TRIP.COM(HK:09961)2024-02-21 22:10Financial Performance - In Q4 2023, the company's net revenue reached RMB 10.3 billion (USD 1.5 billion), representing a year-on-year increase of over 105%[3] - For the full year 2023, net revenue was RMB 44.5 billion (USD 6.3 billion), a year-on-year increase of 122%[3] - The company's accommodation booking revenue for Q4 2023 was RMB 3.9 billion (USD 550 million), up 131% year-on-year[3] - The travel vacation business revenue in Q4 2023 surged by 329% year-on-year, reaching RMB 707 million (USD 99 million)[3] - Total revenue for the year ending December 31, 2023, reached RMB 44,562 million, a significant increase from RMB 20,055 million in 2022, representing a growth of 122%[15] - The company reported a net income of RMB 10,680 million for the year ending December 31, 2023, compared to RMB 2,635 million in 2022, reflecting a substantial increase of 304%[15] Profitability Metrics - The adjusted EBITDA for Q4 2023 was RMB 2.9 billion (USD 410 million), with an adjusted EBITDA margin of 28%, compared to 6% in the same period of 2022[2] - In 2023, the total net profit was 10 billion RMB (1.4 billion USD), a significant increase from 1.4 billion RMB in 2022[5] - In Q4 2023, the net profit was 1.3 billion RMB (189 million USD), down from 2.1 billion RMB in Q4 2022 and 4.6 billion RMB in Q3 2023[5] - Adjusted EBITDA for Q4 2023 was 2.9 billion RMB (410 million USD), compared to 286 million RMB in Q4 2022 and 4.6 billion RMB in Q3 2023, with an adjusted EBITDA margin of 28%[5] - The adjusted net profit attributable to Ctrip Group shareholders for Q4 2023 was 2.7 billion RMB (376 million USD), compared to 498 million RMB in Q4 2022[5] Expenses and Investments - Research and development expenses for Q4 2023 amounted to RMB 2.9 billion (USD 410 million), a 39% increase year-on-year[4] - Sales and marketing expenses in Q4 2023 were RMB 2.3 billion (USD 329 million), reflecting a 103% year-on-year increase[4] - The company plans to continue investing in technology and product innovation to enhance customer service and promote sustainable growth in the travel industry[2] - The company plans to continue expanding its market presence and enhancing its product offerings to drive future growth[15] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[17] Shareholder Returns - The company repurchased approximately 6.8 million American Depositary Shares for a total consideration of about 224 million USD from September 2023 to the announcement date[7] - A strategic capital return plan of up to 300 million USD was authorized by the board for implementation in 2024, which may include stock buybacks and cash dividends[7] Balance Sheet Highlights - As of December 31, 2023, cash and cash equivalents, restricted cash, short-term investments, and held-to-maturity deposits totaled 77.3 billion RMB (10.9 billion USD)[6] - The total assets of the company as of December 31, 2023, amounted to RMB 219,137 million, compared to RMB 191,691 million at the end of 2022, reflecting an increase of 14.3%[13] - Cash and cash equivalents increased to RMB 43,983 million in 2023 from RMB 18,487 million in 2022, showing a growth of 138%[13] - The total liabilities rose to RMB 96,131 million in 2023, up from RMB 78,672 million in 2022, indicating an increase of 22.2%[14] - The total equity attributable to shareholders increased to RMB 122,184 million in 2023 from RMB 112,283 million in 2022, a growth of 8.4%[14] - The company’s customer prepayments increased to RMB 13,380 million in 2023, up from RMB 8,278 million in 2022, indicating a growth of 61%[14] Earnings Per Share - For the full year 2023, the diluted earnings per share were 14.78 RMB (2.08 USD), increasing from 1.4 RMB in 2022[6] - The diluted earnings per share for the third quarter of 2023 was RMB 6.84, compared to RMB 3.12 in the same quarter of 2022, marking an increase of 119%[16]