Everyone, welcome to the Innovent session. My name is Ling Zhang. I'm a Managing Director and Head of China Healthcare at JP Morgan. Here I would like to introduce Innovent, one of the most successful biotech companies in China, and Michael Yu. Dr. Yu is the Co-founder, Chairman, and the CEO of the company, and he built Innovent into a very successful company in China. I will let Dr. Yu to make the presentation. Over to you, Michael. Thank you, Ling. Thank you and JP Morgan for the opportunity. Thanks. I would like to take this opportunity to share with you what we have done in last year, particularly a few business highlights. At the same time, I would like to also share with you our perspective and what we are doing in terms of how we can build Innovent to be a global company for innovation. Can I have the second slide, please? This slide shows the two sections, which I am going to share with you. Let me start with the first part. Next slide. Slide three. This is a very brief capture of the key milestones which we were able to accomplish in last nine years since the company was incepted in 2011. Currently, we have four products on market and we have a pipeline with over 20 product candidates under the development at a different stage of clinical trials. Our first product, which is the PD-1 monoclonal antibody, we call TYVYT. Since we launched in March 2019, we were able to generate over RMB 2.5 billion by the end of third quarter last year. We have successfully built our manufacturing infrastructure and now become one of the company who has the largest manufacturing capacity for antibody production in China. By end of last year, our market capitalization has reached over $14 billion, and with over 3,000 employees as a company. Particularly, I would like to highlight a few accomplishment in last year, 2020. We were able to receive approval for 3 biosimilars to bevacizumab, rituximab, as well as adalimumab, which actually has made Innovent to be the only company in China who has successfully developed and launched 4 monoclonal antibodies. Also become one of very few companies to launch four monoclonal antibody products within nine years of corporate history. Additional to those four products, in 2020, we were able to file two supplement NDA for TYVYT, specifically for the first-line non-squamous and first-line squamous non-small cell lung carcinoma. We anticipate to receive approval sometime this year for those two important indications. Meanwhile, we were able to match primary endpoint of phase III trial of first-line hepatocellular carcinoma, which being a trial that TYVYT was combined with our biosimilar, which is to bevacizumab biosimilar. We plan to file NDA earlier this year. In the pipeline, we also achieved a few very critical milestones, particularly with one of novel antibody, which is against CD47, and we have shown that this monoclonal antibody is well-tolerated in a patient with cancer, but we already started to see strong antitumor activities in some indications. We anticipate to accelerating to pivotal trial for this molecule. A few more detailed indications data I'm going to share with you in next couple of slides. We also was able to successfully build seven additional business collaborations in 2020, including our expanded partnership with Eli Lilly and initiate a partnership which reached more than $2 billion with Roche, as well as with a few other organizations, from Electra to Coherus to MD Anderson Cancer Center. 2020 was a very accomplished year, which we have made significant progress in drug development, commercialization capability building up, as well as the growing of our business. Particularly, I would like to highlight a few specifics for you about our leading product, which is TYVYT. This molecule was approved in the end of 2018, was quickly approval for inclusion in the drug reimbursement, which is sponsored by Chinese government for the classical Hodgkin lymphoma. As mentioned earlier that we have more than 10 registration trial ongoing for this product, and 2 NDA under review, and additional few NDA under preparations. At the same time, we have a clinical trial for registration in patient with esophageal carcinoma and as well as the gastric cancers. Those trial going to add additional value if data met our preset defined endpoint, going to further expansion the potential market of these products. During the commercial year of 2019 and early in most half of the last year, because of the inclusion in the NRDL of the products, TYVYT remaining to be a leading PD-1 antibody in China. We are the number 1 brand products in terms of patient shares for this PD-1 products categories in China. We also further expanded our second facility, which to adding it up together of 24,000 liters now, which is dedicated to the production of TYVYT, as well as the additional newly approved products. Capacity we have for this product become a very important element for competition in this space. Same time, we believe that TYVYT is best positioned to explore the huge potential for global markets because of our partnership with Eli Lilly. Later last year, we entered a partnership with Eli Lilly to commercialize this product for global markets. Lilly plan to file BLA for first-line non-small cell lung carcinoma sometime this year, which going to unlock the value of this product outside