UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of November 2013

 


 

Commission File Number: 001-33853

 


 

CTRIP.COM INTERNATIONAL, LTD.

 

99 Fu Quan Road

Shanghai 200335, People’s Republic of China

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F x                Form 40-F o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

 

 

 



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

CTRIP.COM INTERNATIONAL, LTD.

 

 

 

 

 

By

:

/s/ Cindy Xiaofan Wang

 

Name

:

Cindy Xiaofan Wang

 

Title

:

Chief Financial Officer

 

 

 

 

Date: November 6, 2013

 

 

2



 

EXHIBIT INDEX

 

Exhibit No.

 

Description

 

 

 

99.1

 

Press release regarding Ctrip’s unaudited third quarter 2013 financial results

 

3


Exhibit 99.1

 

Ctrip Reports Third Quarter 2013 Financial Results

 

Shanghai, China, November 5, 2013 - Ctrip.com International, Ltd. (Nasdaq: CTRP), a leading travel service provider of hotel accommodations, ticketing services, packaged tours and corporate travel management in China, today announced its unaudited financial results for the third quarter ended September 30, 2013.

 

Highlights for the Third Quarter of 2013

 

·                      Net revenues were RMB1.5 billion (US$252 million) for the third quarter of 2013, up 31% year-on-year.

 

·                      Gross margin was 75% for the third quarter of 2013, compared to 76% in the same period of 2012.

 

·                      Income from operations was RMB300 million (US$49 million) for the third quarter of 2013, up 58% year-on-year. Excluding share-based compensation charges (non-GAAP), income from operations was RMB408 million (US$67 million), up 37% year-on-year.

 

·                      Operating margin was 19% for the third quarter of 2013, compared to 16% in the same period of 2012. Excluding share-based compensation charges (non-GAAP), operating margin was 27%, compared to 25% in the same period of 2012.

 

·                      Net income attributable to Ctrip’s shareholders was RMB373 million (US$61 million) in the third quarter of 2013, up 92% year-on-year. Excluding share-based compensation charges (non-GAAP), net income attributable to Ctrip’s shareholders was RMB482 million (US$79 million), up 59% year-on-year.

 

·                      Diluted earnings per ADS were RMB2.44 (US$0.40) for the third quarter of 2013. Excluding share-based compensation charges (non-GAAP), diluted earnings per ADS were RMB3.14 (US$0.51) for the third quarter of 2013.

 

·                      Share-based compensation charges were RMB109 million (US$18 million), accounting for 7% of the net revenues, or RMB0.70 (US$0.11) per ADS for the third quarter of 2013.

 

“We are excited to report great results in the third quarter of 2013,” said James Liang, Chairman of the Board and Chief Executive Officer of Ctrip. “We achieved strong growth in our major businesses and just recently saw the daily transaction value from Ctrip’s mobile channels reach a record of RMB 100 million. We expect mobile to become Ctrip’s most important booking platform in the near future, and we will continue to extend our leadership in the online and mobile travel markets in China.”

 

Third Quarter 2013 Financial Results and Business Updates

 

For the third quarter of 2013, Ctrip reported total revenues of RMB1.6 billion (US$268 million), representing a 32% increase from the same period of 2012. Total revenues for the third quarter of 2013 increased by 24% from the previous quarter.

 

Hotel reservation revenues amounted to RMB611 million (US$100 million) for the third quarter of 2013, representing a 34% increase year-on-year, primarily driven by an increase of 40% in hotel reservation volume and partially offset by the decrease of commission per room night. Hotel reservation revenues increased by 20% quarter-on-quarter, primarily driven by hotel reservation volume growth.

 



 

Ticketing services revenues for the third quarter of 2013 were RMB604 million (US$99 million), representing a 26% increase year-on-year, primarily driven by an increase of 31% in air ticketing sales volume and partially offset by the decrease of commission per ticket. Ticketing services revenues increased 16% quarter-on-quarter, primarily driven by air ticketing sales volume growth.

 

Packaged-tour revenues for the third quarter of 2013 were RMB320 million (US$52 million), representing a 43% increase year-on-year due to the increase of leisure travel volume. Packaged-tour revenues increased 71% quarter-on-quarter, primarily due to seasonality.

 

Corporate travel revenues for the third quarter of 2013 were RMB72 million (US$12 million), representing a 33% increase year-on-year, primarily driven by the increased corporate travel demand from business activities. Corporate travel revenues increased 9% quarter-on-quarter, primarily due to seasonality.

