Trip.com Group Limited

Welcome to Trip.com Group's 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 question and answer session. To ask a question during the session, you will need to press star 1 1 on your telephone keypad. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star, one, one again. Please be advised that today's conference call is being recorded. I would now like to hand the conference over to your first speaker today, Michelle Qi, Senior IR Director. Please go ahead.

Thank you. Good morning and good evening. Welcome to TripleCom Group's second quarter of 2026 earnings conference call. Joining me today on the call are Mr. James Liang, 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 inherit 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 filings with the Security and Exchange Commission. Trip.com Group does not undertake any obligation to up any forward-looking statement, except as required under applicable law. James, Jen, and Cindy will share their strategy and business updates, operating highlights, and financial performance for the second quarter of 2026, as well as some outlook for the third quarter of 2026. After the prepared remarks, we will have the Q&A session. With that, I will turn the call over to James. James, please.

Thank you, Michelle, and thanks everyone for joining us today. The global travel industry faced a more challenging operating environment this quarter. Macroeconomic and geopolitical uncertainties continued to create volatility across markets. Elevated fuel prices and airfares increased the cost of travel and weighed more heavily on longer-haul demand. Despite these pressures, travelers' appetite for exploration remained resilient, with demand shifting toward shorter-haul destinations. We believe these near-term dynamics do not change the long-term trajectory of global travel. Travel remains a fundamental consumer need, and global connectivity continues to expand as travelers seek higher quality, more personalized experiences. Against this backdrop, our strategic priorities remain clear. Globalization and great quality continue to anchor our long-term growth. Globalization represents a significant structural opportunity. We are particularly bullish on the long-term potential of inbound travel. China offers an unparalleled breadth of destinations, culture, and experiences. We believe inbound travel remains well below its full potential and is entering an important phase of structural growth. To capture this opportunity, we have committed to accelerating the development of inbound travel. We will invest to build a stronger inbound travel ecosystem, empower local partners, and make the country more accessible to travelers around the world. Capturing this opportunity requires more than expanding our global reach. It also requires us to compete on the quality of the products and experiences we deliver. This is the second pillar of our G2 strategy, great quality. We believe travel growth will increasingly be defined by differentiated products, superior service and compelling value for travelers and partners. These are capabilities we have built over many years and they will become increasingly important as consumer expectations continue to evolve. We believe the industry is moving in the same direction, with competition increasingly centered on quality, value, and experience. This evolution is closely aligned with the direction of our G2 strategy, Technology is also reshaping the travel experience with AI rapidly transforming how consumers discover, plan and experience travel. We are advancing our proprietary AI capabilities across the travel journey, making travel more personalized, We are seeing growing evidence that AI is becoming an integral part of the travel journey. AI-assisted orders through TripGenie on Trip.com increased by approximately 400% year over year, and nearly 60% of TripGenie interactions are now booking-related, spanning hotels, flights, and attractions. These trends demonstrate that travelers are increasingly relying on AI Not only for inspiration, but also to make and fulfill travel decisions Importantly, we believe AI will make the underlying infrastructure of travel even more valuable AI may transform how travel is discovered but it does not eliminate the complexity of delivering travel. Every trip still depends on high quality supply, trusted information, real-time availability and pricing, transaction infrastructure, fulfillment and reliable service. These capabilities are built on deep industry relationships, technology and operational expertise and are difficult to replicate. Our long-standing investments in these capabilities position us well for this next phase. We will continue to combine the power of AI with our global travel infrastructure, making travel easier and better for consumers and creating greater value for our partners. Looking ahead, our confidence in the long-term opportunity has never been stronger. We are excited about this next chapter and remain firmly focused on building a stronger, more innovative, and more valuable global travel platform for travelers and partners around the world. With that, I will turn the call over to Jane for operational highlights.