Michelle Qi | Senior Director |
James Liang | Executive Chairman |
Jane Sun | Chief Executive Officer |
Cindy Wang | Chief Financial Officer |
Alex Yao | J.P. Morgan |
Thomas Chong | Jefferies |
Ronald Keung | Goldman Sachs |
Binnie Wong | HSBC |
Jed Kelly | Oppenheimer |
James Lee | Mizuho |
Natalie Wu | Haitong International |
Alex Poon | Morgan Stanley |
Brian Gong | Citigroup |
Tian Hou | T.H. Capital |
Thank you for standing by, and welcome to the Trip.com Group 2020 Q4 Earnings Conference Call. All participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to Michelle Qi, Senior Director. Please go ahead.