 

For the third quarter of 2013, net revenues were RMB1.5 billion (US$252 million), representing a 31% increase from the same period of 2012. Net revenues for the third quarter of 2013 increased by 24% from the previous quarter.

 

Gross margin was 75% in the third quarter of 2013, compared to 76% in the same period of 2012 and remained consistent with that in the previous quarter.

 

Product development expenses for the third quarter of 2013 increased by 38% to RMB335 million (US$55 million) from the same period of 2012 and by 8% from the previous quarter, primarily due to an increase in product development personnel related expense. Excluding share-based compensation charges (non-GAAP), product development expenses accounted for 20% of the net revenues, increased from 18% in the same period of 2012 and decreased from 22% in the previous quarter.

 

Sales and marketing expenses for the third quarter of 2013 increased by 17% to RMB355 million (US$58 million) from the same period in 2012 and by 31% from the previous quarter, primarily due to an increase in sales and marketing related activities. Excluding share-based compensation charges (non-GAAP), sales and marketing expenses accounted for 22% of the net revenues, decreased from 25% in the same period of 2012 and increased from 21% in the previous quarter.

 

General and administrative expenses for the third quarter of 2013 increased by 14% to RMB172 million (US$28 million) from the same period in 2012 and 9% from the previous quarter, primarily due to an increase in administrative related expenses. Excluding share-based compensation charges (non-GAAP), general and administrative expenses accounted for 7% of the net revenues, decreased from 8% in the same period of 2012 and in the previous quarter.

 

Income from operations for the third quarter of 2013 was RMB300 million (US$49 million), representing an increase of 58% from the same period in 2012 and an increase of 53% from the previous quarter. Excluding share-based compensation charges (non-GAAP), income from operations was RMB408 million (US$67 million), representing an increase of 37% from the same period in 2012 and an increase of 33% from the previous quarter.

 



 

Operating margin was 19% in the third quarter of 2013, compared to 16% in the same period of 2012 and in the previous quarter. Excluding share-based compensation charges (non-GAAP), operating margin was 27%, increased from 25% in the same period of 2012 and in the previous quarter.

 

The effective tax rate for the third quarter of 2013 was 22%, decreased from 24% in the same period of 2012 and 27% in the previous quarter, primarily due to the decrease in the amount of non tax-deductible share-based compensation as a percentage to our income as a whole.

 

Net income attributable to Ctrip’s shareholders for the third quarter of 2013 was RMB373 million (US$61 million), representing an increase of 92% from the same period in 2012 and an increase of 77% from the previous quarter. Excluding share-based compensation charges (non-GAAP), net income attributable to Ctrip’s shareholders was RMB482 million (US$79 million), representing an increase of 59% from the same period in 2012 and 50% from the previous quarter.

 

Diluted earnings per ADS were RMB2.44 (US$0.40) for the third quarter of 2013. Excluding share-based compensation charges (non-GAAP), diluted earnings per ADS were RMB3.14 (US$0.51) for the third quarter of 2013.

 

As of September 30, 2013, the balance of cash and cash equivalents, restricted cash and short-term investment was RMB6.7 billion (US$1.1 billion).

 

Business Outlook

 

For the fourth quarter of 2013, the Company expects to continue the net revenue growth year-on-year at a rate of approximately 20-25%. This forecast reflects Ctrip’s current and preliminary view, which is subject to change.

 

Subsequent Events

 

In October 2013, Ctrip completed the offering of US$800 million principal amount of convertible senior notes due 2018 (the “notes”). The notes bear an annual interest of 1.25%. The notes will be convertible into Ctrip’s ADSs at the option of the holders, based on an initial conversion rate of 12.7568 of the Company’s ADSs per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately US$78.39 per ADS), which represents an approximately 42.5 % conversion premium over the closing trading price of the Company’s ADSs on October 10, 2013, the date when the offering was priced.

 

Management Promotions

 

Ctrip today announced the promotion of Ms. Jenny Wenjie Wu, the current Chief Financial Officer of the Company, to be Chief Strategy Officer in charge of new business development, investor relations and certain other related functions, and the promotion of Ms. Cindy Xiaofan Wang, the current Finance Vice President, to be Chief Financial Officer of the Company in charge of finance, overseas business operation and certain other related functions.

 



 

Conference Call

 

Ctrip’s management team will host a conference call at 7:00PM U.S. Eastern Time on November 5, 2013 (or 8:00AM on November 6, 2013 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 +1.800.219.3192, International dial-in number +1.617.597.5412, Passcode 179 652 61#. For pre-registration, please click

 

https://www.theconferencingservice.com/prereg/key.process?key=PU7DLU9CY.

