香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 馬和平 香港，二零二五年八月四日 Tongcheng Travel Holdings Limited 同程旅行控股有限公司 （於開曼群島註冊成立的有限公司） （股票代號：0780） 董事會會議通告 同程旅行控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈，董事會會議將於 二零二五年八月十八日（星期一）舉行，藉以（其中包括）批准本公司及其附屬公司 截至二零二五年六月三十日止六個月之未經審計中期業績及其發佈。 承董事會命 同程旅行控股有限公司 執行董事兼首席執行官 於本公告日期，董事會由以下成員組成： 執行董事 吳志祥 （聯席董事長） 楊嘉宏 馬和平 （首席執行官） 戴小京 獨立非執行董事 韓玉靈 非執行董事 梁建章 （聯席董事長） 江浩 謝晴華 Brent Richard Irvin ...

Core Viewpoint - The article presents the market capitalization rankings of the top 50 Chinese technology and internet companies as of August 4, 2025, highlighting significant players in the industry and their respective valuations in billions of USD [1]. Group 1: Top Companies by Market Capitalization - TSMC leads the ranking with a market capitalization of $121.99 billion [3]. - Tencent Holdings follows in second place with a valuation of $63.46 billion [3]. - Alibaba ranks third with a market cap of $27.92 billion [3]. - Xiaomi Group is fourth with a market capitalization of $18.07 billion [3]. - Pinduoduo holds the fifth position with a valuation of $15.62 billion [3]. Group 2: Additional Notable Companies - Meituan ranks sixth with a market cap of $9.45 billion [4]. - NetEase is seventh with a valuation of $8.06 billion [4]. - SMIC (Semiconductor Manufacturing International Corporation) is eighth with a market cap of $5.24 billion [4]. - Dongfang Fortune ranks ninth with a valuation of $5.11 billion [4]. - JD.com is in tenth place with a market capitalization of $4.46 billion [4]. Group 3: Rankings and Changes - Kuaishou is ranked eleventh with a market cap of $4.16 billion [5]. - Tencent Music holds the twelfth position with a valuation of $3.18 billion [5]. - Baidu is thirteenth with a market cap of $2.96 billion [5]. - Li Auto ranks fourteenth with a valuation of $2.70 billion [5]. - Beike is fifteenth with a market capitalization of $2.17 billion, showing an increase in ranking by 11 spots [5].

Core Viewpoint - The extreme high temperatures in the central and eastern regions of China during the summer of 2025 have led to a surge in national demand for summer vacation tourism, with significant shifts in travel patterns towards cooler destinations [1][4]. Group 1: Travel Trends - The search volume for "summer vacation" keywords on Meituan Travel increased by 45% year-on-year, with "summer vacation travel" searches soaring nearly 200% month-on-month [1]. - Long-distance summer travel is trending westward, with a notable increase in orders for long-distance trips to western and northeastern regions, up over 10% compared to the same period last year [4]. - Popular destinations for long-distance travel include Xining, Lhasa, Yinchuan, Lijiang, and others, with average temperatures ranging from 17°C to 26°C, making them ideal for summer retreats [4][5]. Group 2: Accommodation and Consumption - Hotel bookings in Yunnan have surged by 42% month-on-month, with dining consumption increasing by 62.6% [5]. - The average price for a family-friendly accommodation in Dali is around 1300 yuan per night during peak season, indicating a rise in accommodation costs due to high demand [5]. - The occupancy rates in western and northeastern provinces are exceptionally high, with some cities like Shenyang and Kunming exceeding 90% occupancy [6]. Group 3: Emerging Activities - New leisure activities such as "lazy drifting" in Anji have gained popularity, attracting thousands of visitors and generating significant ticket sales [8][9]. - Cultural and educational venues, including museums and science centers, are also seeing increased interest, with museum bookings up over 200% year-on-year [10]. - The trend of "traveling with events" has emerged, with sports events driving hotel occupancy rates in cities hosting matches, such as Nanjing and Huai'an [11]. Group 4: International Travel - There is a noticeable increase in outbound travel to southern hemisphere countries for cooler climates, with flight bookings to Australia and New Zealand rising over 20% [13][14]. - The price advantage of international flights has become a key driver, with significant reductions in ticket prices for routes like Guangzhou to Sydney [14]. - The overall international travel market is thriving, with a 136% increase in bookings for overseas train tickets and a 185% increase for hotel packages [14].

