TRIP.COM(09961)2025-05-19 22:05Financial Performance - In Q1 2025, Trip.com Group reported net revenue of RMB 13.8 billion (USD 1.9 billion), a year-over-year increase of 16% and a quarter-over-quarter increase of 9%[5]. - The company's operating income from hotel bookings was RMB 5.5 billion (USD 764 million), up 23% year-over-year, driven by increased bookings[5]. - Transportation ticketing revenue reached RMB 5.4 billion (USD 747 million), reflecting an 8% year-over-year increase[7]. - The adjusted EBITDA for Q1 2025 was RMB 4.2 billion (USD 586 million), compared to RMB 4.0 billion in the same quarter of 2024[9]. - The net profit for Q1 2025 was RMB 4.3 billion (USD 596 million), consistent with the same period in 2024 and up from RMB 2.2 billion in the previous quarter[9]. - Total revenue for Q1 2024 reached RMB 11,921 million, a 9% increase compared to Q4 2023[21]. - Net income for Q1 2024 was RMB 4,325 million, significantly higher than RMB 2,191 million in Q4 2023[22]. - Adjusted EBITDA for Q1 2024 was RMB 3,974 million, with an adjusted EBITDA margin of 33%[23]. - The company reported a gross profit of RMB 9,667 million for Q1 2024, reflecting a gross margin of approximately 81%[21]. Cash and Investments - The company’s cash and cash equivalents, restricted cash, and short-term investments totaled RMB 92.9 billion (USD 12.8 billion) as of March 31, 2025[10]. - Cash and cash equivalents, along with restricted cash, were reported at RMB 51.093 billion as of December 31, 2024, increasing to RMB 56.360 billion by March 31, 2025[19]. - The company repurchased approximately 1.6 million American Depositary Shares (ADS) for a total consideration of about USD 84 million as part of its capital return policy[11]. Expenses - Research and development expenses for Q1 2025 were RMB 3.5 billion (USD 486 million), a 13% increase year-over-year[7]. - Sales and marketing expenses rose to RMB 3.0 billion (USD 413 million), a 30% increase compared to the same quarter last year[8]. - The total operating expenses for Q1 2024 were RMB 6,352 million, which is a 19% increase compared to Q4 2023[21]. - Research and development expenses for Q1 2024 were RMB 3,109 million, representing a 6% increase from Q4 2023[21]. Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 242.581 billion, with a projected increase to RMB 247.762 billion by March 31, 2025[19]. - The total liabilities increased from RMB 99.099 billion as of December 31, 2024, to RMB 100.776 billion by March 31, 2025[20]. - Shareholders' equity for the company rose from RMB 141.807 billion as of December 31, 2024, to RMB 145.153 billion by March 31, 2025[20]. Strategic Focus - The company emphasizes the importance of strategic investments and acquisitions to drive future growth and mitigate competitive risks[16]. - The management highlighted ongoing development in new products and technologies to enhance user experience and market position[16]. - The company aims to expand its market presence, particularly in Asia, to capture a larger share of the travel industry[17]. Forward-Looking Statements - Forward-looking statements indicate potential risks related to economic fluctuations and competition that could impact future performance[14]. - The adjusted EBITDA margin is expected to provide insights into the company's operational efficiency and profitability trends[15]. - The company reported a net profit attributable to shareholders under non-GAAP measures, which enhances comparability of operational data across periods[15]. Earnings Per Share - The company’s earnings per share (diluted) for Q1 2024 was RMB 6.38, up from RMB 3.09 in Q4 2023[22]. - The average diluted shares outstanding increased to 675,933,592 for Q1 2024, compared to 656,190,044 in Q4 2023[22]. Interest Income - Interest income for Q1 2024 was RMB 592 million, while interest expenses were RMB 499 million, resulting in a net interest income of RMB 93 million[23].