Core Viewpoint - Citigroup's research report indicates that the tourism performance during the Dragon Boat Festival in mainland China was relatively weak, maintaining a "Buy" rating for both Trip.com and Tongcheng Travel [1] Industry Summary - During the Dragon Boat Festival holiday on June 3, tourism volume and industry revenue in mainland China increased by 5.7% and 5.9% year-on-year, respectively [1] - Domestic passenger traffic rose by 2.5%, with rail and air travel increasing by 4.3% and 1.7%, respectively [1] - Cross-border travel volume grew by 2.7%, while visa-free entry increased significantly by 59.4% [1] Company Summary - The data for outbound and domestic travel showed some weakness, attributed to rainfall in the Yangtze River Delta and the proximity of this year's Dragon Boat Festival to the May Day holiday [1] - The inbound travel momentum remains strong, benefiting Trip.com Group (09961.HK), which saw a robust performance in family travel demand, with family-related orders accounting for 25% of total orders [1] - The overlap of Children's Day and the Dragon Boat Festival led to nearly a 90% increase in inbound travel orders for Trip.com [1] - Tongcheng Travel (00780.HK) also observed significant growth in family travel-related order volume [1] - Citigroup set a target price of $78 for Trip.com and HKD 26 for Tongcheng Travel, both maintaining a "Buy" rating [1]