SHANGHAI, March 16, 2016 /PRNewswire/ -- Ctrip.com
International, Ltd. (Nasdaq: CTRP), a leading travel service
provider of accommodation reservation, transportation ticketing,
packaged tours and corporate travel management in China ("Ctrip" or the "Company"), today
announced its unaudited financial results for the fourth quarter
and full year ended December 31,
2015.
Highlights for the Fourth Quarter of 2015
- Net revenues were RMB2.9 billion
(US$444 million) for the fourth
quarter of 2015, up 50% year-on-year.
- Net commission earned (non-GAAP) was RMB2.8 billion for the fourth quarter, up 49%
year-on-year. Net commission earned (non-GAAP) is calculated by
deducting from the revenues the cost of transactions in which the
Company undertakes majority of the business risks, including the
inventory risks*. The Company accounts for discounts offered to
customers as reduction to its revenues, and certain significant
discounts may result in selling prices lower than their
corresponding costs.
- Accommodation reservation revenues increased 41% year-on-year,
reaching RMB1.2 billion (US$183 million) for the fourth quarter of
2015.
- Transportation ticketing revenues increased 61% year-on-year,
reaching RMB1.2 billion (US$192 million) for the fourth quarter of
2015.
- Gross margin was 73% for the fourth quarter of 2015, compared
to 69% in the same period in 2014, and remained consistent with the
previous quarter.
- Net income attributable to Ctrip's shareholders was
RMB76 million (US$12 million) for the fourth quarter of 2015,
compared to net loss of RMB224
million (US$36 million) in the
same period in 2014. Excluding share-based compensation charges
(non-GAAP), net income attributable to Ctrip's shareholders was
RMB272 million (US$42 million), compared to net loss of
RMB98 million (US$16 million) in the same period in 2014.
- Diluted earnings per ADS were RMB0.19 (US$0.03)
for the fourth quarter of 2015. Excluding share-based compensation
charges (non-GAAP), diluted earnings per ADS were RMB0.69 (US$0.11)
for the fourth quarter of 2015.
- Share-based compensation charges were RMB196 million (US$30
million), accounting for 7% of the net revenues, or
RMB0.5(US$0.08) per ADS for the fourth quarter of
2015.
* The Company presents majority
of its revenue on a net basis. Revenues are recognized on a gross
basis when the Company undertakes the majority of the business
risks and acts as principal. In the fourth quarter of 2015, the
Company recognized the revenue on a gross basis in the amount of
RMB0.07 billion, and the associated cost of RMB0.07 billion. Should
all of these transactions be presented on net basis, the net
commission earned was RMB2.8 billion.
|
Highlights for the Full Year 2015
- Net revenues were RMB10.9 billion
(US$1.7 billion) in 2015, up 48%
year-on-year.
- Accommodation reservation revenues increased 44% year-on-year,
reaching RMB4.6 billion (US$713 million) in 2015.
- Transportation ticketing revenues increased 51% year-on-year,
reaching RMB4.5 billion (US$688 million) in 2015.
- Gross margin was 72% in 2015, compared to 71% in 2014.
- Net income attributable to Ctrip's shareholders was
RMB2.5 billion (US$387 million), compared to RMB243 million (US$39
million) in 2014. Excluding share-based compensation charges
(non-GAAP), net income attributable to Ctrip's shareholders was
RMB3.2 billion (US$486 million), compared to RMB739 million (US$119
million) in 2014..
- Diluted earnings per ADS were RMB7.11 (US$1.10)
in 2015. Excluding share-based compensation charges (non-GAAP),
diluted earnings per ADS were RMB8.80
(US$1.36) in 2015**.
- Share-based compensation charges were RMB643 million (US$99
million), accounting for 6% of the net revenues, or
RMB1.69 (US$0.26) per ADS in 2015.
** Effective December 1, 2015,
the Company effected a change of the ratio of its American
depositary shares ("ADSs") to ordinary shares from four (4) ADSs
representing one (1) ordinary share to eight (8) ADSs representing
one (1) ordinary share. The historical and present earnings/ (loss)
per share for the periods presented herein has been retrospectively
adjusted to reflect such effect.
|
"Ctrip continued to execute well in the fourth quarter of 2015,
achieving solid revenue growth and significant margin improvement
compared to the same period in 2014," said James Liang, Chairman of the Board and Chief
Executive Officer of Ctrip. "In addition, we expect Ctrip's
investment in other industry players last year to help improve
services and products to better serve Chinese travelers and build a
healthy ecosystem for the overall travel industry. With favorable
industry trends and solid execution, we believe that Ctrip
demonstrates promising long-term growth potential."
Fourth Quarter and Full Year 2015 Financial Results and
Business Updates
For the fourth quarter of 2015, Ctrip reported total revenues of
RMB3.0 billion (US$468 million), representing a 50% increase from
the same period in 2014. Total revenues for the fourth quarter of
2015 decreased by 10% from the previous quarter, primarily due to
seasonality.
For the full year ended December 31,
2015, total revenues were RMB11.5
billion (US$1.8 billion),
representing a 48% increase from 2014.
Accommodation reservation revenues for the fourth quarter of
2015 were RMB1.2 billion
(US$183 million), representing a 41%
increase year-on-year, primarily driven by increase in
accommodation reservation volume. Accommodation reservation
revenues decreased by 14% from the previous quarter, primarily due
to seasonality.
For the full year ended December 31,
2015, accommodation reservation revenues were RMB4.6 billion (US$713
million), representing a 44% increase from 2014. The hotel
reservation revenues accounted for 40% of the total revenues in
2015 and 41% of the total revenue in 2014.
