Ladies and gentlemen, thank you for standing by and welcome to the Second First Half and Fiscal Year ended 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator instructions] I would now like to hand conference over to your speaker for today, David Rudnick. Go ahead please.

Thank you, Karla. Good morning, ladies and gentlemen, and good evening to those of you who are joining us from China. Welcome to China Ceramics second half and fiscal year-end 2019 earnings conference call. With us today are China Ceramics' Chief Executive Officer, Ms. Meishuang Huang; and Chief Financial Officer, Mr. Edmund Hen. Before I turn the call over to Ms. Huang, I would like to address forward-looking statements that may be discussed on the call. Forward-looking statements involve risks and uncertainties and include, among others, those regarding revenue, operating expenses, other income and expense, taxes, and future business outlook. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements. The Company claims the Safe Harbor protections for such forward-looking statements as contemplated under the Private Securities Litigation Reform Act of 1995. Please refer to the documents filed by the Company with the SEC, specifically the most recent reports on Forms 20-F and 6-K which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. We assume no obligation to update any forward-looking statements or information, which speak as of their respective dates. And now, it's my pleasure to turn the call over to China Ceramics' CEO Ms. Meishuang Huang; and China Ceramics' CFO, Mr. Edmund Hen. Sarah Bai will be translating for Ms. Huang. Ms. Huang, you may proceed.

Thank you, David. On behalf of the Company, I would like to welcome everyone to our second half and fiscal year-end 2019 earnings conference call. During the second half of 2019, we continue to experience challenging market conditions as we did in the same period of 2018. However, as a result of this of a 15% average price decrease of our products in October 2019, our revenue increased modestly in the second half of 2019 due to a robust increase in our sales volume. For fiscal year 2019, we utilize production facilities capable of producing 12.4 million square meters of ceramic tiles per year out of our effective total annual production capacity of 51.6 million square meters of ceramic tile. Consistent with our practices in past quarters, we maintained a reduced utilization of existing plant capacity based on the current market environment to keep our operating costs low. We intend to bring additional capacity online as the business environment improves. In December 2019, a novel strain of coronavirus was reported in Wuhan, China, which the World Health Organization has declared a global pandemic. The pandemic disrupted supply chains and affected production and sales across a range of industries in China as a result of quarantines, facility closures, travel and logistics restrictions, and related public health orders. Consequently, we have experienced a significant adverse effect on our business from the pandemic in the first four months of 2020. Although, our manufacturing plants are now fully operational, our production was halted due to the pandemic for most of the month of February. The disruption of normal business activity has resulted in a reduced demand for our products as evidenced by a high number of purchase order cancellations, which have resulted in reduced sales. However, in the long-term, we believe that our building materials sector will continue to benefit from growth in the real estate sector due to continued urbanization and it's important to try this domestic growth. Further, we believe that local governments will take measures to stimulate property sales and pent up consumer demand for residential properties due to the coronavirus will ultimately benefit our building material sector. With that, I would like to turn over the call to the Company's Chief Financial Officer, Mr Edmund Hen, who will discuss the Company's second half of 2019 earnings results in more detail. Thank you.

Thank you, Ms. Huang. I will now move on to a more detailed discussion of financial results for the six months and ending December 31, 2019. Our revenue for the six months and December 31, 2019 was RMB150.2 million or USD21.4 million, a 5.3% increase from RMB142.6 million or USD20.8 million for the same period of 2018. The year-over-year increase in revenue was due to 25.5% increase in our sales volume to 6.3 million square meters of ceramic tiles for the second six months of 2019 compared to 5 million square meters of ceramic tiles for the same period of 2018, offset by the 16% decrease in average selling price to RMB24 or $3.41 for the second six months of 2019 from RMB28.6 or $4.05 for the same period of 2018. Gross profit for the six months ended December 31, 2019 was RMB66 million or $9.4 million converted to a gross loss of RMB46 million or $6.7 million for the same period of 2018. The gross profit margin was 44% as compared to 32.3% gross loss margin for the same period of 2018. Other income for the six month ended December 31, 2019 was RMB7.5 million or $1.1 million. The same totals as for the same period of 2018. Other income primarily consists of rental income. The Company received by leasing out one of the production lines from its Hengdali facility pursuant to an eight-year lease contract. Selling and distribution expenses for the six months ended December 31, 2019 were RMB5.6 million or $9.8 million, a slight increase RMB5.3 million or $9.8 million for the same period of 2018. Administrative expenses for the six months ended December 31, 2019 were RMB9.2 million or $1.3 million as compared to RMB7.5 million or $1.1 million for the same period of 2018. The…

[Operator Instructions] We have a question from the line of Howard Flinker.

I don't have a question. I just want to wish all of you good health. I don't have anything special to say. Thank you.

Thank you. Thank you for your greetings.

Yes, I hope your family very healthy. Yes, stay safe, exactly everybody. Thank you very much.

Yes, stay safe. Thank you.

Thank you. [Operator Instructions] And we don't have a question on queue. I would like to hand a call back to David Rudnick. David?

Thank you. On behalf of the entire China Ceramics management team, I want to thank all of you for your interest and participation in this call. This concludes China Ceramics second half and fiscal year-end 2019 earnings call. Thank you.

Thanks everyone. You may now disconnect.

Thank you. Bye, bye.