RLX Technology Inc.

Hello, ladies and gentlemen. Thank you for standing by for the RLX Technology Incorporated's first quarter 2021 earnings conference call. At this time, all participants are in listen-only mode. After management's remarks, there will be a question and answer session. Today's conference call is being recorded and is expected to last for about 40 minutes. I will now turn the call over to your host, Mr. Sam Tsang, head of investor relations of the company. Please go ahead, Sam.

Thank you very much. Hello, everyone, and welcome to RxTechnology's first quarter 2021 earnings conference call. The company's financials and operational results were released through PL Newswire services earlier today and have been made available online. You can also view the earnings price release by visiting the IR section of our website at ir.relaxtech.com. On today's call, our co-founder, Chairperson of the Board of Directors and Chief Executive Officer, Ms. Kate Wang, will make some general remarks on our first quarter achievements and strategic focuses going forward. Then, our Chief Financial Officer, Mr. Chao Lu, will elaborate further on our specific initiatives and take us through our financial results for the first quarter ended March 31st, 2021. Before we continue, please note that today's discussion will contain four looking statements made under the safe harbor provisions of the U.S. Traffic Security Litigation Reform Act of 1995. These statements typically contain words such as made, will, expect, target, estimate, intent, believe, potential, continue, or similar expressions. Forward-looking statements involve inherent risks and uncertainties. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, many of which factors are beyond our control. The company does not undertake any application to update its forward-looking information. except as required under the applicable law. Please note that RLX Technologies' earnings press release and this conference call include discussion of unaudited GAAP financial measures as well as unaudited non-GAAP financial measures. RLX Technologies' press release contains a reconciliation of the unaudited non-GAAP measures to the unaudited gap measures. I will now turn the call over to Ms. Kate Wendt. Please go ahead.

Thank you, Sam. Thanks, everyone, for making your time to join our earnings conference call today. First quarter 2021 was an eventful one for our company and the industry. In January, we successfully listed on New York Stock Exchange. After listing, We continued to the leadership in scientific research, technology, and product development, supply chain production, and distribution and regional network. Our net revenues for the first quarter grew 48% quarter over quarter. In March, the authorities made an announcement seeking public comments regarding a proposal to revise relevant regulations aimed at strengthening the supervision of e-cigarettes and solving the quality and safety risks, and forth advertising problems among others. Just yesterday, the newly revised law on the protection of minors was enacted. Partial clauses address the prevention of underage use of alcohol and tobacco, e-cigarettes included. At Relapse, we have always been upholding user value, corporate value, and social value as the key pillars of everything we do. It is the relentless pursuit of these values that makes us the most trusted brand of choice and a leading force in our industry. The dynamic market and regulatory environment serve as continued inspiration for us to keep pioneering in all fronts, at a speed and with purpose. For our users, we focus on value creation through product development to meet their diverse needs, and through distribution and regional network enhancement to ensure their seamless investing cost purchase experience. For our corporate stakeholders and partners, we focus on value creation through investing into science and technology to reinforce our sustainable advantage and empower everyone in our value chain. For the society, we focus on value creation through providing products of highest quality and safety standards to address markers for harm reduction, and through fighting against counterfeit products and against illegal marketing and sales to minors. To keep pace with our business development, we have been steadily attracting and developing high-caliber talent to strengthen our capability. In the first quarter, they appointed Mr. Chao Lu as our Chief Financial Officer. He brings over a decade of investment banking experience and a comprehensive understanding of China's healthcare industry. We are pleased to welcome him to our management team and believe he will be an invaluable addition to our company. With that, I will now turn the call over to Chao. who has been with us for more than two months now. He will elaborate further on some of the initiatives taken during the past quarter and go over our operational and financial results in more detail. Chao, please go ahead.