Ladies and gentlemen, thank you for standing by and welcome to the China Pharma Holdings Incorporated FY 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. There will be a presentation, followed by a question-and-answer session. [Operator Instructions] I must advise you that this conference is being recorded. I would now like to hand the conference over to first speaker today, Ms. Diana Huang. Thank you. Please go ahead.

Thank you, operator. Good morning, ladies and gentlemen, and good evening to those of you joining us from China. Welcome to China Pharma Holdings’ fiscal year 2019 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. The Company’s earnings press release issued earlier this morning is available on our website at www.chinapharmaholdings.com. I would like to remind all 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 referring 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 products; 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 requisites regulation approval to commercialize our products; fluctuations in operating results, including funding for research and development 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, March the 31st, 2020. 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 fiscal year 2019 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 China Pharma. “In 2019, we were continuously influenced by the policies and the market environment of the pharmaceutical industry in China. In particular, the various cost control related policies in connection with the healthcare insurance, Group Purchasing Organization activities, consistency evaluation, and the control of the percentage of the drug expenditure among the total hospital expenditure. After evaluating the detailed rules of those major policies and considering the potential return of investments and our recent cash flow position, we have made the decision to impair all advances for our remaining four pipeline products in 2019. However, we may resume the development of those formulas in the future if sufficient funding and other favorable conditions arise. Nevertheless, we continue to explore in the field of comprehensive healthcare. Comprehensive healthcare focuses on people's daily life, aging and disease and pays attention to all kinds of risk factors and misunderstandings affecting health. We launched a wash‐free sanitizer in early 2020 to address the market needs caused by COVID‐19 in China. We aim to leverage our expertise in the PRC for the development, manufacture and the commercialization of the pharmaceutical and comprehensive healthcare products for the benefit of human health. I will read the rest of Ms. Li’s prepared remarks in English. Now I would like to review our fiscal year 2019 financial results and balance sheet information. Revenue decreased by 11.4% to $11 million for the year ended December 31, 2019, as compared to $12.3 million for the year ended December 31, 2018. This decrease in sales revenue was mainly due to the increased standards of the drug tender procurement of GPO drugs have to pass the consistency…

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 through China, we always welcome and encourage any visitors from our shareholders, potential investors, and analysts. This concludes China Pharma's fiscal year 2019 earnings call.

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