Transportation ticketing revenues for the fourth quarter of 2015
were RMB1.2 billion (US$192 million), representing a 61% increase
year-on-year, primarily driven by an increase of 143% in ticketing
volume. Transportation ticketing revenues increased by 3% from the
previous quarter.
For the full year ended December 31,
2015, transportation ticketing reservation revenues were
RMB4.5 billion (US$688 million), representing a 51% increase from
2014. The transportation ticketing revenues accounted for 39% of
the total revenues in 2015 and 38% of the total revenue in
2014.
Packaged-tour revenues for the fourth quarter of 2015 were
RMB350 million (US$54 million), representing a 50% increase
year-on-year, primarily driven by an increase in volume growth of
organized tours and self-guided tours. Packaged-tour revenues
decreased by 41% from the previous quarter, primarily due to
seasonality.
For the full year ended December 31,
2015, packaged-tour reservation revenues were RMB1.7 billion (US$257
million), representing a 58% increase from 2014. The
packaged-tour reservation revenues accounted for 15% of the total
revenues in 2015 and 14% of the total revenues in 2014.
Corporate travel revenues for the fourth quarter of 2015 were
RMB136 million (US$21 million), representing a 26% increase
year-on-year, primarily driven by the increased corporate travel
demand from business activities. Corporate travel revenues
increased by 9% from the previous quarter.
For the full year ended December 31,
2015, corporate travel revenues were RMB473 million (US$73
million), representing a 27% increase from 2014. The
corporate travel reservation revenues accounted for 4% of the total
revenues in 2015 and 5% of the total revenues in 2014.
For the fourth quarter of 2015, net revenues were RMB2.9 billion (US$444
million), representing a 50% increase from the same period
in 2014. Net revenues for the fourth quarter of 2015 decreased by
10% from the previous quarter.
For the full year ended December 31,
2015, net revenues were RMB10.9
billion (US$1.7 billion),
representing a 48% increase from 2014.
Gross margin was 73% for the fourth quarter of 2015, compared to
69% in the same period in 2014 and remained consistent with the
previous quarter.
For the full year ended December 31,
2015, gross margin was 72%, compared to 71% in 2014.
Product development expenses for the fourth quarter of 2015
increased by 9% to RMB860 million
(US$133 million) from the same period
in 2014 and increased by 4% from the previous quarter, primarily
due to an increase in share-based compensation charges. Excluding
share-based compensation charges (non-GAAP), product development
expenses accounted for 27% of the net revenues, decreasing from 39%
in the same period in 2014 and increased from 24% in the previous
quarter.
For the full year ended December 31,
2015, product development expenses were RMB3.3 billion (US$509
million), representing an increase of 42% from 2014.
Excluding share-based compensation charges (non-GAAP), product
development expenses accounted for 28% of the net revenues,
decreasing from 29% in 2014.
Sales and marketing expenses for the fourth quarter of 2015
increased by 20% to RMB849 million
(US$131 million) from the same period
in 2014, primarily due to an increase in sales and marketing
related activities. Sales and marketing expenses for the fourth
quarter of 2015 increased by 1% from the previous quarter.
Excluding share-based compensation charges (non-GAAP), sales and
marketing expenses accounted for 29% of the net revenues,
decreasing from 36% in the same period in 2014 and increasing from
26% in the previous quarter.
For the full year ended December 31,
2015, sales and marketing expenses were RMB3.1 billion (US$477
million), representing an increase of 39% from 2014.
Excluding share-based compensation charges (non-GAAP), sales and
marketing expenses accounted for 28% of the net revenues,
decreasing from 29% in 2014.
General and administrative expenses for the fourth quarter of
2015 increased by 31% to RMB307
million (US$47 million) from
the same period in 2014 and 17% from the previous quarter,
primarily due to an increase in consulting expenses, share-based
compensation changes and rental expenses. Excluding share-based
compensation charges (non-GAAP), general and administrative
expenses accounted for 7% of the net revenues, decreasing from 9%
in the same period in 2014 and increasing from 6% in the previous
quarter.
For the full year ended December 31,
2015, general and administrative expenses were RMB1.1 billion (US$168
million), representing an increase of 26% from 2014.
Excluding share-based compensation charges (non-GAAP), general and
administrative expenses accounted for 7% of the net revenues,
decreasing from 8% in 2014.
Income from operations for the fourth quarter of 2015 was
RMB95 million (US$15 million), compared to loss of RMB401 million (US$65
million) in the same period in 2014 and income of
RMB405 million (US$64 million) in the previous quarter. Excluding
share-based compensation charges (non-GAAP), income from operations
was RMB292 million (US$45 million), compared to loss of RMB274 million (US$44
million) in the same period in 2014 and income of
RMB539 million (US$85 million) in the previous quarter.
For the full year ended December 31,
2015, income from operations was RMB381 million (US$59
million), compared to loss of RMB151
million (US$24 million) in
2014. Excluding share-based compensation charges (non-GAAP),
income from operations was RMB1.0
billion (US$158 million),
compared RMB346 million (US$56 million) in 2014.
Operating margin was 3% for the fourth quarter of 2015, compared
to -21% in the same period in 2014, and 13% in the previous
quarter. Excluding share-based compensation charges (non-GAAP),
operating margin was 10%, compared to -14% in the same period in
2014 and 17% in the previous quarter.
For the full year ended December 31,
2015, operating margin was 3%, compared to -2% in 2014.
Excluding share-based compensation charges (non-GAAP), operating
margin was 9%, compared to 5% in 2014.
Income tax expense for the fourth quarter of 2015 was
RMB71 million (US$11 million), compared to income tax benefit of
RMB13 million (US$2 million) in the same period of 2014 and
income tax expense of RMB361 million
(US$57 million) in the previous
quarter.
