Hello and welcome to the China Recycling Energy's 2013 Full Year Earnings Conference Call. All participants will be in listen-only mode. (Operator Instructions) After today’s presentation, there will be an opportunity to ask questions. (Operator Instructions) Please note that this event is being recorded. Now, I would like to turn the conference over to [Ms. Wei] (ph) please go ahead.

Thank you. Thank you for joining us on today’s call. Before we start, I would like to remind you that the management’s prepared remarks contains forward-looking statements that 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 but not limited to saturations in customers demand, management of rapid growth, intensity of competition, general economic conditions, geo-political events and regulatory changes, and other information detailed from time-to-time in the company’s filings and future filings with the United States Securities and Exchange Commission. Accordingly, although the company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. In addition any projections as with the company’s future performance represents management's estimate as of today March 26, 2014. The company undertakes no obligation to correct or update any forward-looking statements provided as a result of new information, future events, or event change in our expectations. Joining us on today's call are Mr. Ku, our Chief Executive Officer; and Mr. Chong, Chief Financial Officer. As there will be some translations during the call, we ask for your patience at that time. Mr. Ku, the Chief Executive Officer of China Recycling Energy Corporation will now deliver his opening remarks and Mr. Chong will translate them thereafter. Please go ahead sir.

[Foreign Language]

Thank you, Mr. Ku. I will now translate the speech by Mr. Ku. Good morning and for those in China, good evening. CREG saw healthy income growth in this year characterized by increase of $62.01 million in system sales compared to last year as five systems were completed. For the financial year ended December 31st, 2013, the total sales including system sales and contingent rental income was $63.19 million, an increase of $61.95 million compared to last year. During the financial year ended December 31st, the company completed a 12-megawatt biomass power generation system in Pucheng Phase 2, 12-megawatt biomass power generation system in Shenqiu Phase 2, two units of 3-megawatt plus furnace pressure recovery turbine system in Shanxi Datong project and a 25-megawatt waste heat power generation system in Jitie project. And continue the construction of the ongoing projects including the 15-megawatt waste gas power generation system of Shanxi Datong, Xuzhou Zhongtai, CDQ power generation project Zhangzhi CDQ project and Shenqiu and Pucheng CDQ project. CDQ stands for Coke Dry Quenching waste heat power generation project. All projects under construction are progressing well and I expect it to be delivered on schedule. Before we get Mr. Chong on the financials, I would like to briefly discuss the current dynamics of our market and our place in the market as well as our outlook going forward. In recent years, energy saving and environmental protection became the new fronts for marking the development of hi-tech industry. According to the statistics, the global market size for environmental protection industry increased from US$250 billion in 1992 to US$600 billion last year with the annual growth rate to 8%, which greatly surpasses the global economic growth rate. The energy saving and environmental protection has become the sunrise industry globally. China is at the crucial…

Okay. Following is the financial report. Thank you, Mr. Ku. And before that, I would like to state that all our numbers are presented in U.S. dollars. I will start with the three months ended December 31st, 2013. We had a number of operational highlights in the fourth quarter of 2013. The total sales increased $12.98 million as compared to $0.2 million for the fourth quarter of 2012. Net income grew by 169% or $4.21 million as compared to $1.57 million for the fourth quarter of 2012. Fully diluted earnings per share of $0.07 increased by $0.04 as compared to $0.03 of fourth quarter of 2012. For the full year ended 31st December, 2013, we also had a number of operational highlights. Total sales increased $61.95 million, compared to $1.25 million for the year 2012. Net income grew by 359% to $15.63 million as compared to $3.41 million for the year ended December 31st, 2012. And fully diluted earnings per share of $0.29 increased 314% from fully diluted EPS of $0.07 in the year ended December 2012. Total sales including system sales in contingent rental income for the year ended December 31st, 2013, was $63.19 million while total sales for the previous year was $1.25 million. So, this year increase of $61.94 million as a result of increases in system sales. Of the total sales, sales of systems for the year ended December 2013 were $62.01 million, compared to zero for the year ended December 2012, an increase of $62 million. For the year ended December 2013, Shenqiu Phase II, Datong, Pucheng Phase II and (indiscernible) were completed and so in comparison, in the previous year, none of the power generation system were completed. For the year ended December 2013, the company received contingent rental income of $1.1 million from…

Thank you. Ladies and gentlemen, we will now be conducting a question-and-answer session. (Operator Instructions) Thank you. There are no questions at this time. So, I would like to turn the conference back to Ms. [Wei] (ph) for any closing comments.

Okay. Thank you for joining us on China Recycling Energy Corporations' 2013 full year financial results conference call. We look forward to update you on the future developments. Feel free to get in touch with us anytime if you have any further questions, concerns or comments. Have a nice day.

Thank you. That does conclude today's teleconference. You may now disconnect your phone lines. Have a nice day.