|Margaret Shi||Investor Relations-Director|
|Charles Yang||Chief Financial Officer|
|William Ding||Chief Executive Officer|
|Alex Poon||Morgan Stanley|
|Kenneth Fong||Credit Suisse|
Good day and welcome to the NetEase 2020 Fourth Quarter and Full Year’s Earnings Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Margaret Shi, IR Director of NetEase. Please go ahead, ma'am.
Thank you, operator.