Income tax expense for the full year ended December 31, 2015 was RMB470 million (US$73
million), compared to RMB131
million (US$21 million) in
2014.
Net income attributable to Ctrip's shareholders for the fourth
quarter of 2015 was RMB76 million
(US$12 million), compared to net loss
of RMB224 million (US$36 million) in the same period in 2014 and net
income of RMB2.4 billion
(US$380 million) in the previous
quarter. Excluding share-based compensation charges (non-GAAP), net
income attributable to Ctrip's shareholders was RMB272 million (US$42
million), compared to net loss of RMB98 million (US$16
million) in the same period in 2014 and net income of
RMB2.5 billion (US$401 million) in the previous quarter.
For the full year ended December 31,
2015, net income attributable to Ctrip's shareholders was
RMB2.5 billion (US$387 million), compared to RMB243 million (US$39
million) in 2014. Excluding share-based compensation charges
(non-GAAP), net income attributable to Ctrip's shareholders was
RMB3.2 billion (US$486 million), compared to RMB739 million (US$119
million) in 2014.
Diluted earnings per ADS were RMB0.19 (US$0.03)
for the fourth quarter of 2015. Excluding share-based compensation
charges (non-GAAP), diluted earnings per ADS were RMB0.69 (US$0.11)
for the fourth quarter of 2015**.
For the full year ended December 31,
2015, diluted earnings per ADS were RMB7.11 (US$1.10),
compared to RMB0.79 (US$0.13) in 2014. Excluding share-based
compensation charges (non-GAAP), diluted earnings per ADS were
RMB8.80 (US$1.36), compared to RMB2.42 (US$0.39)
in 2014**.
As of December 31, 2015, the
balance of cash and cash equivalents, restricted cash and
short-term investment was RMB29.7
billion (US$4.6 billion).
Qunar Transactions
In October 2015, Ctrip completed a
share exchange transaction with Baidu. Upon completion of the
exchange, Ctrip beneficially owned ordinary shares of Qunar Cayman
Islands Limited ("Qunar") representing approximately 45% of Qunar's
aggregate voting interests. Subsequent to the transaction with
Baidu, Ctrip issued ordinary shares to certain special purpose
vehicles for exchange transactions solely for the benefit of Qunar
employees and made certain investments in investment entities
managed or owned by parties unaffiliated with each other and
unaffiliated with Ctrip that acquired a significant minority stake
of Qunar. From accounting perspective, Ctrip has consolidated
Qunar's financial results since December 31, 2015.
Investment in MakeMyTrip
In January, 2016, Ctrip made an investment of US$180 million in MakeMyTrip Limited
("MakeMyTrip"), India's largest
online travel company, via convertible bonds. In addition,
MakeMyTrip has granted Ctrip permission to acquire MakeMyTrip
shares in the open market, so that combined with shares convertible
under the convertible bonds, Ctrip may beneficially own up to 26.6%
of MakeMyTrip's outstanding shares. Following the completion of the
investment in January, 2016, Ctrip appointed a director to the
MakeMyTrip board of directors.
Business Outlook
For the first quarter of 2016, the Company expects to continue
the net revenue growth year-on-year at a rate of approximately
75-80%, reflecting the consolidation of Qunar's financial results.
This forecast reflects Ctrip's current and preliminary view, which
is subject to change.
Conference Call
Ctrip's management team will host a conference call at
9:00PM U.S. Eastern Time on
March 16, 2016 (or 9:00AM on March 17,
2016 in the Shanghai/Hong
Kong Time) following the announcement.
The conference call will be available on Webcast live and replay
at: http://ir.ctrip.com. The call will be archived for one month at
this website.
The dial-in details for the live conference call: U.S. Toll Free
Number +1.800.230.3019, International dial-in number
+1.617.597.5413, Passcode 13860562#. For pre-registration, please
click
https://www.theconferencingservice.com/prereg/key.process?key=PJYKBGM9K
A telephone replay of the call will be available after the
conclusion of the conference call until March 23, 2016. The dial-in details for the
replay: U.S. Toll Free Number +1.888.286.8010, International
dial-in number +1.617.801.6888, Passcode 49923099.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"may," "will," "expect," "anticipate," "future," "intend," "plan,"
"believe," "estimate," "is/are likely to," "confident" or other
similar statements. Among other things, quotations from management
and the Business Outlook section in this press release, as well as
Ctrip's strategic and operational plans, contain forward-looking
statements. Ctrip may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties.
Forward-looking statements involve inherent risks and
uncertainties. A number of important factors could cause actual
results to differ materially from those contained in any
forward-looking statement. Potential risks and uncertainties
include, but are not limited to, severe or prolonged downturn in
the global or Chinese economy, general declines or disruptions in
the travel industry, volatility in the trading price of Ctrip's
ADSs, Ctrip's reliance on its relationships and contractual
arrangements with travel suppliers and strategic alliances, failure
to further increase Ctrip's brand recognition to obtain new
business partners and consumers, failure to compete against new and
existing competitors, failure to successfully manage current growth
and potential future growth, risks associated with any strategic
investments or acquisitions, seasonality in the travel industry in
mainland China, Hong Kong, Macau or Taiwan, failure to successfully develop
Ctrip's corporate travel business, damage to or failure of Ctrip's
infrastructure and technology, loss of services of Ctrip's key
executives, adverse changes in economic and political policies of
the PRC government, inflation in China, risks and uncertainties associated with
PRC laws and regulations with respect to the ownership structure of
Ctrip's affiliated Chinese entities and the contractual
arrangements among Ctrip, its affiliated Chinese entities and their
shareholders, and other risks outlined in Ctrip's filings with the
U.S. Securities and Exchange Commission, including its annual
report on Form 20-F and other filings. All information provided in
this press release and in the attachments is as of the date of the
issuance, and Ctrip does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
About Non-GAAP Financial Measures
To supplement Ctrip's unaudited
condensed consolidated financial statements presented in accordance
with United States Generally Accepted Accounting Principles
("GAAP"), Ctrip uses non-GAAP financial information related to
product development expenses, sales and marketing expenses, general
and administrative expenses, income from operations, operating
margin, net income, and diluted earnings per ordinary share and per
ADS, each of which (except for net commission earned) is adjusted
from the most comparable GAAP result to exclude the share-based
compensation charges recorded under ASC 718, "Compensation-Stock
Compensation" for 2015 and 2014. Net commission earned is
calculated by deducting from the revenues the cost of transactions
in which the Company undertakes majority of the business risks.
