Operator
Good morning, ladies and gentlemen, and thank you for standing by for Dada s fourth-quarter 2020 earnings conference call. [Operator instructions] As a reminder, today s conference call is being recorded. I will now turn the meeting over to your host for today s call, Ms. Caroline Dong, head of investor relations for Dada.
Please proceed, Caroline.
Head of Investor Relations
Thank you, operator. Hello, everyone, and thank you for joining us today. Our fourth-quarter 2020 earnings release was distributed earlier today and is available on our IR website at ir.imdada.cn as well as on global newswire services. On the call today from Dada, we have Mr.