From:ChinaDaily | 2021-05-11 11:24
BEIJING - China s vehicle inventory alert index, which reflects the inventory pressure on automobile dealers, rose 0.9 percentage points month-on-month in April, industrial data showed.
The index stood at 56.4 percent in April, down 0.4 percentage points from a year ago, according to the China Automobile Dealers Association.
A higher reading indicates weaker market demand, higher inventory pressure and greater risks. The month-on-month rise is mainly due to insufficient market demand and declining sales last month, said the association.
Despite the strong demand recovery after the May Day holiday and insufficient chip supply, the inventory can meet the market demand in the next two months, it said.
2021-05-10 12:30:29 GMT2021-05-10 20:30:29(Beijing Time) Xinhua English
BEIJING, May 10 (Xinhua) China s vehicle inventory alert index, which reflects the inventory pressure on automobile dealers, rose 0.9 percentage points month on month in April, industrial data showed.
The index stood at 56.4 percent in April, down 0.4 percentage points from a year ago, according to the China Automobile Dealers Association.
A higher reading indicates weaker market demand, higher inventory pressure and greater risks. The month-on-month rise is mainly due to insufficient market demand and declining sales last month, said the association.
Despite the strong demand recovery after the May Day holiday and insufficient chip supply, the inventory can meet the market demand in the next two months, it said.
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Operator
Good morning, and good evening, everyone. Welcome to the Cango, Inc. s Fourth Quarter and Full Year 2020 Earnings Conference Call. [Operator Instructions] This call is also being broadcast live on the company s IR website.
Joining us today are Mr. Jiayuan Lin, Chief Executive Officer; and Mr. Michael Zhang, Chief Financial Officer of the company. Following management s prepared remarks, we will conduct the Q&A session. Before we begin, I refer you to the safe harbor statement in the company s earnings release, which also applies to the conference today, as management will make forward-looking statements.
With this said, I m now turning the call over to Mr. Jiayuan Lin, CEO of Cango. Please go ahead, sir.