Ctrip's management believes the non-GAAP financial measures
facilitate better understanding of operating results from quarter
to quarter and provide management with a better capability to plan
and forecast future periods.
Non-GAAP information is not prepared in
accordance with GAAP and may be different from non-GAAP methods of
accounting and reporting used by other companies. The presentation
of this additional information should not be considered a
substitute for GAAP results. A limitation of using non-GAAP
financial measures is that non-GAAP measures exclude share-based
compensation charges that have been and will continue to be
significant recurring expenses in Ctrip's business for the
foreseeable future.
Reconciliations of Ctrip's non-GAAP
financial data to the most comparable GAAP data included in the
consolidated statement of operations are included at the end of
this press release.
About Ctrip.com International, Ltd.
Ctrip.com International, Ltd. is a leading travel service
provider of accommodation reservation, transportation ticketing,
packaged tours, and corporate travel management in China. It is the largest online consolidator
of accommodations and transportation tickets in China in terms of transaction volume. Ctrip
enables business and leisure travelers to make informed and
cost-effective bookings by aggregating comprehensive travel related
information and offering its services through an advanced
transaction and service platform consisting of its mobile apps,
Internet websites and centralized, toll-free, 24-hour customer
service center. Ctrip also helps customers book vacation packages
and guided tours. In addition, through its corporate travel
management services, Ctrip helps corporate clients effectively
manage their travel requirements. Since its inception in 1999,
Ctrip has experienced substantial growth and become one of the
best-known travel brands in China.
For further information, please contact:
Investor Relations
Ctrip.com International, Ltd.
Tel: (+86) 21 3406 4880 X 12300
Email: iremail@ctrip.com
Ctrip.com
International, Ltd.
|
Unaudited
Condensed Consolidated Balance Sheets
|
|
|
|
|
December
31, 2014
|
|
December
31, 2015
|
|
December
31, 2015
|
|
RMB
|
RMB
|
USD
|
|
|
|
|
|
|
|
|
|
|
|
(unaudited)
|
|
(unaudited)
|
|
(unaudited)
|
|
|
ASSETS
|
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
5,300,887,799
|
|
19,215,674,674
|
|
2,966,389,002
|
|
Restricted
cash
|
|
836,394,951
|
|
2,286,882,592
|
|
353,033,837
|
|
Short-term
investment
|
|
6,438,854,587
|
|
8,235,785,516
|
|
1,271,386,198
|
|
Accounts receivable,
net
|
|
1,826,765,949
|
|
3,150,768,364
|
|
486,394,820
|
|
Prepayments and other
current assets
|
|
2,480,276,272
|
|
7,711,757,285
|
|
1,190,490,180
|
|
Deferred tax assets,
current
|
|
193,503,366
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
Total current
assets
|
|
17,076,682,924
|
|
40,600,868,431
|
|
6,267,694,037
|
|
|
|
|
|
|
|
|
|
Long-term deposits
and prepayments
|
|
225,269,063
|
|
486,785,968
|
|
75,146,804
|
|
Land use
rights
|
|
104,568,868
|
|
102,328,181
|
|
15,796,749
|
|
Property, equipment
and software
|
|
5,220,626,461
|
|
5,555,959,499
|
|
857,692,349
|
|
Investment
|
|
5,318,756,447
|
|
13,870,523,498
|
|
2,141,239,850
|
|
Goodwill
|
|
1,892,507,708
|
|
45,690,440,903
|
|
7,053,388,635
|
|
Intangible
assets
|
|
668,202,371
|
|
11,007,915,171
|
|
1,699,329,274
|
|
Other long-term
receviables
|
|
702,911,223
|
|
1,122,435,740
|
|
173,274,220
|
|
Deferred tax assets,
non-current
|
|
-
|
|
405,334,569
|
|
62,572,875
|
|
|
|
|
|
|
|
|
|
Total
assets
|
|
31,209,525,065
|
|
118,842,591,960
|
|
18,346,134,793
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
|
Short-term
Debt
|
|
3,560,488,641
|
|
12,710,213,398
|
|
1,962,118,836
|
|
Accounts
payable
|
|
2,304,111,525
|
|
5,944,501,681
|
|
917,672,926
|
|
Salary and welfare
payable
|
|
525,157,105
|
|
1,196,691,839
|
|
184,737,386
|
|
Taxes
payable
|
|
339,452,319
|
|
1,641,379,425
|
|
253,385,320
|
|
Advances from
customers
|
|
3,937,477,522
|
|
5,955,827,306
|
|
919,421,301
|
|
Accrued liability for
customer reward program
|
|
430,852,908
|
|
593,346,816
|
|
91,596,964
|
|
Other payables and
accruals
|
|
1,617,162,761
|
|
5,624,133,603
|
|
868,216,617
|
|
|
|
|
|
|
|
|
|
Total current
liabilities
|
|
12,714,702,781
|
|
33,666,094,068
|
|
5,197,149,350
|
|
|
|
|
|
|
|
|
|
Deferred tax
liabilities, non-current
|
|
132,506,644
|
|
3,045,259,390
|
|
470,107,041
|
|
Long-term Debt
*
|
|
7,984,588,052
|
|
18,354,608,260
|
|
2,833,463,253
|
|
Other long-term
Liabilities
|
|
-
|
|
91,702,261
|
|
14,156,390
|
|
|
|
|
|
|
|
|
|
Total
liabilities
|
|
20,831,797,477
|
|
55,157,663,979
|
|
8,514,876,034
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
|
|
Share
capital
|
|
3,085,272
|
|
4,121,245
|
|
636,211
|
|
Additional paid-in
capital
|
|
4,828,021,816
|
|
37,991,678,952
|
|
5,864,904,590
|
|
Statutory
reserves
