Operator: Good morning everyone. My name is Sarah and I will be your conference operator today. At this time, I would like to welcome you all to the Trina Solar Fourth Quarter and Full Year 2012 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session.
Thank you. I would now like to turn the call over to our host, Mr. (Kevin Zhang). You may begin your conference.
Kevin Zhang - IR: Thank you, operator. Good day to all and welcome to Trina Solar's fourth quarter and full year 2012 earnings conference call. On behalf of Thomas Young, this is Kevin Zhang, Trina Solar's Manager of Investor Relations. With us today are Trina Solar's Chairman and CEO, Jifan Gao; Chief Financial Officer, Terry Wang; and SVP and President of Trina Solar's Module Business Unit, Zhiguo Zhu.
Before I turn the call over to Mr. Gao, may I remind our listeners that in 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, and therefore, we refer you to more detailed discussions of the risks and uncertainties in the Company's filings with the Securities and Exchange Commission.
In addition, any projections as to the Company's future performance represent management's estimates as of today, February 26, 2013. Trina Solar assumes no obligation to update these projections in the future as market conditions change.
For those of you unable to listen to the entire call at this time, a recording will be available via webcast for 90 days at the Investor Relations section of Trina Solar's website at trinasolar.com.
With that, it is my pleasure to turn the call over to Trina Solar's Chairman and CEO, Mr. Jifan Gao for our third quarter opening remarks.
Jifan Gao - Chairman and CEO: Thank you, Kevin and thank you everyone for joining us today. During the fourth quarter supply/demand imbalance and acquisition pricing in the marketplace continued to impact our business and financial performance resulting in a negative loss.
In such environment we've made importance in key operating areas such as inventory management, account receivables collection and manufacturing cost reduction. (Indiscernible) of our effects we achieved around $75 million positive operating cash flow in the fourth quarter. In the fourth quarter we showed a positive effect of our streamlining and restructuring effect in our global business units.
Further progress was also made in the advancement of our in-house system business opportunities in China and in the Americas, which includes our recently announced 50-megawatt project in Gansu Province. Despite challenging market conditions, including challenges in government policy in some European markets, we believe continued improvements through low (indiscernible) and the total system costs will drive increased global demand in 2013.