Financial Performance - Annual revenue reached 2.5billion,representinga15500 million, to enhance its market position[1] - The company completed the acquisition of Beijing Tongcheng Tourism Investment Group Co., Ltd. in Q4 2023 to strengthen its market position[31] - The company signed a strategic agreement with Chengdu Shuangliu Airport in Q4 2023 to develop it as a regional transit hub[33] - The company acquired 100% equity interest in Beijing Tongcheng Tourism Investment Group Ltd. on November 30, 2023, to strengthen its market position in the travel industry[86][91] - The company acquired approximately 57.1656% equity interest in Hainan Yanuoda Yuanrong Tourism Co., Ltd. on November 30, 2023, to expand its travel industry supply chain[87][91] - The company plans to explore potential acquisitions, investments, joint ventures, and partnerships aligned with its overall business strategies[93] - The company will actively seek mergers and acquisitions to expand its market size[163] Technology and Innovation - R&D investment increased by 25% to 300million,focusingonAIandmachinelearningtechnologies[1]−Thecompanylaunchedanewmobileappfeature,resultingina30200 million[1] - The Board proposed a final dividend of HKD 0.15 per share for the year ended December 31, 2023, with an estimated total payout of approximately HKD 339,388,938[113] - The total number of issued shares as of March 15, 2024, is 2,262,592,922[113] - The final dividend is expected to be paid on or about July 19, 2024, to shareholders listed on the register of members as of July 5, 2024[113] - The company has distributable reserves totaling RMB 20,543 million as of December 31, 2023[114] - The net proceeds from the Global Offering were fully utilized by December 31, 2023, with RMB 355.1 million carried forward from 2022 and used in 2023[118] - 30% of the net proceeds (RMB 395.8 million) were used to enhance products, services, and the TSP and user bases[120] - 40% of the net proceeds (RMB 158.3 million) were allocated to expanding the user base through strengthened user acquisition channels[120] - 30% of the net proceeds (RMB 118.7 million) were used to expand product and service offerings by building relationships with existing and emerging TSPs and developing innovative travel products[120] - 20% of net proceeds (RMB 79.2 million) allocated to increase brand awareness through advertising and promotional activities[122] - 10% of net proceeds (RMB 39.6 million) used to enhance user stickiness by improving membership loyalty programs[122] - 30% of net proceeds (RMB 395.8 million) allocated for potential acquisitions, investments, joint ventures, and partnerships[122] - 30% of net proceeds (RMB 395.8 million) used to enhance overall technology capabilities, including big data and AI (RMB 158.3 million), IT infrastructure (RMB 158.3 million), and competitive compensation for IT talent (RMB 79.2 million)[122] - 10% of net proceeds (RMB 131.9 million) allocated for working capital and general corporate purposes[122] - Total net proceeds utilized as of December 31, 2023, amounted to RMB 355.1 million[122] Business Strategy and Future Outlook - The company expects revenue growth of 10-12% for the next fiscal year[1] - The company achieved a second growth trajectory through substantial progress in hotel management and packaged tour businesses[37] - The company anticipates a robust expansion of the domestic travel market and significant progress in the outbound travel sector in 2024[37] - The company plans to transition from an OTA to an ITA by leveraging advanced technological capabilities[37] - The company will continue to penetrate lower-tier city markets, where core business has shown rapid growth[37] - The company plans to diversify its travel service provider (TSP) sources by contracting directly with airlines, hotel operators, and railway companies, as well as collaborating with regional travel agents and third-party online travel agencies[163] - The company will actively seek mergers and acquisitions to expand its market size[163] - The company depends on maintaining existing partnerships, including with TSP and Tencent Group, and any adverse changes could negatively impact its business[163] - The company will deepen cooperation with business partners by leveraging technology to offer innovative and customized products and services[163] - The company plans to diversify service providers for payment, settlement, and other technical services, and expand its user base through various traffic acquisition channels[163] - The online travel industry is highly competitive, with the company facing competition from other online travel agencies, traditional travel agencies, and travel service suppliers[163] - The company will continue to invest substantially in sales and marketing efforts, including broadening user acquisition channels and improving market competition analysis mechanisms[164][165] - The company aims to increase competitiveness by expanding product and service offerings, growing its user base, enhancing user engagement, and pursuing strategic alliances, acquisitions, and investments[164][165] - The Group's user base and user engagement are critical to its success, with potential risks if users no longer find its products and services attractive[167] - The Group plans to expand its user base through diverse traffic acquisition channels, including increasing awareness of Tencent-based platforms
