Noah Holdings Limited

Good evening and welcome to the NOAA Holdings 1Q20 Earnings Conference Call. All participants will be in a listen-only mode. Should you need any assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded. I would now like to turn the conference over to Mr. Grant Pan, CFO. Please go ahead.

Thank you, Operator. And good morning and good evening to all the investors and analysts on the call. Chairlady Wang and I are very happy to report to you about our first quarter performance. First, let me hand it over to Chairlady Wang to share with you the performances of NOAA for the first quarter in 2020.

Thank you, Blan. Regarding the agenda of today's phone conference, I will first talk about Hongguan's view. In summary, the first quarter of 2020 in Asia, Thank you for joining us today. The COVID-19 pandemic has also made the world of wealth management restart with new rules. No-contact, live broadcast, online, and self-employment have become key elements that every institution must be prepared for. The technological content and innovation capabilities of wealth management businesses, such as big data, artificial intelligence, and other digital technologies, have continued to grow in the areas of customer and channel opening, product service, investment services, and risk management. After the fall of the non-standard standard, let all of this become realistic and possible.