Jingbo Wang | Co-Founder, Chairwoman & CEO |
Qing Pan | CFO |
Sonia Han | IR |
Emma Xu | Bank of America Merrill Lynch |
Han Pu | CICC |
Good evening, and welcome to the Noah Holdings 4Q '20 Earnings Conference Call. [Operator Instructions]. I would now like to hand the conference over to Ms. Jingbo Wang, Co-Founder and Chief Executive Officer at Noah Holdings. Please go ahead.