spk_0: Good morning
spk_2: and good evening everyone. Welcome to Congo Incorporated. First quarter 2021 earnings conference call at this time. All participants are in a listen only mode. This call is also being broadcast live on the company's IR website joining us today and Mr Jianlin, chief executive officer and Mr Yang Zhang, chief financial officer of the company. Following management's prepared remarks, we will conduct the Q and a session before we begin. I refer you to the safe harbor statement in the company's earnings release, which also applies to the conference call today as management will make forward looking statements. With that said, I'm now turning the call over to Mr J and then ceo of can go please go ahead sir.
spk_1: Yeah, how are you?
spk_0: Hello everyone and welcome to candles. 2021 1st quarter on earnings course
spk_1: Malaysia India E. G. Shot to to show the g shock that don't want to jesus, I want to go to the trading
spk_0: China's gradual economic recovery and various targeted stimulus policies are set to more widely revive auto consumption across the country in 2021. As a result, Quarter, sales surge of consumer spending continued to get more mountain in the first quarter of 2021. On the other hand, we also noted that the pressure on the supply side caused by auto parts shortage has increased and will likely bring uncertainties in the overall pace of the industry's recovery
spk_1: quite well with a good year, which uh is fighting with Jeff. Let me be sick as you total woman to check into that you need to have attached, Let me be eating you union question where let me be, you saw the Asia? Let me be the question, Let me br E.
spk_0: Kazenga. We make steady progress across our business lines. In the first quarter of total revenues grew to 1.1 billion RMB surpassing the high end of our previous guidance range by approximately 7% operating income, sustained growth moment in the quarter and came in at 160 million RMB compared to a loss from operations of 81.3 million RMB in the same period of 2020 net loss for the quarter was 274 million RMB primary. Attributable to an investment investment loss of 447 million RMB. Leo toe,
spk_1: which is not only a tell me to go down well with the time thing will be included in the Nevada since one will be in your system with the judges for that to go to the, to the monkey wrench in here with the father that she's a journey for, she's a hostess for she's a jolly, jesus Buchi George. Our attention to that, you don't quote center when she, which is based on the chinese from the judges
spk_0: since we first launched, Kangol has devoted felt the building a reliable, efficient and exceptional automotive transaction services platform. Those core values and aspirations remain just as important to us today as we aim to provide consumers with creative products and a bad customer service experience while also propelling china's automotive industry forward by connecting dealers, financial institutions. Om and our industry resources remain firmly committed to our long term vision and I've continued to steadily advance our business development plans during the quarter, further deepening our routes across our three main business lines car trading transactions, aftermarket services, facilitation and automotive financing, facilitation and form a close group with our services. As a result, we are revolutionizing the relationships among different parties along the auto value chain while also empowering and creating value for all of them.
spk_1: So do you
Looking for More?

This transcript is an excerpt of the full conference call. Right now our servers are busy working on other stuff. () If you're interested in the full conference call transcript please let us know by clicking the button below.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only. Earnings Call, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.