iQIYI, Inc.

Ladies and gentlemen, thank you for standing by and welcome to the ITE fourth quarter and fiscal year 2020 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, press star 1 on your telephone. I must advise you that today's conference is being recorded. I would like to hand the conference over to your first speaker today, Investor Relations Director of ITE, Fan Liu. Thank you. Please go ahead.

Thank you, operator. Hello, everyone, and thank you for joining ITE's fourth quarter and fiscal year 2020 earnings conference call. The company's results were released earlier today and are available on the company's investor relations website at ir.ite.com. On the call today are Mr. Yu Gong, our founder, director, and CEO, Mr. Xiaodong Wang, our CFO, Mr. Xiaohui Wang, our chief content officer, and Mr. Xianghua Yang, senior vice president of our membership business. Mr. Gong will give a brief overview of the company's business operations and highlights, followed by Xiaodong, who will go through the financials and guidance. After their prepared remarks, Xiaohui and Xianghua will join Mr. Gong and Xiaodong in the Q&A session. Before we proceed, Please note that the discussion today will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Security Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations. Potential risks and uncertainties include but are not limited to those outlined in our public filings with the SEC. ITE doesn't undertake any obligation to update any forward-looking statement except as required on the applicable law. With that, I will now turn the call over to Mr. Boon. Please go ahead.

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