|Yuhua Ye||Investor Relations|
|Tongbo Liu||Chief Executive Officer|
|Selena Lu Lv||Chief Financial Officer|
Ladies and gentlemen, thank you for standing by, and welcome to Sunlands’ Fourth Quarter and Full Year 2020 Earnings Conference Call. At this time, all participants will be in a listen-only mode. After prepared remarks by the management team, there will be a question-and-answer session. Today’s conference call is being recorded.
If you have any objections, you may disconnect at this time.