SHANGHAI, Aug. 30, 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 second quarter
ended June 30, 2017.
Key Highlights
- Ctrip reported strong financial results in the second quarter
of 2017.
-
- Net revenue increased 45% year-on-year to RMB6.4 billion in the second quarter of
2017.
-
- The accommodation reservation business delivered healthy growth
in the second quarter of 2017, primarily driven 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 to the Ctrip group.
- Gross margin was 82% for the second quarter of 2017, improving
from 72% for the same quarter of 2016 and 80% for the previous
quarter, due to further efficiency gain
- Operating margin for the second quarter of 2017 was 10%.
Excluding share-based compensation charges, Non-GAAP operating
margin for the second quarter of 2017 was 18%, improving
significantly from 4% for the same quarter a year of 2016,
primarily driven by improvements in operating efficiency across the
board and synergies from the invested companies.
- The company has continued to strengthen its position in
lower-tier cities. Both new customer acquisition and user
engagement in lower-tier cities improved significantly in the
second quarter of 2017. Ctrip and Qunar have opened over 400
offline retail stores by the end of the quarter with approximately
200 more in the pipeline.
- Skyscanner has officially launched its "direct booking"
business, which introduces travelers to a seamless booking
experience. Conversion rates of mobile traffic for direct-booking
partners have increased by approximately 50%.
"We are pleased with the strong operating and financial results
in the second quarter." said Jane Jie
Sun, Chief Executive Officer. "Ctrip maintained healthy
revenue growth and achieved continual improvement in operating
efficiency. The group will remain focused on operating fundamentals
that create value for our customers and suppliers. We are confident
that Ctrip will generate long-term value for shareholders in the
years to come."
"The Ctrip group has made good progress in expanding into
lower-tier cities and increasing presence in international markets
in the first half of 2017," said James Jianzhang Liang, Executive
Chairman. "We will continue to invest in these markets and keep
improving our comprehensive product offering, providing superior
services and driving effective marketing to serve both domestic and
international customers."
Second Quarter of 2017 Financial Results and Business
Updates
For the second quarter of 2017, Ctrip reported net revenue of
RMB6.4 billion (US$946 million), representing a 45% increase from
the same period of 2016. Net revenue for the second quarter of 2017
increased 5% from the previous quarter.
Accommodation reservation revenue for the second quarter of 2017
were RMB2.3 billion (US$341 million), representing a 30% increase from
the same period of 2016, primarily driven by an increase in
accommodation reservation volume. Accommodation reservation revenue
for the second quarter of 2017 increased 12% from the previous
quarter, primarily due to seasonality.
Transportation ticketing revenue for the second quarter of 2017
were RMB3.0 billion (US$441 million), representing a 49% increase from
the same period of 2016, primarily driven by an increase in
ticketing volume and the consolidation of Skyscanner's financial
results since December 31, 2016.
Transportation ticketing revenue increased 4% from the previous
quarter, primarily due to seasonality.
Packaged-tour revenue for the second quarter of 2017 were
RMB612 million (US$90 million), representing a 29% increase from
the same period of 2016, primarily driven by an increase in volume
growth of organized tours and self-guided tours. Packaged-tour
revenue for the second quarter of 2017 decreased 13% from the
previous quarter, primarily due to seasonality for Chinese New Year in the first quarter.
Corporate travel revenue for the second quarter of 2017 were
RMB199 million (US$29 million), representing a 36% increase from
the same period of 2016, primarily driven by expansion in travel
product coverage. Corporate travel revenue for the second quarter
of 2017 increased 38% from the previous quarter, primarily due to
seasonality.
Gross margin was 82% for the second quarter of 2017, compared to
72% for the same period of 2016, and 80% for the previous
quarter.
Product development expenses for the second quarter of 2017
increased by 18% to RMB2.0 billion
(US$300 million) from the same period
of 2016, primarily due to an increase in product development
personnel related expenses. Product development expenses for the
second quarter of 2017 increased 4% from the previous quarter.
Product development expenses for the second quarter of 2017
accounted for 32% of the net revenue. Excluding share-based
compensation charges, Non-GAAP product development expenses for the
second quarter of 2017 accounted for 27% of the net revenue, which
decreased from 31% for the same period of 2016 and decreased from
28% for the previous quarter.
