携程集团-S(09961) - 2021 - 中期财报

Financial Performance - In Q2 2021, Trip.com Group reported net revenue of RMB 5.9 billion (USD 912 million), an increase of 86% year-over-year and 43% quarter-over-quarter, driven by strong recovery in the domestic market [4]. - Total revenue for the three months ended June 30, 2021, reached RMB 5,892 million, a 86.5% increase compared to RMB 3,162 million for the same period in 2020 [13]. - Net income for the three months ended June 30, 2021, was RMB 326 million, compared to a net loss of RMB 688 million for the same period in 2020 [13]. - The company reported a net loss attributable to shareholders of RMB 659 million for the three months ended June 30, 2021, compared to a net loss of RMB 472 million for the same period in 2020 [14]. - The company recorded a net loss attributable to Ctrip of RMB 647 million for the six months ended June 30, 2021, a substantial improvement from a net loss of RMB 5,829 million in the same period of 2020 [15]. - The company reported a diluted loss per share of RMB 0.34 for the three months ended June 30, 2021, a significant improvement from a loss of RMB 1.93 in the same period of 2020 [16]. Gross Margin and EBITDA - The company's gross margin for Q2 2021 was 79%, up from 72% in Q2 2020 and 75% in Q1 2021 [5]. - Adjusted EBITDA for Q2 2021 was RMB 916 million (USD 142 million), with an adjusted EBITDA margin of 16%, compared to 4% in the same period last year [6]. - Adjusted EBITDA for the three months ended June 30, 2021, was RMB 916 million, with an adjusted EBITDA margin of 16%, compared to a negative RMB 216 million and -5% margin in the previous quarter [15]. Expenses - R&D expenses for Q2 2021 were RMB 2.2 billion (USD 345 million), representing 38% of net revenue, reflecting an increase of 24% year-over-year [5]. - Sales and marketing expenses for Q2 2021 were RMB 1.4 billion (USD 217 million), up 112% year-over-year, indicating increased investment in marketing activities [5]. - Operating expenses for the three months ended June 30, 2021, totaled RMB 4,341 million, compared to RMB 2,975 million for the same period in 2020, indicating a 46% increase [13]. - Research and development expenses for the three months ended June 30, 2021, were RMB 181 million, compared to RMB 252 million for the same period in 2020 [14]. Market and Growth Strategy - Trip.com Group's domestic travel market shows strong potential for growth, with a focus on enhancing supply chain, content, service quality, and technology [3]. - The company plans to adapt to post-pandemic traveler needs and maximize its social impact while increasing overall value [3]. - The company is focusing on expanding its market presence and enhancing its product offerings to drive future growth [13]. - The company plans to continue expanding its market presence and investing in new technologies and products to enhance user experience and drive growth [15]. Assets and Liabilities - As of June 30, 2021, the total assets of Trip.com Group amounted to RMB 207,005 million (approximately USD 32,061 million), an increase from RMB 187,249 million as of December 31, 2020 [11]. - The total liabilities increased to RMB 95,675 million (approximately USD 14,818 million) as of June 30, 2021, compared to RMB 85,682 million as of December 31, 2020 [12]. - The total equity attributable to shareholders rose to RMB 110,395 million (approximately USD 17,098 million) as of June 30, 2021, up from RMB 100,354 million as of December 31, 2020 [12]. - Cash, cash equivalents, and restricted cash increased to RMB 27,696 million (approximately USD 4,290 million) as of June 30, 2021, from RMB 19,415 million as of December 31, 2020 [11]. - Short-term investments also saw an increase, reaching RMB 35,286 million (approximately USD 5,465 million) as of June 30, 2021, compared to RMB 24,820 million as of December 31, 2020 [11]. - The net accounts receivable increased to RMB 5,339 million (approximately USD 827 million) as of June 30, 2021, from RMB 4,119 million as of December 31, 2020 [11]. User Engagement and Experience - The company operates a comprehensive travel platform, catering to both Chinese tourists and an increasing number of international travelers [10]. - Trip.com Group's strategic focus includes enhancing user experience and expanding its market presence through innovative products and services [10]. - The company’s total revenue for the three months ended June 30, 2021, showed a recovery trend, with a notable increase in user data and engagement metrics [15].