Core Viewpoint - Trip.com Group Limited will announce its financial results for the first quarter of 2025 on May 19, 2025, after market close [1] Group 1: Financial Results Announcement - The financial results will cover the three months ended March 31, 2025 [1] - The announcement will be followed by a conference call at 8:00 PM U.S. Eastern Time on the same day [2] - The conference call will be available via live webcast and will be archived for twelve months [2] Group 2: Conference Call Details - Participants must pre-register to join the conference call [2][3] - Upon registration, participants will receive dial-in numbers and a unique access PIN [3] Group 3: Company Overview - Trip.com Group Limited is a leading global one-stop travel platform, offering a comprehensive suite of travel products and services [4] - The company operates under various brands, including Ctrip, Qunar, Trip.com, and Skyscanner [4] - Founded in 1999, the company was listed on Nasdaq in 2003 and on HKEX in 2021 [4]

Group 1: Overall Market Trends - The recent "May Day" holiday saw a significant increase in tourism, with the cultural and tourism market reaching a three-year high [1][3] - Online travel platforms reported a 30% increase in travel orders compared to the same period in 2023, with inbound travel orders soaring by 130% [1][2] - The trend of extending holidays or "taking 4 days off and resting for 11" has become more pronounced, leading to longer travel periods [1][6] Group 2: Travel Preferences and Destinations - The "拼假游" (拼假 travel) trend has led to a 30% increase in travelers utilizing annual leave combined with public holidays, with hotel bookings spanning 1,837 cities globally [2][4] - Long-distance travel destinations such as Qinghai, Xinjiang, and Ningxia saw ticket sales increase by 100-200% year-on-year [2][4] - The popularity of "反向游" (reverse travel) has emerged, with hotel bookings in 1,230 counties increasing by 30%, primarily driven by residents from first and new first-tier cities [4][5] Group 3: Culinary Tourism and Cultural Events - "Taste travel" has gained traction, with many tourists exploring local cuisines, leading to a surge in restaurant traffic in smaller cities [3][6] - Over 23 music festivals took place nationwide during the holiday, contributing to a 40% increase in ticket bookings for scenic spots [3][6] - The combination of cultural events and tourism has proven to be a significant driver of consumer spending during the holiday [3][6] Group 4: Consumer Behavior and Experience - There is a growing demand for diverse and engaging travel experiences, with preferences shifting towards unique activities such as island vacations and cultural immersion [6][7] - The data indicates a transition in tourism consumption from "scale expansion" to "quality upgrade," highlighting a strong market demand for differentiated experiences [6][7] - The travel enthusiasm from the "May Day" holiday is expected to extend into the following weekend, as more travelers opt for post-holiday trips [7]

Core Insights - The domestic cultural tourism market is experiencing a strong recovery during the May Day holiday in 2025, shifting from "scale expansion" to "quality upgrade" with a rising demand for differentiated experiences [1][3][5] Group 1: Market Trends - Popular travel destinations during the May Day holiday include Beijing, Shanghai, Hangzhou, Guangzhou, Chengdu, Chongqing, Nanjing, Wuhan, Shenzhen, and Xi'an, with Jiangsu showing significant growth in hotel and flight bookings, up 12% and 76% year-on-year respectively [1] - The rise of niche markets such as family travel and pet-friendly trips is evident, with family-oriented hotel bookings in Inner Mongolia and Shanxi increasing over 100% [3][5] - The integration of culture and tourism is a prominent trend, with searches for intangible cultural heritage-themed tours surging, leading to a 132% increase in related ticket bookings [5][10] Group 2: Consumer Behavior - The demand for rural and county tourism is growing, with bookings for rural trips increasing nearly 20% and occupancy rates for certain rural resorts exceeding 90% [7][9] - The younger demographic, particularly university students aged 19-22, shows a 30% increase in purchasing their first flight tickets, while the "new silver-haired" group has a 43% increase in hotel bookings, focusing on quality and emotional value [3][10] Group 3: Inbound Tourism - Inbound tourism is rebounding strongly, with a 130% year-on-year increase in orders during the May Day holiday, particularly in cities like Shanghai, Shenzhen, and Guangzhou [10][11] - The demand for local food experiences among foreign tourists has surged, with related orders increasing 6.8 times compared to the previous year [11] Group 4: Travel Preferences - Diverse travel methods are gaining popularity, with significant increases in self-driving, free travel, and private group bookings, as evidenced by a 24% rise in per capita car rental spending [12][14] - Train and flight bookings for domestic travel during the May Day holiday have also seen notable growth, with train ticket bookings up 10% and flight bookings up 25% year-on-year [14][16]