 

A telephone replay of the call will be available after the conclusion of the conference call until November 13, 2013. 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 86974702#.

 

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 on Forms 20-F and 6-K, etc., 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. Statements that are not historical facts, including statements about Ctrip’s beliefs and expectations, are 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 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 is adjusted from the most comparable GAAP result to exclude the share-based compensation charges recorded under ASC 718, “Compensation-Stock Compensation” for 2013 and 2012. 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 hotel accommodations, ticketing services, packaged tours, and corporate travel management in China. Ctrip aggregates hotel and flight information to enable business and leisure travelers to make informed and cost-effective bookings. Ctrip also helps customers book vacation packages and guided tours. In addition, Ctrip corporate travel management services help 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 12928

Email: iremail@ctrip.com

 



 

Ctrip.com International, Ltd.

Unaudited Condensed Consolidated Balance Sheets

 

 

 

December 31, 2012

 

September 30, 2013

 

September 30, 2013

 

 

 

RMB

 

RMB

 

USD

 

 

 

(unaudited)

 

(unaudited)

 

(unaudited)

 

 

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

Cash and cash equivalents

 

3,421,532,962

 

3,074,316,806

 

502,339,347

 

Restricted cash

 

768,228,577

 

739,168,630

 

120,779,188

 

Short-term investment

 

1,408,664,335

 

2,910,609,793

 

475,589,835

 

Accounts receivable, net

 

983,804,403

 

1,552,182,097

 

253,624,526

 

Prepayments and other current assets

 

999,148,710

 

1,820,705,017

 

297,500,822

 

Deferred tax assets, current

 

61,840,526

 

98,208,774

 

16,047,185

 

 

 

 

 

 

 

 

 

Total current assets

 

7,643,219,513

 

10,195,191,117

 

1,665,880,903

 

 

 

 

 

 

 

 

 

Long-term deposits and prepayments

 

210,618,310

 

226,604,505

 

37,026,880

 

Land use rights

 

110,659,284

 

108,224,205

 

17,683,694

 

Property, equipment and software

 

1,123,937,191

 

1,367,988,034

 

223,527,457

 

Investment

 

1,437,247,949

 

1,528,385,821

 

249,736,245

 

Goodwill

 

822,585,341

 

944,779,314

 

154,375,705

 

Intangible assets

 

321,483,420

 

358,219,821

 

58,532,650

 

 

 

 

 

 

 

 

 

Total assets

 

11,669,751,008

 

14,729,392,817

 

2,406,763,534

 

 

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

Short-term borrowings

 

453,478,628

 

536,996,185

 

87,744,475

 

Accounts payable

 

1,023,672,151

 

1,595,409,419

 

260,687,814

 

Salary and welfare payable

 

229,969,924

 

291,426,203

 

47,618,661

 

Taxes payable

 

216,456,010

 

317,400,093

 

51,862,760

 

Advances from customers

 

1,414,865,769

 

1,932,614,867

 

315,786,743

 

Accrued liability for customer reward program

 

217,548,153

 

263,195,944

 

43,005,873

 

Other payables and accruals

 

354,153,607

 

662,629,058

 

108,272,722

 

 

 

 

 

 

 

 

 

Total current liabilities

 

3,910,144,242

 

5,599,671,769

 

914,979,048

 

 

 

 

 

 

 

 

 

Deferred tax liabilities, non-current

 

53,309,153

 

63,206,572

 

10,327,871

 

Long-term Debt

 

1,121,418,000

 

1,101,600,000

 

180,000,000

 

 

 

 

 

 

 

 

 

Total liabilities

 

5,084,871,395

 

6,764,478,341

 

1,105,306,919

 

 

 

 

 

 

 

 

 

SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

Share capital

 

2,979,144

 

3,023,467

 

494,031

 

Additional paid-in capital

 

3,818,256,227

 

4,307,320,186

 

703,810,488

 

Statutory reserves

 

103,222,512

 

103,222,512

 

16,866,424

 

Accumulated other comprehensive loss

 

(58,778,675

)

(14,238,203

)

(2,326,504

)

Retained Earnings

 

4,515,841,767

 

5,252,682,050

 

858,281,381

 

Treasury stock

 

(1,891,888,900

)

(1,891,888,900

)

(309,132,173

)

 

 

 

 

 

 

 

 

Total Ctrip’s shareholders’ equity

 

6,489,632,075

 

7,760,121,112

 

1,267,993,647

 

 

 

 

 

 

 

 

 

Noncontrolling interests

 

95,247,538

 

204,793,364

 

33,462,968

 

 

 

 

 

 

 

 

 

Total shareholders’ equity

 

6,584,879,613

 

7,964,914,476

 

1,301,456,615

 

 

 

 

 

 

 

 

 

Total liabilities and shareholders’ equity

 

11,669,751,008

 

14,729,392,817

 

2,406,763,534

 

 



 

 

Ctrip.com International, Ltd.

