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 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: November 2, 2017

 

2



 

EXHIBIT INDEX

 

Exhibit No. 

 

Description

99.1

 

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

 

3


Exhibit 99.1

 

Ctrip Reports Unaudited Third Quarter of 2017 Financial Results

 

Shanghai, China, November 1, 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 third quarter ended September 30, 2017.

 

Key Highlights

 

·                                Ctrip reported strong financial results in the third quarter of 2017.

 

·                      Net revenue increased 42% year-on-year to RMB7.9 billion in the third quarter of 2017.

 

·                  Accommodation reservation revenue for the third quarter of 2017 increased 36% year-on-year, primarily driven by an increase in the accommodation reservation volume.

 

·                      Gross margin was 83% for the third quarter of 2017, improving from 78% for the same period of 2016 and 82% for the second quarter of 2017, due to further efficiency gain.

 

·                      Operating margin for the third quarter of 2017 was 17%. Excluding share-based compensation charges, Non-GAAP operating margin for the third quarter of 2017 was 22%, improving from 18% for the same period of 2016, primarily driven by improvements in overall operating efficiency and synergies from the invested companies.

 

·                                The Company has continued to strengthen its leading position in lower-tier cities.

 

·                      In the third quarter of 2017, Ctrip brand’s average DAU grew over 60% year-over-year in second-tier cities.

 

·                      Qunar’s hotel revenue in the third- and fourth-tier cities has maintained over 80% growth rates in three consecutive quarters this year.

 

·                      In the third quarter of 2017, Ctrip and Qunar opened 100 offline stores across China and we will continue to expand our store network going forward.

 

·                                Ctrip’s international businesses have sustained robust growth momentum.

 

·                      International air ticketing maintained robust volume growth in the third quarter of 2017, and the tickets sold by our International Business Unit continued to grow impressively at a triple-digit percentage rate.

 

“We are pleased to deliver another quarter of solid results.” said Jane Sun, Chief Executive Officer. “The investments we’ve made in products, services and technologies cement an unrivaled value proposition for our customers and supply chain partners. Customer-centricity is a core value and we will continue to diligently uphold it.”

 

“Ctrip’s foundation is based on travel innovation, one-stop experience and best in class 24/7 service,” said James Liang, Executive Chairman. “The growth we’ve delivered through the years has been tremendous yet we’re still only touching the tip of the whole travel opportunity. Our successful track record and our ability to stay inquisitive and innovative will further solidify our competitive moat.”

 



 

Third Quarter of 2017 Financial Results and Business Updates

 

For the third quarter of 2017, Ctrip reported net revenue of RMB7.9 billion (US$1.2 billion), representing a 42% increase from the same period of 2016. Net revenue for the third quarter of 2017 increased 23% from the previous quarter.

 

Accommodation reservation revenue for the third quarter of 2017 was RMB2.8 billion (US$424 million), representing a 36% increase from the same period of 2016, primarily driven by an increase in accommodation reservation volume. Accommodation reservation revenue for the third quarter of 2017 increased 22% from the previous quarter, primarily driven by an increase in accommodation reservation volume and seasonality.

 

Transportation ticketing revenue for the third quarter of 2017 was RMB3.4 billion (US$515 million), representing a 41% 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 15% from the previous quarter, primarily due to an increase in ticketing volume and seasonality.

 

Packaged-tour revenue for the third quarter of 2017 was RMB1.0 billion (US$155 million), representing a 27% 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 third quarter of 2017 increased 69% from the previous quarter, primarily due to seasonality.

 

Corporate travel revenue for the third quarter of 2017 was RMB203 million (US$30 million), representing a 22% increase from the same period of 2016, primarily driven by expansion in travel product coverage. Corporate travel revenue for the third quarter of 2017 increased 2% from the previous quarter.

 

Gross margin was 83% for the third quarter of 2017, compared to 78% for the same period of 2016, and 82% for the previous quarter.

