Debbie Ding | Senior IR Manager |
Joey Wat | CEO & Director |
Andy Yeung | CFO |
Xiaopo Wei | Citigroup |
Brian Bittner | Oppenheimer |
Michelle Cheng | Goldman Sachs Group |
Annie Ling | Jefferies |
Sara Senatore | Sanford C. Bernstein & Co. |
Christine Peng | UBS Investment Bank |
Ladies and gentlemen, thank you for standing by, and welcome to the Yum China 2020 First Quarter Earnings Conference Call. [Operator Instructions]. Please be advised that today's conference is being recorded. I'd now like to hand the conference over to your first speaker today, to Ms. Debbie Ding.