Good morning and good evening, ladies and gentlemen. Thank you and welcome to Yunji's second quarter 2021 earnings conference call. With us today are Mr. Shanglue Xiao, Chairman and Chief Executive Officer, Chengqi Zhang, Vice President of Finance, and Ms. Kaye Liu, Investor Relations Director of the company. Now, I would like to hand the conference over to first speaker today, Ms. Kaye Liu, IR of Yunji. Please go ahead, ma'am. Hello, everyone. Welcome to our second quarter 2021 earnings call. Before we start, please note that this call will contain forward-looking statements within the meaning of Private Securities Litigation Reform Act of 1995 that are based on our current expectations and current marketing operation conditions and relate to events that involve known or unknown risks, uncertainties and other factors affecting Yunji and its industry. These forward-looking statements can be identified by terminology such as "will," "expect," "anticipate," "continue," or other similar expressions. For a detailed discussion of these risks and uncertainties, please refer to our related document filed with U.S. SEC. Any forward-looking statements that we make on this call are based on assumptions as of today, and are expressly qualified in their entirety by cautionary statements, risk factors, and details of the company's filing with SEC. Yunji does not undertake any obligation to update this statement except as required under applicable law. With that, I will now turn over to Shanglue Xiao, Chairman and CEO of Yunji. [Non-English content] Hello, everyone. Welcome to Yunji's second quarter 2021 earnings call. [Non-English content] Based on product selection and social sharing, Yunji's marketing model has established a complete and healthy life cycle. The cycle starts with the product selection, promotion by our service managers and purchase facilitation. While our service managers benefit from promotional incentives, our members have a better understanding of the product through the service manager's introductions, receive cost-effective products that satisfy their needs, establish trust with Yunji's platform and our sharing-based model, and conduct repeat purchases. Meanwhile, our service managers will earn income by delivering services. Common prosperity has also been Yunji's unremitting vision since its establishment. [Non-English content] To create more user value and offer products with better quality, we remain focused on three core strategies: highly curated product selection, Differentiated Supply Chain, and a specialized retail system. [Non-English content] In May 2021, we launched the Yunji 99 special sales portal on our Yunji app as one of the core portals for our curated product selection strategy, aiming to become the portal for must-hit products across all of the internet. Our Yunji 99 portal funnels our platform's core traffic to a refined selection of the must-hit products across all categories. The addition of this section reinforces our refined supply chain strategy, as well as the cultivation of the must-hit product sales by connecting Yunji members to quality items with viral appeal. By focusing on highly cost-effective products, we help millions of members access quality products from all over the world. [Non-English content] The Yunji 99 special sales portal features a curated selection of up to 99 products each day. These 99 products are vigorously screened and selected through strict criteria and a basic product pool selection process. Of the 99 products, the top 10 best sellers will be highly recommended and provided with more resources support. Providing such high quality brands at affordable prices enhances the Yunji shopping experience and encourages purchases. We will continue to optimize our product selection and utilize data-driven insights to enhance the Yunji shopping experience and provide our users with a true one-stop shopping solution. [Non-English content] As for our differentiated supply chain strategy, we recently celebrated the 11th anniversary of our private label skincare brand, SUYE. By utilizing our social sharing capabilities, we have helped SUYE to better express its brand value and accumulate a large group of loyal users over the years. By the end of 2020, SUYE had become a skincare brand with annual sales of more than RMB 1 billion on the Yunji platform and cultivated multiple mega hit products with hundreds of millions in annual sales. Within our differentiated supply chain matrix, we also introduced a number of unique products in various categories. For example, the first batch of our newly developed line of beauty drinks, which included 85,000 products, was sold out within just 57 seconds of its launch. We are currently optimizing production capacity and shipping speed, and look forward to these product lines performance after our production capacity has improved. [Non-English content] We chose to differentiate our strategic focus on the health industry for a number of reasons. First, we believe that the tailwind generated by the health industry brings tremendous value to not only us, but also our members. More importantly, we want to provide our service managers and members with methods to improve their physical strength and beauty. It is also our sincere hope that our service managers will develop a lifelong career on our platform that benefits not only themselves, but also their families. [Non-English content] Next, let me share the initiatives we have taken to utilize our specialized retail system and online traffic. These have helped millions of service managers discover and develop life changing career opportunities. Most of our service managers are women. We train our service managers to deliver professional services to our members and hope that they can gradually earn a decent monthly salary of tens of thousands of RMB. They are not only service managers, but also experts in various fields. They are entrepreneurs who hope for a change in their lives. We offer them many training programs in areas such as health management and marketing, so that they can become experts in the fields of cosmetics, health, and sales. These trainings enable them to reach customers with a more professional attitude and improve their marketing skills. The professional