of China. TYVYT remain to be our backbone product for the oncology areas, which is one of the major focuses for Innovent business. those significant progress we made and accomplished for those milestones, the Innovent since IPO in 2018, October, we was able to generate a very significant return for our investors. The market cap at IPO was over HKD 10 billion. Now is over HKD 100 billion, which represents by over 600% increase. Similarly for share price as well, compared to the IPO, we was generated over 480% for our investors in last two years. We are very grateful to our investors for their support and looking forward to work with you for the years to come. Next slide, which is slide seven, which show you the pipeline I was able to build in the last couple years. Additional to those four products, which is already on market, we have four additional products. Now it's under development for registration, which including IBI375, which is small molecule for FGFR1/2/3 as inhibitors. We are started a registration trial in China with NDA filing in Taiwan, and hopefully the data we generate in China will enable us for NDA filing with Chinese regulatory agency sometime this year. The same is true for IBI306. This is a PCSK9 monoclonal antibody. We are in the multiple phase III trials. Hopefully, we can quickly enroll the patient and release sometime late this year or early next year, we have data available for you to review. We also have IBI376 and IBI310, both now are in the registration trial. Those are four leading products beyond those four approval antibodies, which hopefully will become products sometime in next couple years. We also have more than 10 products under development. Those are in early stages. If we classify them into two categories, the first of all is oncology pipeline, which we have three products launch and 15 assets in development. Have a few leading molecule currently under development, including six of them as a bispecifics from 315, which is a PD-1/HER2, 318, which is PD-1 and a PD-L1. We hopefully that the ongoing studies will generate interesting data and so that we can share with you in the scientific conference, in this year or years to come. We also started expanding into a new category, which is cell therapy, with our partnership with a domestic Chinese company, based on the human BCMA antibody. Same is true for our partnership with Roche. Middle last year, we signed a deal with Roche, with the deal size is little bit over more than $2 billion. Those enable us to not only doing bispecifics, we're also expanding into a cell therapy space. In the second disease area we're working on, we call non-oncology, which including the ophthalmology, the autoimmune, as well as metabolic diseases. In this category, we have one product launch and four assets is under development. Particularly for PCSK9 antibody and GLP1 and glucagon bispecific inhibitors. Those may potentially unlock huge values for patient populations in China with millions of patients, from diabetes to obesity, to a patient who has NASH condition. Here, I would like to share with you two examples by starting with CD47 family. In this family, we have three product candidate. I start with a molecule called IBI188, which is a fully human monoclonal antibody against CD47. We have completed clinical study of phase I trial in U.S. and in China. The patient, we have treated over 70 patients, show that this product is well-tolerated. Now we are in the studies with the patient with AML and MDS. Very preliminary data is very encouraging and hopefully at the upcoming scientific conferences, we can share with you the early data from those studies with you. We also, in this category, we have a bispecific molecule we call IBI322, which is anti PD-L1 and anti CD47 as dual inhibitors. This molecule have potentially further reduced the cytotoxicity of CD47 because of target expressed in the normal blood cell. Can concentrate on this bispecific molecule to the cell which express PD-L1, which is tumor cell. We have started clinical study in U.S. and in China. Currently, it is at a dose escalation study, and hopefully that we can find a dose to move into a patient for testing of biological activities. Additionally, we have a monoclonal antibody against the ligand part of this pathway, which is SIRPα. In this molecule, we have designed that so that the antibody can specifically target the cell express SIRPα, so that the toxicity due to the side effect on the red cell and further reduce the toxicity. Innovent, I believe, is one of the very few company is well-positioned in this very promising CD47 areas. A second molecule I would like to highlight with you is in the ophthalmology space. As you know that in my early career, I was able to successfully develop the very first innovative antibody products in China for ocular diseases, including AMD and diabetic macular edema. We believe that for anti-VEGF agent, during the treatment, some of the patient population is not responsive. Some of the responder, they will become unresponsive following a few cycle of treatment. More and more data have generated because of the inflammation involved in the disease progression of the ocular diseases. Based on that, we have designed a bispecific molecule we call IBI302. This molecule not only blocking VEGF, but also inhibit the activity of