Millicent Tu | VP, IR |
Joey Wat | CEO |
Jacky Lo | CFO, VP & Treasurer |
Sara Senatore | Sanford Bernstein |
Xiaopo Wei | Citigroup |
Lillian Lou | Morgan Stanley |
Matt McGinley | Evercore |
Michelle Cheng | Goldman Sachs |
Chen Luo | Merrill Lynch Bank of America |
Anne Ling | Deutsche Bank |
Ladies and gentlemen, thank you for standing by and welcome to today's Yum China 2018 Third Quarter Earnings Conference Call. [Operator Instructions] I must advise you that this conference is being recorded today, Wednesday, the 31st of October 2018. I would now like to hand the conference over to your speaker today, Millicent Tu. Thank you. Please go ahead.