8 2 同程艺龙 Tongcheng-Elong Holdings Limited 同程藝龍控股有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司 ) Stock Code 股份代號：0780 HOTEL 日 目 目 � ■ 日 目 目 日 日 回 E 目 ■ ■ UZI 同程旅行 CONTENTS 目錄 2 CORPORATE INFORMATION 公司資料 6 KEY HIGHLIGHTS 摘要重點 9 FIVE-YEAR PERFORMANCE REVIEW 五年業績回顧 10 CHAIRMAN'S STATEMENT 董事長致辭 18 MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析 36 PROFILES OF DIRECTORS AND SENIOR MANAGEMENT 董事及高級管理層履歷 43 DIRECTORS' REPORT 董事會報告 108 CORPORATE GOVERNANCE REPORT 企業管治報告 134 ENVIRONME ...

Financial Performance - The company reported a consolidated income statement with significant financial metrics for 2019, including total revenue and net profit figures[2]. - Revenue increased by 40.7% year-to-year to RMB 7,392.9 million from RMB 5,255.6 million in 2018[8]. - Adjusted EBITDA increased by 75.2% year-to-year to RMB 2,018.5 million from RMB 1,152.1 million in 2018, with an adjusted EBITDA margin rising from 21.9% to 27.3%[8]. - Adjusted profit for the year increased by 68.6% year-to-year to RMB 1,544.3 million from RMB 915.9 million in 2018, with an adjusted net margin increasing from 17.4% to 20.9%[8]. - Total comprehensive income for the year was RMB 716.6 million, compared to RMB 519.6 million in 2018[18]. - The company reported a profit for the year of RMB 686.5 million, up from RMB 534.5 million in 2018[1]. - The company reported a significant one-off charge in 2018 related to reorganization expenses, impacting administrative expenses in subsequent years[46]. User Growth and Engagement - The five-year performance review highlighted a steady growth trend in user data, with an increase in active users by 15% year-over-year[3]. - Average monthly active users (MAUs) increased by 17.1% year-to-year from 175.2 million in 2018 to 205.2 million in 2019[8]. - Average monthly paying users (MPUs) increased by 34.5% year-to-year from 20.0 million in 2018 to 26.9 million in 2019[8]. - User retention rates improved to 85%, up from 80% in the previous year[86]. - The company reported a significant increase in user engagement, with a year-over-year growth of 25% in active users[96]. Revenue Growth and Projections - Future outlook indicates a projected revenue growth of 20% for the next fiscal year, driven by market expansion and new product launches[3]. - New product launches are expected to contribute an additional $30 million in revenue in the upcoming year[3]. - Revenue for the last quarter reached $150 million, representing a 15% increase compared to the previous quarter[86]. - The company has set a future outlook with a revenue guidance of $200 million for the next quarter, indicating a projected growth of 33%[98]. Market Expansion and Strategy - Market expansion strategies include entering three new international markets by the end of 2021, aiming for a 10% market share in each[3]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by the end of 2024[86]. - The company aims to leverage its traffic and resources to further penetrate the Chinese travel market, particularly in lower-tier cities[28]. - The company plans to enhance its products and services to better serve users and strengthen relationships with suppliers[28]. Cost Management and Efficiency - The company plans to implement cost-cutting measures to improve operating margins by 5% over the next two years[3]. - The company aims to reduce operational costs by 5% through efficiency improvements in the next fiscal year[86]. - Total administrative expenses decreased from RMB 934.9 million in 2018 to RMB 625.2 million in 2019[1]. Technology and Innovation - The company is investing in new technology development, with a budget allocation of approximately $50 million for R&D in 2020[3]. - The company has allocated $10 million for research and development of new technologies aimed at enhancing user experience[86]. - New product development initiatives are underway, focusing on enhancing user experience and integrating advanced technologies[97]. Strategic Acquisitions and Partnerships - The company has completed a strategic acquisition of a smaller competitor, enhancing its service offerings and user base by 25%[3]. - A strategic partnership with a leading travel agency is anticipated to increase customer acquisition by 30%[86]. - The company is exploring potential acquisitions to bolster its service offerings and market reach[86]. Governance and Management - The company has a diverse board with members holding significant experience in finance, law, and education, enhancing governance and strategic oversight[90][91][92][93]. - The independent directors bring a wealth of experience from various industries, which may aid in strategic decision-making and market expansion[90][91][92][93]. - The company is focused on enhancing its governance structure through the appointment of experienced independent directors[90][91][92][93]. COVID-19 Impact and Response - The outbreak of COVID-19 at the end of January 2020 has significantly impacted the travel industry, presenting short-term challenges[23]. - The company aims to operate on a cost-saving mode while seeking opportunities amid uncertainties caused by COVID-19[23]. - The company does not anticipate any material adverse effects on its financial performance for the fiscal year 2019 due to the COVID-19 outbreak[119]. - The company launched a dynamic set of initiatives to fulfill responsibilities towards the community and protect users and employees during the COVID-19 outbreak[119]. Financial Position and Assets - Non-current assets totaled RMB 9,791.9 million, while current assets amounted to RMB 9,691.3 million, leading to total assets of RMB 19,483.3 million[19]. - Total equity attributable to equity holders of the company was RMB 13,156.4 million, with total liabilities of RMB 6,331.6 million[19]. - Cash and cash equivalents decreased to RMB 2,271.3 million in 2019 from RMB 3,143.9 million in 2018, a decline of 27.7%[63]. Compliance and Regulatory Matters - Compliance with relevant laws and regulations is a priority, ensuring adherence to corporate governance and operational standards[105]. - The Group confirmed compliance with the disclosure requirements for related party transactions under the Listing Rules[142]. - The Group's contractual arrangements have been reviewed and confirmed to comply with relevant provisions, ensuring fairness and benefit to shareholders[173].