|
|
134,098,747
|
|
168,940,969
|
|
26,079,992
|
|
Accumulated other
comprehensive income
|
|
443,579,376
|
|
560,077,281
|
|
86,461,033
|
|
Retained
Earnings
|
|
5,726,024,997
|
|
8,198,838,659
|
|
1,265,682,587
|
|
Treasury
stock
|
|
(1,605,630,913)
|
|
(2,372,927,372)
|
|
(366,316,863)
|
|
|
|
|
|
|
|
|
|
Total Ctrip's
shareholders' equity
|
|
9,529,179,295
|
|
44,550,729,734
|
|
6,877,447,550
|
|
|
|
|
|
|
|
|
|
Noncontrolling
interests
|
|
848,548,293
|
|
19,134,198,247
|
|
2,953,811,209
|
|
|
|
|
|
|
|
|
|
Total
shareholders' equity
|
|
10,377,727,588
|
|
63,684,927,981
|
|
9,831,258,759
|
|
|
|
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
|
31,209,525,065
|
|
118,842,591,960
|
|
18,346,134,793
|
|
|
|
|
|
|
|
|
|
* In April 2015, the
FASB issued new guidance which changes the presentation of debt
issuance cost. Under the new
guidance, debt issuance
costs are presented
as a reduction of the carrying amount of the related liability,
rather than as an asset. This
guidance has been early adopted
and applied
retrospectively by the Company to the prior period presented
herein.
|
Ctrip.com
International, Ltd.
|
Unaudited
Condensed Consolidated Statements of Comprehensive
Income
|
|
|
|
|
Quarter
Ended
|
|
Quarter
Ended
|
|
Quarter
Ended
|
|
Quarter
Ended
|
|
December
31, 2014
|
September
30, 2015
|
December
31, 2015
|
December
31, 2015
|
|
RMB
|
RMB
|
RMB
|
USD
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(unaudited)
|
|
(unaudited)
|
|
(unaudited)
|
|
(unaudited)
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
Accommodation
reservation
|
|
841,899,849
|
|
1,373,210,943
|
|
1,187,217,738
|
|
183,274,837
|
|
Transportation
ticketing
|
|
773,696,894
|
|
1,208,988,575
|
|
1,244,438,719
|
|
192,108,234
|
|
Packaged
tour
|
|
233,363,600
|
|
593,104,352
|
|
349,554,765
|
|
53,961,957
|
|
Corporate
travel
|
|
108,149,606
|
|
124,012,662
|
|
135,773,015
|
|
20,959,742
|
|
Others
|
|
63,296,892
|
|
56,452,092
|
|
115,402,073
|
|
17,815,010
|
|
|
|
|
|
|
|
|
|
|
|
Total
revenues
|
|
2,020,406,841
|
|
3,355,768,624
|
|
3,032,386,310
|
|
468,119,780
|
|
|
|
|
|
|
|
|
|
|
|
Less: business tax
and related surcharges
|
|
(107,108,067)
|
|
(174,168,169)
|
|
(158,331,192)
|
|
(24,442,124)
|
|
|
|
|
|
|
|
|
|
|
|
Net
revenues
|
|
1,913,298,774
|
|
3,181,600,455
|
|
2,874,055,118
|
|
443,677,656
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
(583,612,903)
|
|
(845,578,129)
|
|
(763,236,345)
|
|
(117,823,388)
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
1,329,685,871
|
|
2,336,022,326
|
|
2,110,818,773
|
|
325,854,268
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
Product development
*
|
|
(789,187,599)
|
|
(831,300,768)
|
|
(860,441,746)
|
|
(132,829,316)
|
|
Sales and marketing
*
|
|
(707,201,365)
|
|
(838,091,452)
|
|
(848,674,020)
|
|
(131,012,693)
|
|
General and
administrative *
|
|
(234,203,387)
|
|
(261,395,780)
|
|
(306,510,322)
|
|
(47,317,040)
|
|
|
|
|
|
|
|
|
|
|
|
Total operating
expenses
|
|
(1,730,592,351)
|
|
(1,930,788,000)
|
|
(2,015,626,088)
|
|
(311,159,049)
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/ income
from operations
|
|
(400,906,480)
|
|
405,234,326
|
|
95,192,685
|
|
14,695,219
|
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
|
57,159,146
|
|
121,846,900
|
|
124,921,975
|
|
19,284,630
|
|
Interest
expense
|
|
(50,487,030)
|
|
(95,338,026)
|
|
(95,168,377)
|
|
(14,691,466)
|
|
Other
income
|
|
45,500,152
|
|
2,393,697,312
|
|
90,854,149
|
|
14,025,464
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/ income
before income tax expense and equity in income
|
|
(348,734,212)
|
|
2,825,440,512
|
|
215,800,432
|
|
33,313,847
|
|
|
|
|
|
|
|
|
|
|
|
Income tax benefit/
(expense)
|
|
13,379,084
|
|
(361,093,550)
|
|
(71,482,684)
|
|
(11,035,025)
|
|
Equity in loss/
(income) of affiliates
|
|
38,233,823
|
|
(30,123,031)
|
|
(94,569,524)
|
|
(14,599,019)
|
|
|
|
|
|
|
|
|
|
|
|
Net
(loss)/income
|
|
(297,121,305)
|
|
2,434,223,931
|
|
49,748,224
|
|
7,679,803
|
|
|
|
|
|
|
|
|
|
|
|
Less: Net loss/
(income) attributable to noncontrolling interests
|
|
72,696,599
|
|
(19,087,650)
|
|
25,979,638
|
|
4,010,565
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)/ income
attributable to Ctrip's shareholders
|
|
(224,424,706)
|
|
2,415,136,281
|
|
75,727,862
|
|
11,690,368
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive
(loss) /income attributable to Ctrip's shareholders
|
|
(322,594,544)
|
|
2,306,848,135
|
|
(145,866,588)
|
|
(22,517,921)
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per ordinary
share
|
|
|
|
|
|
|
|
|
|
- Basic
|
|
(6.41)
|
|
68.17
|
|
1.69
|
|
0.26
|
|
- Diluted
|
|
(6.41)
|
|
53.04
|
|
1.54
|
|
0.24
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per ADS
**
|
|
|
|
|
|
|
|
|
|
- Basic
|
|
(0.80)
|
|
8.52
|
|
0.21
|
|
0.03
|
|
- Diluted
|
|
(0.80)
|
|
6.63
|
|
0.19
|
|
0.03
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