marketing skills are practical in use and also boost our sustainable development. Going forward, we hope that more leaders will emerge from within our service manager group, and we will focus on supporting these leaders while making our specialized retail system more complete and efficient. [Non-English content] During the second quarter, we maintained the entrepreneurial spirit and continued to conduct innovative initiatives. In terms of user retention, we set up a special group to better reach users, engage inactive users, and strengthen users' consumption frequency. In addition to developing new traffic channels, this group worked hard on content marketing and created their own original short-form video content. Meanwhile, we have also been preparing for our own live streaming sessions on third-party live streaming platforms, where I will host the session myself. With that, I will turn the floor over to Mr. Chengqi Zhang, our Vice President of Finance, to go through the financial results. Thank you, Shanglue Xiao. Hello, everyone. Before I go through our financial results, please note that all numbers stated in the following remarks are in RMB terms, and all comparisons and percentage changes are in a year-over-year basis unless otherwise noted. Starting this year, we are committed to enhancing our Supply Chain Differentiation strategy, upgrading our product selection with our new megahit product curation strategy, and refining our membership management system. We have also shifted our mindset to focus on sustainable long-term growth as we further improved our efficiency and employee structure. After several quarters of adjustments, our refined operations have resulted in significant improvements in our profitability, despite some fluctuations in our quarterly sales. During this quarter, we recorded an operating income of RMB 16 million and a net income of RMB 17 million, compared with the operating loss of RMB 45 million and the net loss of RMB 17 million a year ago. Now, let's take a closer look at our financials. Total revenue was RMB 571 million, compared to RMB 1,487 million a year ago. Revenue from sales of merchandise was RMB 472 million, and revenue from our marketplace business was RMB 88 million. In line with our renewed long-term growth strategy, we further optimized our selection of suppliers and merchants, which caused the revenue decrease in both our marketplace business and the merchandise sales during this quarter. As a result, gross margin improved to 75%, compared to 29% a year ago. During this quarter, we improved our operating efficiency by carefully selecting quarterly suppliers and products, removed certain products that were more inclined to face pricing and subsidized competition, and focused on our Supply Chain Differentiation and megahit product offerings. As a result, gross margin improved accordingly. Turning to our operating expenses. Fulfillment expenses were RMB 15 million, or 8.8% of total revenues, compared to RMB 129 million or 8.7% of total revenue a year ago. Sales and marketing expense were RMB 61 million, compared to RMB 228 million a year ago. As a percentage of total revenues, sales and marketing expenses were reduced to 10.8% from 15.4% in the same period last year. This decline was due to decreased business promotion expenses and reduced member management fees resulting from the improvements of our member management efficiency. Technology and content expenses were RMB 32 million, or 5.7% of total revenues, compared to RMB 59 million or 3.9% of total revenue a year ago. General and administrative expenses were RMB 43 million or 7.5% of total revenues compared to RMB 71 million or 4.8% of total revenue a year ago. This decrease was mainly due to a decrease in share-based compensation expenses. Total operating expenses in the second quarter decreased to RMB 187 million. We recorded an income from operation of RMB 16 million as compared to a loss of RMB 45 million a year ago. Net income was RMB 17 million, compared to a net loss of RMB 17 million a year ago. Adjusted net income was RMB 24 million, compared with RMB 20 million a year ago. Basic and diluted net income per share attributable to ordinary shareholders were both $0.01, compared to basic and diluted net loss per share attributable to ordinary shareholders of $0.01 in the same period of 2020. Moving on to liquidity. As of June 30th, 2021, we had a total of RMB 1.1 billion in cash and cash equivalents, restricted cash, and short-term investments on our balance sheet. Our liquid assets were sufficient enough to cover our payable obligations, and we did not hold any long-term bank loans or debt on our balance sheet. As we continue to execute our Supply Chain Differentiation and product curation strategies, we remain focused on our long-term growth objectives and profitability. We are confident that our innovation strategy and refined operation capability will continue to drive our sustainable development going forward. This concludes our prepared remarks for today. Operator, we are now ready to take questions. Thank you. Ladies and gentlemen, we will now begin the question and answer session. If you wish to ask a question, please press star one on your telephone keypad and wait for your name to be announced. If you wish to cancel your request, you may press the pound or hash key. When asking the question, please state your question in Chinese first, then repeat your question in English for the convenience of everyone in the call. Once again, to ask a question, please press star one on your telephone keypad. Once again, please press star one should you wish to ask a question. Once again, to ask a question, you may press star one on your telephone. It seems we don't have any questions from the line yet. Presenters, please continue. For anyone who would like to ask questions, please press star one on your telephone keypad. I don't see any questions from the line yet. Presenters or management, please continue. Thank you for joining us today. Please do not hesitate to contact us if you have further questions, and we look forward to talking with you next quarter. Thanks. Thank you. Ladies and gentlemen, that does conclude our conference for today. Thank you for participating. You may now all disconnect.