 

Product development expenses for the third quarter of 2017 increased by 18% to RMB2.2 billion (US$328 million) from the same period of 2016, primarily due to an increase in product development personnel related expenses. Product development expenses for the third quarter of 2017 increased 7% from the previous quarter. Product development expenses for the third quarter of 2017 accounted for 28% of the net revenue. Excluding share-based compensation charges, Non-GAAP product development expenses for the third quarter of 2017 accounted for 25% of the net revenue, which decreased from 27% for the same period of 2016 and the previous quarter.

 

Sales and marketing expenses for the third quarter of 2017 increased by 58% to RMB2.4 billion (US$357 million) from the same period of 2016, primarily due to an increase in sales and marketing related activities. Sales and marketing expenses for the third quarter of 2017 increased 19% from the previous quarter. Sales and marketing expenses for the third quarter of 2017 accounted for 30% of the net revenue. Excluding share-based compensation charges, Non-GAAP sales and marketing expenses for the third quarter of 2017 accounted for 30% of the net revenue, which increased from 26% for the same period of 2016 and remained consistent with the previous quarter.

 



 

General and administrative expenses for the third quarter of 2017 increased by 25% to RMB674 million (US$101 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 third quarter of 2017 increased 11% from the previous quarter. General and administrative expenses for the third 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 remained consistent with the same period of 2016 and the previous quarter.

 

Income from operations for the third quarter of 2017 was RMB1.4 billion (US$204 million), compared to income of RMB447 million for the same period of 2016 and income of RMB645 million for the previous quarter. Excluding share-based compensation charges, Non-GAAP income from operations was RMB1.7 billion (US$262 million), compared to RMB1.0 billion for the same period of 2016 and RMB1.2 billion for the previous quarter.

 

Operating margin was 17% for the third quarter of 2017, compared to 8% for the same period of 2016, and 10% for the previous quarter. Excluding share-based compensation charges, Non-GAAP operating margin was 22%, compared to 18% for the same period of 2016 and 18% for the previous quarter.

 

Income tax expense for the third quarter of 2017 was RMB313 million (US$47 million), compared to RMB221 million for the same period of 2016 and RMB529 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 third quarter of 2017 was RMB1.2 billion (US$185 million), compared to net income of RMB24 million for the same period of 2016 and net income of RMB327 million for the previous quarter.

 

Diluted earnings per ADS were RMB2.10 (US$0.32) for the third quarter of 2017. Excluding share-based compensation charges, Non-GAAP diluted earnings per ADS were RMB2.70 (US$0.41) for the third quarter of 2017.

 

As of September 30, 2017, the balance of cash and cash equivalents, restricted cash and short-term investment was RMB47 billion (US$7 billion).

 

Business Outlook

 

For the fourth quarter of 2017, the Company expects the net revenue growth to continue at a year-on-year rate of approximately 25-30%. 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 November 1, 2017 (or 8:00AM on November 2, 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 +1.888.268.4180, International dial-in number +1.617.597.5485, Passcode 731 941 24#. For pre-registration, please click

 

https://www.theconferencingservice.com/prereg/key.process?key=PU4LBP6UX.

 

A telephone replay of the call will be available after the conclusion of the conference call until November 9, 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 32849003.

 

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

 

September 30, 2017

 

September 30, 2017

 

 

 

RMB

 

RMB

 

USD

 

 

 

(unaudited)

 

(unaudited)

 

(unaudited)

 

ASSETS

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

Cash and cash equivalents

 

18,434,681,251

 

18,323,479,861

 

2,754,043,837

 

Restricted cash

 

1,744,490,307

 

2,024,575,239

 

304,296,400

 

Short-term investment

 

14,112,862,288

 

27,062,816,401

 

4,067,577,954

 

Accounts receivable, net

 

4,624,818,322

 

5,855,141,594

 

880,035,711

 

Prepayments and other current assets

 

