Millicent Tu | VP, IR |
Joey Wat | President and Chief Operating Officer |
Jacky Lo | Chief Financial Officer and Treasurer |
Chen Luo | Bank of America Merrill Lynch |
Sara Senatore | Bernstein |
Lillian Lou | Morgan Stanley |
Brian Bittner | Oppenheimer |
Xiaopo Wei | Citigroup |
Matt McGinley | Evercore |
Anne Ling | Deutsche Bank |
Michelle Cheng | Goldman Sachs |
Ladies and gentlemen, thank you for standing by and welcome to the Yum China 2018 First Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. There will be a presentation, followed by a question-and-answer session. [Operator Instructions] I must advise you that this conference is being recorded today, 2nd of May, 2018. I would now like to hand the conference over to your first speaker today, Ms.