各位 (gè wèi) is a respectful, slightly formal way of addressing a group meaning everyone, ladies and gentlemen, or all of you. 各 means each and 位 is the polite measure word for people. It is used in speeches, announcements, and formal settings, similar to how English speakers open with ladies and gentlemen or dear all. In casual contexts 大家 (dà jiā, everyone) is preferred.