Trip.com Group Limited

Good day and thank you for standing by. Welcome to Trip.com Group 2024 Q2 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 a session, you'll 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. I would now like to hand the conference over to your speaker today, Michelle T, Senior IR Director. Please go ahead.

Thank you, Mati. Good morning. and welcome to CryptoCom Group's second quarter of 2024 earnings conference call. Joining me today on the call are Mr. James Leung, Executive Chairman of the Board, Ms. Jen Sun, 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 CryptoCon Group's public filings with the Security and Exchange Commission. TRIP.com Group does not undertake any obligation to update any forward-looking statement, except as required under applicable law. James, Jen, and Cindy will share our strategy and business updates, operating highlights, and financial performance for the second quarter of 2024, as well as outlook for the third quarter of 2024. 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. And thanks, everyone, for joining us on this call today. Before we proceed further, I would like to highlight that today marks a significant step towards innovation in our approach. In a departure from traditional presentations, we are leveraging AI to facilitate our discussion. Through my digital twins, I am pleased to present to you 1. The latest travel trends and developments in the market and 2. Our AI innovations and the business progress we have made so far. Building on the momentum from a robust first quarter, we are delighted to report continued growth across all segments in the second quarter, especially for cross-border travel. In the second quarter, outbound travel remained popular and continued to drive growth in the travel market, with strong interest in popular APAC destinations like Japan and Thailand. Major international events such as the European Soccer Cup and the Olympics have also attracted a diverse array of travelers to Europe. extending travel distances and enriching cultural experiences. Interestingly, our AI-powered trip trends data reveals that the introduction of new flight routes can significantly increase travelers' interest in those specific destinations. Over the past three months, we have observed that new flight routes have doubled or more than doubled search volumes for the corresponding destinations. Simultaneously, inbound travel to China has seen remarkable growth in the first half of 2024 with a 150% year on year increase. Notably, visitors from visa-free countries have surged by an impressive 190% over the same period. As international travelers explore the diverse landscapes of China and Chinese travelers venture to overseas destinations, the demand for tailored inspirations and personalized recommendations is growing. Common questions about must-do activities, must-try bites and must-visit attractions highlight the need for reliable guidance. We strive to leverage AI to provide users with fresh and trendy options, empowering them to plan less and travel more. Powered by large language models, we can analyze vast amounts of data to understand individual preferences, respond to contingencies with adaptive recommendations, and deliver customized itineraries that resonate with each traveler's unique interests. In June, we unveiled our AI-powered 2024 Trip Best Global and Asia 100 lists, which are based on real user reviews and year-round sales popularity. These lists enable travelers to select the best experiences a destination has to offer, including not only hotels and attractions, but also lifestyle choices such as restaurants and nightlife. Furthermore, our Trip Trends lists track the hottest travel topics and events, revealing the latest travel trends based on user searches. These trends indicate that more individuals are now directing their discretionary income towards enriching travel experiences and premium services. For example, according to Trip Trends, the Ancient Egyptian exhibition in Shanghai has been China's top attraction for the past three months. Adding a playful twist to the experience, we introduced a unique visit with your cat ticket, available exclusively on our platform, allowing visitors to bring their feline friends to see the cat mummies. By making trip planning easier and more enjoyable, we enhance customer satisfaction, foster loyalty, and encourage repeat visits. These improvements ultimately drive growth and innovation within the travel industry. In conclusion, travel demand remains resilient as the enduring human desire to explore makes travel a lifelong pursuit for many. As we look to the future, AI stands ready to revolutionize the travel industry, offering unparalleled opportunities to inspire new journeys, enhance user experiences, and boost operational efficiency. We are committed to harnessing the power of AI and unlocking its full potential, ensuring we deliver exceptional value and continuous innovation to meet the evolving needs of our customers. With that, I will turn the call over to Jane for operational highlights.