complement. In the preclinical study, both in the in vitro and in vivo, in this animal model, particularly in slide 13, you see that our molecule, IBI302, at a relatively low level, show very promising biological activities. Compared to Avastin in the same setting of modeling, we see a much better anti-CNV activities. Based on that, we have moved into clinical studies, as shown in this slide 14, both in terms of vision acuity and there's a change in CST. Both parameters indicate IBI has a very strong biological activities. This activity reflecting the best correction in vision acuity and the reduction in retinal thickness. However, the dose escalation up to 4 milligram per injection, we found this molecule to be well-tolerated. Based on that, this data has been disclosed at the last year's AAO conference. As of today, we have initiated a multiple clinical trial, including the multiple dose escalation in the patient with wet AMD. We would like to find a very specific patient population who will be benefit from this molecule, and by reduce the percentage of a patient who are non-responder or become a non-responsive following the treatment of anti-VEGF agents. If we can demonstrate that, this molecule could become a very valuable asset for our pipelines because of the huge unmet medical needs. Those are just two examples that we would like to share with you the progress we have made in last one years in the early stage of product development. Slide 16. This slide show that the manufacturing capacity Innovent has invest and build in last couple years. Currently, we have two facilities with a total manufacturing bioreactor volume of 24,000 liters. It's been certified for GMP productions. It is currently in operations for the commercial supplies. Additionally, we are building a large scale facility with the capacity of a total of 36,000 liters. We anticipate the construction will be completed, and it will be validated sometime later this year. Once we complete that sort of facility, Innovent may become the company who has the largest manufacturing infrastructure in China, which will enable us to continue production for commercialization and a significant reduction in the cost of goods, the product we produced. That's the summary of our ongoing business and the highlights for the significant milestone we have achieved in 2020s. Next few slides, I would like to share with you the strategy for the growth of our next phase of business. Next slide, which is slide 19. As we shared with you a couple of weeks ago at our R&D Day, our development strategy for the next phase of our business is two steps. One is by focus on innovation. Second aspect is focus on globalization. Those two become two major aspects of our business now. First of all, for innovation, as we discussed the last time, now with Dr. Yong Jun Liu leading us for the R&D organization, who now have over 1,000 staff in the discovery and the development functions. We established our discovery lab, not only in China, but also expanded into outside of China, so that we can access to more talents in the world to establish the platform technology, particularly in the protein and antibody areas, so become one of the best labs in the world. By focus on biologic and precision medicine, we established Innovent Academy to complete our mission for the innovations. That will be based on, or focus on, the technology which enabling us for the true innovation. The same time can quickly develop the product globally. The disease area we are focused remaining to be the same as we indicate to you earlier, the oncology and the non-oncology, with different modalities. From monoclonal antibody to bispecific, multiple specific antibody to cell therapy, as well as ADC. Non-oncology disease areas will remain to focus on ophthalmologic and metabolic diseases. Some of the products in the early stage are under development, and you're going to hear more from those clinical studies. Additional to the product development capability in China, in the last six months, we are actively expanding our organization into ex-China space, including in the San Francisco Bay Area, as well as in the U.K. Now we have physically have Innovent staff and colleagues who are taking care of product development for the global markets. Currently, we have multiple products under development outside of China. Additional to PD-1, now IBI188, which is CD47, and PD-L1/CD47 with IBI322. Both are in the CD47 areas now are actively developed in the U.S. We are going to move more product into the ex-China space once we believe that those product can meet unmet medical needs for the patients outside of China. Additional to the discovery efforts we have in China, we are also actively expanding into spending lots of time and efforts for partnerships, which including the seven partnership we established in 2020, which described to you earlier. Partnership collaborations is one of strengths Innovent has built our business in last couple years. We will continue to do that. This will be a conclusion slide, which is 26, summarize for you for where we are, which is by the end of 2020. It gives here with you the perspective how the company will looks like by 2025 and 2030. Innovent is determined to be a leading biopharmaceutical company in the world by focus on innovation and globalization. Thank you for your attention