ordinary shares outstanding
|
|
|
|
|
|
|
|
|
|
- Basic
|
|
35,032,648
|
|
35,430,302
|
|
44,732,540
|
|
44,732,540
|
|
- Diluted
|
|
35,032,648
|
|
46,879,374
|
|
49,370,393
|
|
49,370,393
|
|
|
|
|
|
|
|
|
|
|
|
* Share-based
compensation charges included are as follows:
|
|
|
|
|
|
|
|
|
|
Product
development
|
|
50,677,920
|
|
63,703,926
|
|
86,925,299
|
|
13,418,954
|
|
Sales and
marketing
|
|
15,049,518
|
|
13,900,587
|
|
17,849,767
|
|
2,755,529
|
|
General and
administrative
|
|
60,880,262
|
|
56,501,095
|
|
91,711,157
|
|
14,157,763
|
|
|
|
|
|
|
|
|
|
|
|
**On November 18,
2015, the Company announced that it would change the ratio of its
American depositary shares ("ADSs") to ordinary shares from four
(4) ADSs representing one (1) ordinary
share to eight (8)
ADSs representing one (1) ordinary share, effective December 1,
2015. The historical and present earnings/ (loss) per share for the
periods presented herein has been
retrospectively
adjusted to reflect such effect.
|
|
Ctrip.com
International, Ltd.
|
Reconciliation
of GAAP and Non-GAAP Results
|
(In RMB, except %
and per share information)
|
|
|
|
Quarter Ended
December 31, 2015
|
|
|
|
GAAP
Result
|
% of
Net
Revenues
|
|
Share-based
Compensation
|
% of
Net
Revenues
|
|
Non-GAAP
Result
|
% of
Net
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product
development
|
(860,441,746)
|
30%
|
|
86,925,299
|
3%
|
|
(773,516,447)
|
27%
|
|
|
Sales and
marketing
|
(848,674,020)
|
30%
|
|
17,849,767
|
1%
|
|
(830,824,253)
|
29%
|
|
|
General and
administrative
|
(306,510,322)
|
11%
|
|
91,711,157
|
3%
|
|
(214,799,165)
|
7%
|
|
|
Total operating
expenses
|
(2,015,626,088)
|
70%
|
|
196,486,223
|
7%
|
|
(1,819,139,865)
|
63%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income/(loss) from
operations
|
95,192,685
|
3%
|
|
196,486,223
|
7%
|
|
291,678,908
|
10%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income/(loss)
attributable to Ctrip's shareholders
|
75,727,862
|
3%
|
|
196,486,223
|
7%
|
|
272,214,085
|
9%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
1.54
|
|
|
3.98
|
|
|
5.52
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (RMB)
|
0.19
|
|
|
0.50
|
|
|
0.69
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (USD)
|
0.03
|
|
|
0.08
|
|
|
0.11
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
September 30, 2015
|
|
|
|
GAAP
Result
|
% of
Net
Revenues
|
|
Share-based
Compensation
|
% of
Net
Revenues
|
|
Non-GAAP
Result
|
% of
Net
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product
development
|
(831,300,768)
|
26%
|
|
63,703,926
|
2%
|
|
(767,596,842)
|
24%
|
|
|
Sales and
marketing
|
(838,091,452)
|
26%
|
|
13,900,587
|
0%
|
|
(824,190,865)
|
26%
|
|
|
General and
administrative
|
(261,395,780)
|
8%
|
|
56,501,095
|
2%
|
|
(204,894,685)
|
6%
|
|
|
Total operating
expenses
|
(1,930,788,000)
|
61%
|
|
134,105,608
|
4%
|
|
(1,796,682,392)
|
56%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from
operations
|
405,234,326
|
13%
|
|
134,105,608
|
4%
|
|
539,339,934
|
17%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to Ctrip's shareholders
|
2,415,136,281
|
76%
|
|
134,105,608
|
4%
|
|
2,549,241,889
|
80%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
53.04
|
|
|
1.34
|
|
|
54.38
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (RMB)
|
6.63
|
|
|
0.36
|
|
|
6.99
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (USD)
|
1.04
|
|
|
0.06
|
|
|
1.10
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
December 31, 2014
|
|
|
|
GAAP
Result
|
% of
Net
Revenues
|
|
Share-based
Compensation
|
% of
Net
Revenues
|
|
Non-GAAP
Result
|
% of
Net
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product
development
|
(789,187,599)
|
41%
|
|
50,677,920
|
3%
|
|
(738,509,679)
|
39%
|
|
|
Sales and
marketing
|
(707,201,365)
|
37%
|
|
15,049,518
|
1%
|
|
(692,151,847)
|
36%
|
|
|
General and
administrative
|
(234,203,387)
|
12%
|
|
60,880,262
|
3%
|
|
(173,323,125)
|
9%
|
|
|
Total operating
expenses
|
(1,730,592,351)
|
90%
|
|
126,607,700
|
7%
|
|
(1,603,984,651)
|
84%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from
operations
|
(400,906,480)
|
-21%
|
|
126,607,700
|
7%
|
|
(274,298,780)
|
-14%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to Ctrip's shareholders
|
(224,424,706)
|
-12%
|
|
126,607,700
|
7%
|
|
(97,817,006)
|
-5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
(6.41)
|
|
|
3.62
|
|
|
(2.79)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (RMB)
|
(0.80)
|
|
|
0.45
|
|
|
(0.35)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (USD)
|
(0.13)
|
|
|
0.07
|
|
|
(0.06)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes for all the
condensed consolidated financial schedules presented:
|
|
|
|
Note 1: The
conversion of Renminbi (RMB) into U.S. dollars (USD) is based on
the certified exchange rate of USD1.00=RMB6.4778 on December 31,
2015 published by the
Federal Reserve
Board.
