SHANGHAI, May 10, 2017 /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 first quarter
ended March 31, 2017.
Key Highlights
- Ctrip reported strong financial results in the first quarter of
2017.
-
- Net revenues increased 46% year-on-year to RMB6.1 billion in the first quarter of 2017.
-
- The accommodation reservation business delivered healthy growth
in the first quarter of 2017, driven primarily by the volume growth
of organic businesses.
- The transportation ticketing business also continued its strong
growth, benefiting from solid execution of organic air ticketing
business, fast growing new business units and the addition of
Skyscanner.
- Gross margin was 80% for the first quarter of 2017, improving
from 73% in the same quarter of 2016 and 78% in the previous
quarter, due to further efficiency gain.
- Operating margin for the first quarter of 2017 was 7%.
Excluding share-based compensation charges, Non-GAAP operating
margin for the first quarter of 2017 was 15%, improving
significantly from 0% in the same quarter a year ago, driven mainly
by improvements in operating efficiency across the board and
synergies from the invested companies.
- The company has strengthened its presence in lower tier cities
through more targeted sales and marketing spending. Recently, Qunar
has signed a famous actress as its first brand ambassador. The move
will help Qunar increase its influence among younger consumers and
grow its customer base, especially in lower tier cities.
"This is the first quarter we consolidated Skyscanner results,"
said James Liang, Executive
Chairman. "By leveraging Skyscanner and other strategic overseas
investments, we expect to further strengthen our international
product offerings and improve user experiences for both Chinese and
international travelers."
"We kicked off 2017 with great results," said Jane Jie
Sun, Chief Executive Officer. "The group has continued to
achieve healthy revenue growth and margin expansion. We have also
been making great strides in penetrating into lower-tier cities and
expanding into international markets, thanks to our teams' strong
execution and strategic investments."
First Quarter of 2017 Financial Results and Business
Updates
For the first quarter of 2017, Ctrip reported net revenues of
RMB6.1 billion (US$884 million), representing a 46% increase from
the same period in 2016. Net revenues for the first quarter of 2017
increased 20% from the previous quarter.
Accommodation reservation revenues for the first quarter of 2017
were RMB2.1 billion (US$301 million), representing a 28% increase from
the same period in 2016, primarily driven by an increase in
accommodation reservation volume. Accommodation reservation
revenues for the first quarter of 2017 increased 12% from the
previous quarter, primarily due to seasonality.
Transportation ticketing revenues for the first quarter of 2017
were RMB2.9 billion (US$418 million), representing a 48% increase from
the same period in 2016, primarily driven by an increase in
ticketing volume and the consolidation of Skyscanner's financial
results since December 31, 2016.
Transportation ticketing revenues increase 18% from the previous
quarter, primarily due to seasonality and the consolidation of
Skyscanner's financial results since December 31, 2016.
Packaged-tour revenues for the first quarter of 2017 were
RMB702 million (US$102 million), representing a 26% increase from
the same period in 2016, primarily driven by an increase in volume
growth of organized tours and self-guided tours. Packaged-tour
revenues for the first quarter of 2017 increased 50% from the
previous quarter, primarily due to seasonality.
Corporate travel revenues for the first quarter of 2017 were
RMB144 million (US$21 million), representing a 25% increase from
the same period in 2016, primarily driven by expansion in travel
product coverage. Corporate travel revenue for the first quarter of
2017 decreased 19% from the previous quarter, primarily due to
seasonality.
Gross margin was 80% for the first quarter of 2017, compared to
73% in the same period in 2016, and 78% in the previous period.
Product development expenses for the first quarter of 2017
decreased by 18% to RMB2.0 billion
(US$285 million) from the same period
in 2016, primarily due to a decrease in share-based compensation
charges. Product development expenses for the first quarter of 2017
increased 14% from the previous quarter, primarily due to an
increase in product development personnel related expenses. Product
development expenses for the first quarter of 2017 accounted for
32% of the net revenues. Excluding share-based compensation
charges, Non-GAAP product development expenses for the first
quarter of 2017 accounted for 28% of the net revenues, which
decreased from 32% in the same period of 2016 and increased from
27% in the previous quarter.
