Noah Holdings Limited

Good day, and welcome to the NOAA Holdings Limited Third Quarter 2020 Earnings Conference Call. All participants will be in a listen-only mode. Should you need 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 that this event is being recorded. I would now like to turn the conference over to Jingbo Wang. Please go ahead, sir.

Jingbo Wang Thank you.

2020 is a new beginning. After 30 years of construction, Shanghai has become an international financial center characterized by RMB. More than 50% of the RMB assets held by foreign markets are distributed in Shanghai. Shanghai has become an open RMB asset allocation center. 2020 is also the 15th anniversary of Loya Control Group's start-up in Shanghai. We are grateful for the development and support of this city. From the risk event of 618 last year, Weiguo announced that the non-standard transformation has been five seasons so far. Thank you for the team's efforts and the support of the market. I am honored to report to you, dear shareholders and analysts, that this season has been a satisfactory performance. The standardization of products and the active number of customers have created a new high. Customer confidence has been restored and strengthened. The team is in good spirits. It can be said that our strategic transformation has achieved a step-by-step success. Next, I will report on the overall performance of Weiguo in the third quarter of 2020. 2020 is a new beginning. After 30 years of development, Shanghai has developed into an international financial center specializes in RMB-oriented asset allocation.