools to produce a professional-looking, targeted ad campaign with a minimal budget and no specialized video production team. For larger enterprises, the software provides the scalability and data-driven rigor required to justify significant advertising investments, translating the seemingly chaotic creativity of TikTok into a measurable and manageable marketing channel. For creators and the broader TikTok ecosystem, this technology has been a double-edged sword. On one hand, it has fueled the creator economy by providing a structured pathway for brand collaborations and monetization. Influencer marketing software ensures creators are discoverable by relevant brands and can professionally manage their business partnerships. On the other hand, the proliferation of optimized, commercial content raises questions about the shifting nature of the platform's "authenticity," which has been a cornerstone of its appeal. The increasing precision of targeting can also create "filter bubbles," potentially limiting users' exposure to diverse content and perspectives. However, the evolution and operation of TikTok advertising software do not occur in a vacuum. They are subject to intense scrutiny and a complex web of regulatory and ethical considerations. Three areas are of particular importance: Data Privacy and Security: The very efficacy of this software relies on access to vast amounts of user data for targeting and analytics. In a global landscape shaped by regulations like the GDPR in Europe and evolving state-level laws in the U.S., the handling of this data is paramount. Ongoing debates concern how user data is collected, processed, and shared between TikTok, its advertising partners, and third-party software vendors. The industry is continuously adapting to ensure compliance while maintaining the personalized advertising experiences that users often expect. Transparency and Brand Safety: Advertisers require assurance that their ads will appear in suitable contexts and will be viewed by real people, not bots. Advertising software must incorporate robust brand safety controls, allowing marketers to exclude their ads from appearing alongside certain categories of content. Furthermore, there is an increasing demand for transparency in the advertising supply chain, ensuring that advertisers understand where their budgets are being allocated and can verify the authenticity and viewability of their ad impressions. Algorithmic Accountability and Potential Bias: The machine learning algorithms that power ad delivery and optimization are incredibly powerful, but they are not infallible. Concerns exist about the potential for these algorithms to inadvertently perpetuate societal biases, for instance, in demographic targeting that could lead to discriminatory outcomes in housing or employment ads. The industry faces the ongoing challenge of auditing and refining these systems to ensure they operate fairly and ethically. Looking ahead, the future of TikTok advertising software will be shaped by several key trends. We anticipate a deeper integration of Artificial Intelligence, moving beyond optimization to actually generating initial creative concepts and ad copies. The rise of augmented reality (AR) advertising, already nascent on the platform, will require new software tools for creating and measuring interactive AR experiences. Furthermore, as commerce becomes more deeply embedded within social platforms, advertising software will increasingly merge with e-commerce tools, enabling direct sales and tracking the full customer journey from ad view to purchase without ever leaving the TikTok app. In conclusion, TikTok advertising software represents a pivotal development in the digital age. It is a powerful engine that translates the vibrant, user-driven culture of a social platform into a quantifiable and scalable opportunity for businesses. Its capabilities in automation, analytics, and creative enhancement are reshaping marketing strategies globally. Yet, its continued success and societal acceptance are contingent upon a responsible and transparent approach to the significant challenges of data privacy, algorithmic ethics, and the preservation of authentic user experience. The industry's stakeholders—platforms, software developers, advertisers, and regulators—share a collective responsibility to navigate this evolving landscape with both innovation and integrity. Thank you. We will now open the floor for questions.