Noah Holdings Limited

Good evening and welcome to the NOAA Holdings 1Q21 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, this event is being recorded. I would now like to turn the conference over to Ms. Jinbo Wang. Please go ahead.

Thank you, Mr. Hua. Today, on the agenda of our telephone meeting, I will first report on the overall performance of Luoya in the first quarter of 2021, the development situation and the strategy of the group, and then talk about Luoya's change and promotion of management thinking from product drive to customer-centered management. After that, we will go to Luoya Project to buy the headquarters building in the core area of Shanghai Hongqiao to give you a report. Then, please introduce the financial information of the quarter to Pan Qingwei. The last is the interactive Q&A. For the teleconference agenda today, I will first introduce the overall performance of NOAA in the first quarter of 2021.

the development of our major business segments and the strategy of the group, then talk about the changes and progress of NOAA's management thinking from product-driven to client-oriented. We will then brief you on NOAA's planning to purchase the headquarter premises located in the courtroom of Hongqiao CBD in Shanghai. After that, please welcome Panqing to introduce the financial results of the quarter, followed by the Q&A. Looking back to 2020, It's a year full of challenges and uncertainty. However, all staff of NOAA faced with such uncertainty, continued the transition and reform, and made some achievements. I'm very pleased that we lived up to the expectations of our shareholders and investors, and NOAA delivered a very successful quarter. 2021年一季度,洛牙实现销售净收入12.2亿元人民币,同比增长64.1%,