6,994,589,672

 

9,975,341,849

 

1,499,307,389

 

 

 

 

 

 

 

 

 

Total current assets

 

45,911,441,840

 

63,241,354,944

 

9,505,261,291

 

 

 

 

 

 

 

 

 

Long-term deposits and prepayments

 

1,147,279,197

 

847,546,564

 

127,387,396

 

Land use rights

 

99,544,772

 

97,457,215

 

14,647,951

 

Property, equipment and software

 

5,591,960,081

 

5,631,471,625

 

846,417,811

 

Investment

 

20,532,822,365

 

22,609,358,318

 

3,398,217,173

 

Goodwill

 

56,015,185,590

 

56,265,595,482

 

8,456,795,197

 

Intangible assets

 

13,924,769,931

 

13,790,776,378

 

2,072,772,365

 

Other long-term receivable

 

815,586,298

 

325,487,591

 

48,921,226

 

Deferred tax assets, non-current

 

375,311,594

 

418,407,590

 

62,887,227

 

 

 

 

 

 

 

 

 

Total assets

 

144,413,901,668

 

163,227,455,707

 

24,533,307,637

 

 

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

Short-term debt

 

6,887,309,589

 

14,838,803,823

 

2,230,292,310

 

Accounts payable

 

7,278,791,082

 

8,314,060,992

 

1,249,614,626

 

Salary and welfare payable

 

2,508,430,757

 

2,975,629,445

 

447,241,135

 

Taxes payable

 

1,084,241,429

 

833,788,065

 

125,319,475

 

Advances from customers

 

8,190,840,057

 

8,771,501,445

 

1,318,368,546

 

Accrued liability for customer reward program

 

658,170,680

 

625,387,271

 

93,996,554

 

Other payables and accruals

 

3,687,242,592

 

5,613,309,434

 

843,688,008

 

 

 

 

 

 

 

 

 

Total current liabilities

 

30,295,026,186

 

41,972,480,475

 

6,308,520,654

 

 

 

 

 

 

 

 

 

Deferred tax liabilities, non-current

 

3,607,882,808

 

3,510,637,426

 

527,653,559

 

Long-term debt

 

34,650,673,553

 

33,597,170,400

 

5,049,700,209

 

Other long-term liabilities

 

339,566,619

 

481,780,815

 

72,412,309

 

 

 

 

 

 

 

 

 

Total liabilities

 

68,893,149,166

 

79,562,069,116

 

11,958,286,731

 

 

 

 

 

 

 

 

 

SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

Share capital

 

4,960,354

 

5,163,296

 

776,050

 

Additional paid-in capital

 

65,819,998,701

 

70,905,962,076

 

10,657,262,122

 

Statutory reserves

 

237,495,820

 

237,473,826

 

35,692,638

 

Accumulated other comprehensive income

 

1,010,373,732

 

4,354,529,115

 

654,491,623

 

Retained Earnings

 

6,699,580,613

 

8,338,018,450

 

1,253,215,465

 

Treasury stock

 

(2,235,574,510

)

(2,110,820,623

)

(317,259,198

)

 

 

 

 

 

 

 

 

Total Ctrip’s shareholders’ equity

 

71,536,834,710

 

81,730,326,140

 

12,284,178,700

 

 

 

 

 

 

 

 

 

Noncontrolling interests

 

3,983,917,792

 

1,935,060,451

 

290,842,206

 

 

 

 

 

 

 

 

 

Total shareholders’ equity

 

75,520,752,502

 

83,665,386,591

 

12,575,020,906

 

 

 

 

 

 

 

 

 

Total liabilities and shareholders’ equity

 

144,413,901,668

 

163,227,455,707

 

24,533,307,637

 

 



 

Ctrip.com International, Ltd.

