Trip.com Group Limited

Thank you for standing by and welcome to the Trip.com Group 2021 Q2 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 1 on your telephone keypad. I would now like to hand the conference over to Michelle Chee, Head of Investor Relations. Please go ahead.

Thank you. Thank you all. Good morning and welcome to CryptoCon Group's 2021 Q2 earnings conference call. Joining me today on the call are Mr. James Lim, Executive Chairman of the Board, Ms. Jane Sung, 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 provisions 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 CryptoConf's groups public filings with the Securities and Exchange Commission. CHIP.com Group does not undertake any obligation to update any forward-looking statements, except as required under ethical law. Jim, Jen, and Cindy will share our strategy and business updates, operating highlights, and financial performance for the second quarter of 2021, as well as some outlook color for the third 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. Overall speaking, the Chinese domestic travel market was encouraging this quarter. We have witnessed a strong recovery momentum with pent-up demand unleashed following the relaxation of travel restrictions. Despite the regional and temporary impact of COVID reasserts, overall travel activities in the country continue along the growth trajectory. The vaccination rate in China is still ramping up. More than a billion Chinese citizens are now fully vaccinated. With a larger vaccinated population, we are confident to anticipate a more stable momentum in travel demand. During the past quarter, we continue to dive deep into the Chinese domestic market to meet the evolving needs and demands of domestic travelers. We continue to make good progress in major focus areas such as content, product, service technology, and supply chain. Jane will share more details on this in her section. We are delighted to embrace the recent regulatory changes in our domestic market as we believe they will favor fair competition, and promote innovation in the industry. This could help foster a sustainable and healthy market for banks. Trip.com Group has long benefited from an organized and regulated environment to cultivate our growth in an efficient manner over the past 22 years. We proactively communicate with the authorities and abide by the rules. We believe the new regulations will benefit all players in the industry. Trip.gov group also pledged to give back more to the society to heed the government's call for common prosperity. Over the past quarter, we launched a five-year rural revitalization initiative to boost local tourism and support low-income communities. The initiative aims at building 10 country retreats of five-star hotel quality, empowering 100 rural villages, and training 10,000 rural tourism talents for the industry. We believe rural tourism is a golden key to open the door to rural revitalizations. Camp Now Come Group country retreats will serve as an example and benchmark for future development of rural tourism, as well as attracting younger generations to return and to create social values in their hometown. On the international front, many countries also embarked on a transition towards normalcy. As we see rising vaccination rates and more favorable policies in place to facilitate travel, there's no doubt travel and tourism is getting back on track. We have established a leading position in the Asia-Pacific market with strong China outbound travel in the past years. Following our local-focused global vision strategy, we have continued to strengthen our product competitiveness in Europe over the past few years, on top of strong synergy between ScanScanner and CryptoTel in Asia markets. The size of air ticket booking markets in Europe is close to that in the Asia Pacific. Together, they account for about 50% of world total air travel, With our strategic layout in both Asia Pacific and Europe, we see a lot of potential in the global air ticket booking market. I've also seen emphasis on both globalization and the domestic development. Such a dual circulation strategy will help fortify CryptoCom's group's resilience in the face of pandemic challenges. Going forward, we'll continue to be adaptive and responsive to the changing market conditions and evolving demands of post-pandemic travelers. As we have mentioned in the previous quarters, we will continue to leverage our content to inspire travelers and to leverage our supply chain to provide users with the most appealing product choices. All these offerings are backed by our ever-improving product capabilities and service quality. It is our mission to bring forth the most enjoyable booking experience. We can see the value as we exceed the needs and demands of our customers. With that, I'll turn the call over to James for a brief comment.