中新社北京8月1日电 (记者刘文文)正值暑期旅游旺季，中国在线旅游平台同程旅行8月1日公布的数据显 示，近期红色旅游目的地及相关旅游线路搜索热度快速上升。其中，抗战主题红色旅游热度显著攀升， 南京位居热门目的地榜首。 今年是中国人民抗日战争暨世界反法西斯战争胜利80周年，与抗战历史有关的红色旅游景点和场馆热度 显著高于去年同期。 同程旅行数据显示，自7月下旬以来，与抗战历史有关的纪念场馆和历史遗迹热度上升较快，也推高了 周边景区热度。今年暑期热门抗战纪念场馆或遗址主要有：侵华日军南京大屠杀遇难同胞纪念馆、沈 阳"九·一八"历史博物馆、中国人民抗日战争纪念馆、百团大战纪念馆、台儿庄大战遗址等。 除抗日纪念场馆外，热门电影的拍摄地也迅速成为年轻消费者的"打卡地"。同程旅行平台数据显示，暑 期档电影《南京照相馆》的核心拍摄地——上海影视乐园(车墩影视基地)，7月搜索热度环比上涨80%。 该园在影片上映期间同步推出的拍摄地观影活动，让游客沉浸式感受抗战历史，受到不少年轻人欢迎。 同程旅行度假业务相关负责人表示，今年暑期以抗战纪念为主题的研学游等产品热度显著高于去年同 期，特别是《南京照相馆》的热映，进一步推高相关主题 ...

Core Insights - The article presents the market capitalization rankings of the top 50 Chinese technology and internet companies as of August 1, 2025, highlighting significant shifts in rankings and valuations [1]. Group 1: Market Capitalization Rankings - TSMC leads the list with a market capitalization of $125.32 billion [3]. - Tencent Holdings ranks second with a market capitalization of $64.22 billion [3]. - Alibaba has moved up to the third position with a market capitalization of $28.77 billion, showing a notable increase from its previous rank of 12 [3]. Group 2: Notable Companies and Changes - Xiaomi Group is ranked fourth with a market capitalization of $17.57 billion [3]. - Pinduoduo follows closely in fifth place with a market capitalization of $16.11 billion [3]. - Meituan and NetEase are ranked sixth and seventh, with market capitalizations of $9.46 billion and $8.25 billion, respectively [3][4]. Group 3: Additional Rankings - Semiconductor Manufacturing International Corporation (SMIC) is in eighth place with a market capitalization of $5.23 billion [4]. - JD.com is ranked tenth with a market capitalization of $4.54 billion [4]. - Kuaishou and Tencent Music are ranked 11th and 12th, with market capitalizations of $4.17 billion and $3.25 billion, respectively [4]. Group 4: Lower Rankings - Companies ranked from 25 to 50 include Kingdee International at $0.83 billion and Yuyuan at $0.40 billion, indicating a diverse range of valuations among the lower-ranked firms [5][6].