Sales and marketing expenses for the second quarter of 2017
increased by 49% to RMB2.0 billion
(US$295 million) from the same period
of 2016, primarily due to an increase in sales and marketing
related activities. Sales and marketing expenses for the second
quarter of 2017 increased 6% from the previous quarter. Sales and
marketing expenses for the second quarter of 2017 accounted for 31%
of the net revenue. Excluding share-based compensation charges,
Non-GAAP sales and marketing expenses for the second quarter of
2017 accounted for 30% of the net revenue, which increased from 29%
for the same period of 2016 and remained consistent with the
previous quarter.
General and administrative expenses for the second quarter of
2017 increased by 19% to RMB608
million (US$90 million) from
the same period of 2016, primarily due to an increase in general
and administrative personnel related expenses and consulting
expenses. General and administrative expenses for the second
quarter of 2017 decreased 5% from the previous quarter. General and
administrative expenses for the second quarter of 2017 accounted
for 9% of the net revenue. Excluding share-based compensation
charges, Non-GAAP general and administrative expenses accounted for
7% of the net revenue, which decreased from 8% for the same period
of 2016 and remained consistent with the previous quarter.
Income from operations for the second quarter of 2017 was
RMB645 million (US$95 million), compared to loss of RMB396 million for the same period of 2016 and
income of RMB414 million for the
previous quarter. Excluding share-based compensation charges,
Non-GAAP income from operations was RMB1.2
billion (US$173 million),
compared to RMB182 million for the
same period of 2016 and RMB936
million for the previous quarter.
Operating margin was 10% for the second quarter of 2017,
compared to -9% for the same period of 2016, and 7% for the
previous quarter. Excluding share-based compensation charges,
Non-GAAP operating margin was 18%, compared to 4% for the same
period of 2016 and 15% for the previous quarter.
Income tax expense for the second quarter of 2017 was
RMB529 million (US$78 million), compared to RMB53 million for the same period of 2016 and
RMB148 million for the previous
quarter. The change in the Group's effective tax rates is primarily
due to the change in profitability in the subsidiaries with
different tax rates and certain non-tax deductible losses including
the share based compensation.
Net income attributable to Ctrip's shareholders for the second
quarter of 2017 was RMB327 million
(US$48 million), compared to net loss
of RMB521 million for the same period
of 2016 and net income of RMB82
million for the previous quarter, primarily due to the net
gain recognized from a number of investing activities.
Diluted earnings per ADS were RMB0.59 (US$0.09)
for the second quarter of 2017. Excluding share-based compensation
charges, Non-GAAP diluted earnings per ADS were RMB1.49 (US$0.22)
for the second quarter of 2017.
As of June 30, 2017, the balance
of cash and cash equivalents, restricted cash and short-term
investment was RMB42 billion
(US$6 billion).
Business Outlook
For the third quarter of 2017, the Company expects the net
revenue growth to continue at a year-on-year rate of approximately
35-40%. 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
August 30, 2017 (or 8:00AM on August 31,
2017 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 twelve
months at this website.
The dial-in details for the live conference call: U.S. Toll Free
Number +1.800.219.3192, International dial-in number
+1.617.597.5412, Passcode 73775212#. For pre-registration, please
click https://www.theconferencingservice.com/prereg/key.process?key=PCRWLE6WB.
A telephone replay of the call will be available after the
conclusion of the conference call until September 6, 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 95039104.
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. 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 12229
Email: iremail@ctrip.com
Ctrip.com
International, Ltd.
