TRIP.COM(HK:09961)2022-06-27 22:06Financial Performance - In Q1 2022, Trip.com Group reported net revenue of RMB 4.1 billion (USD 649 million), remaining stable year-over-year but down 12% quarter-over-quarter due to the impact of COVID-19 in China[4]. - The company experienced a net loss attributable to shareholders of RMB 989 million (USD 155 million) in Q1 2022, compared to a net profit of RMB 1.8 billion in the same period last year[6]. - Total revenue for Q1 2022 was RMB 4,111 million, a slight increase from RMB 4,109 million in Q1 2021[16]. - Net loss attributable to Ctrip Group for Q1 2022 was RMB 989 million, compared to a net profit of RMB 1,780 million in Q1 2021[17]. - Gross profit for Q1 2022 was RMB 3,042 million, down from RMB 3,074 million in Q1 2021, reflecting a gross margin of approximately 74%[16]. - Operating expenses for Q1 2022 totaled RMB 3,401 million, a decrease from RMB 3,861 million in Q1 2021[16]. - Adjusted EBITDA for Q1 2022 was RMB 91 million (USD 16 million), with an adjusted EBITDA margin of 2%, improving from -5% in Q1 2021[5]. - Adjusted EBITDA for Q1 2022 was RMB 91 million, compared to a negative RMB 216 million in Q1 2021, indicating improved operational efficiency[18]. - The company reported a basic loss per share of RMB 1.52 for Q1 2022, compared to earnings of RMB 2.95 per share in Q1 2021[17]. Revenue Breakdown - Hotel booking revenue in Q1 2022 was RMB 1.5 billion (USD 229 million), a decrease of 8% year-over-year and 24% quarter-over-quarter, primarily affected by the pandemic[4]. - Air ticketing revenue increased by 10% year-over-year and quarter-over-quarter to RMB 1.7 billion (USD 262 million), driven by strong recovery in overseas ticket sales[4]. - Ctrip's accommodation booking revenue for Q1 2022 was RMB 1,450 million, down from RMB 1,580 million in Q1 2021[16]. - Transportation ticketing revenue increased to RMB 1,663 million in Q1 2022, up from RMB 1,506 million in Q1 2021, showing a growth of approximately 10.4%[16]. Cash and Assets - Cash and cash equivalents, restricted cash, and short-term investments totaled RMB 63.3 billion (USD 10 billion) as of March 31, 2022[6]. - Total assets of Trip.com Group as of March 31, 2022, amounted to RMB 187.8 billion (approximately USD 29.6 billion)[14]. - Total liabilities decreased from RMB 81.4 billion to RMB 78.1 billion from December 31, 2021, to March 31, 2022[15]. - Shareholders' equity for Trip.com Group was RMB 108.9 billion (approximately USD 17.2 billion) as of March 31, 2022[15]. - Cash and cash equivalents, along with restricted cash, totaled RMB 20.9 billion (approximately USD 3.3 billion) as of March 31, 2022[12]. - Short-term investments increased from RMB 29.6 billion to RMB 30.4 billion from December 31, 2021, to March 31, 2022[12]. - Net accounts receivable decreased from RMB 4.6 billion to RMB 4.0 billion during the same period[12]. - Total current assets amounted to RMB 64.5 billion (approximately USD 10.2 billion) as of March 31, 2022[13]. - The company reported a total of RMB 59.4 billion in goodwill as of March 31, 2022[14]. - Deferred tax assets increased from RMB 1.7 billion to RMB 1.8 billion from December 31, 2021, to March 31, 2022[14]. - The company’s total liabilities and shareholders' equity amounted to RMB 191.9 billion as of December 31, 2021[15]. Market Trends and Strategies - Local hotel bookings increased by over 20% year-over-year, indicating a strong recovery in domestic travel[3]. - International flight bookings surged by over 270% year-over-year, reflecting a robust recovery in the European and Asia-Pacific markets[3]. - The company plans to adapt its strategies to capture growth opportunities amid ongoing market fluctuations[3]. - R&D expenses in Q1 2022 were RMB 2 billion (USD 311 million), accounting for 48% of net revenue, reflecting a decrease of 11% year-over-year[5]. - Ctrip's weighted average diluted shares outstanding for Q1 2022 were 647,812,835, consistent with the previous quarter[17].