Operator
Good afternoon, everyone, and welcome to the AXT's first-quarter 2021 financial conference call. Leading the call today is Dr. Morris Young, chief executive officer; and Gary Fischer, chief financial officer. My name is Laurie, and I will be your coordinator today.
[Operator instructions] And I would now like to turn the call over to Leslie Green, investor relations for AXT.
Leslie Green --
Investor Relations
Thank you, Laurie, and good afternoon, everyone. Before we begin, I would like to remind you that during the course of this conference call, including comments made in response to your questions, we will provide projections or make other forward-looking statements regarding, among other things, the future financial performance of the company, market conditions and trends, including expected growth in the markets we serve, emerging applications using chips or devices fabricated on our substrates, our product mix, our ability to increase orders in succeeding quarters to control costs and expenses to improve manufacturing yields and efficiencies to utilize our manufacturing capacity, the schedule and timeliness regarding our relocation, the growing environmental, health and safety and chemical industry regulations in China, as well as global economic and political conditions, including trade tariffs and restrictions. We wish to caution you that such statements deal with future events are based on management's current expectations and are subject to risks and uncertainties that could cause actual events or results to differ materially. These uncertainties and risks include, but are not limited to, overall conditions in the markets in which the company competes, global financial conditions and uncertainties, COVID-19 and other outbreaks of a contagious disease, potential tariffs and trade restrictions, increased environmental restrictions in China, market acceptance and demand for the company's products, the financial performance of our partially owned supply chain companies and the impact of delays by our customers on the timing of sales of their products.