Hello, ladies and gentlemen, and welcome to participate in IT Tech Packaging's Third Quarter of 2018 Earnings Conference Call. At this time, I would like to inform you that this conference is being recorded. [Operator Instructions] Joining us today are Mr. Zhenyong Liu, IT Tech Packaging's Chairman and Chief Executive Officer; and Ms. Jing Hao, the Company's Chief Financial Officer. Remarks from both Mr. Liu and Ms. Hao will be delivered in English by interpreters. IT Tech Packaging announced its third quarter of 2018 financial results via press release yesterday, which can be found on the company's website at www. itpackaging.cn. First, Mr. Liu will brief you on the company's key operational highlights over the third quarter of 2018 and then Ms. Hao will review the company's financial results. Before we start, I would like to draw your attention to our safe harbor statement. Management's prepared remarks contain forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact in its announcement, are forward-looking statements, including, but not limited to, anticipated revenues from the corrugating medium paper, tissue paper, offset printing paper and digital photo paper business segments; the actions and initiatives of current and potential competitors; the company's ability to introduce new products; the company's ability to implement capacity expansion; market acceptance of new products; general economic and business conditions; the ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The company undertakes no obligation to update forward-looking statements to reflect subsequent or current events or circumstances or to changes in its expectation except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that this expectation will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. There is a presentation document featuring management's prepared remarks, and it is now available for download from the company's website at www.itpackaging.cn. Please note that there will be discussions on non-GAAP financial measure or EBITDA or earnings before interest, taxes, depreciation and amortization. Please refer to our press release for a complete reconciliation of EBITDA to net income. As a kind reminder, all members -- all numbers in our presentation are quoted in U.S. dollars, and all comparisons refer to year-over-year comparisons unless otherwise stated. I would now like to turn the call over to Mr. Liu. His comments will be delivered in English by Dan McCarron from Weitian Investor Relations. Mr. McCarron, please go ahead, sir.

Thank you, operator. Good morning, everyone. Thanks for joining our Third Quarter 2018 Earnings Conference Call. With decreases in both revenues and margins, our third quarter results highlighted continued challenges facing our business. Our total revenue decreased by 20.2% to $26.7 million, and gross profit decreased by 82.6% to $1.3 million. Production of regular CPM (sic) [ CMP ] was suspended in September 2018 due to equipment maintenance. Our production of offset printing paper was temporarily restricted in August and September 2018 for the same reason. As a result, the sales quantities of regular CPM (sic) [ CMP ] and offset printing paper products significantly decreased in the third quarter of 2018. Looking ahead, with the heightened government efforts on environmental protection, the paper industry faces significant risks and uncertainties. As a result, our financial performance could be volatile in the near term. Now I will turn the call over to our CFO, Ms. Jing Hao, who will review and comment on the third quarter financial results. Her comments will be delivered in English by my colleague, Janice Wang. Janice, please go ahead.

Thanks, Dan. Thanks, everyone, for being on the call. Next, on behalf of the management team, I will summarize some key financial results for the third quarter of 2018. Also, I will occasionally refer to specific production lines associated with various products. I will make clear which products I am referring to. For reference, the numbering system for our production line is provided on Slide #17. Now let's look at our financial performance for the third quarter of 2018. Please turn to Slide #7. For the third quarter of 2018, total revenue decreased 20.2% to $26.7 million due to a decrease in sales volume across regular CMP and offset printing paper, partially offset by increases in ASPs across all product categories. Turning to Slide 8. For the third quarter of 2018, the CMP segment, including both regular CMP and lightweight CMP, generated revenue of $26.1 million, representing 97.5% of total revenue. $19.2 million of revenue was from our regular CMP products and $6.9 million was from lightweight CMP. CMP segment volume decreased by 13.4% to 46,247 tonnes, of which 33,928 tonnes were regular CMP and 12,319 tonnes were lightweight CMP. Average selling price, or ASP, for regular CMP increased by 9.3% to $566 per tonne, while ASP for lightweight CMP increased 13.2% to $556 per tonne. Turning to Slide 9. For the third quarter of 2018, our offset printing paper segment generated revenue of $0.7 million, representing 2.5% of total revenue. We shipped 902 tonnes offset printing paper in the third quarter, a decrease of 88.8% from the same period last year. Average selling price for offset printing paper increased 7.1% to $727 per tonne. Turning to Slide 10. We recognized 0 net revenue from tissue paper products for the third quarter of 2018 compared to $0.7 million from sales…

Certainly, ma'am. Thank you for attending IT Tech Packaging's Third Quarter 2018 Earnings Conference Call. This concludes our call today, and we thank you all for listening in. Goodbye.