Jeffrey Wang | Director of Investor Relations |
Feng Zhou | Chief Executive Officer |
Lei Jin | Vice President of Operations |
Peng Su | Vice President of Strategy & Capital Markets |
Sheng Zhong | Morgan Stanley |
Brian Gong | Citigroup |
Alex Xie | Crédit Suisse |
Thomas Shen | Nomura Securities |
Thomas Chong | Jefferies |
Liping Zhao | CICC |
Candis Chan | Daiwa Securities |
Good day and welcome to the Youdao 2021 Second Quarter Earnings Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Jeffrey Wang, Investor Relations Director for Youdao. Please go ahead.