Sales and marketing expenses for the first quarter of 2017
increased by 22% to RMB1.9 billion
(US$273 million) from the same period
in 2016 and increased 28% from the previous quarter, primarily due
to an increase in sales and marketing related activities. Sales and
marketing expenses for the first quarter of 2017 accounted for 31%
of the net revenues. Excluding share-based compensation charges,
Non-GAAP sales and marketing expenses for the first quarter of 2017
accounted for 30% of the net revenues, which decreased from 33% in
the same period in 2016 and increase from 28% in the previous
quarter.
General and administrative expenses for the first quarter of
2017 decreased by 31% to RMB638
million (US$93 million) from
the same period in 2016, primarily due to a decrease in share-based
compensation charges. General and administrative expenses for the
first quarter of 2017 increased 18% from the previous quarter.
General and administrative expenses for the first quarter of 2017
accounted for 10% of the net revenues. Excluding share-based
compensation charges, Non-GAAP general and administrative expenses
accounted for 7% of the net revenues, which decrease from 8% in the
same period in 2016 and remained consistent with the previous
quarter.
Income from operations for the first quarter of 2017 was
RMB414 million (US$60 million), compared to loss of RMB1.8 billion in the same period in 2016 and
income of RMB207 million in the
previous quarter. Excluding share-based compensation charges,
Non-GAAP income from operations was RMB936
million (US$136 million),
compared to RMB8 million in the same
period in 2016 and RMB797 million in
the previous quarter.
Operating margin was 7% for the first quarter of 2017, compared
to -44% in the same period in 2016, and 4% in the previous quarter.
Excluding share-based compensation charges, Non-GAAP operating
margin was 15%, compared to 0% in the same period in 2016 and 16%
in the previous quarter.
Income tax expense for the first quarter of 2017 was
RMB148 million (US$22 million), compared to RMB94 million in the same period of 2016 and
RMB110 million in the previous
quarter. The change in the Group's effective tax rates from year
over year is primarily attributable to the tax differential from
certain subsidiaries with preferential tax rates as well as the
non-deductible expenses.
Net income attributable to Ctrip's shareholders for the first
quarter of 2017 was RMB82 million
(US$12 million), compared to net loss
of RMB1.6 billion in the same period
in 2016 and net income of RMB645
million in the previous quarter.
Diluted earnings per ADS were RMB0.15 (US$0.02)
for the first quarter of 2017. Excluding share-based compensation
charges, Non-GAAP diluted earnings per ADS were RMB1.09 (US$0.16)
for the first quarter of 2017.
As of March 31, 2017, the balance
of cash and cash equivalents, restricted cash and short-term
investment was RMB36 billion
(US$5 billion).
Business Outlook
For the second quarter of 2017, the Company expects the net
revenue growth to continue at a year-on-year rate of approximately
40-45%. 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
8:00PM U.S. Eastern Time on
May 10, 2017 (or 8:00AM Beijing Time on May
11, 2017) 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 twelve
months at this website.
The dial-in details for the live conference call: U.S. Toll Free
Number +1.888.268.4181, International dial-in number
+1.617.597.5486, Passcode 34628326#. For pre-registration, please
click
https://www.theconferencingservice.com/prereg/key.process?key=P4JWCM66K.
A telephone replay of the call will be available after the
conclusion of the conference call until May
17, 2017. 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 30809529.
