Thank you everyone for joining us today. Welcome to China Automotive Systems 2021 first quarter conference call. Joining us today are Mr. Qizhou Wu, Chief Executive Officer, and Mr. Jie Li, Chief Financial Officer of China Automotive Systems. They will be available to answer questions later in the conference call with the assistance of translation. Before we begin, I will remind all listeners that throughout this call, we may make statements that may contain forward-looking statements. Forward-looking statements represent the company's estimates and assumptions only as of the date of this call. As a result, the company's actions could differ materially from those contained in these forward-looking statements due to a number of factors, including those described under the heading Risk Factors in the company's Form 10-K Annual Report for the year ended December 31, 2020, as filed with the Securities and Exchange Commission, and in other documents filed by the company from time -to -time with the Securities and Exchange Commission. If the outbreak of COVID-19 is not effectively and timely controlled, our business operations and financial condition may be materially and adversely affected as a result of the deteriorating market outlook for automobile sales, the slowdown in regional and national economic growth, weakened liquidity and financial condition of our customers or other factors that we cannot foresee. Any of these factors and other factors are beyond our control, could have an adverse effect on the overall business environment, cause uncertainty in the regions where we conduct business, cause our business to suffer in ways that we cannot predict and materially and adversely impact our business, financial condition, and results of operations. A prolonged disruption of any further unforeseen delay in our operations of the manufacturing, delivery, and assembly processes within any of our production facilities could continue to result in delays in the shipment of products to our customers, increase costs, and reduce revenue. The company expressly disclaims any duty to provide updates to any forward-looking statements made in this call, whether as a result of new information, future events, or otherwise. On this call, I will provide a brief overview and summary of the first quarter results for the period ending March 31, 2020. Management will then conduct a question and answer session. The following 2021 first quarter financial results are unaudited and are reported using U.S. GAAP accounting. For the purposes of our call today, I'll review the financial results in U.S. dollars. We'll begin with a review of recent dynamics of the Chinese economy, the automobile industry, and China Automotive's market position. We are pleased to report that our net sales rose 107% to $133.3 million from $73.6 million in the first quarter of 2020. Sales of our hydraulic products grew by 61.2%, plus electric power steering products rose 204.9% and represented 19% of total sales, compared to 11% in the first quarter of 2020. This growth is partially due to the Chinese economy essentially making full recovery from the impact of the COVID-19 pandemic in the fourth quarter of 2020. In the first quarter of 2021, Chinese GDP grew by 18.3% year-over-year. Chinese industrial production grew by 22% year-over-year, and overall exports and imports each grew by over 30% year-over-year in the first quarter of 2021. According to statistics from the China Association of Automobile Manufacturers, CAAM, automobile sales in China rose by 75.6% year-over-year in the first quarter of 2021, as passenger vehicle sales grew 75.1% year-over-year, commercial vehicle sales increased by 77.3% year-over-year, electric vehicle sales climbed 280% year-over-year, and automobile export sales were up 74.6% year-over-year. Sales of all passenger vehicle segments were higher year-over-year, and SUVs continued to outsell sedans. Improved commercial vehicle sales were generated by a combination of the move to the National VI emission standards, stronger anti-overloading enforcement, and the initiation of infrastructure projects. The sale of Chinese national branded vehicles in the first quarter of 2021, a key market for CAAS, increased by 81.5% year-over-year and represented 41.5% of total automobile sales in China. These growth numbers partially reflect the comparison to the low sales in the first quarter of 2020 generated by the COVID-19 restrictions in China. The 2021 first quarter ended strongly, with March automobile sales alone rising by 73.6% quarter-to-quarter and by 74.9% year-to-year. Our sales to our three main markets, the Chinese OEM passenger vehicle market, the Chinese OEM commercial vehicle market, and export markets, all achieved growth in the first quarter of 2021. Due to our operations, we generated sales, profit, and profits in the first quarter as well. Sales to the Chinese passenger vehicle market rebound strongly compared to the same quarter last year. As previously announced at the end of 2020, we have begun supplying more EPS products to the electric vehicle market as a number of large OEMs have begun using our product, including Great Wall, Chery Auto, Beijing Auto, and JAC Motors. The outlook is for approximately 200,000 of our EPS units to be supplied to the EV market in 2021. Sales of our commercial vehicle products are increased from both the Chinese OEM and the North American aftermarket. Sales to our Tier 1 customers in North America grew by 26.3% year-over-year in the first quarter of 2021. Our gross profit increased 75.9% year-over-year with a