Unaudited Condensed Consolidated Statements of Comprehensive Income

 

 

 

Quarter Ended

 

Quarter Ended

 

Quarter Ended

 

Quarter Ended

 

 

 

September 30, 2012

 

June 30, 2013

 

September 30, 2013

 

September 30, 2013

 

 

 

RMB

 

RMB

 

RMB

 

USD

 

 

 

(unaudited)

 

(unaudited)

 

(unaudited)

 

(unaudited)

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

Hotel reservation

 

457,041,173

 

510,977,850

 

610,653,418

 

99,779,970

 

Ticketing services **

 

478,367,942

 

522,013,771

 

604,272,344

 

98,737,311

 

Packaged tour

 

223,779,798

 

187,024,425

 

319,566,156

 

52,216,692

 

Corporate travel

 

54,073,606

 

65,944,003

 

71,852,907

 

11,740,671

 

Others

 

34,085,035

 

34,190,294

 

34,141,394

 

5,578,659

 

 

 

 

 

 

 

 

 

 

 

Total revenues

 

1,247,347,554

 

1,320,150,343

 

1,640,486,219

 

268,053,303

 

 

 

 

 

 

 

 

 

 

 

Less: business tax and related surcharges

 

(74,345,010

)

(75,294,640

)

(99,510,607

)

(16,259,903

)

 

 

 

 

 

 

 

 

 

 

Net revenues

 

1,173,002,544

 

1,244,855,703

 

1,540,975,612

 

251,793,400

 

 

 

 

 

 

 

 

 

 

 

Cost of revenues

 

(285,960,720

)

(309,111,062

)

(379,121,709

)

(61,947,992

)

 

 

 

 

 

 

 

 

 

 

Gross profit

 

887,041,824

 

935,744,641

 

1,161,853,903

 

189,845,408

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

Product development *

 

(243,244,924

)

(309,851,724

)

(335,461,829

)

(54,814,024

)

Sales and marketing *

 

(302,596,451

)

(271,244,149

)

(354,501,850

)

(57,925,139

)

General and administrative *

 

(151,107,619

)

(158,708,095

)

(172,348,825

)

(28,161,573

)

 

 

 

 

 

 

 

 

 

 

Total operating expenses

 

(696,948,994

)

(739,803,968

)

(862,312,504

)

(140,900,736

)

 

 

 

 

 

 

 

 

 

 

Income from operations

 

190,092,830

 

195,940,673

 

299,541,399

 

48,944,672

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

54,099,884

 

43,062,336

 

52,612,266

 

8,596,775

 

Other income

 

6,104,967

 

24,056,241

 

67,808,945

 

11,079,893

 

 

 

 

 

 

 

 

 

 

 

Income before income tax expense and equity in income

 

250,297,681

 

263,059,250

 

419,962,610

 

68,621,340

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

(59,394,448

)

(70,419,098

)

(92,166,420

)

(15,059,873

)

Equity in (loss)/income of affiliates

 

4,792,055

 

(4,525,873

)

24,740,697

 

4,042,598

 

 

 

 

 

 

 

 

 

 

 

Net income

 

195,695,288

 

188,114,279

 

352,536,887

 

57,604,065

 

 

 

 

 

 

 

 

 

 

 

Less: Net (income)/loss attributable to noncontrolling interests

 

(1,878,491

)

22,266,815

 

20,450,829

 

3,341,639

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Ctrip’s shareholders

 

193,816,797

 

210,381,094

 

372,987,716

 

60,945,704

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income

 

365,152,591

 

208,157,307

 

443,127,464

 

72,406,448

 

 

 

 

 

 

 

 

 

 

 

Earnings per ordinary share

 

 

 

 

 

 

 

 

 

- Basic

 

5.82

 

6.44

 

11.34

 

1.85

 

- Diluted

 

5.65

 

5.88

 

9.74

 

1.59

 

 

 

 

 

 

 

 

 

 

 

Earnings per ADS

 

 

 

 

 

 

 

 

 

- Basic

 

1.46

 

1.61

 

2.84

 

0.46

 

- Diluted

 

1.41

 

1.47

 

2.44

 

0.40

 

 

 

 

 

 

 

 

 

 

 

Weighted average ordinary shares outstanding

 

 

 

 

 

 

 

