智通财经网·2025-11-20 02:34Core Viewpoint - Ctrip Group's recent financial performance shows significant growth in revenue and net profit, driven by increasing global travel demand, although the stock price has declined by over 3% following the earnings report [1] Financial Performance - Ctrip Group reported a net operating revenue of 18.3 billion RMB for Q3 2025, representing a year-on-year increase of 16% [1] - The net profit for the quarter reached 19.9 billion RMB, a substantial increase compared to 6.8 billion RMB in the same period of 2024 [1] - The financial results exceeded market expectations, with revenue and non-GAAP operating profit growing by 16% and 12% year-on-year, respectively [1] Market Insights - According to Zhongyin International, Ctrip's progress in acquiring traffic in both domestic and overseas markets (Trip.com platform) has been notable [1] - UBS estimates that Trip.com's overseas revenue for the last quarter will increase by over 50% year-on-year, accounting for 18% of total revenue [1] - The outbound tourism business is expected to maintain a mid-double-digit growth rate (approximately 13% to 17%), with limited impact from the Japanese market as leisure travelers shift destinations [1] Future Outlook - The fourth quarter is anticipated to show resilience in domestic business revenue, benefiting from an increase in hotel occupancy rates, although the average daily room rate may experience a slight decline [1]