Unaudited Condensed Consolidated Statements of Comprehensive Income

 

 

 

Quarter Ended

 

Quarter Ended

 

Quarter Ended

 

Quarter Ended

 

 

 

Septemter 30, 2016

 

June 30, 2017

 

September 30, 2017

 

September 30, 2017

 

 

 

RMB

 

RMB

 

RMB

 

USD

 

 

 

(unaudited)

 

(unaudited)

 

(unaudited)

 

(unaudited)

 

Revenue:

 

 

 

 

 

 

 

 

 

Accommodation reservation

 

2,071,608,431

 

2,311,142,987

 

2,820,384,460

 

423,907,604

 

Transportation ticketing

 

2,427,736,429

 

2,992,330,356

 

3,428,194,609

 

515,262,292

 

Packaged-tour

 

813,260,976

 

612,297,777

 

1,033,088,540

 

155,274,607

 

Corporate travel

 

166,337,791

 

199,352,936

 

202,879,041

 

30,492,995

 

Others

 

188,851,094

 

346,439,294

 

472,404,223

 

71,002,994

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

5,667,794,721

 

6,461,563,350

 

7,956,950,873

 

1,195,940,492

 

 

 

 

 

 

 

 

 

 

 

Less: Sales tax and surcharges

 

(95,928,079

)

(45,794,149

)

(57,274,816

)

(8,608,482

)

 

 

 

 

 

 

 

 

 

 

Net revenue

 

5,571,866,642

 

6,415,769,201

 

7,899,676,057

 

1,187,332,010

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

(1,234,297,161

)

(1,124,094,146

)

(1,303,483,658

)

(195,915,359

)

 

 

 

 

 

 

 

 

 

 

Gross profit

 

4,337,569,481

 

5,291,675,055

 

6,596,192,399

 

991,416,651

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

Product development *

 

(1,844,406,031

)

(2,036,738,021

)

(2,185,439,369

)

(328,474,497

)

Sales and marketing *

 

(1,506,558,491

)

(2,001,471,557

)

(2,377,850,924

)

(357,394,214

)

General and administrative *

 

(539,181,215

)

(608,203,223

)

(673,903,837

)

(101,288,659

)

 

 

 

 

 

 

 

 

 

 

Total operating expenses

 

(3,890,145,737

)

(4,646,412,801

)

(5,237,194,130

)

(787,157,370

)

 

 

 

 

 

 

 

 

 

 

Income from operations

 

447,423,744

 

645,262,254

 

1,358,998,269

 

204,259,281

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

99,167,513

 

249,426,782

 

271,592,321

 

40,820,694

 

Interest expense

 

(191,169,801

)

(383,446,788

)

(318,779,226

)

(47,912,949

)

Other (expense)/income

 

(27,905,573

)

397,102,679

 

233,444,936

 

35,087,090

 

 

 

 

 

 

 

 

 

 

 

Income before income tax expense and equity in income

 

327,515,883

 

908,344,927

 

1,545,256,300

 

232,254,116

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

(221,246,469

)

(529,202,309

)

(313,405,180

)

(47,105,223

)

Equity in (loss)/ income of affiliates

 

(63,833,906

)

(26,696,373

)

32,357,293

 

4,863,345

 

 

 

 

 

 

 

 

 

 

 

Net income

 

42,435,508

 

352,446,245

 

1,264,208,413

 

190,012,238

 

 

 

 

 

 

 

 

 

 

 

Less: net income attributable to noncontrolling interests

 

(18,518,066

)

(25,574,176

)

(35,090,626

)

(5,274,169

)

 

 

 

 

 

 

 

 

 

 

Net income attributable to Ctrip’s shareholders

 

23,917,442

 

326,872,069

 

1,229,117,787

 

184,738,069

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income attributable to Ctrip’s shareholders

 

229,522,806

 

912,668,705

 

2,836,812,328

 

426,376,735

 

 

 

 

 

 

 

 

 

 

 

Earnings per ordinary share

 

 

 

 

 

 

 

 

