Get Our Weekly Email Newsletter
I.T. Skills In Your China Business!IPS works with institutions and corporate clients to deliver computer skills training and ICT solutions, as well as internal assessments and benchmarking. More Info Here...
Distribute Press Releases To Chinese Media!Getting your company's message to journalists is important in China and ChinaNewswire.com can assist you in English-language releases and Xinwengao.com can provide Chinese-language distribution services. Corporate press releases are the most cost-effective way for you to connect with your customers and stakeholders in China!
• Mobile Money Transfer World Conference 2009 @ New Delhi - 2009/07/28
• APNIC 28 @ Beijing - 2009/08/24
• Social Networking World Forum Asia @ Singapore - 2009/09/22
• Optical Transmission Vision APAC @ Singapore - 2009/10/19
Let us work with you in China to manage your email marketing campaigns, loyalty marketing programs, email newsletters, and digital marketing efforts while we improve your email deliverability in China. Our software and staff can help your company stay #1! Visit XZList.com
Ctrip.com's Revenue Drops On Consecutive Quarters
May 15, 2008 |
Print
| 
Email
| Category: Internet
Chinese Internet travel website Ctrip.com (CTRP) says it had total revenues of CNY367 million, representing a 47% increase from the same period in 2007 but a 4% decrease from the previous quarter, as it announced results for the quarter ended March 31, 2008.
"During the first quarter of 2008, we achieved strong financial results despite of the challenges due to weather conditions," said Min Fan, CEO of Ctrip. "We are not only gaining new customers and business, but we are also strengthening our brand recognition in the travel industry. We will continue to provide high quality service to our customers. We believe Ctrip will be able to improve its position in this promising and challenging market."
Hotel reservation revenues amounted to CNY171 million for the first quarter of 2008, representing a 28% increase from the same period in 2007 primarily due to increased hotel booking volume and a 13% decrease from the previous quarter primarily due to decreased hotel booking volume during the Chinese New Year holidays. Air-ticketing revenues for the first quarter of 2008 were CNY159 million, representing a 68% increase from the same period in 2007 and a 3% increase from the previous quarter, primarily due to increased air ticketing volume. Packaged-tour revenues for the first quarter of 2008 were CNY27 million, up 67% from the same period in 2007 and 22% from the previous quarter, primarily due to the increased leisure travel volume in the first quarter of 2008.
Gross margin was 80% in the first quarter of 2008, remaining relatively consistent with 79% in the same period in 2007 and 81% in the previous quarter. Income from operations for the first quarter of 2008 was CNY110 million, which represented a 55% increase from the same period in 2007 and a 13% decrease from the previous quarter.
Net income for the first quarter of 2008 was CNY99 million, representing a 52% increase from the same period in 2007, and a 27% decrease from the previous quarter.
The effective tax rate for the first quarter of 2008 was 28%, as compared to 16% in the same period of 2007 and 7% in the previous quarter, primarily due to the application of a statutory tax rate of 25% under the new PRC Enterprise Income Tax Law effective on January 1, 2008 and the increase of share-based compensation, which is not tax-deductible.
As of March 31, 2008, the balance of cash and short-term investment was CNY1.2 billion.
Recommend this page: 
Loading ...Join our China Tech Forum to discuss many more topics!
Leave A Comment:
-
Business
-
Commentary
- Focusing On The Bigger Picture With China's Green Dam Security Software
- Chinese Mobile Phones Lacking IMEI Numbers Face Death In India
- What Is China's Internet Marketing Outlook For 2009?
- China's Baidu.com: Drugged And Screaming For Better Management
- Benchmarks For Corporate Computer Efficiency In China
-
Computing
- Green Computers Donated To Chinese Schools
- MIIT: Installation Of Green Dam Can Be Delayed For Unprepared Manufacturers
- China Plans To Pre-install Software For Preventing Viewing Of Pornographic Websites
- Hasee To Set Up R&D Center In Taiwan
- Into Africa: China Great Wall Computer Arranges JV In Algeria
-
Gadgets & Electronics
-
Internet
-
Law & Policy
- MIIT: Installation Of Green Dam Can Be Delayed For Unprepared Manufacturers
- Campaign Launched Against Chinese Internet "Cultural Irregularities"
- China Implements Stricter Management Of Virtual Currency
- "Sex" Will Be Taboo On Chinese Internet From July 1
- Sogou Sues Tencent Over Unfair Competition In China
Copyright 1999-2009 ChinaTechNews.com. All Rights Reserved.
If you would like to syndicate these articles and posts, please utilize the RSS feed for this online publication, which provides a brief summary of each post with a link back to the original article. Posting of any other part of the articles or posts on this website, in whole or in part, is expressly prohibited without express written permission from BDL Media. No part of this website may be copied, transferred, posted, or published without the express written permission of ChinaTechNews.com or its registered agents. Content on this website, including articles, opinions, and data are protected under international copyright laws. Failure to comply with these rules will result in legal action. 