|
Unaudited
Condensed Consolidated Balance Sheets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December
31, 2016
|
|
|
June
30, 2017
|
|
|
June
30, 2017
|
|
RMB
|
RMB
|
USD
|
|
|
|
|
|
|
|
|
|
|
|
(unaudited)
|
|
|
(unaudited)
|
|
|
(unaudited)
|
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
18,434,681,251
|
|
|
16,196,266,530
|
|
|
2,389,076,532
|
|
Restricted
cash
|
|
1,744,490,307
|
|
|
1,967,095,499
|
|
|
290,162,037
|
|
Short-term
investment
|
|
14,112,862,288
|
|
|
24,259,372,528
|
|
|
3,578,448,000
|
|
Accounts receivable,
net
|
|
4,624,818,322
|
|
|
5,266,699,517
|
|
|
776,879,548
|
|
Prepayments and other
current assets
|
|
6,994,589,672
|
|
|
7,096,517,421
|
|
|
1,046,792,061
|
|
|
|
|
|
|
|
|
|
|
|
Total current
assets
|
|
45,911,441,840
|
|
|
54,785,951,495
|
|
|
8,081,358,178
|
|
|
|
|
|
|
|
|
|
|
|
Long-term deposits
and prepayments
|
|
1,147,279,197
|
|
|
1,197,325,755
|
|
|
176,614,954
|
|
Land use
rights
|
|
99,544,772
|
|
|
98,153,068
|
|
|
14,478,349
|
|
Property, equipment
and software
|
|
5,591,960,081
|
|
|
5,647,530,298
|
|
|
833,055,079
|
|
Investment
|
|
20,532,822,365
|
|
|
22,166,556,356
|
|
|
3,269,741,176
|
|
Goodwill
|
|
56,015,185,590
|
|
|
56,218,081,472
|
|
|
8,292,608,599
|
|
Intangible
assets
|
|
13,924,769,931
|
|
|
13,736,713,759
|
|
|
2,026,273,178
|
|
Other long-term
receivable
|
|
815,586,298
|
|
|
427,828,839
|
|
|
63,108,114
|
|
Deferred tax assets,
non-current
|
|
375,311,594
|
|
|
403,491,741
|
|
|
59,518,201
|
|
|
|
|
|
|
|
|
|
|
|
Total
assets
|
|
144,413,901,668
|
|
|
154,681,632,783
|
|
|
22,816,755,828
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
|
|
|
Short-term
debt
|
|
6,887,309,589
|
|
|
10,587,149,173
|
|
|
1,561,687,663
|
|
Accounts
payable
|
|
7,278,791,082
|
|
|
7,029,505,820
|
|
|
1,036,907,324
|
|
Salary and welfare
payable
|
|
2,508,430,757
|
|
|
2,578,007,248
|
|
|
380,276,319
|
|
Taxes
payable
|
|
1,084,241,429
|
|
|
928,723,072
|
|
|
136,993,948
|
|
Advances from
customers
|
|
8,190,840,057
|
|
|
7,782,891,124
|
|
|
1,148,037,574
|
|
Accrued liability for
customer reward program
|
|
658,170,680
|
|
|
631,248,684
|
|
|
93,114,139
|
|
Other payables and
accruals
|
|
3,687,242,592
|
|
|
5,229,738,409
|
|
|
771,427,494
|
|
|
|
|
|
|
|
|
|
|
|
Total current
liabilities
|
|
30,295,026,186
|
|
|
34,767,263,530
|
|
|
5,128,444,461
|
|
|
|
|
|
|
|
|
|
|
|
Deferred tax
liabilities, non-current
|
|
3,607,882,808
|
|
|
3,536,174,707
|
|
|
521,613,545
|
|
Long-term
debt
|
|
34,650,673,553
|
|
|
35,595,921,305
|
|
|
5,250,677,991
|
|
Other long-term
liabilities
|
|
339,566,619
|
|
|
478,675,528
|
|
|
70,608,400
|
|
|
|
|
|
|
|
|
|
|
|
Total
liabilities
|
|
68,893,149,166
|
|
|
74,378,035,070
|
|
|
10,971,344,397
|
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
|
|
|
|
Share
capital
|
|
4,960,354
|
|
|
5,139,501
|
|
|
758,117
|
|
Additional paid-in
capital
|
|
65,819,998,701
|
|
|
70,425,644,869
|
|
|
10,388,335,797
|
|
Statutory
reserves
|
|
237,495,820
|
|
|
237,473,826
|
|
|
35,029,255
|
|
Accumulated other
comprehensive income
|
|
1,010,373,732
|
|
|
2,746,834,574
|
|
|
405,179,675
|
|
Retained
Earnings
|
|
6,699,580,613
|
|
|
7,108,900,663
|
|
|
1,048,618,687
|
|
Treasury
stock
|
|
(2,235,574,510)
|
|
|
(2,214,966,126)
|
|
|
(326,724,902)
|
|
|
|
|
|
|
|
|
|
|
|
Total Ctrip's
shareholders' equity
|
|
71,536,834,710
|
|
|
78,309,027,307
|
|
|
11,551,196,629
|
|
|
|
|
|
|
|
|
|
|
|
Noncontrolling
interests
|
|
3,983,917,792
|
|
|
1,994,570,406
|
|
|
294,214,802
|
|
|
|
|
|
|
|
|
|
|
|
Total
shareholders' equity
|
|
75,520,752,502
|
|
|
80,303,597,713
|
|
|
11,845,411,431
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
|
144,413,901,668
|
|
|
154,681,632,783
|
|
|
22,816,755,828
|
|
|
|
|
|
|
|
|
|
|
Ctrip.com
International, Ltd.
