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Net Revenue Climbs For Ctrip.com

Chinese online travel booking company Ctrip.com (CTRP) says net revenues climbed 52% year-on-year to CNY288 million as it reported its unaudited financial results for the quarter ended June 30, 2007.

"The robust growth of our core businesses contributed to the strong financial results in the second quarter of 2007," said Min Fan, CEO of Ctrip. "We continued to enrich our service offerings, expand our coverage geographically and focus on delivering superior customer experience. All these efforts have enabled us to acquire a larger customer base and increase market share."

For the second quarter of 2007, Ctrip reported total revenues of CNY309 million, representing a 53% increase from the same period in 2006 and a 24% increase from the previous quarter.

Hotel reservation revenues totaled CNY171 million for the second quarter of 2007, representing a 45% increase from the same period in 2006 and a 28% increase from the previous quarter primarily due to increased volume in hotel bookings. The total number of hotel room nights booked was approximately 2.41 million in the second quarter of 2007, compared to approximately 1.70 million for the same period in 2006 and approximately 1.92 million room nights in the previous quarter.

Air ticket booking revenues for the second quarter of 2007 were CNY117 million, representing a 67% increase from the same period in 2006, primarily due to strong growth of air tickets sales volume. Air ticket booking revenues for the second quarter of 2007 increased 24% from the previous quarter, primarily due to the growth of air tickets sales volume and increased commission per ticket sold. The total number of air tickets sold in the second quarter of 2007 was approximately 2.55 million, compared to approximately 1.49 million for the same period in 2006 and approximately 2.22 million in the previous quarter.

Income from operations for the second quarter of 2007 was CNY95 million. Operating margin was 33% in the second quarter of 2007. Excluding share- based compensation charges (non-GAAP), operating margin was 41% compared to 42% in the same period in 2006 and 39% in the previous quarter.

As of June 30, 2007, Ctrip's cash balance increased to CNY978 million, compared to CNY866 million as of March 31, 2007.

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