Ladies and gentlemen, thank you for standing by and welcome to Q2 2015 China Pharma Holdings, Inc. Earnings Conference Call. At this time, all participants are in a listen-only mode. There will be a discussion followed by a question-and-answer session. [Operator Instructions]. I must advise you that this conference is being recorded today Friday, 14th of August, 2015. I would now like to hand the call over to Diana Huang. Thank you. Please go ahead.

Thank you, Baneri [ph]. Good morning ladies and gentlemen and good evening to those of you joining us from China. Welcome to China Pharma Holdings’ second quarter 2015 earnings conference call. I am Diana Huang, the company’s Investor Relations Manager. Speaking on the call today are China Pharma’s President and CEO and Interim CFO Ms. Zhilin Li; and Corporate Vice President, Mr. Sam Hsing. In addition, I will provide translation during the Q&A session of the call. I would like to remind our listeners that on this call management's prepared remarks contain forward-looking statements, which are subject to risks and uncertainties and management may make additional forward-looking statements in response to your questions. Therefore, the company claims the protection of the Safe Harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ from those discussed today due to such risks as market and customer acceptance and demand for our products, our ability to market our product, the impact of competitive products and pricing, the ability to develop and launch new products on a timely basis, the regulatory environment including government regulation in the PRC, our ability to obtain the requisite regulatory approvals to commercialize our products, fluctuations in operating results including spending for R&D and sales and marketing activities, and other risks detailed from time-to-time in our filings with the SEC. In addition, any projections as to the company's future performance represent management's estimates as of today, August 14, 2015. China Pharma assumes no obligation to update those projections in the future as market conditions change. Now, it is my pleasure to turn the call over to China Pharma's CEO and Interim CFO, Ms. Li to make her opening remarks in Chinese, which will be then translated by Sam. Afterwards, Sam will continue translating Ms. Li’s detailed discussion of the company's second quarter 2015 financial results.

[Foreign Language]

Thank you, Diana and good morning, everyone. I would like to thank each of you for joining us today, and for your continued support of the China Pharma. Our costs of the expenses have experienced certain increase in this quarter. Due to the new GMP standards for quality control improvements which lead to an increase in our production costs and the increased sales and marketing efforts to recover market share. Although the financial performance in this quarter did not immediately reflects the mature change of our production ability. For continued efforts, we are very confident of receiving expanding our markets. And 9.6 R&D, approximately US$1.6 million, current subsidiaries we received in July 2015 also reflects your reorganization from comments on the fundamentals of our business. We also planned to upgrade granule and cephalosporin production lines in our all the facilities by the end of this year. I will now read the rest of the Ms. LI’s prepared remarks in English. Revenue for the three months ended June 30, 2015 was $5.7 million, a decrease of 7% from $6.1 million for the three months ended June 30, 2014. This was mainly because we were in the middle of the GMP upgrading process starting from 2014 and as a result, we missed some of the drug tenders in several provinces, which affects the sales of the subsequent quarters. For the three months ended June 30, 2015, our cost of revenue was $4.5 million, or 80% of the total revenue, which represented an increase of the $0.8 million from $3.7 million, or 61% of total revenue, in the second quarter of 2014. The increase in cost of revenue in the second quarter of 2015 was mainly caused by the introduction of the new GMP standards for quality control improvement, which leads to an…

On behalf of the entire China Pharma team, we would like to thank you for your interest in the company and the participation on this call. For any of you traveling to China, we always welcome and encourage any visitors from our shareholders, potential investors and analysts. This concludes the China Pharma’s second quarter 2015 earnings call. Thanks.

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