Trip.com Group Limited

Thank you for standing by and welcome to the TRIP.com Group 2021 Q1 Earnings Conference Call. All participants are in a listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Michelle Key, Senior IR Director of TRIP.com Group. Please go ahead. Thank you.

Good morning, everyone, and welcome to Crypto.com Group's 2021 Q1 Earnings Conference Call. Joining me today on the call are Mr. James Lam, Executive Chairman of the Board, Ms. Jen Sam, Chief Executive Officer, and Ms. Cindy Wong, Chief Financial Officer. During this call, we will discuss our future outlook and performance, which are forward-looking statements made under the safe harbor provision of the U.S. 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 Trip.com Group's public filing with the Security and Exchange Commission. Trip.com Group does not undertake any obligation to update any forward-looking statements, except as required under applicable law. James, Jen, and Cindy will share our strategy and business updates. operating highlights and financial performance for the first quarter of 2021, as well as outlook for the second quarter of 2021. After the prepared remarks, we will have a Q&A session. With that, I will turn the call over to James. James, please.

Thank you, Michelle. Thank you, everyone, for joining us on the call today. Due to China's successful containment of the pandemic, The recovery of China's domestic travel market continues to show momentum. The border is still shut. Many have turned to domestic travel, to high-quality scenic spots and destinations. During the May Day holiday, approximately 230 million trips were made by tourists domestically, representing a 3% increase compared to the same period in 2019 before COVID, setting new all-time high for the holidays on our platform long distance travel across provinces in mainland china has made a full recovery and short distance local travel continues its strongest growth trajectory chips.com chip.com group submission is to pursue the perfect trip for a better world throughout the past two decades we have continuously exploring and innovating to further improve our offerings. We have established a leading global one-stop travel platform where users can easily find comprehensive products with reliable services and guarantees and differentiated travel content, or reachable within a few taps of mobile applications. Following the strong recovery of China's domestic travel market, we have successfully launched our second listing secondary listing in Hong Kong in April. This marks a milestone in our development from which we embarked on a new journey. Currently, our market share in China's domestic market is only in mid-teens, while global market share is still in the low single digits. We're excited for the potential of our growth. Going forward, we'll continue to focus on the following major areas to sustain the group's long-term development as well as bringing new value to the industry. First, continue to improve our power offerings and service quality. We'll be pushing ahead with more in-depth tour projects to meet the evolving needs of the post-pandemic travelers. While strengthening collaboration and cross-skills between business lines to provide a comprehensive yet hassle-free one-stop travel experience. Second, use content-oriented innovation to engage users and stimulate travel. We will continue to see Trip.com group transform from solely purchasing platforms to hubs of travel inspiration, hosting the best travel deals. By hosting more comprehensive travel content, such as live streaming, enhanced information feeds, and short videos, we are able to ignite greater interest in travel and facilitate new trends, such as significant increase in short-distance travel and trips to long-haul destinations in the past year. Third, foster a content ecosystem with our travel marketing hub, StarHub, as a centerpiece to boost our partners' marketing capability on our platform. Starhub functions as a flagship store for our partners, where they are able to integrate differentiated travel content and a wide variety of tailored product offerings, drive huge traffic volume, and develop exposure with enhanced promotions, thereby bolstering their brand image and boosting customer engagement. Fourth, maintain and expand our global perspective Every maneuver and initiative we've tested and proved successful in our domestic market is a new valuable asset for global development. We are putting this advantageous position to use in our preparation for the coming global travel recovery. Progressing in these areas will require investments in technology and R&D as a driver for efficiency and growth. We believe our investments will create long-term value not only for our users, but also for our shareholders, the travel industry, and society as a whole. We want to thank our users for their loyalty and trust, our business partners for their understanding and support, and our more than 30,000 employees around the world for their hard work and commitment to customers and partners during such a difficult time. They are the ones driving us to greater success. With that, I will turn the call over to Jane operating highlights.