Q4 2019 Noah Holdings Ltd Earnings Call Transcript
Hello. And welcome to Noah Holdings Limited Announces Unaudited Financial Results for the Fourth Quarter of 2019 Conference Call. (Operator Instructions) Please note, this event is being recorded. I would now like to turn the conference over to your host today, Jingbo Wang. Please go ahead, ma'am.
(foreign language)
[Interpreted] For today's agenda, I will first share my views on the microeconomy (sic) [macroeconomy] and then briefly summarize Noah's overall performance for the full year 2019, the development of our business segments and the gains and challenges during our transformation. Our CFO, Grant Pan, will follow with a detailed discussion of Noah's full year and quarterly financial performance. We will conclude the call with questions-and-answer session.
The past 2019 was a tough year for Noah, where the Camsing incident has tested the bottom line of our business ethics and operations. We
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