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 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 the relevant jurisdictions
where Ctrip operates, failure to successfully develop Ctrip's
existing or future business lines, 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. 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 attributable
to Ctrip's shareholders, 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" and its share-based compensation
charges are not tax deductible. 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, 2016
|
|
March
31, 2017
|
|
March
31, 2017
|
|
RMB
|
|
RMB
|
|
USD
|
|
|
|
|
|
|
|
(unaudited)
|
|
(unaudited)
|
|
(unaudited)
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
18,434,681,251
|
|
18,920,074,163
|
|
2,748,732,299
|
Restricted
cash
|
1,744,490,307
|
|
2,207,070,084
|
|
320,645,933
|
Short-term
investment
|
14,112,862,288
|
|
14,899,370,234
|
|
2,164,599,348
|
Accounts receivable,
net
|
4,624,818,322
|
|
4,815,578,150
|
|
699,613,283
|
Prepayments and other
current assets
|
6,994,589,672
|
|
5,774,923,880
|
|
838,988,244
|
|
|
|
|
|
|
Total current
assets
|
45,911,441,840
|
|
46,617,016,511
|
|
6,772,579,107
|
|
|
|
|
|
|
Long-term deposits
and prepayments
|
1,147,279,197
|
|
1,144,354,941
|
|
166,253,333
|
Land use
rights
|
99,544,772
|
|
98,848,921
|
|
14,360,896
|
Property, equipment
and software
|
5,591,960,081
|
|
5,564,904,437
|
|
808,476,354
|
Investment
|
20,532,822,365
|
|
21,478,148,266
|
|
3,120,372,540
|
Goodwill
|
56,015,185,590
|
|
56,015,185,590
|
|
8,137,956,995
|
Intangible
assets
|
13,924,769,931
|
|
13,828,398,969
|
|
2,009,007,289
|
Other long-term
receivables
|
815,586,298
|
|
814,640,214
|
|
118,351,960
|
Deferred tax
assets
|
375,311,594
|
|
380,088,976
|
|
55,219,807
|
|
|
|
|
|
|
Total
assets
|
144,413,901,668
|
|
145,941,586,825
|
|
21,202,578,281
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Short-term
Debt
|
6,887,309,589
|
|
10,692,421,425
|
|
1,553,408,505
|
Accounts
payable
|
7,278,791,082
|
|
6,416,823,521
|
|
932,244,235
|
Salary and welfare
payable
|
2,508,430,757
|
|
2,436,526,375
|
|
353,981,633
|
Taxes
payable
|
1,084,241,429
|
|
669,154,536
|
|
97,215,617
|
Advances from
customers
|
8,190,840,057
|
|
6,275,608,546
|
|
911,728,345
|
Accrued liability for
customer reward program
|
658,170,680
|
|
643,186,036
|
|
93,442,881
|
Other payables and
accruals
|
3,687,242,592
|
|
4,595,315,101
|
|
667,613,190
|
|
|
|
|
|
|
Total current
liabilities
|
30,295,026,186
|
|
31,729,035,540
|
|
4,609,634,406
|
|
|
|
|
|
|
Deferred tax
liabilities
|
3,607,882,808
|
|
3,562,005,006
|
|
517,492,592
|
Long-term
Debt
|
34,650,673,553
|
|
34,304,414,250
|
|
4,983,788,681
|
Other long-term
Liabilities
|
339,566,619
|
|
339,895,061
|
|
49,380,384
|
|
|
|
|
|
|
Total
liabilities
|
68,893,149,166
|
|
69,935,349,857
|
|
10,160,296,063
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
Share
capital
|
4,960,354
|
|
5,059,117
|
|
734,995
|
Additional paid-in
capital
|
65,819,998,701
|
|
67,236,288,328
|
|
9,768,172,990
|
Statutory
reserves
|
237,495,820
|
|
237,495,820
|
|
34,503,693
|
Accumulated other
comprehensive income
|
1,010,373,732
|
|
2,161,037,938
|
|
313,958,324
|
Retained
Earnings
|
6,699,580,613
|
|
6,782,028,594
|
|
985,301,690
|
Treasury
stock
|
(2,235,574,510)
|
|
(2,235,574,510)
|
|
(324,787,092)
|
|
|
|
|
|
|
Total Ctrip's
shareholders' equity
|
71,536,834,710
|
|
74,186,335,287
|
|
10,777,884,600
|
|
|
|
|
|
|
Noncontrolling
interests
|
3,983,917,792
|
|
1,819,901,681
|
|
264,397,618
|
|
|
|
|
|
|
Total
shareholders' equity
|
75,520,752,502
|
|
76,006,236,968
|
|
11,042,282,218
|
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
144,413,901,668
|
|
145,941,586,825
|
|
21,202,578,281
|
Ctrip.com
International, Ltd.
