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 August 2017

 


 

Commission File Number: 001-33853

 


 

CTRIP.COM INTERNATIONAL, LTD.

 

968 Jin Zhong 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/Xiaofan Wang

 

Name

:

Xiaofan Wang

 

Title

:

Chief Financial Officer

 

 

 

 

 

 

 

 

Date: August 31, 2017

 

 

 

 

2



 

EXHIBIT INDEX

 

Exhibit No.

 

Description

99.1

 

Press release regarding Ctrip’s unaudited second quarter 2017 financial results

 

3


Exhibit 99.1

 

Ctrip Reports Unaudited Second Quarter of 2017 Financial Results

 

Shanghai, China, August 31, 2017 - 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.