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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 or phrases such as
Credit: Khademhosseini Lab
(LOS ANGELES) - There are many mechanisms by which the body responds to foreign invaders. One of these involves the T-cells of the immune system, which have a number of different proteins on their surface called checkpoint proteins. These checkpoint proteins bind to proteins on the surface of other cells and can result in either stimulation or suppression of T-cell activity. Normally, surface proteins on foreign or invading cells will produce a stimulation of T-cell activity against these cells, while T-cell suppression is a built-in mechanism to prevent the immune system from attacking the body s own normal cells.