Tongcheng Travel Holdings Limited

Thank you for standing by. Welcome to Tongchun Travel 2025 First Quarter Results Announcement. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your host today, Ms. Kylie Yeung. Thank you. Please go ahead.

Thank you. Good morning and good evening, everyone. Welcome to Tongchuan Travels' 2025 First Quarter Results Conference Call. I'm Kylie Yeung, Investor Relations Director of the company. Joining us today on the conference call are our Executive Director and CEO, Mr. Ho Ma, our CFO, Mr. Julian Fei, and our Chief Capital Officer, Ms. Joyce Lee. For today's call, our management team will provide a review of the company's performance in the first quarter. Hope will brief us on the company's strategies. Joyce will discuss our business and operational highlights. And then Julian will address the details of financial performance accordingly. We'll take your questions during the Q&A session that follows. As always, our presentation contains forward-looking statements. Such statements are based on management's current expectations and current market operating conditions. and relate to events that involve known or unknown drift, uncertainties, and other factors, which may cause the company's actual results, performance, or achievements to differ from those in the forward-looking statements. This presentation also contains some unaudited non-IFRS financial measures. They should be considered in addition to, but not as a substitute for measures of the company's financial performance prepared in accordance with IFRS. For a detailed discussion of non-IFRS measures, please refer to our disclosure documents in the IR section of our website. Now, let me introduce our CEO, Hope. Hope will be presenting in Mandarin, and our colleague will provide the English translation afterwards. Hope, please go ahead.

Thank you, Karen. Good evening, everyone. Welcome to the first quarter of our phone conference in the same city in 2025. In the first quarter of 2025, China's tourism industry continued to grow steadily. The domestic tourism market is constantly growing hot. Under the leadership of the company's overall strategy, we grasp the golden opportunity of market growth, continue to deepen the domestic market and accelerate the deployment and promotion of business. We actively extend the industry chain in the middle direction and expand the business boundary horizontally, build an ecosystem that covers the entire scene of tourism, further consolidate and expand the market advantage. In the face of the era of rapid market change, we are committed to technology development, and we will integrate technology applications into the industry, constantly improving service quality and efficiency. Based on the company's years of experience in the industry, rich cultural supply chain resources, and deep data base, we will continue to accelerate the upgrade of AI products, and further enhance user experience and assist industry development. Since entering the second quarter, we have noticed that the activity of the entire tourism industry during the holiday period is extremely high, and the needs of all kinds of users continue to rise. At the same time, the Chinese government continues to strongly support the development of tourism, promoting the construction of tourism technology facilities, and improving the quality of clothing, encouraging cultural integration and innovation, assisting tourism to transform and upgrade, and creating a good environment for the development of tourism industry. As the leading platform of the industry, We are in the wave of high-quality development, both grasping the opportunity to upgrade the industry and facing the innovative challenges brought about by the transformation of consumer demand. In terms of user operation, we focus more on increasing the value of users and the competitiveness of technology. At the same time, we expand international business, deeply dig into market needs, and promote the rapid growth of advanced business, and continue to expand the coverage range of overseas markets. We are very optimistic about the long-term development of Chinese tourism industry, By continuing to deepen the layout on the industry chain, we will enhance our own competitive advantage. In mid-April this year, we announced the acquisition of Wanda Hotel Management Company, which is looking forward to the growth potential of the Chinese hotel management market. This acquisition will further enhance our influence on the industry chain and assist the company's long-term development. We will continue to create long-term value for interest-related people, make contributions to the high-quality development of the tourism industry, and achieve sustainable development. Good evening, everyone.