JD.com, Inc.

Hello and thank you for standing by for JD.com's first quarter 2021 earnings conference call. At this time, all participants are in listen-only mode. After management's preferred remarks, there will be a question and answer session. Today's conference is being recorded. If you have any objections, you may disconnect at this time. I would now like to turn the meeting over to your host for today's conference, Weiyu Li.

Thank you, operator, and welcome to our first quarter 2021 earnings conference call. Joining me on the call today are Mr. Lei Xu, CEO of JD Retail, and Sandy Xu, our CFO. For today's agenda, our CEO of JD Retail, Mr. Xu, will share his thoughts on the Q1 performance, followed by our CFO, Sandy, who will discuss the financial highlights for the first quarter 2021. Both Lei and Sandy will join the Q8 session. Before we continue, I refer you to our safe harbor statement in the earnings price release, which applies to this call, as we will make forward-looking statements. Also, this call includes discussions of certain non-GAAP financial measures. Please refer to our earnings release, which contains a reconciliation of non-GAAP measures to the most directly comparable GAAP measures. Finally, please note, unless otherwise stated, All fingers mentioned during this conference call are in R&B. Now, I would like to turn the call over to our CEO of JD Retail, Mr. Lei.

Thank you, Ray Yu. Hello, everyone. This is Lei Xu, CEO of JD Retail. Thank you for joining us on this quarter's earning call today. This year marks the 18th anniversary of the founding of Jingdong Group. The 18th anniversary is the core milestone of the deep integration of China's actual economy and digital economy. We have been facing many challenges and opportunities. Jingdong has created a unique business model. Its core concept is the ultimate user experience, cost optimization, and efficiency improvement. This is also our core competitive advantage. Jingdong persists on the positive commercial values and unique business models, allowing us to gain more and more user and partner trust. This year marks the 18th anniversary of the establishment of JD.com.