My name is Jerry Peng. I graduated from Darden School, class 2003. I've been in the finance area for nearly 20 years. I did corporate finance, corporate banking, sales trading and investment banking, all around the finance. Starting in early 2013, I've been working on this unique green technology venture project in the U.S., the company's called Tranlin, Inc., and I'm the founder. I serve as the Chairman of the Board and the CEO of the company. I think it's a unique example for the next wave of Chinese entrepreneurship. We say the future of the Chinese economy will be driven by three buzz words, there's sustainability, innovation and entrepreneurship. In my view, Tranlin, Inc., is a perfect example, and it's a showcase of the combination of all three drivers. What we do, Tranlin, Inc., is applying the best innovative technology from China, patent protected and the parent company Shandon Tranlin in China has more than 220 patents. All around making eco-friendly and safe paper tissue products from straw, purely from waste straw from corn stalk. We say it's tree free and bleach free and that it's very nice for the consumers because it's free and you don't have all these harmful chemicals. You save all the forest, too. All the tissue will be biodegradable, it will break down the nature in a short period of time and the better part is then we convert the residue into what we call human-based organic fertilizer. The waste water coming out from the process is the best in both the paper industry and the fertilizer industry. In a sense, we are going to reinvent not just the paper industry, but also, potentially transform the farm industry. It's a venture, so we're very excited to bring this technology from China to the U.S. and we're working with all the best talent in the U.S. market to build this venture. Tranlin, Inc., it's a U.S. company. It's Delaware incorporated and we target to do a U.S. IPO when this project is completed. When we think through the strategy for such a massive project, I like to use the Darden framework, we call three pillars of entrepreneurship and I actually added the fourth pillar. The first pillar, we say it's product, the second pillar is around the brand, the third pillar is around the finance and the last pillar is around the public relations. At the core of all these pillars, I would say it's people strategy. This is very unique project, we are applying the best environmental technology from China and we're also bringing some of the best talent from China. But meanwhile, I see the U.S. right now is the world's leading economy, the leading consumer market, and the leading farming country. There are a lot of gaps to breach. The way we describe this challenge and our solution all around is that we constantly talk about the importance of building team and building culture. We believe building a great culture is the key to all the elements. You have the four pillars and each pillar will have, I would say from three to like five pieces all around. In that sense, it's a lot more comprehensive and complicated challenge in terms of strategy and the strategy is all about focus. When we formulate and try to execute a strategy, to me, particularly as the CEO, the number one challenge is to prioritize at any specific occasion and on any specific day. In a sense, we can even say each day the priority is slightly different, particularly in a joint startup situation. You have to jump around, make sure every ball is rolling and meanwhile, you don't let go the key strategy, or key focus. It's really about building culture. In a sense I used to work for both my American team members and also my Chinese partners. I say we are joined venture culture. It's all around a joined venture culture. We constantly say we are 80% American culture and 20% Chinese culture. By saying that, I tried to communicate to, not just the team, the stakeholders, but the entire community. First, this is an American Company. It's a venture in the U.S., and it's a Delaware company and hopefully, we'll become a public traded company very soon. We will encourage the community to participate and the support and to benefit from this venture all around. That's why we say it's 80% American culture, so you have all, I think, the important, good qualities your familiar with it here. We value integrity, transparency, communication, over communication, efficiency, respect to each other, all these. But also, I constantly remind the team, we want to bring potentially, some of the best parts of the Chinese culture into this venture and right now, we are constantly talking about two points just to make it easy. The very first point, I call it partnership culture. As you know, China had a long history, over thousands of years, we kind of developed a very long term driven mentality and we constantly talk about building a long term partnership, building win-win partnership. We don't really encourage the world of a transactional relationship, one-off relationship. Instead, we're really looking at building long term partnership and that's all around, it's within the team. It's between the U.S. team and China team. Also, that's our guiding principle for most of our business dealings, which the community, which the stakeholders are around. The second part, we'll use the word, Chinese modesty. I think there is some subtle difference, sometimes between the Chinese business culture and American business culture. We just remind the team to consciously try to bring some Chinese modesty. The other way to say it is, we say, when it comes to business strategy and the execution, we want to be as aggressive as possible, be as high profile as possible. But when it comes to personality and treating each other, we want to be as modest as possible and as low profile as possible. Particularly, given such a trying to a startup situation, I believe embedding the Chinese modesty into our corporate culture, will help to minimize each other's ego, to minimize the chance of friction and maximize over communication, building trust, building synergy and building collaboration. I think that's the essence of the cultural and the culture we're trying to be is the essence and it's the key driver of our strategy.