Group 1 - Trump authorized a 100% tariff on movies made abroad to attract the film industry back to the US [3] - Taobao's flash purchase service surpassed 10 million orders within 6 days of launch, significantly boosting delivery services [5][6] - National retail and catering sales during the May Day holiday increased by 6.3% year-on-year, with strong demand for trade-in programs [5][7] Group 2 - Xiaomi's Lei Jun transitioned from executive director to director, with the company expanding its business scope [7] - Major retail sectors, including home appliances and automobiles, saw sales growth of 15.5% and 13.7% respectively during the holiday [7][6] - WeChat payment usage increased by 10% during the May Day holiday, with the restaurant sector seeing a 12.3% rise [10] Group 3 - Waymo's autonomous taxi was stopped by police in Tokyo, highlighting the ongoing human oversight in its testing phase [10] - Microsoft announced the discontinuation of Skype, urging users to migrate to Microsoft Teams [12] - Volvo's NOVO Energy plans to cut nearly 50% of its workforce due to restructuring after a partner's bankruptcy [14] Group 4 - OpenAI is transitioning its for-profit entity to a public benefit corporation to better align with its mission [16] - Skechers agreed to be acquired by 3G Capital for $63 per share, with the deal expected to close in Q3 [16] - Saudi low-cost airline Flynas is preparing for an IPO, aiming to sell 30% of its shares [16][17] Group 5 - The May Day box office reached 740 million, with top films generating significant revenue [21] - Ctrip reported a 130% increase in inbound travel orders during the May Day holiday, indicating a strong recovery in the tourism sector [21][22] - High-star hotel bookings in county areas surged by 80% during the holiday, reflecting changing travel preferences [22]

Group 1 - The tourism market in Henan is experiencing significant growth during the 2025 "May Day" holiday, with a 30% increase in travel orders on Meituan compared to 2023 [1] - The top ten popular destinations include Nanjing, Xi'an, Chengdu, Beijing, Chongqing, Changsha, Luoyang, Wuhan, Shanghai, and Guangzhou, with a remarkable 189% increase in online dining transactions from non-local tourists [1] - Local specialty dishes have become a major attraction, with over 105% year-on-year growth in dining orders for local cuisine from non-local tourists on Meituan [1] Group 2 - The demand for personalized and diverse travel experiences is high among younger travelers, with 45% of travel orders during the holiday coming from those born after 1995 [2] - Major sources of tourists to Henan include Beijing, Shanghai, Wuhan, Xi'an, and Tianjin, with a 98% year-on-year increase in inbound travel orders on Ctrip [2] - The implementation of visa-free policies has boosted international tourism, with significant growth in inbound orders for Zhengzhou, Kaifeng, and Luoyang [2] Group 3 - The overall tourism consumption in Henan is expanding beyond tickets and hotel bookings, with a 24% increase in per capita car rental spending on Ctrip, indicating a preference for self-driving travel [3] - Car rental orders on Fliggy increased by over 50% during the holiday, reflecting a trend towards self-driving tourism [3] - The tourism market's heat has reached a three-year high, driven by various new festival activities that enhance holiday consumption [3]

华夏时报（www.chinatimes.net.cn）记者 王潇雨 北京报道 国家移民管理局发布的数据显示，4月30日至5月3日，北京口岸入出境外国人数量达6.9万人次，较2024年同期增 长52.1%，主要入境事由为旅游、探亲、商务。5月1日至3日，广州边检总站各口岸出入境客流达15.4万人次，同 比增长23%，单日客流峰值达5.6万人次。四川边检总站数据显示，今年截至5月3日，从成都口岸免签入境外国人 达16万人次，办理24/240小时过境免签手续2.3万余人次，5.1万余人次直接过境免办边检手续。 自2023年中国逐渐加快出入境开放的节奏以来，目前已经有近四十个国家获得单方面免签待遇，中国也与超过二 十个国家实现互免签证，同时还通过包括停留时间长达240小时的过境免签以及部分区域性免签政策便利了外国游 客，助推了"China Travel"的全球热潮。 在线旅游服务平台同程旅行方面表示，清明假期后到"五一"假期前，中央周边工作会议的召开，以及一系列重要 外交活动的开展，为"五一"假期的出入境旅游市场打开了新局面。同程旅行数据显示，"五一"假期，排名前十位 的热门出境游目的地和入境游客源地中，都可以看到越 ...

