Atour Lifestyle Holdings Limited

Ladies and gentlemen, thank you for standing by and welcome to the Ator Lifestyle Holdings second quarter 2026 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a Q&A session. Today's conference is being recorded. I would now like to turn the conference over to Mr. Luke Hu, IR Director. Please go ahead, sir.

Thank you, operator. Good morning and good evening, everyone. Welcome to our second quarter 2026 earnings conference call. Today, you will hear from our founder, chairman, and CEO, Mr. Wang Haijun, and our EVP co-chef, Mr. Wu Jianfeng. Before we continue, please be aware that today's discussion will include forward-looking statements and federal securities laws. These statements are subject to various risks and uncertainties. and the actual results may differ significantly from what is stated or implied in our comments today. The company is not obligated to update any forward-looking statements, except as required by applicable laws. Additionally, during this call, our management will discuss certain non-GAAP financial measures solely for comparison purposes. For a clear understanding of these measures and a reconciliation of GAAP to non-GAAP financial results, please refer to the earnings release issued earlier today. Furthermore, a webcast replay of this conference call will be accessible on our website at ir.yaduo.com, where a copy of the results presentation is also available. Now, I will turn the call over to Mr. Wang, our CEO.

Thank you, Luke. Hello, everyone. Thank you for joining Ator's second quarter 2026 earnings call today. Comprehensive products and services continue to be suppressed, while companies with experience and brand value show stronger resilience. Specifically, the hotel industry is experiencing a change from expanding to high-quality development.