|
Unaudited
Condensed Consolidated Statements of Comprehensive
Income
|
|
|
Quarter
Ended
|
|
Quarter
Ended
|
|
Quarter
Ended
|
|
Quarter
Ended
|
|
March
31, 2016
|
|
December
31, 2016
|
|
March
31, 2017
|
|
March
31, 2017
|
|
RMB
|
|
RMB
|
|
RMB
|
|
USD
|
|
|
|
|
|
|
|
|
|
(unaudited)
|
|
(unaudited)
|
|
(unaudited)
|
|
(unaudited)
|
|
|
|
|
|
|
|
|
Revenues:
|
|
|
|
|
|
|
|
Accommodation
reservation
|
1,614,031,154
|
|
1,847,501,104
|
|
2,069,936,145
|
|
300,722,941
|
Transportation
ticketing
|
1,949,003,126
|
|
2,446,350,221
|
|
2,875,375,346
|
|
417,738,166
|
Packaged
tour
|
556,495,540
|
|
466,510,925
|
|
701,832,134
|
|
101,963,060
|
Corporate
travel
|
115,632,061
|
|
179,055,911
|
|
144,481,666
|
|
20,990,479
|
Others
|
163,979,409
|
|
239,340,250
|
|
341,645,121
|
|
49,634,635
|
|
|
|
|
|
|
|
|
Total
revenues
|
4,399,141,290
|
|
5,178,758,411
|
|
6,133,270,412
|
|
891,049,281
|
|
|
|
|
|
|
|
|
Less: business tax
and related surcharges
|
(221,134,734)
|
|
(111,476,576)
|
|
(48,208,523)
|
|
(7,003,795)
|
|
|
|
|
|
|
|
|
Net
revenues
|
4,178,006,556
|
|
5,067,281,835
|
|
6,085,061,889
|
|
884,045,486
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
(1,135,944,483)
|
|
(1,126,360,012)
|
|
(1,189,306,790)
|
|
(172,783,994)
|
|
|
|
|
|
|
|
|
Gross
profit
|
3,042,062,073
|
|
3,940,921,823
|
|
4,895,755,099
|
|
711,261,492
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
Product development
*
|
(2,396,921,596)
|
|
(1,722,336,331)
|
|
(1,962,685,237)
|
|
(285,141,393)
|
Sales and marketing
*
|
(1,543,324,251)
|
|
(1,470,860,760)
|
|
(1,880,630,701)
|
|
(273,220,406)
|
General and
administrative *
|
(929,191,857)
|
|
(540,338,329)
|
|
(638,265,375)
|
|
(92,728,001)
|
|
|
|
|
|
|
|
|
Total operating
expenses
|
(4,869,437,704)
|
|
(3,733,535,420)
|
|
(4,481,581,313)
|
|
(651,089,800)
|
|
|
|
|
|
|
|
|
(Loss)/ income
from operations
|
(1,827,375,631)
|
|
207,386,403
|
|
414,173,786
|
|
60,171,692
|
|
|
|
|
|
|
|
|
Interest
income
|
190,697,649
|
|
