Financial Performance - Revenue increased by 34.8% year-on-year from RMB 3,144.5 million in Q4 2023 to RMB 4,237.6 million in Q4 2024[4] - Adjusted EBITDA rose by 39.4% year-on-year from RMB 715.9 million in Q4 2023 to RMB 997.7 million in Q4 2024, with an adjusted EBITDA margin increasing from 22.8% to 23.5%[4] - Adjusted net profit increased by 36.8% year-on-year from RMB 482.5 million in Q4 2023 to RMB 660.2 million in Q4 2024, with an adjusted net profit margin rising from 15.3% to 15.6%[4] - Total revenue for the fiscal year 2024 reached RMB 17,340.7 million, a 45.8% increase from RMB 11,896.2 million in 2023[11] - Adjusted EBITDA for the fiscal year 2024 was RMB 4,050.2 million, up 29.7% from RMB 3,123.9 million in 2023, with an adjusted EBITDA margin decreasing from 26.3% to 23.4%[11] - Adjusted net profit for the fiscal year 2024 increased by 26.7% year-on-year to RMB 2,785.4 million from RMB 2,199.1 million in 2023[11] - Total revenue for the year ended December 31, 2024, was RMB 17,340,686 thousand, an increase of 46.0% compared to RMB 11,896,244 thousand in 2023[92] - Net profit for the year was RMB 1,988,266 thousand, up 27.0% from RMB 1,565,563 thousand in the previous year[93] User Growth - Average monthly paying users grew by 9.3% year-on-year from 37.5 million in Q4 2023 to 41.0 million in Q4 2024[4] - The number of annual paying users rose by 1.5% year-on-year from 234.7 million in 2023 to 238.3 million in 2024[11] - The average monthly paying users grew by 4.4% year-over-year to 43.1 million, while annual paying users reached a record high of 238.3 million, up 1.5%[18] - The cumulative service user count for the year reached 1.928 billion, a 9.3% increase from 1.764 billion in 2023[15] Revenue Breakdown - Revenue from the core online travel platform increased by 22.1% to RMB 14,199.4 million for the year ended December 31, 2024[35] - Accommodation booking service revenue rose by 19.7% to RMB 4,668.2 million, driven by increased demand and enhanced cross-selling strategies[35] - Transportation ticketing service revenue increased by 19.9% to RMB 7,229.0 million, attributed to higher demand for services and value-added products[37] - Revenue from the accommodation business for Q4 2024 increased by 28.6% to RMB 1,135.1 million, with annual revenue reaching RMB 4,668.2 million, up 19.7%[24] - Revenue from the transportation ticketing service for Q4 2024 grew by 17.0% to RMB 1,723.0 million, with annual revenue of RMB 7,229.0 million, a 19.9% increase[23] - Revenue from other business segments reached RMB 599.2 million in Q4 2024, a year-on-year increase of 14.8%[25] - For the full year 2024, revenue from other business segments grew by 35.5% to RMB 2,302.2 million[25] - Revenue from the vacation business in Q4 2024 was RMB 780.2 million, and for the full year, it reached RMB 3,141.2 million[25] Expenses and Costs - Sales cost rose by 97.2% from RMB 3,158.0 million in 2023 to RMB 6,227.2 million in 2024, with the sales cost as a percentage of revenue increasing from 26.5% to 35.8%[40] - Service development expenses increased by 9.9% to RMB 2,000.9 million in 2024, with the proportion of service development expenses to revenue decreasing from 14.7% to 11.0%[41] - Sales and marketing expenses grew by 25.7% to RMB 5,620.7 million in 2024, with the proportion to revenue decreasing from 37.3% to 32.2%[42] - Administrative expenses increased by 69.6% to RMB 1,206.2 million in 2024, with the proportion to revenue rising from 4.1% to 5.4%[43] Cash Flow and Investments - Cash and cash equivalents at the end of 2024 amounted to RMB 8,020.0 million, an increase from RMB 5,192.4 million at the end of 2023, marking a rise of 54.5%[77] - Operating cash flow for 2024 was RMB 2,969.88 million, down from RMB 4,003.44 million in 2023, indicating a decrease of 26.0%[78] - The net cash used in investing activities for 2024 was RMB 834.26 million, a decrease from RMB 1,762.22 million in 2023, indicating a reduction of 52.7%[78] - The net cash generated from financing activities for the year ended December 31, 2024, was RMB 678.8 million, primarily from net proceeds of long-term and short-term borrowings amounting to RMB 1,415.3 million[81] Corporate Governance and Structure - The company has updated its reporting structure to better reflect its business strategy and financial performance across its core online travel platform and vacation segments[6] - The company has established a new internal reporting structure effective January 1, 2024, separating the reporting of its core online travel platform and offline travel agency and vacation-related businesses[108] - The board of directors consists of both executive and independent non-executive members, ensuring diverse governance[158] Accounting and Compliance - The financial statements are prepared in accordance with International Financial Reporting Standards and the Hong Kong Companies Ordinance[101] - The company will apply the new accounting standards starting from January 1, 2027, and will restate comparative information for the fiscal year ending December 31, 2026, in accordance with IFRS 18[107] - The group has not early adopted certain new accounting standards that will come into effect after December 31, 2024, and does not expect significant impacts from these standards[103] Shareholder Information - The company declared a final dividend of HKD 0.15 per share, totaling approximately HKD 341.5 million (around RMB 311.7 million) for the year ended December 31, 2023[124] - The company plans to propose a final dividend of HKD 0.18 per share for the year ended December 31, 2024, with an estimated total dividend payout of approximately HKD 419,177,424.06[147] - The record date for the proposed final dividend is July 7, 2025, with share transfer registration suspended from July 3, 2025, to July 7, 2025[149]
同程旅行(00780) - 2024 - 年度业绩