Chinese online tourism service provider Ctrip.com announced that its net operating revenue for the second quarter of 2019 was CNY8.7 billion, a year-on-year increase of 19% and an increase of 6% compared with the previous quarter.
According to the company, its hotel booking operating revenue was CNY3.4 billion, a year-on-year increase of 21%; its transportation and ticket service operating revenue was CNY3.4 billion, a year-on-year increase of 13%; its travel and vacation business operating revenue was CNY1.1 billion, a year-on-year increase of 25%; and its business trip management business operating revenue was CNY309 million, a year-on-year increase of 21%.
At the same time, Ctrip's net losses were CNY403 million during the reporting period, while the company achieved net profit of CNY2.4 billion in the same period of last year. Ctrip said that it was because of the CNY1.3 billion losses caused by changes in fair value of equity securities investments.
Ctrip also revealed in its financial report that the company completed equity swap transaction with Naspers Limited on August 30, 2019 and became the largest shareholder of MakeMyTrip, a leading online tourism company in India.
International business has been Ctrip's development focus in recent years. Statistics show that during the second quarter of 2019, Ctrip's international business revenue, including outbound travel of Greater China users and overseas user travel business, accounted for over 35% of the total revenue of the group.
In addition, Ctrip announced a shareholders' meeting proposal to change its English name from Ctrip.com International, Ltd. to Trip.com Group Limited.