126,421,150
|
|
130,280,136
|
|
18,927,263
|
Interest
expense
|
(158,107,727)
|
|
(219,680,448)
|
|
(260,257,970)
|
|
(37,810,607)
|
Other
income/(expense)
|
318,195,868
|
|
(286,715,547)
|
|
(88,401,074)
|
|
(12,843,020)
|
|
|
|
|
|
|
|
|
(Loss)/ income
before income tax expense and equity in income
|
(1,476,589,841)
|
|
(172,588,442)
|
|
195,794,878
|
|
28,445,328
|
|
|
|
|
|
|
|
|
Income tax
expense
|
(93,531,478)
|
|
(110,246,775)
|
|
(148,445,807)
|
|
(21,566,395)
|
Equity in (loss)/
income of affiliates
|
(107,909,642)
|
|
873,284,942
|
|
27,267,588
|
|
3,961,470
|
|
|
|
|
|
|
|
|
Net
(Loss)/income
|
(1,678,030,961)
|
|
590,449,725
|
|
74,616,659
|
|
10,840,403
|
|
|
|
|
|
|
|
|
Less: Net loss
attributable to noncontrolling interests
|
99,346,870
|
|
54,866,263
|
|
7,831,322
|
|
1,137,744
|
|
|
|
|
|
|
|
|
Net (Loss)/ income
attributable to Ctrip's shareholders
|
(1,578,684,091)
|
|
645,315,988
|
|
82,447,981
|
|
11,978,147
|
|
|
|
|
|
|
|
|
Comprehensive
(loss) /income attributable to Ctrip's
shareholders
|
(1,489,894,815)
|
|
1,276,906,894
|
|
1,233,112,187
|
|
179,148,098
|
|
|
|
|
|
|
|
|
Earnings per ordinary
share
|
|
|
|
|
|
|
|
- Basic
|
(27.90)
|
|
10.21
|
|
1.27
|
|
0.18
|
- Diluted
|
(27.90)
|
|
9.46
|
|
1.21
|
|
0.18
|
|
|
|
|
|
|
|
|
Earnings per
ADS
|
|
|
|
|
|
|
|
- Basic
|
(3.49)
|
|
1.28
|
|
0.16
|
|
0.02
|
- Diluted
|
(3.49)
|
|
1.18
|
|
0.15
|
|
0.02
|
|
|
|
|
|
|
|
|
Weighted average
ordinary shares outstanding
|
|
|
|
|
|
|
|
- Basic
|
56,591,142
|
|
63,194,669
|
|
64,940,107
|
|
64,940,107
|
- Diluted
|
56,591,142
|
|
69,583,733
|
|
68,483,538
|
|
68,483,538
|
|
|
|
|
|
|
|
|
* Share-based
compensation charges included are as follows:
|
|
|
|
|
|
|
|
Product
development
|
1,071,652,534
|
|
338,257,956
|
|
283,241,889
|
|
41,149,740
|
Sales and
marketing
|
184,425,162
|
|
68,550,655
|
|
48,779,212
|
|
7,086,706
|
General and
administrative
|
579,558,336
|
|
182,401,276
|
|
189,720,083
|
|
27,562,774
|
Ctrip.com
International, Ltd.
