NIO Inc.

Ladies and gentlemen, thank you for standing by for NEO Incorporated's first quarter 2020 earnings conference call. At this time, all participants are in a listen-only mode. Today's conference call is being recorded. I will now turn the call over to your host, Mr. Rui Chen, Director of Investor Relations of the company. Please go ahead, Rui.

Thank you, Rachel. Good evening and good morning, everyone. Welcome to NIO's fourth quarter 2020 earnings conference call. The company's financial and operating results were published in the press release earlier today and are posted at the company's IR website. On today's call, we have Mr. William Li, founder, chairman of the board, and CEO, Ms. Stephen Fong, chief financial officer, Ms. Danny Chu, VP of finance, Before we continue, please be kindly reminded that today's discussion 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 involve inherent risks and uncertainties. As such, the company's actual results may be materially different from the views expressed today. Further information regarding risks and uncertainties is included in certain filings of the company with the U.S. Securities and Exchange Commission. The company does not assume any obligation to update any forward-looking statement except as required under applicable law. Please also note that new early press release and this conference call include discussions of unaudited gap financial measures. as well as unaudited non-GAAP financial measures. Please refer to news press release which contains a reconsultation of the unaudited non-GAAP measures to comparable GAAP measures. With that, I will now turn the call over to our CEO, Mr. William Li. William, go ahead, please.

Hello, everyone. Thank you very much for attending the first quarter of 2020.