|
|
|
|
|
Notes 2: On November
18, 2015, the Company announced that it would change the ratio of
its American depositary shares ("ADSs") to ordinary shares from
four (4)
ADSs representing one
(1) ordinary share to eight (8) ADSs representing one (1) ordinary
share, effective December 1, 2015. The historical and present
earnings/ (
loss) per share for
the periods presented herein has been retrospectively adjusted to
reflect such effect.
|
|
|
|
|
|
Ctrip.com
International, Ltd.
|
Condensed
Consolidated Statements of Comprehensive Income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year
Ended
|
|
|
Year
Ended
|
|
|
Year
Ended
|
|
December
31, 2014
|
December
31, 2015
|
December
31, 2015
|
|
RMB
|
RMB
|
USD
|
|
|
|
|
|
|
|
|
|
|
|
(unaudited)
|
|
|
(unaudited)
|
|
|
(unaudited)
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
Accommodation
reservation
|
|
3,201,426,933
|
|
|
4,616,649,394
|
|
|
712,687,856
|
|
Transportation
ticketing
|
|
2,950,072,484
|
|
|
4,453,885,749
|
|
|
687,561,479
|
|
Packaged
tour
|
|
1,055,369,205
|
|
|
1,667,945,350
|
|
|
257,486,392
|
|
Corporate
travel
|
|
373,407,012
|
|
|
473,245,440
|
|
|
73,056,507
|
|
Others
|
|
192,281,473
|
|
|
285,220,475
|
|
|
44,030,454
|
|
|
|
|
|
|
|
|
|
|
|
Total
revenues
|
|
7,772,557,107
|
|
|
11,496,946,408
|
|
|
1,774,822,688
|
|
|
|
|
|
|
|
|
|
|
|
Less: business tax
and related surcharges
|
|
(425,638,738)
|
|
|
(599,378,347)
|
|
|
(92,528,072)
|
|
|
|
|
|
|
|
|
|
|
|
Net
revenues
|
|
7,346,918,369
|
|
|
10,897,568,061
|
|
|
1,682,294,616
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
(2,100,606,413)
|
|
|
(3,043,439,819)
|
|
|
(469,826,148)
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
5,246,311,956
|
|
|
7,854,128,242
|
|
|
1,212,468,468
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
Product development
*
|
|
(2,321,348,753)
|
|
|
(3,296,692,936)
|
|
|
(508,921,692)
|
|
Sales and marketing
*
|
|
(2,214,209,719)
|
|
|
(3,087,989,953)
|
|
|
(476,703,503)
|
|
General and
administrative *
|
|
(861,550,628)
|
|
|
(1,088,402,408)
|
|
|
(168,020,379)
|
|
|
|
|
|
|
|
|
|
|
|
Total operating
expenses
|
|
(5,397,109,100)
|
|
|
(7,473,085,297)
|
|
|
(1,153,645,574)
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/ income
from operations
|
|
(150,797,144)
|
|
|
381,042,945
|
|
|
58,822,894
|
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
|
304,583,544
|
|
|
445,767,036
|
|
|
68,814,572
|
|
Interest
expense
|
|
(162,354,675)
|
|
|
(302,425,829)
|
|
|
(46,686,503)
|
|
Other
income
|
|
144,006,435
|
|
|
2,480,979,830
|
|
|
382,997,288
|
|
|
|
|
|
|
|
|
|
|
|
Income before
income tax expense and equity in income
|
|
135,438,160
|
|
|
3,005,363,982
|
|
|
463,948,251
|
|
|
|
|
|
|
|
|
|
|
|
Income tax
expense
|
|
(130,821,156)
|
|
|
(470,188,423)
|
|
|
(72,584,585)
|
|
Equity in income/
(loss) of affiliates
|
|
87,005,341
|
|
|
(135,780,312)
|
|
|
(20,960,868)
|
|
|
|
|
|
|
|
|
|
|
|
Net
income
|
|
91,622,345
|
|
|
2,399,395,247
|
|
|
370,402,798
|
|
|
|
|
|
|
|
|
|
|
|
Less: Net loss
attributable to noncontrolling interests
|
|
151,117,436
|
|
|
108,260,637
|
|
|
16,712,562
|
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to Ctrip's shareholders
|
|
242,739,781
|
|
|
2,507,655,884
|
|
|
387,115,360
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive
income attributable to Ctrip's shareholders
|
|
313,684,577
|
|
|
2,624,153,789
|
|
|
405,099,538
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per ordinary
share
|
|
|
|
|
|
|
|
|
|
- Basic
|
|
7.08
|
|
|
66.34
|
|
|
10.24
|
|
- Diluted
|
|
6.35
|
|
|
56.85
|
|
|
8.78
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per ADS
**
|
|
|
|
|
|
|
|
|
|
- Basic
|
|
0.88
|
|
|
8.29
|
|
|
1.28
|
|
- Diluted
|
|
0.79
|
|
|
7.11
|
|
|
1.10
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
ordinary shares outstanding
|
|
|
|
|
|
|
|
|
|
- Basic
|
|
34,289,170
|
|
|
37,797,698
|
|
|
37,797,698
|
|
- Diluted
|
|
38,207,858
|
|
|
47,375,248
|
|
|
47,375,248
|
|
|
|
|
|
|
|
|
|
|
|
* Share-based
compensation charges included are as follows:
|
|
|
