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Cango Inc.
Q12021
6/1/2021
Operator
Conference Call Operator
Good morning and good evening, everyone. Welcome to Cango Incorporated's 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 are Mr. Jiayuan Lin, Chief Executive Officer, and Mr. Yongyi Zhang, Chief Financial Officer of the company. Following management's prepared remarks, we will conduct the Q&A session. Before we begin, I refer you to the safe harbour 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 am now turning the call over to Mr. Jiayuan Lin, CEO of Kango. Please go ahead, sir.
Jiayuan Lin
Chief Executive Officer
Hello, everyone, and welcome to CanGo's 2021 First Quarter on Earnings Call.
Shirley Wang
Analyst, Morgan Stanley
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, auto sales surge and consumer spending continue to gain momentum 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 significantly. and will likely bring uncertainties in the overall pace of the industry's recovery.
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