Group 1 - The company is expected to achieve third-quarter OTA performance in line with previous expectations, with overall revenue and profit projected to grow by 9% and 13% year-on-year respectively, indicating stable growth [1] - The core OTA business is anticipated to meet expectations, with total revenue for the third quarter expected to increase by 9% year-on-year, and core OTA revenue projected to rise by 15% to 4.6 billion RMB [1] - The travel industry is experiencing weak performance due to overseas disruptions, with travel revenue expected to decline by 15% year-on-year, primarily due to weak demand for group tours in certain overseas regions [1] Group 2 - Accommodation and transportation business revenues are expected to grow by 14% and 10% year-on-year respectively, driven by an increase in room nights and growth in Average Daily Rate (ADR) [1] - The adjusted net profit for the third quarter is projected to be 1.03 billion RMB, reflecting a year-on-year increase of 13%, with a corresponding net profit margin of 18.9% [1] - The financial model has been updated, with slight adjustments made to the financial forecasts for 2025-2027, while maintaining a target price of 25.5 HKD and a buy rating [1]
同程旅行(0780.HK)3季度业绩预览：预计OTA收入同比增15%