Core Insights - Ctrip Group reported its unaudited financial results for Q4 and the full year of 2025, showing a net revenue of 62.4 billion yuan for the year, a 17% year-on-year increase, and a net profit attributable to shareholders of 33.3 billion yuan, up 95% [1] - In Q4 2025, the company achieved a net revenue of 15.4 billion yuan, reflecting a 21% year-on-year growth, with a net profit of 4.3 billion yuan, which is a 95.5% increase compared to the same period last year [1] - The significant increase in net profit for 2025 was primarily due to investment gains of 19.9 billion yuan included in other income/expenses, which greatly exceeded the profit increment, compared to only 1.1 billion yuan in 2024 [1] Management Changes - Ctrip announced board member changes, with co-founder Fan Min resigning as director and president, and co-founder Ji Qi resigning as a director effective February 25, 2026 [1] - Fan Min has been with Ctrip since its inception in 1999, serving in various roles including Executive Vice President and COO, and later as Vice Chairman and President [1] - Ji Qi, also a co-founder, has held positions such as CEO and independent director, and has been the Executive Chairman of the board since August 2009 [1] New Appointments - The board appointed Wu Yihong and Xiao Yang as new independent directors, with Li Jipei joining the board's compensation committee [2] - Wu Yihong has extensive experience in financial oversight and corporate governance, having served as CFO and Chief Strategy Officer at Home Inn, and currently holds independent director roles at several companies including MakeMyTrip [2] - Xiao Yang specializes in capital risk management and has worked as an investment analyst at American Capital Group's Hong Kong branch, leading asset allocation research in the Asia-Pacific region [2] Market Performance - As of the latest market close, Ctrip's stock price fell by 3.04% to 401.2 HKD per share, with a total market capitalization of 286.27 billion HKD [2] - Since the beginning of the year, Ctrip's stock has declined by over 29% [2]