|
Reconciliation
of GAAP and Non-GAAP Results
|
(In RMB, except %
and per share information)
|
|
|
Quarter Ended
March 31, 2017
|
|
GAAP
Result
|
% of Net
Revenues
|
|
Share-based
Compensation
|
% of Net
Revenues
|
|
Non-GAAP
Result
|
% of Net
Revenues
|
|
|
|
|
|
|
|
|
|
Product
development
|
(1,962,685,237)
|
32%
|
|
283,241,889
|
5%
|
|
(1,679,443,348)
|
28%
|
Sales and
marketing
|
(1,880,630,701)
|
31%
|
|
48,779,212
|
1%
|
|
(1,831,851,489)
|
30%
|
General and
administrative
|
(638,265,375)
|
10%
|
|
189,720,083
|
3%
|
|
(448,545,292)
|
7%
|
Total operating
expenses
|
(4,481,581,313)
|
74%
|
|
521,741,184
|
9%
|
|
(3,959,840,129)
|
65%
|
|
|
|
|
|
|
|
|
|
Income from
operations
|
414,173,786
|
7%
|
|
521,741,184
|
9%
|
|
935,914,970
|
15%
|
|
|
|
|
|
|
|
|
|
Net income
attributable to Ctrip's shareholders
|
82,447,981
|
1%
|
|
521,741,184
|
9%
|
|
604,189,165
|
10%
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
1.21
|
|
|
7.54
|
|
|
8.75
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (RMB)
|
0.15
|
|
|
0.94
|
|
|
1.09
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (USD)
|
0.02
|
|
|
0.14
|
|
|
0.16
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
December 31, 2016
|
|
GAAP
Result
|
% of Net
Revenues
|
|
Share-based
Compensation
|
% of Net
Revenues
|
|
Non-GAAP
Result
|
% of Net
Revenues
|
|
|
|
|
|
|
|
|
|
Product
development
|
(1,722,336,331)
|
34%
|
|
338,257,956
|
7%
|
|
(1,384,078,375)
|
27%
|
Sales and
marketing
|
(1,470,860,760)
|
29%
|
|
68,550,655
|
1%
|
|
(1,402,310,105)
|
28%
|
General and
administrative
|
(540,338,329)
|
11%
|
|
182,401,276
|
4%
|
|
(357,937,053)
|
7%
|
Total operating
expenses
|
(3,733,535,420)
|
74%
|
|
589,209,887
|
12%
|
|
(3,144,325,533)
|
62%
|
|
|
|
|
|
|
|
|
|
Income from
operations
|
207,386,403
|
4%
|
|
589,209,887
|
12%
|
|
796,596,290
|
16%
|
|
|
|
|
|
|
|
|
|
Net income
attributable to Ctrip's shareholders
|
645,315,988
|
13%
|
|
589,209,887
|
12%
|
|
1,234,525,875
|
24%
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
9.46
|
|
|
8.47
|
|
|
17.93
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (RMB)
|
1.18
|
|
|
1.06
|
|
|
2.24
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (USD)
|
0.17
|
|
|
0.15
|
|
|
0.32
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
March 31, 2016
|
|
GAAP
Result
|
% of Net
Revenues
|
|
Share-based
Compensation
|
% of Net
Revenues
|
|
Non-GAAP
Result
|
% of Net
Revenues
|
|
|
|
|
|
|
|
|
|
Product
development
|
(2,396,921,596)
|
57%
|
|
1,071,652,534
|
26%
|
|
(1,325,269,062)
|
32%
|
Sales and
marketing
|
(1,543,324,251)
|
37%
|
|
184,425,162
|
4%
|
|
(1,358,899,089)
|
33%
|
General and
administrative
|
(929,191,857)
|
22%
|
|
579,558,336
|
14%
|
|
(349,633,521)
|
8%
|
Total operating
expenses
|
(4,869,437,704)
|
117%
|
|
1,835,636,032
|
44%
|
|
(3,033,801,672)
|
73%
|
|
|
|
|
|
|
|
|
|
Loss/(income) from
operations
|
(1,827,375,631)
|
-44%
|
|
1,835,636,032
|
44%
|
|
8,260,401
|
0%
|
|
|
|
|
|
|
|
|
|
Net loss/(income)
attributable to Ctrip's shareholders
|
(1,578,684,091)
|
-38%
|
|
1,835,636,032
|
44%
|
|
256,951,941
|
6%
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
(27.90)
|
|
|
32.44
|
|
|
4.54
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (RMB)
|
(3.49)
|
|
|
4.06
|
|
|
0.57
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (USD)
|
(0.54)
|
|
|
0.63
|
|
|
0.09
|
|
|
|
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=RMB6.8832 on March 31 2017
published by the Federal Reserve Board.
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ctrip-reports-unaudited-first-quarter-of-2017-financial-results-300455103.html
SOURCE Ctrip.com International, Ltd.