Q1 2019 Cango Inc Earnings Call Transcript
Good morning, and good evening, everyone. Welcome to Cango, Inc.'s First Quarter 2019 Earnings Conference Call. (Operator Instructions) This call is also being broadcast live on the company's IR website.
Joining us today are Mr. Jiayuan Lin, Chief Executive Officer; and Mr. Yongyi Zhang, Chief Financial Officer of the company.
Following management's prepared remarks, we will conduct the Q&A session. Before we begin, I refer you to the safe harbor statement in the company's earnings release, which also applies to the conference call today as management will make forward-looking statements.
With that said, I'm now going to turn the call over to Mr. Jiayuan Lin, CEO of Cango. Please go ahead, sir.
[Interpreted] Hello, everyone. Welcome to our first quarter 2019 earnings conference call. As you know, 2018 marks China's first decrease in annual car sales in the last 2 decades, in the first quarter of 2019, driven by the escalating Sino-U. S. trade war and a softening economy,
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