Core Viewpoint - The travel market in China is experiencing a strong recovery during the "May Day" holiday, with significant growth in both domestic and inbound tourism, driven by new consumer behaviors and policies [2][4][5]. Group 1: Domestic Travel Trends - Domestic tourism shows a "multi-point blooming" trend, with ticket sales for scenic spots in Qinghai, Xinjiang, and Ningxia increasing by 100% to 200% year-on-year [2]. - Family travel and pet-friendly trips are both on the rise, indicating a dual demand in the market [2]. - The self-driving travel market is witnessing a 24% increase in per capita car rental spending compared to last year, with an average rental duration extending to 4 days [4]. - Popular self-driving destinations include Chengdu, Sanya, and Urumqi, with cross-city self-driving becoming mainstream [4]. Group 2: Inbound Tourism Growth - Inbound travel orders surged by 130% year-on-year during the "May Day" holiday, with cities like Shanghai, Shenzhen, and Guangzhou emerging as popular destinations [5][6]. - Cultural experiences and diverse activities are key attractions for foreign tourists, with local food experiences seeing a 6.8 times increase in orders compared to the previous holiday [5]. - The introduction of policies such as tax refunds and visa exemptions has stimulated a new model of tourism combined with shopping, significantly boosting inbound travel orders [6][7]. Group 3: Policy Impact - Recent policy changes, including lowering the threshold for tax refunds from 500 yuan to 200 yuan and increasing the cash refund limit from 10,000 yuan to 20,000 yuan, are expected to enhance the purchasing power of inbound travelers [7].

Group 1 - The core viewpoint of the article highlights a significant resurgence in inbound tourism during the "May Day" holiday, with a 130% increase in inbound travel orders, and "China shopping" becoming a new trend for foreign tourists [1][3][4] - The domestic tourism market is experiencing a strong recovery, with various destinations like Qinghai, Xinjiang, and Ningxia seeing ticket sales surge by 100-200% year-on-year [1][2] - The self-driving travel market is expanding, with a 24% increase in per capita car rental spending and a high percentage of 85% for out-of-town self-driving orders [2][3] Group 2 - Cultural experiences and diverse activities are key attractions for foreign tourists, with local food experiences seeing a 6.8 times increase in orders compared to last year [3] - The implementation of policies such as 240-hour visa-free entry and shopping tax refunds is significantly boosting inbound tourism [4][5] - Popular inbound travel destinations include major cities like Shanghai, Shenzhen, and Guangzhou, with notable increases in hotel bookings from foreign travelers in cities like Zhuhai and Qingdao [4][5]

携程发布报告显示，今年"五一"假期，国内文旅市场强势复苏，呈现"多点开花"态势。长线游目的地表 现亮眼，青海、新疆、宁夏等地景区门票销售额同比激增1-2倍；亲子家庭与携宠出游"双线并进"；自 驾游市场"量价齐升"；邮轮游强势回归，携程预订量同比飙升120%；国潮文化深度赋能旅游，古镇流 量激增超30%；"反向旅游"带火乡村游，新疆民宿预订提前两月入旺季。此外，入境游订单同比激增 130%，农耕体验、"中国购"成外国游客打卡新方式。 ...

Core Insights - The domestic cultural and tourism market in China is experiencing a strong recovery during the "May Day" holiday, showcasing a "blossoming" trend across multiple regions [1] Group 1: Travel Trends - Long-distance travel destinations are performing exceptionally well, with ticket sales for scenic spots in Qinghai, Xinjiang, and Ningxia increasing by 100% to 200% year-on-year [1] - Cruise bookings on Ctrip have surged by 120% compared to the previous year [1] - "Reverse tourism" is boosting rural travel, with bookings for homestays in Xinjiang seeing a significant increase two months ahead of peak season [1] Group 2: Inbound Tourism - Inbound travel orders have skyrocketed by 130% year-on-year, indicating a strong revival in international tourism [1] - Agricultural experience and "China Shopping" have become popular new activities for foreign tourists [1]