Qudian Inc. American Depositary Shares, each representing one Class A Ordinary Share

Hello, ladies and gentlemen, thank you for standing by for QDN's third quarter 2021 earnings conference call. At this time, all participants are in listen-only mode. After management's prepared remarks, there will be a question and answer session. Today's conference has been recorded. I will now turn the call over to our host from QDN. Please go ahead.

Hello, everyone, and welcome to QDN's third quarter 2021 earnings conference call. The company's results were issued via newsware services earlier today and were posted online. You can download the earnings press release and sign up for the company's distribution list by visiting our website at ir.qdm.com. Mr. Ming Luo, our founder, chairman, and chief executive officer, and Ms. Cici Zhu, our VP of investor relations, will start the call with prepared remarks, and then we will open the call to Q&A. Before we continue, please note that today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's results may be materially different from the views expressed today. Further information regarding these and other risks and uncertainties is included in the Companies 20-F as filed with the U.S. Securities and Exchange Commission. The Companies does not assume any obligation to update any forward-looking statements except as required under applicable law. Please also note that CDS earnings press release and this conference call includes discussion of un-audited GAAP financial information as well as un-audited non-GAAP financial measures. Xu Dian's press release contains a reconciliation of the unaudited non-GAAP measures to the unaudited most directly comparable GAAP measures. We also posted a slide presentation on our IR website, providing details on our results for the quarter. We will reference those results in our prepared remarks, but will not refer to specific slides during our discussion. I will now turn the call over to our CEO, Min Luo. Please go ahead.

Hello, everyone. Thank you for joining us on today's call. Amid fast-evolving market conditions in the third quarter, we continue to execute prudent operational strategies in our cash credit business, ensuring our asset quality at a stable level. The transaction volume for our loan book business decreases sequentially by 2.1% to 3.4 billion RMB in this quarter. And our own balance sheet loan balance decreased sequentially by 40.4% to 3 billion RMB. During the quarter, we continued to make steady progress with our Wan Limu Kids Business. As of December 12, 2021, we had seven centers operating in Xiamen, Fuzhou, Shanghai, and Shenzhen, all delivering high-quality extra curricular activities, services, and products to children and families. The ramp-up of Wan Limu case center is slower than expected due to COVID-19 resurgence. We are continuing to closely monitor ongoing COVID-19 conditions and proactively taking precautionary measures as our highlights priority to ensure the safety and health of the children, families, and staff in our centers. We also fully support the recent government regulatory changes announced for the supplemental lending industry and will strictly comply with the applying cable regulations. Moving forward, we will continue to focus on improving the quality of our products and service while also exploring new investment and business opportunities. Now, I would like to turn the call over to Sissy for more details on our results.