stable gross margin. Total operating expenses increased 57.4% year-over-year. This combination resulted in income from operations climbing by 311.1% year-over-year compared with the first quarter of 2021. I'm sorry, 2020. For the first quarter of 2021, our net income attributable to parent company common shareholders was $3.1 million with basic and diluted income per share of $0.10, compared to a slight net loss in the first quarter of 2020. With the rate of technology change in the automobile industry rising, we increased our research and development expenses by 28.6% year-over-year in the first quarter of 2021. We announced a new proprietary EPS system during the first quarter, which integrates an interface with the vehicle's main data to create lane keeping assist, automatic parking assist, lane centering, and traffic jam assist functions as part of the company's advanced driver assistance program, ADAS, or more commonly referred to as autonomous driving system. This system is a company and Chinese automobile industry milestone. For the first time, a Chinese domestic steering producer drove the entire product development cycle in-house, from design to testing. We also developed the key proprietary algorithms for the steering control software. A number of purchase orders have been received for the [audio distortion] steering systems from domestic and foreign OEMs such as Great Wall, GAC, Chery Auto, and Fiat Chrysler Automobiles. We will continue to improve our current products as well as introduce other new products in the future to provide advanced products to our customers. Building financial strength, I made the top priority to provide the resources to support future growth and enhance shareholder value. Our total cash and cash equivalents or pledged cash was $122 million as of March 31, 2021. Total parent company stockholders' equity rose to $304.4 million on March 31, 2021, from $300.2 million at the end of 2020. We expect the Chinese economy will continue to grow in 2021, but at a slower rate than the 18.3% experienced in the first quarter of 2021. We have been experiencing greater demand for our advanced EPS and autonomous driving products, and the sale of our advanced hydraulic products continue to expand in both domestic and international markets. I will now review the financial results in the first quarter of 2021. Net sales increased by 77% to $103.2 million in the first quarter of 2021 compared to $73.6 million in the first quarter of 2020. The net sales increase was mainly due to the recovery of the Chinese economy and Chinese automobile demand post-COVID-19. Net sales of traditional steering products and parts increased by 51.6% to $105.6 million for the first quarter of 2021 compared to $65.5 million for the same period in 2020. Net sales of electric power steering products rose 204.9% to $24.7 million from $8.1 million for the same period in 2020. EPS product sales were 19% of the total net sales for the first quarter of 2021 compared with 11% for the same period in 2020. Export sales rose 30.4% to $42.7 million in the first quarter of 2021 compared with $31 million in the first quarter of 2020. Gross profit rose by 75.9% to $19.7 million compared to $11.2 million in the first quarter of 2020. Gross margin in the first quarter of 2021 was 15.1%, generally consistent with the 15.2% in the first quarter of 2020. Gain on other sales was $1.3 million compared to $0.6 million in the first quarter of 2020. Selling expenses were $5.6 million compared to $2.1 million in the first quarter of 2020. This increase in selling expenses was primarily due to higher sales volumes and increased air freight charges. Selling expenses represented 4.3% of net sales in the first quarter of 2021 compared to 2.9% in the first quarter of 2020. General and administrative expenses, G&A, were $4.6 million compared to $3.4 million in the first quarter of 2020. The increase in G&A expense was primarily due to higher personnel costs to support the increase in net sales. G&A expenses represented 3.5% of net sales in the first quarter of 2021 compared with 4.6% of net sales in the first quarter of 2020. Research and development expenses, R&D, were $6.7 million and compared to $5.2 million in the first quarter of 2020. R&D expenses represented 5.1% of net sales in the first quarter of 2021 compared to 7.1% in the first quarter of 2020. Other income net was $1.7 million for the first quarter of 2021 compared to $0.1 million for the three months ended March 31, 2020. The increase of $1.6 million was mainly due to government subsidies of $1.4 million received in the first three months of 2021. Income from operations was $4.2 million in the first quarter of 2021 compared to $1 million in the first quarter of 2020. This growth was primarily due to a higher year-over-year increase in sales and gross profit compared with the increase in operating expenses. Interest expense was $0.3 million in the first quarter of 2021 compared to $0.4 million in the first quarter of 2020, primarily due to less loans. Net financial expense was $0.2 million in the first quarter of 2021 compared to $0.5 million in the first quarter of 2020. The reduction in net financial expense was primarily due to less foreign exchange losses. Income before income tax expenses and equity earnings of affiliated companies was $5.3 million. Excuse me. In the first quarter of 2021 compared to $0.2 million in the first quarter of 2020. The increase in income before income tax expenses and equity in earnings of affiliated companies in the first quarter of 2021 was mainly due to higher