Key Points - The top three companies with net inflows from southbound funds are Xiaomi Group-W (01810) with 1.665 billion, Tencent Holdings (00700) with 830 million, and Alibaba-W (09988) with 747 million [1] - The companies with the highest net outflows are Pop Mart (09992) with -354 million, China Life (02628) with -351 million, and Kingsoft Cloud (03896) with -300 million [1] - In terms of net inflow ratio, Qin Port Co. (03369) leads with 78.68%, followed by Reshaping Energy (02570) with 76.94%, and Cang Port Railway (02169) with 65.01% [1] - The companies with the highest net outflow ratios include Chongqing Rural Commercial Bank (03618) at -61.37%, Bank of China Aviation Leasing (02588) at -53.31%, and Swire Properties (01972) at -45.99% [1] Net Inflow Rankings - Xiaomi Group-W (01810) had a net inflow of 1.665 billion, representing a 12.37% increase [2] - Tencent Holdings (00700) saw a net inflow of 830 million, with an 8.94% increase [2] - Alibaba-W (09988) recorded a net inflow of 747 million, reflecting a 10.60% increase [2] - The highest net inflow was observed in CSPC Pharmaceutical Group (01093) with 654 million and a 21.81% increase [2] Net Outflow Rankings - Pop Mart (09992) experienced a net outflow of -354 million, with a -10.47% decrease [2] - China Life (02628) had a net outflow of -351 million, reflecting a -11.90% decrease [2] - Kingsoft Cloud (03896) recorded a net outflow of -300 million, with a -24.18% decrease [2] - Meituan-W (03690) also saw a significant outflow of -291 million, representing a -5.32% decrease [2] Net Inflow Ratio Rankings - Qin Port Co. (03369) leads with a net inflow ratio of 78.68% and a net inflow of 340,000 [3] - Reshaping Energy (02570) follows with a net inflow ratio of 76.94% and a net inflow of 10.53 million [3] - Cang Port Railway (02169) has a net inflow ratio of 65.01% with a net inflow of 4.3967 million [3] - Other notable companies include Meizhong Jiahe (02453) with a 61.71% net inflow ratio [3] Net Outflow Ratio Rankings - Chongqing Rural Commercial Bank (03618) has the highest net outflow ratio at -61.37% with a net outflow of -1.04 billion [3] - Bank of China Aviation Leasing (02588) follows with a net outflow ratio of -53.31% and a net outflow of -15.3728 million [3] - Swire Properties (01972) has a net outflow ratio of -45.99% with a net outflow of -29.4662 million [3]

Core Viewpoint - The article discusses the recent acquisitions by Tongcheng Travel, highlighting the challenges and market reactions associated with its attempts to integrate and control Dalian Shengya, a struggling tourism company [2][4][10]. Group 1: Acquisitions Overview - In April 2025, Tongcheng Travel acquired all shares of Wanda Hotel Development's hotel assets for 2.5 billion yuan [3]. - In July 2025, Tongcheng Travel planned to acquire a 23.08% stake in Dalian Shengya for 960 million yuan, gaining control over the company [6][8]. - The total investment in Dalian amounts to nearly 3.5 billion yuan, indicating a strategy to consolidate local tourism resources [4][10]. Group 2: Market Reactions - Following the announcements of the acquisitions, Tongcheng Travel's stock price dropped significantly, reflecting market skepticism about the deals [5][22]. - Dalian Shengya's stock experienced volatility, initially rising but then falling sharply after the acquisition news, indicating investor concerns about the integration process [5][22]. Group 3: Financial Performance and Challenges - Dalian Shengya reported total assets of 2.1 billion yuan and a net loss of 70 million yuan in 2024, highlighting its financial struggles compared to Tongcheng Travel's total assets of 37.8 billion yuan and net profit of 1.97 billion yuan [10][14]. - The company has a high debt ratio exceeding 85%, with significant financial burdens, including interest payments of 51 million yuan [15][16]. - Dalian Shengya's revenue growth in its main business segments has lagged behind the industry average, with a mere 5.7% increase in its scenic area operations [14]. Group 4: Governance and Control Issues - Dalian Shengya has faced governance challenges, including a power struggle among shareholders, which may complicate Tongcheng Travel's integration efforts [20][21]. - The controlling shareholder's shares are judicially frozen, raising concerns about potential changes in the shareholder structure and governance stability [19][20]. Group 5: Strategic Implications - Tongcheng Travel aims to leverage its extensive user base and resources to enhance Dalian Shengya's operations and expand its market presence [17]. - The acquisition is seen as a move to transition from an online-focused business model to a more integrated offline tourism operation [26].