|
|
|
|
|
|
|
Product
development
|
|
184,664,576
|
|
|
291,642,931
|
|
|
45,021,910
|
|
Sales and
marketing
|
|
54,391,508
|
|
|
65,574,256
|
|
|
10,122,921
|
|
General and
administrative
|
|
257,587,405
|
|
|
285,379,287
|
|
|
44,054,970
|
|
|
|
|
|
|
|
|
|
|
|
**On November 18, 2015, the Company announced that it would change
the ratio of its American depositary shares ("ADSs") to ordinary
shares from four
(4) ADSs representing
one (1) ordinary share to eight (8) ADSs representing one (1)
ordinary share, effective December 1, 2015. The historical and
present
earnings/ (loss) per
share for the periods presented herein has been retrospectively
adjusted to reflect such effect.
|
|
|
Ctrip.com
International, Ltd.
|
Reconciliation
of GAAP and Non-GAAP Results
|
(In RMB, except %
and per share information)
|
|
|
|
Year Ended
December 31, 2015
|
|
|
|
GAAP
Result
|
% of
Net
Revenues
|
|
Share-based
Compensation
|
% of
Net
Revenues
|
|
Non-GAAP
Result
|
% of
Net
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product
development
|
(3,296,692,936)
|
30%
|
|
291,642,931
|
3%
|
|
(3,005,050,005)
|
28%
|
|
|
Sales and
marketing
|
(3,087,989,953)
|
28%
|
|
65,574,256
|
1%
|
|
(3,022,415,697)
|
28%
|
|
|
General and
administrative
|
(1,088,402,408)
|
10%
|
|
285,379,287
|
3%
|
|
(803,023,121)
|
7%
|
|
|
Total operating
expenses
|
(7,473,085,297)
|
69%
|
|
642,596,474
|
6%
|
|
(6,830,488,823)
|
63%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income/(loss) from
operations
|
381,042,945
|
3%
|
|
642,596,474
|
6%
|
|
1,023,639,419
|
9%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to Ctrip's shareholders
|
2,507,655,884
|
23%
|
|
642,596,474
|
6%
|
|
3,150,252,358
|
29%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
56.85
|
|
|
13.56
|
|
|
70.41
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (RMB)
|
7.11
|
|
|
1.69
|
|
|
8.80
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (USD)
|
1.10
|
|
|
0.26
|
|
|
1.36
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended
December 31, 2014
|
|
|
|
GAAP
Result
|
% of
Net
Revenues
|
|
Share-based
Compensation
|
% of
Net
Revenues
|
|
Non-GAAP
Result
|
% of
Net
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product
development
|
(2,321,348,753)
|
32%
|
|
184,664,576
|
3%
|
|
(2,136,684,177)
|
29%
|
|
|
Sales and
marketing
|
(2,214,209,719)
|
30%
|
|
54,391,508
|
1%
|
|
(2,159,818,211)
|
29%
|
|
|
General and
administrative
|
(861,550,628)
|
12%
|
|
257,587,405
|
4%
|
|
(603,963,223)
|
8%
|
|
|
Total operating
expenses
|
(5,397,109,100)
|
73%
|
|
496,643,489
|
7%
|
|
(4,900,465,611)
|
67%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from
operations
|
(150,797,144)
|
-2%
|
|
496,643,489
|
7%
|
|
345,846,345
|
5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to Ctrip's shareholders
|
242,739,781
|
3%
|
|
496,643,489
|
7%
|
|
739,383,270
|
10%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
6.35
|
|
|
13.00
|
|
|
19.35
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (RMB)
|
0.79
|
|
|
1.63
|
|
|
2.42
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (USD)
|
0.13
|
|
|
0.26
|
|
|
0.39
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes for all the
condensed consolidated financial schedules presented:
|
|
|
|
Note 1: The
conversion of Renminbi (RMB) into U.S. dollars (USD) is based on
the certified exchange rate of USD1.00=RMB6.4778 on December 31,
2015
published by the
Federal Reserve Board.
|
|
|
|
|
Notes 2:On November
18, 2015, the Company announced that it would change the ratio of
its American depositary shares ("ADSs") to ordinary shares
from
four (4) ADSs
representing one (1) ordinary share to eight (8) ADSs representing
one (1) ordinary share, effective December 1, 2015. The historical
and
present earnings/
(loss) per share for the periods presented herein has been
retrospectively adjusted to reflect such effect.
|
|
|
|
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ctrip-reports-unaudited-fourth-quarter-and-full-year-2015-financial-results-300237007.html
SOURCE Ctrip.com International, Ltd.