income from operations and higher other income. Net income attributable to parent company's common shareholders was $3.2 million in the first quarter of 2021 compared to a net loss attributable to parent company's common shareholders of $0.03 million in the first quarter of 2020. Diluted income per share was $0.10 in the first quarter of 2021 compared to nil per share in the first quarter of 2020. The weighted average number of diluted common shares outstanding was 30,857,736 in the first quarter of 2021 compared to 31,174,045 shares in the first quarter of 2020. We'll review a few balance sheet items. As of March 31, 2021, total cash and equivalents comprised cash were $122 million. Total cash receivable including notes receivable was $236.6 million. Accounts payable, including notes payable, were $223.9 million. Short-term bank and government loans were $46.2 million. Total parent company stockholders' equity was $304.4 million as of March 31, 2021, compared to $303.2 million as of December 31, 2020. For the business outlook, management has raised revenue guidance for the full year 2021 from $470 million to $485 million. This target is based on the company's current views of operating and market conditions, which are subject to change. With that, operator, we're ready to begin the Q&A. Thank you. At this time, we'll be conducting a question and answer session. If you'd like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two if you'd like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing your star keys. One moment please while we pull for questions. Hi, operator. Hi, Melissa. We have some questions from our analyst, Will Gregozeski, Greenridge Global. Due to the travel schedule, he's unable to attend the call, so he has emailed his questions. He has the following five questions. First question. Can you break out the revenue from Brazil in the first quarter of 2021 compared to first quarter 2020? Where did the large Stellantis order start? [Non-English content] The answer for the first question, the revenue from Brazil market, in 2020 first quarter was about $2 million. It quickly increased to $6 million-$7 million in the first quarter of 2021. That's representing more than 200% increase. In terms of when the order started with Stellantis, that order started in the end of 2020. In first quarter 2020, in December, more specifically. The sales of the EPS products seems to be accelerating. Is this related more to the growth in the market or demand for your EPS products? [Non-English content] The growth of our EPS product sales is mainly driven by the market demand for our EPS products. If you look at the overall passenger auto sales in China, in the first quarter, we saw a phenomenon growth. Overall year-over-year growth for auto sales is over 20%. If you look at our EPS product sales, we grew more than 200%. That clearly outpaced the overall market, and this kind of growth mainly attributable to our large customers like Great Wall, Geely, Changan, and their order of EPS products. These orders are start to piling in the first quarter of 2020 already, and we see it continuing accelerating in the first quarter of 2021. Let's now switch to the G&A side, and the question three is, G&A expenses was lower than each of the last three quarters. What's the good range we should expect for this going forward? [Non-English content] Yes, in the first quarter of 2021, we underwent a restructuring. We have streamlined our operation, especially in the managerial and administrative category, especially the non-manufacturing staff. We have done some consolidation, our G&A area we have managed to reduce by 20%. Going forward, you should see a similar trend continue in the following quarters. The fourth question is. Can you talk more about $1.4 million loss from affiliated companies? I do not see a discussion on the cause of that in the 10-Q. [Non-English content] [Non-English content] OK. The loss from affiliate company is mainly from our investment in the investment fund. In the past, we invested in a few venture capital funds, mainly targeting in the automotive technology space. Some of our investments went public in the last 12 months. The market has been quite fluctuating in the last few quarters, especially in the first quarter of 2021. This booking is mainly due to one of our portfolio companies went public and their stock has suffered a decline in the first quarter. We have take a booking in the first quarter. The last question, what are you budgeting for CapEx in 2021 and 2022? What will be spent up? [Non-English content] OK. The CapEx budgeting for 2021 is about $18 million, 2022 is about $20 million. Most of those budget will go into the maintenance CapEx, but also a portion will go into the new projects, mostly in the EPS category, as we will continue to invest in electric motor technologies. That would be the most of the use of the CapEx. With that, operator, we can take questions from the queue if there's anything today. Thank you. There are no questions at this time. However, if you would like to join the question queue, please press star one on your telephone keypad. We'll pause a moment to allow for any other questions. Thank you. This concludes today's question and answer session. I'll turn the floor back to Mr. Wu for any final comments. I want to thank you for your participation in today's conference call. This is [audio distortion], and we look forward to speaking with you again. Thank you. Thank you. This concludes today's conference. You may disconnect your lines at this time. Thank you for your participation.