 

- Basic

 

0.40

 

4.97

 

18.35

 

2.76

 

- Diluted

 

0.38

 

4.72

 

16.76

 

2.52

 

 

 

 

 

 

 

 

 

 

 

Earnings per ADS

 

 

 

 

 

 

 

 

 

- Basic

 

0.05

 

0.62

 

2.29

 

0.34

 

- Diluted

 

0.05

 

0.59

 

2.10

 

0.32

 

 

 

 

 

 

 

 

 

 

 

Weighted average ordinary shares outstanding

 

 

 

 

 

 

 

 

 

- Basic

 

59,120,188

 

65,743,078

 

66,988,804

 

66,988,804

 

- Diluted

 

63,410,273

 

69,361,680

 

78,630,110

 

78,630,110

 

 


* Share-based compensation charges included are as follows:

 

 

 

 

 

 

 

 

 

Product development

 

324,427,727

 

305,271,403

 

210,505,836

 

31,639,312

 

Sales and marketing

 

70,609,154

 

58,994,568

 

37,738,032

 

5,672,077

 

General and administrative

 

161,796,351

 

163,592,798

 

135,789,753

 

20,409,384

 

 



 

Ctrip.com International, Ltd.

Reconciliation of  GAAP and Non-GAAP Results

(In RMB, except % and per share information)

 

 

 

Quarter Ended September 30, 2017

 

 

 

GAAP Result

 

% of Net
revenue

 

Share-based
Compensation

 

% of Net
revenue

 

Non-GAAP Result

 

% of Net
revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Product development

 

(2,185,439,369

)

28

%

210,505,836

 

3

%

(1,974,933,533

)

25

%

Sales and marketing

 

(2,377,850,924

)

30

%

37,738,032

 

0

%

(2,340,112,892

)

30

%

General and administrative

 

(673,903,837

)

9

%

135,789,753

 

2

%

(538,114,084

)

7

%

Total operating expenses

 

(5,237,194,130

)

66

%

384,033,621

 

5

%

(4,853,160,509

)

61

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

1,358,998,269

 

17

%

384,033,621

 

5

%

1,743,031,890

 

22

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Ctrip’s shareholders

 

1,229,117,787

 

16

%

384,033,621

 

5

%

1,613,151,408

 

20

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per ordinary share (RMB)

 

16.76

 

 

 

4.82

 

 

 

21.58

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per ADS (RMB)

 

2.10

 

 

 

0.60

 

 

 

2.70

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per ADS (USD)

 

0.32

 

 

 

0.09

 

 

 

0.41

 

 

 

 

 

 

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 September 30, 2016

 

 

 

GAAP Result

 

% of Net

revenue

 

Share-based

Compensation

 

% of Net

revenue

 

Non-GAAP Result

 

% of Net

revenue

 

Product development

 

(1,844,406,031

)

33

%

324,427,727

 

6

%

(1,519,978,304

)

27

%

Sales and marketing

 

(1,506,558,491

)

27

%

70,609,154

 

1

%

(1,435,949,337

)

26

%

General and administrative

 

(539,181,215

)

10

%

161,796,351

 

3

%

(377,384,864

)

7

%

Total operating expenses

 

(3,890,145,737

)

70

%

556,833,232

 

10

%

(3,333,312,505

)

60

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

447,423,744

 

8

%

556,833,232

 

10

%

1,004,256,976

 

18

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Ctrip’s shareholders

 

23,917,442

 

0

%

556,833,232

 

10

%

580,750,674

 

10

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per ordinary share (RMB)

 

0.38

 

 

 

8.78

 

 

 

9.16

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per ADS (RMB)

 

0.05

 

 

 

1.10

 

 

 

1.15

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per ADS (USD)

 

0.01

 

 

 

0.16

 

 

 

0.17

 

 

 

 

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=RMB6.6533 on September 29 2017 published by the Federal Reserve Board.