At this time, I would like to turn the call to Ms. Jessie Zheng, Vipshop's head of investor relations. Hello, everyone, and thank you for joining Vipshop first quarter 2022 earnings conference call. With us today are Eric Shen, our co-founder, chairman, and CEO; and David Cui, our CFO.
It's been a tumultuous first quarter of 2022 for the stock market, and Wall Street investors went into the last day of March with ongoing uncertainty about what the future will bring. Walgreens Boots Alliance (NASDAQ: WBA) was the biggest-name company reporting its latest financials, and its performance left shareholders feeling uncertain about the drugstore chain giant's future. Meanwhile, shares of Vipshop Holdings (NYSE: VIPS) moved more sharply higher after some favorable news for investors.