Good morning and good evening, everyone. Welcome to Concord Medical's first quarter 2016 earnings conference call. With us today are Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical; Adam Sun, Chief Investment Officer of the Company; and Miss Fang Liu, IR Manager of the Company. Mr. Fang Liu, IR Manager, please go ahead.

The conference results were released earlier today and are available on the Company's investor relations Web site as well as on the respective wire services. Before we continue, please note that the discussion today will contain forward-looking statements made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties and as such our results may materially differ from the views expressed today. Further information regarding those and other risks and uncertainties is included in our registration segment and our Form 10-K and other documents filed with the SEC. Concord Medical does not assume any obligation to update any forward-looking statements, except as required under applicable law. At this time, I'd like to turn the call over to Dr. Yang. Please go ahead.

Hello, everyone. Welcome to the Concord Medical first quarter 2016 earnings conference call. During the first quarter of 2016, our revenue and profits were seeing some headwinds due to some internal and external factors. Our total net revenue fell 17% compared to the same period last year with a loss of RMB32 million. As we initiated the business model transformation since 2014, the number of our original radiotherapy and imaging diagnostic centers has stopped increasing. The development of our wholly-owned diagnosis centers -- the wholly-owned Level II specialty cancer hospitals featured by radiotherapy and imaging diagnosis also caused an impact on our revenue increase. At the same time Concord Cancer Hospital, which we acquired in Singapore last April, has now come to a new stage of business and treatment process restructuring, brought obvious profit decrease. On the other side, Concord Cancer Hospital has started to receive patient from Mainland China and provide the most advanced treatment approach and medicine since this March. We believe, with further collaboration between Concord Cancer Hospital and MD Anderson Cancer Center, MDACC for short, on treatment, technology, knowhow and branding, it will receive more and more patients. Meanwhile, we also witnessed many inspiring achievements. Our established business strategy of upgrading the regional network of imaging diagnosis and radiotherapy centers to wholly owned independent centers is gradually implemented. The first hospital under this Chain, Datong Meizhongjiahe Cancer Hospital has opened preliminarily last week. This is the first hospital under the Meizhongjiahe brand. It will apply to join the local social insurance coverage and provide high-quality cancer treatment and diagnosis services to local patients at Datong and Shanxi Province. The network of Meizhongjiahe will join premium hospitals in Beijing, Shanghai and Guangzhou to advance the Company's domestic leverage. Learning from the experience of constructing and developing Datong…

Thank you, Dr. Yang. Following first quarter 2016 financial highlights, total net revenues were RMB125 million or $19.4 million in the first quarter of 2016, a 17.1% decrease from net revenues from the network business of RMB150.7 million in the first quarter of 2015. Total net revenues include net revenue from the network business of RMB121.6 million or $18.9 million and net revenue from Concord Cancer Hospital of RMB3.4 million or $0.5 Million. Gross profit was RMB45.4 million or $7 million, representing a 39% decrease from RMB74.4 million in the first quarter of 2015. The gross profit margin for the first quarter of 2016 was 36.3% compared to 49.4% for the first quarter of 2015. Net loss attributable to ordinary shareholders for the first quarter of 2016 was RMB32.2 million or $5 million compared to net income of RMB28.5 million for the first quarter of 2016. Basic and diluted loss per ADS in the first quarter of 2016 were RMB0.73 or $0.11 and RMB0.73, $0.11 respectively compared to basic and diluted profit from ADS of RMB6.8 and RMB0.68 respectively in the first quarter of 2015. Non-GAAP net loss for the first quarter of 2016 was RMB30.2 million or $4.7 million compared to non-GAAP net income of RMB30.5 million for the first quarter of 2015. Non-GAAP basic and diluted loss per ADS in the first quarter of 2016 was RMB0.67 or $0.11 and RMB0.67, $0.11 respectively. Adjusted EBITDA non-GAAP was RMB31 million or $4.8 million for the first quarter of 2016, representing a 55% decrease from RMB68.8 million in the first quarter of 2016. Network business, network revenue was RMB121.6 million or $18.9 million, 19% decrease from net revenue of RMB150.7 million in the first quarter of 2015, attributable to the closure of certain cooperative centers in our network of centers…

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Once again thank you for joining us today. Please don’t hesitate to contact us if you have further questions. Thank you for your continued support. Have a good day.

Ladies and gentlemen, that does conclude our conference for today. Thank you for participating. You may all disconnect. Thank you.