Financial Performance - Revenue increased by 10.4% year-on-year to RMB 5,509.1 million for the three months ended September 30, 2025, compared to RMB 4,991.5 million in the same period of 2024[3] - Adjusted EBITDA rose by 14.5% year-on-year to RMB 1,510.3 million, with an adjusted EBITDA margin increasing to 27.4% from 26.4%[3] - Adjusted net profit increased by 16.5% year-on-year to RMB 1,060.2 million, with an adjusted net profit margin rising to 19.2% from 18.2%[3] - Operating profit for the same period was RMB 1,163.2 million, compared to RMB 977.1 million in the previous year[18] - Basic earnings per share increased to RMB 0.42 from RMB 0.35 year-on-year[18] - Profit attributable to equity holders increased from RMB 793.2 million to RMB 976.0 million[35] - Net profit for the three months ended September 30, 2025, was RMB 985,248 thousand, representing a 22.7% increase from RMB 803,234 thousand in 2024[42] - The company reported a gross profit of RMB 3,621,835 thousand for the three months ended September 30, 2025, compared to RMB 3,164,675 thousand in 2024, reflecting a gross margin improvement[42] - The total comprehensive income for the three months ended September 30, 2025, was RMB 980,780 thousand, compared to RMB 788,482 thousand in 2024, indicating overall growth in profitability[44] User Metrics - Average monthly paying users reached a record high of 47.7 million, up 2.8% year-on-year from 46.4 million[3] - Annual paying users grew by 8.8% year-on-year to 252.9 million, also a record high[3] - Cumulative service users for the twelve months increased by 7.3% year-on-year to 2,019.4 million[3] Revenue Breakdown - Revenue from the core online travel platform rose by 14.9% from RMB 4,012.8 million to RMB 4,608.8 million during the same period[21] - Accommodation booking service revenue increased by 14.7% from RMB 1,377.5 million to RMB 1,579.5 million, driven by higher demand[21] - Transportation ticketing service revenue grew by 9.0% from RMB 2,026.8 million to RMB 2,208.7 million, attributed to increased demand for value-added products and services[21] - Other revenue surged by 34.9% from RMB 608.5 million to RMB 820.6 million, mainly due to growth in hotel management services and value-added products[22] - Vacation revenue decreased by 8.0% from RMB 978.7 million to RMB 900.3 million, primarily due to ongoing safety concerns in Southeast Asia[23] Expenses and Costs - Total sales costs increased by 3.3% from RMB 1,826.8 million to RMB 1,887.3 million, with the cost-to-revenue ratio decreasing from 36.5% to 34.2%[26] - Selling and marketing expenses rose by 16.9% from RMB 1,467.6 million to RMB 1,715.4 million, with the expense-to-revenue ratio increasing from 29.2% to 31.0%[28] - Income tax expenses increased from RMB 152.1 million to RMB 174.7 million due to higher taxable income[34] - The total expenses for sales and marketing for the three months ended September 30, 2025, were RMB 1,715,364 thousand, compared to RMB 1,467,569 thousand in 2024, indicating a rise in investment in marketing efforts[42] Assets and Liabilities - As of September 30, 2025, total assets amounted to RMB 40,987,208 thousand, an increase from RMB 37,777,196 thousand as of December 31, 2024, representing a growth of approximately 5.8%[45] - Total liabilities increased to RMB 17,604,498 thousand from RMB 16,814,889 thousand, reflecting a rise of about 4.7%[46] - The equity attributable to shareholders rose to RMB 22,384,995 thousand, up from RMB 20,001,471 thousand, marking an increase of approximately 11.9%[46] - Cash and cash equivalents decreased to RMB 5,786,558 thousand from RMB 8,019,963 thousand, a decline of about 28.8%[47] - The company had a total of 3,653,887 thousand in retained earnings as of September 30, 2025, compared to 1,751,576 thousand at the end of 2024, indicating significant profit retention[46] Strategic Initiatives - The company maintained a strong partnership with Tencent, leveraging the WeChat ecosystem as a key traffic channel[9] - The upgraded membership program includes enhanced benefits such as exclusive customer service and free cancellations, aimed at increasing user loyalty[10] - The company has intensified its marketing efforts on social media platforms to engage younger users and enhance brand exposure[9] - Strategic partnerships with airport management groups aim to enhance marketing and product innovation, particularly in air-rail intermodal products[14] Management and Governance - The company announced a change in the co-chairman of the board, with Jiang Hao appointed effective November 25, 2025, following the resignation of Liang Jianzhang[51] - The board of directors consists of the following members: Wu Zhixiang (Co-Chairman), Ma Heping (CEO), and independent non-executive directors Yang Jiahong, Dai Xiaojing, and Han Yuling[56] - Non-executive directors include Liang Jianzhang, Jiang Hao (Co-Chairman), and Xie Qinghua, along with Brent Richard Irvin[57] Audit and Compliance - The audit committee reviewed the financial performance for the three months ended September 30, 2025, ensuring compliance with relevant accounting standards[50]
同程旅行(00780) - 2025 Q3 - 季度业绩