Operator

Good day, and thank you for standing by. Welcome to H World First Quarter 2026 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I'll now hand the conference over to your first speaker today, Ms. Ivy Luo, Head of Investor Relations. Please go ahead.

Ivy Huili Luo

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, Mr. Chen Hui; and our CFO, Ms. Junrui Yu. 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 Securities 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 SEC.

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 GAAP information can be found