NOAH earnings call for the period ending . : Good day, ladies and gentlemen. Welcome to Noah Holdings Limited First Quarter 2019 Financial Results Conference Call. At this time, all participants are in listen-only mode. (Operator Instructions) As a reminder, this conference is being recorded. After the US market closed on Thursday, Noah issued a press release announcing its first quarter 2019 financial results, which is available on the company's IR website at ir.noahgroup.com. This call is also being webcast live and will be available for replay purposes on the company's website.