| 36 | | 阿里巴巴 | 2799.92 | | | --- | --- | --- | --- | --- | | 4 | | 小米集团-W | 1763.96 | | | 5 | | 拼多多 | 1603.06 | | | | 網易 | 网易 | 825.18 | 11 | | 7 | | 东方财富 | 520.85 | II | | 8 | | 中芯国际 | 516.85 | | | --- | --- | --- | --- | --- | | 9 | | 京东 | 457.68 | | | 10 | | 快手-W | 409.34 | | | II | | 腾讯音乐 | 326.82 | | | 12 | Bal Car | 目度 | 295.44 | | | 13 | | 理想汽车 | 283.13 | | | 14 | | 贝壳 | 221.36 | | | 15 | | 同花顺 | 218.78 | | | 16 | | 小鹏汽车 | 171.87 | | | 17 | | 中通快递 | 159.79 | | | 18 | | 科大讯飞 | 157.13 | | | 19 | | 蔚来 ...

受今年第8号台风"竹节草"等因素影响，全国多地部分铁路车次停运。7月30日，同程旅行发起"风雨同 程，停运不停暖"公益活动，面向7月26日至8月10日期间受铁路停运影响的用户，发放最高100元的铁路 购票专用补贴券。即日起，用户在同程旅行APP或小程序搜索关键词"停运补贴"即可参与。 同程旅行将根据天气情况，及时调整补贴发放时间，预计补贴金额将达到数百万元。 同程旅行已连续多年参与发起春运公益活动，如"冬日暖阳春运直通车""一路同程，青春有我" "大学生 回家助力计划"等。截至今年，同程旅行仅在公益专列方面就已惠及近5000名务工及外地学子。 同程旅行相关负责人介绍，本次活动不限制购票平台。用户只需上传带有"车次已停运"标签的本人火车 票订单截图，在通过人工核验后，即可获得最高100元的铁路购票专用补贴券。补贴会以短信的方式告 知，用户可在【同程旅行-我的-优惠券】查看及使用。 ...

Core Insights - The demand for high-quality civil aviation passenger services is increasing as air travel becomes more popular in China, leading to greater expectations for airport services [1][2] - Online travel agencies (OTAs) are seen as ideal partners for airports to enhance market competitiveness and innovate products [1] - The "First Flight Care" program launched by Tongcheng Travel aims to address the needs of first-time flyers, with over 50,000 passengers served by the end of June [1][5] Group 1: "First Flight Care" Program - The "First Flight Care" program is a market-driven initiative designed to provide comprehensive support for first-time flyers, including check-in guidance and priority boarding [2][4] - The program has been implemented in 11 airports across China, with plans to expand to 20 airports by the end of the year, creating a shared service network [5] - The collaboration between Tongcheng Travel and airports allows for a win-win situation where passengers receive enhanced services, airports achieve systematic service delivery with minimal investment, and Tongcheng Travel improves user experience and satisfaction [4][5] Group 2: Transfer and Connection Services - The focus on transfer and connection services is a key area of collaboration between Tongcheng Travel and major hub airports, enhancing passenger options beyond direct flights [6][7] - The demand for transfer flights is driven by factors such as lower ticket prices, the opportunity to explore additional cities, and increased flight options during peak travel seasons [6] - The partnership has led to significant growth in transfer and intermodal passenger traffic at Zhengzhou Xinzheng International Airport, with transfer ticket sales increasing by approximately 8% and intermodal ticket sales by 23% in 2024 [7] Group 3: Future Opportunities - The aviation passenger network is likened to a river system, where enhancing passenger flow to hub airports raises the overall network capacity [8] - The focus on service and product innovation around airports is expected to be a key area of growth and challenge for both Tongcheng Travel and airports during the 14th Five-Year Plan period [8] - By 2035, the number of civil transport airports in China is projected to reach around 400, presenting both opportunities and challenges for the industry [8]