Noah Holdings Limited

Good day and welcome to the NOAA Holdings Second Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing star, then zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on a touch-tone phone. To withdraw your question, please press star, then two. Please note this event is being recorded. I would now like to turn the conference over to Melo Xi, Director of Investor Relations. Please go ahead.

Thank you, operator. Good morning and welcome to NOAA's 2023 Second Quarter Earnings Call. I'm Melo Xi, Director of Investor Relations and NOAA Group. The presenters joining us today are Ms. Wang Jingbo, our co-founder, chairlady, and CEO, and Mr. Glenn Pan, our CFO. Before we start, we'd like to kindly remind you that during today's call, we may make forward-looking statements based on our current expectations of the business. Please keep in mind that these statements are subjected to risks and uncertainties that may cause no actual results to differ from these statements. We do not undertake any duty to update these statements. For discussion of some of the key risks that could affect results, please see the Safe Harbor Statement section of our 6-K filing. will also refer to certain non-GAAP measures and you will find recommendations in our 6K report made available on the financial report section of NOAA's investor relations website. Also, please note that nothing on this call constitutes an offer to sell or a solicitation of an offer to purchase any interest in any NOAA or NOAA affiliated products. This call is copyrighted material of NOAA and may not be duplicated without consent. Please also be aware that the link to a live webcast with presentation materials is available on our investor relations website. With that, I would like to welcome our chairlady and CEO, Ms. Wang Jingbo. Chairlady, hand it to you now. Thanks.

Thank you, Lino. Today's phone call, I would like to talk about the thinking of the macroeconomic economy and the financial management industry, the internationalization of Norway, and report on the overall performance of the first half of the year and the development of major business units. Next, I would like to ask Pan Qing to introduce the financial information of this quarter to you. Finally, we will have a Q&A session. In the second quarter of 2023, we observed that China's high-end customers' concerns about geopolitical conflicts and global economic recession have surpassed inflation, which has become the core problem that high-end customers in Asia are most concerned about, and has become a key factor in their consideration of strategic asset allocation. At the same time, due to the innovation and breakthrough of AI technology driven by CHAT-GBG, and other high-end asset managers who are familiar with VC and other first-class market investments. For the new technical cycle and investment opportunities that it may bring, we are looking forward to it and hope that it will be set up. The high uncertainty of Hongguan has given space for multi-discipline and multi-agency configuration strategies to play. We recommend that high-end and family customers in Luoya conduct strategic asset configuration analysis and adjustment at this critical point. First of all, it is the basic safety analysis of all aspects. for the agenda of today's conference call.