|
Unaudited
Condensed Consolidated Statements of Comprehensive
Income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter
Ended
|
|
|
Quarter
Ended
|
|
|
Quarter
Ended
|
|
|
Quarter
Ended
|
|
June
30, 2016
|
March
31, 2017
|
June
30, 2017
|
June
30, 2017
|
|
RMB
|
RMB
|
RMB
|
USD
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(unaudited)
|
|
|
(unaudited)
|
|
|
(unaudited)
|
|
|
(unaudited)
|
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
Accommodation
reservation
|
|
1,775,818,174
|
|
|
2,069,936,145
|
|
|
2,311,142,987
|
|
|
340,911,744
|
|
Transportation
ticketing
|
|
2,003,426,795
|
|
|
2,875,375,346
|
|
|
2,992,330,356
|
|
|
441,392,232
|
|
Packaged-tour
|
|
473,931,453
|
|
|
701,832,134
|
|
|
612,297,777
|
|
|
90,318,732
|
|
Corporate
travel
|
|
147,096,362
|
|
|
144,481,666
|
|
|
199,352,936
|
|
|
29,406,124
|
|
Others
|
|
142,119,432
|
|
|
341,645,121
|
|
|
346,439,294
|
|
|
51,102,517
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
revenue
|
|
4,542,392,216
|
|
|
6,133,270,412
|
|
|
6,461,563,350
|
|
|
953,131,349
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: business tax
and related surcharges
|
|
(131,107,435)
|
|
|
(48,208,523)
|
|
|
(45,794,149)
|
|
|
(6,754,997)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
revenue
|
|
4,411,284,781
|
|
|
6,085,061,889
|
|
|
6,415,769,201
|
|
|
946,376,352
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenue
|
|
(1,233,148,536)
|
|
|
(1,189,306,790)
|
|
|
(1,124,094,146)
|
|
|
(165,812,716)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
3,178,136,245
|
|
|
4,895,755,099
|
|
|
5,291,675,055
|
|
|
780,563,636
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Product development
*
|
|
(1,723,757,548)
|
|
|
(1,962,685,237)
|
|
|
(2,036,738,021)
|
|
|
(300,434,856)
|
|
Sales and marketing
*
|
|
(1,340,183,930)
|
|
|
(1,880,630,701)
|
|
|
(2,001,471,557)
|
|
|
(295,232,776)
|
|
General and
administrative *
|
|
(510,107,769)
|
|
|
(638,265,375)
|
|
|
(608,203,223)
|
|
|
(89,714,753)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating
expenses
|
|
(3,574,049,247)
|
|
|
(4,481,581,313)
|
|
|
(4,646,412,801)
|
|
|
(685,382,385)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/ income
from operations
|
|
(395,913,002)
|
|
|
414,173,786
|
|
|
645,262,254
|
|
|
95,181,251
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
|
150,858,298
|
|
|
130,280,136
|
|
|
249,426,782
|
|
|
36,792,410
|
|
Interest
expense
|
|
(162,964,862)
|
|
|
(260,257,970)
|
|
|
(383,446,788)
|
|
|
(56,561,413)
|
|
Other
(expense)/income
|
|
(30,423,035)
|
|
|
(88,401,074)
|
|
|
397,102,679
|
|
|
58,575,764
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/ income
before income tax expense and equity in income
|
|
(438,442,601)
|
|
|
195,794,878
|
|
|
908,344,927
|
|
|
133,988,012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax
expense
|
|
(52,984,311)
|
|
|
(148,445,807)
|
|
|
(529,202,309)
|
|
|
(78,061,497)
|
|
Equity in (loss)/
income of affiliates
|
|
(99,658,215)
|
|
|
27,267,588
|
|
|
(26,696,373)
|
|
|
(3,937,925)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
(loss)/income
|
|
(591,085,127)
|
|
|
74,616,659
|
|
|
352,446,245
|
|
|
51,988,590
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Net
loss/(income) attributable to noncontrolling interests
|
|
69,832,593
|
|
|
7,831,322
|
|
|
(25,574,176)
|
|
|
(3,772,392)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)/ income
attributable to Ctrip's shareholders
|
|
(521,252,534)
|
|
|
82,447,981
|
|
|
326,872,069
|
|
|
48,216,198
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive
(loss) /income attributable to Ctrip's
shareholders
|
|
(996,941,629)
|
|
|
1,233,112,187
|
|
|
912,668,705
|
|
|
134,625,803
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per ordinary
share
|
|
|
|
|
|
|
|
|
|
|
|
|
- Basic
|
|
(9.03)
|
|
|
1.27
|
|
|
4.97
|
|
|
0.73
|
|
- Diluted
|
|
(9.03)
|
|
|
1.21
|
|
|
4.72
|
|
|
0.70
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per
ADS
|
|
|
|
|
|
|
|
|
|
|
|
|
- Basic
|
|
(1.13)
|
|
|
0.16
|
|
|
0.62
|
|
|
0.09
|
|
- Diluted
|
|
(1.13)
|
|
|
0.15
|
|
|
0.59
|
|
|
0.09
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
ordinary shares outstanding
|
|
|
|
|
|
|
|
|
|
|
|
|
- Basic
|
|
57,716,573
|
|
|
64,940,107
|
|
|
65,743,078
|
|
|
65,743,078
|
|
- Diluted
|
|
57,716,573
|
|
|
68,483,538
|
|
|
69,361,680
|
|
|
69,361,680
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Share-based
compensation charges included are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
Product
development
|
|
345,176,289
|
|
|
283,241,889
|
|
|
305,271,403
|
|
|
45,029,930
|
|
Sales and
marketing
|
|
69,056,692
|
|
|
48,779,212
|
|
|
58,994,568
|
|
|
8,702,162
|
|
General and
administrative
|
|
163,806,574
|
|
|
189,720,083
|
|
|
163,592,798
|
|
|
24,131,223
|
Ctrip.com
International, Ltd.
