The Digital Source For China's Tech Innovation Since 2000

Search
Close

Ctrip Operating Revenue Up 19% In Q2 2019

September 11, 2019
Internet

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.

Tags: Ctrip | tourism

Other Related News:

Bandwagon bust: Dennis Uy abandons P2.4B e-Commerce project, gets stuck with unpaid China Bank loan

April 10, 2022

China arises as second major Bitcoin mining hub ChinaPulse.com China News, Data, Media Intelligence and Insights

May 19, 2022

Sina.com Foresees Bumpy Internet Future In China As It Releases Financial Results

March 17, 2009

Four Chinese Domestic Mobile Phone Manufacturers Form Alliance

November 1, 2005

Tesla Shanghai plant produces an electric car every 34 seconds (Video)

January 18, 2022

Clear Harbor Asset Management LLC Trims Stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

September 4, 2021

Amazon Chooses Tianjin For New Chinese Logistics Base

February 11, 2012

SenseTime’s IPO to test market demand for high-growth, high-loss shares in Hong Kong – TechCrunch

December 7, 2021

Facebook whistleblower cites spying by China

October 7, 2021
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
Menu
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2022 ChinaTechNews.com. A Service of Asia Media Network.
Twitter
Posting....