Aaron Li | Investor Relations |
Lihong Wang | Chairwoman & Chief Executive Officer |
Warren Wang | Chief Financial Officer |
Lauren Xu | Credit Suisse |
Sheng Zhong | Morgan Stanley |
Blake Lee | Aviation Investment |
Joy Wei | 86Research |
Ladies and gentlemen, thank you for standing by. And welcome to RISE Education Fourth Quarter and Full Year 2020 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] Please be advised that today's conference is being recorded.