 

 

- Basic

 

33,287,150

 

32,677,730

 

32,887,276

 

32,887,276

 

- Diluted

 

34,283,839

 

36,573,910

 

38,745,348

 

38,745,348

 

 

 

 

 

 

 

 

 

 

 

* Share-based compensation charges included are as follows:

 

 

 

 

 

 

 

 

 

Product development

 

33,671,462

 

35,003,222

 

34,621,728

 

5,657,145

 

Sales and marketing

 

14,028,219

 

12,325,365

 

11,917,951

 

1,947,378

 

General and administrative

 

60,789,858

 

63,838,858

 

62,359,499

 

10,189,461

 

 


** Ticketing services revenues mainly represent revenues from reservations of air tickets, railway tickets and other related services.

 



 

Ctrip.com International, Ltd.

Reconciliation of GAAP and Non-GAAP Results

(In RMB, except % and per share information)

 

 

 

Quarter Ended September 30, 2013

 

 

 

GAAP Result

 

% of Net
Revenues

 

Share-based
Compensation

 

% of Net
Revenues

 

Non-GAAP
Result

 

% of Net
Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Product development

 

(335,461,829

)

22

%

34,621,728

 

2

%

(300,840,101

)

20

%

Sales and marketing

 

(354,501,850

)

23

%

11,917,951

 

1

%

(342,583,899

)

22

%

General and administrative

 

(172,348,825

)

11

%

62,359,499

 

4

%

(109,989,326

)

7

%

Total operating expenses

 

(862,312,504

)

56

%

108,899,178

 

7

%

(753,413,326

)

49

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

299,541,399

 

19

%

108,899,178

 

7

%

408,440,577

 

27

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Ctrip’s shareholders

 

372,987,716

 

24

%

108,899,178

 

7

%

481,886,894

 

31

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per ordinary share (RMB)

 

9.74

 

 

 

2.81

 

 

 

12.55

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per ADS (RMB)

 

2.44

 

 

 

0.70

 

 

 

3.14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per ADS (USD)

 

0.40

 

 

 

0.11

 

 

 

0.51

 

 

 

 

 

 

Quarter Ended June 30, 2013

 

 

 

GAAP Result

 

% of Net
Revenues

 

Share-based
Compensation

 

% of Net
Revenues

 

Non-GAAP
Result

 

% of Net
Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Product development

 

(309,851,724

)

25

%

35,003,222

 

3

%

(274,848,502

)

22

%

Sales and marketing

 

(271,244,149

)

22

%

12,325,365

 

1

%

(258,918,784

)

21

%

General and administrative

 

(158,708,095

)

13

%

63,838,858

 

5

%

(94,869,237

)

8

%

Total operating expenses

 

(739,803,968

)

59

%

111,167,445

 

9

%

(628,636,523

)

50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

195,940,673

 

16

%

111,167,445

 

9

%

307,108,118

 

25

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Ctrip’s shareholders

 

210,381,094

 

17

%

111,167,445

 

9

%

321,548,539

 

26

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per ordinary share (RMB)

 

5.88

 

 

 

3.04

 

 

 

8.92

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per ADS (RMB)

 

1.47

 

 

 

0.76

 

 

 

2.23

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per ADS (USD)

 

0.24

 

 

 

0.12

 

 

 

0.36

 

 

 

 

 

 

Quarter Ended September 30, 2012

 

 

 

GAAP Result

 

% of Net
Revenues

 

Share-based
Compensation

 

% of Net
Revenues

 

Non-GAAP
Result

 

% of Net
Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Product development

 

(243,244,924

)

21

%

33,671,462

 

3

%

(209,573,462

)

18

%

Sales and marketing

 

(302,596,451

)

26

%

14,028,219

 

1

%

(288,568,232

)

25

%

General and administrative

 

(151,107,619

)

13

%

60,789,858

 

5

%

(90,317,761

)

8

%

Total operating expenses

 

(696,948,994

)

59

%

108,489,539

 

9

%

(588,459,455

)

50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

190,092,830

 

16

%

108,489,539

 

9

%

298,582,369

 

25

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Ctrip’s shareholders

 

193,816,797

 

17

%

108,489,539

 

9

%

302,306,336

 

26

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per ordinary share (RMB)

 

5.65

 

 

 

3.16

 

 

 

8.82

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per ADS (RMB)

 

1.41

 

 

 

0.79

 

 

 

2.20

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per ADS (USD)

 

0.22

 

 

 

0.13

 

 

 

0.35

 

 

 

 

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=RMB6.1200 on September 30, 2013 published by the Federal Reserve Board.