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Operator Good morning, ladies and gentlemen and thank you for standing by for Baozun s first-quarter 2021 earnings conference call. [Operator instructions] I will now turn the meeting over to your host for today s call, Ms. Nicole Zhao, investor relations manager for Baozun. Please proceed, Nicole. Nicole Zhao Investor Relations Manager Thank you, operator. Hello, everyone and thank you for joining us today. Our first-quarter 2021 earnings release was distributed earlier today, and this is available on our IR website at ir.baozun.com as well as on global newswire services. On the call today from Baozun, we have Mr. Vincent Qiu, chairman and chief executive officer; Mr. Arthur Yu, chief financial officer; and Ms. Tracy Li, our vice president of strategic business development. Mr. ....
Operator Good morning, ladies and gentlemen. Thank you for standing by for Baozun s fourth-quarter and full-year 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. Wendy Sun, investor relations director of Baozun. Please proceed, Wendy. Wendy Sun Investor Relations Director Thank you, operator. Hello, everyone, and thank you for joining us today. Our fourth quarter and full-year 2020 earnings release was distributed earlier today and is available on our IR website at ir.baozun.com, as well as on GlobeNewswire services. You can also find a PowerPoint presentation that accompanies our comments today on our IR website at sections of quarterly results and webcast and presentations. ....
Operator Ladies and gentlemen, good day, everyone, and welcome to Vipshop Holdings Limited s Fourth Quarter and Full Year 2020 Earnings Conference Call. At this point, I would like to turn the call to Ms. Jessie Fan, Vipshop s Director of Investor Relations. Please proceed. Jessie Fan Head Of Investor Relations Thank you, operator. Hello, everyone, and thank you for joining Vipshop s Fourth Quarter and Full Year 2020 Earnings Conference Call. Before we begin, I will read the safe harbor statement. During this conference call, we will make forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on our current expectations, assumptions, estimates and projections about Vipshop Holdings Limited and its industry. All statements other than statements of historical facts we may make during this call are forward-looking statements. In some cases, these forward-looking statements can be identified by words ....