H World Group Limited

Good day and thank you for standing by. Welcome to H-World First 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 question and answer session. To ask a question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. And I'll hand the conference over to your first speaker today, Ms. Ivy Luo, Head of Investor Relations. Please go ahead.

Thank you, Operator. Good morning and good evening, everyone. Thanks for joining us today. Welcome to H-World's first quarter 2026 earnings conference call. Joining us today is our Founder and Executive Chairman, Mr. Ji Qi, our CEO, Mr. Jin Hui, our CFO, Mr. Arthur Yu, our COO, Ms. Chen Hui, and our CSO, Ms. He Ji Hong. Following our prepared remarks, management will be available to answer your questions. Before we continue, please note that the discussion today will include forward-looking statements made under the Safe Harbor provision. of the United States Private Security Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, our results may be materially different from the views expressed today. A number of potential risks and uncertainties are outlined in our public filings with the H-World Group does not undertake any obligation to update any forward-looking statements except as required under applicable laws. On the call today, we will also mention adjusted financial measures during the discussion of our performance. Reconciliation of those measures to comparable gap information can be found in our earnings relief that was distributed early today. As a reminder, this conference call is being recorded. The webcast of this conference call, as well as supplementary slide presentation, is available at ir.hworld.com. With that, now I will hand over the call to our CEO, Mr. Jin Hui, to discuss our business performance in the first quarter of 2026.

Mr. Jin, please. Dear investors and analysts, good day. Thank you for joining us for the first quarter of 2026 earnings call. In 2026, China's domestic travel demanded solid momentum.