In conclusion, with the arrival of the summer peak season, the travel industry is entering its busiest time. 2NEW is excited to meet the opportunity with more diverse products and higher quality services as we look forward to deliver strong value for our shareholders going forward.

Aug 6, 2024 / CEO / receipt, needs a key / Donald Wu, CEO | earnings call 2024-08-06 | transcript d6f693e7-00d6-4232-9a79-16d27f58b2ca | chars 6706-6988 | segment 6

In the second quarter, we continued to strengthen our in-house product development. Our new tour products maintained their high-quality service adding more destinations and new roads. In the second quarter, the transaction volume of new tour products increased by more than 40% year-over-year. The primary customer base for our new tour products are middle to upper-class customers, many of whom are senior travelers who value experience over price. Focusing on this group, we have continuously upgraded new tools, offering small groups, higher standards for accommodation and dining, and more local sightseeing and restaurant options. For some of our outbound products, we employ local tour guides who speak Chinese, providing a more authentic cultural experience for our guests. By providing a constantly excellent customer experience, new tour products help build a large base of high-quality repeat customers with a repurchase rate twice that of regular products. At the same time, we continue to partner with third-party suppliers who have made significant contributions to diverse our products and destinations, especially for outbound travel markets.

Aug 6, 2024 / CEO / receipt, needs a key / Donald Wu, CEO | earnings call 2024-08-06 | transcript d6f693e7-00d6-4232-9a79-16d27f58b2ca | chars 2635-3792 | segment 2

During the second quarter, our live streaming channels maintained triple-digit growth, and the transaction volume of our offline stores increased over 80% year-over-year. Additionally, we collaborated with Jingdong Travel Alipay transport, and others to boost the sales of other travel-related products.

Aug 6, 2024 / CEO / receipt, needs a key / Donald Wu, CEO | earnings call 2024-08-06 | transcript d6f693e7-00d6-4232-9a79-16d27f58b2ca | chars 4462-4765 | segment 4

We have also been pleased to share our expertise and accumulated experience in new media operations with our partners and jointly promote the development of the travel industry. We have assisted some destinations in using new media tools for marketing. And we have also collaborated with schools to establish internship programs providing practical opportunities for students and jointly cultivating talent with skills in both tourism and new media, providing employment opportunities and benefiting the industry as a whole.

Aug 6, 2024 / CEO / receipt, needs a key / Donald Wu, CEO | earnings call 2024-08-06 | transcript d6f693e7-00d6-4232-9a79-16d27f58b2ca | chars 6181-6705 | segment 6

During this year's Spring Festival and Labor Day holidays, the upbound travel market showed an encouraging rebound. Over the Labor Day holiday, transaction volume for our outbound travel products increased by more than 200% year-over-year.

Jun 4, 2024 / CEO / receipt, needs a key / Donald Wu, CEO | earnings call 2024-06-04 | transcript 2ce1cd82-b05c-42bb-855f-2dd5f1cf2ebb | chars 1854-2093 | segment 1

In January, two new live streaming shows on Douyin in eastern China ranked as the top hotel and travel live streaming shows in the region, and second in China.

Mar 17, 2023 / CEO / receipt, needs a key / Donald Wu, CEO | earnings call 2023-03-17 | transcript 8d0897ea-f876-4e0b-b645-f214822573da | chars 7592-7751 | segment 7

For example, the Maldives. 2NEW has the leading position in China travelers to Maldives. After the reopening of outbound travel, the Maldives quickly attracted the customer popularity and become our top overseas destination in terms of GMV so far.

Mar 17, 2023 / CEO / receipt, needs a key / Donald Wu, CEO | earnings call 2023-03-17 | transcript 8d0897ea-f876-4e0b-b645-f214822573da | chars 16846-17093 | segment 17

For outbound travel, we will actively rebuild our supply chain and team and restore products and services for destinations that have reopened.

Mar 17, 2023 / CEO / receipt, needs a key / Donald Wu, CEO | earnings call 2023-03-17 | transcript 8d0897ea-f876-4e0b-b645-f214822573da | chars 9201-9343 | segment 9

In late 2022, the recovery of China's travel industry saw increased momentum due to the optimization of pandemic prevention and control measures, as well as the lifting of travel restrictions. As a result, 2 News GMV nearly doubled in December 2022 compared to November. China's domestic travel sector has kicked off 2023 with continued rapid growth, while the outbound travel market has started to recover. with a gradual reopening of Macau, Hong Kong, and some overseas destinations. We are pleased to recall that in January and February of 2023, Tuneo's booking GMV for package tours both increased over 100 year-on-year.

Mar 17, 2023 / CEO / receipt, needs a key / Donald Wu, CEO | earnings call 2023-03-17 | transcript 8d0897ea-f876-4e0b-b645-f214822573da | chars 1651-2275 | segment 1

As the travel industry began to recover this year, 2NEWS member state transaction volume in January and February increased by 8 times and 6 times respectively year-on-year.

Mar 17, 2023 / CEO / receipt, needs a key / Donald Wu, CEO | earnings call 2023-03-17 | transcript 8d0897ea-f876-4e0b-b645-f214822573da | chars 6032-6204 | segment 6