|
Reconciliation
of GAAP and Non-GAAP Results
|
(In RMB, except %
and per share information)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended June
30, 2017
|
|
|
|
GAAP
Result
|
% of Net
revenue
|
|
Share-based
Compensation
|
% of Net
revenue
|
|
Non-GAAP
Result
|
% of Net
revenue
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product
development
|
(2,036,738,021)
|
32%
|
|
305,271,403
|
5%
|
|
(1,731,466,618)
|
27%
|
|
|
Sales and
marketing
|
(2,001,471,557)
|
31%
|
|
58,994,568
|
1%
|
|
(1,942,476,989)
|
30%
|
|
|
General and
administrative
|
(608,203,223)
|
9%
|
|
163,592,798
|
3%
|
|
(444,610,425)
|
7%
|
|
|
Total operating
expenses
|
(4,646,412,801)
|
72%
|
|
527,858,769
|
8%
|
|
(4,118,554,032)
|
64%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from
operations
|
645,262,254
|
10%
|
|
527,858,769
|
8%
|
|
1,173,121,023
|
18%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to Ctrip's shareholders
|
326,872,069
|
5%
|
|
527,858,769
|
8%
|
|
854,730,838
|
13%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
4.72
|
|
|
7.24
|
|
|
11.96
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (RMB)
|
0.59
|
|
|
0.90
|
|
|
1.49
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (USD)
|
0.09
|
|
|
0.13
|
|
|
0.22
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
March 31, 2017
|
|
|
|
GAAP
Result
|
% of Net
revenue
|
|
Share-based
Compensation
|
% of Net
revenue
|
|
Non-GAAP
Result
|
% of Net
revenue
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 June
30, 2016
|
|
|
|
GAAP
Result
|
% of Net
revenue
|
|
Share-based
Compensation
|
% of Net
revenue
|
|
Non-GAAP
Result
|
% of Net
revenue
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product
development
|
(1,723,757,548)
|
39%
|
|
345,176,289
|
8%
|
|
(1,378,581,259)
|
31%
|
|
|
Sales and
marketing
|
(1,340,183,930)
|
30%
|
|
69,056,692
|
2%
|
|
(1,271,127,238)
|
29%
|
|
|
General and
administrative
|
(510,107,769)
|
12%
|
|
163,806,574
|
4%
|
|
(346,301,195)
|
8%
|
|
|
Total operating
expenses
|
(3,574,049,247)
|
81%
|
|
578,039,555
|
13%
|
|
(2,996,009,692)
|
68%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss/(income) from
operations
|
(395,913,002)
|
-9%
|
|
578,039,555
|
13%
|
|
182,126,553
|
4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss/(income)
attributable to Ctrip's shareholders
|
(521,252,534)
|
-12%
|
|
578,039,555
|
13%
|
|
56,787,021
|
1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
(9.03)
|
|
|
10.01
|
|
|
0.98
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (RMB)
|
(1.13)
|
|
|
1.25
|
|
|
0.12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (USD)
|
(0.17)
|
|
|
0.19
|
|
|
0.02
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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=RMB6.7793 on June 30 2017
published
by the Federal Reserve Board.
|
|
View original
content:http://www.prnewswire.com/news-releases/ctrip-reports-unaudited-second-quarter-of-2017-financial-results-300511413.html
SOURCE Ctrip.com International, Ltd.