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携程(纪要):海外空间很大,25 年利润不设限
TRIP.COMTRIP.COM(US:TCOM) 海豚投研·2025-02-26 12:22

Financial Results Overview - Total net revenues for Q4 2023 reached RMB 103.3 million, showing a year-over-year growth of 105.5% and a 3.4% increase compared to Q4 2022 [1] - Accommodation revenue was RMB 39.0 million, with a year-over-year increase of 131.1% [1] - Transportation revenue was RMB 41.1 million, reflecting an 86.3% year-over-year growth [1] - Gross profit for Q4 2023 was RMB 83.2 million, with a gross profit margin of 80.5% [1] - Operating profit was RMB 22.0 million, with an operating profit margin of 21.3% [1] Strategic Focus - The company has implemented AI innovations, such as Trip Genie, leading to a 200% increase in traffic and a 100% increase in browsing time in 2024 [2] - International business accounted for 14% of total revenue in Q4, with a 70% year-over-year growth in online flight and hotel bookings [2] Market Trends and Initiatives - Visa applications for inbound tourism increased by 20%, while visa-free entries grew by 112% [3] - The "Old Friends Club" targets travelers aged 50 and above, representing 10% of the user base with 30% higher purchasing power [3] Sustainability and Social Responsibility - The company supports rural revitalization through eco-friendly resorts, creating job opportunities and enhancing local economies [4] - The MSCI rating improved to "A," and the company is recognized in the UN Global Compact [4] Outlook and Commitment - Strong demand across business segments positions the company for sustainable growth in 2025 [5] - The focus on partnerships aims to drive mutual benefits and economic contributions [5]