Yunji Inc.

Good morning and good evening, ladies and gentlemen. Thank you and welcome to UNG's first quarter 2021 earnings conference call. With us today are Mr. Shang-Lu Hsiao, Chairman and Chief Executive Officer, Cheng-Ki Zhang, Vice President of Finance, and Ms. K. Lu, Investor Relations Director of the company. Now I would like to hand the conference over to first speaker today, Ms. K. Lu, IRD of UNG. Please go ahead, ma'am.

Hello, everyone. Welcome to our first quarter 2021 earnings call. Before we start, please note that this call will contain forward-looking statements within the meaning of the Private Security Licensing Reform Act of 1995 that are based on our current expectations and current market operating conditions and relate to events that involve known or unknown risks, uncertainties, and other factors affecting its industry. These forward-looking statements can be identified by terminology such as will, expect, anticipate, continue, or other similar expressions. For detailed discussion of these risks and uncertainties, please refer to our latest document filed with USCCC. Any forward-looking statement that we make on this call are based on assumptions as of today and are expressly qualified entirely by cautionary statement, risk factors, and details of the company filing with the SEC. Yunxi does not undertake any obligation to update this statement except as required on the applicable role. With that, I will now turn over to Shangyue Zhao, Chairman and CEO of Yunxi.

Hello, everyone, and welcome to Yunji's first quarter 2021 earnings call. The competition in the e-commerce industry to this day has formed a large-scale advantage in terms of customer value in terms of how much, how fast, how good, and how little. Yunji, as the first brand of member e-commerce, we want to continue the decentralized strategy of supply chain, to meet the needs of customers' simple shopping. We have upgraded Jingxuan as the main strategy of Yunji. We do not pursue the short-term distribution of sales, but are more focused on the construction of products with high-end value, to choose the best for our members, and to have products with higher member value.