Core Viewpoint - Tongcheng Travel has achieved an ESG rating of AAA from MSCI, placing it in the top 5% globally, reflecting its strong commitment to environmental, social, and governance practices [1]. Group 1: ESG Performance - As a leading player in the domestic tourism market, Tongcheng Travel integrates ESG practices into its business operations and culture to achieve long-term sustainable development [2]. - The company emphasizes a "people-oriented" management philosophy, viewing talent as its most valuable resource and striving to create a diverse, equitable, and inclusive workplace [2]. - Tongcheng Travel has been recognized for its ESG management, being included in the S&P Global "Sustainability Yearbook (China Edition)" for three consecutive years and receiving the "Best Progress in Industry" award [3]. Group 2: Technological Innovation - Since 2025, generative AI technology has significantly impacted both supply and demand in the tourism industry, with Tongcheng Travel leveraging AI to enhance supply chain capabilities and user experience [2]. - In March 2025, Tongcheng Travel's subsidiary, Lvzhi Technology, announced the full integration of AI models like DeepSeek and Alibaba's Tongyi Qianwen into its hotel management system, achieving a 50% efficiency improvement in operational processes [2]. - The company accelerated the iteration of its AI products, launching the upgraded version of "Chengxin AI" called "DeepTrip," which facilitates a seamless user experience from itinerary planning to product booking [3]. Group 3: Future Outlook - Tongcheng Travel plans to continue its commitment to the value of "customer first" by enhancing operational efficiency and fostering closer partnerships with collaborators [3]. - The company aims to work collaboratively with employees to promote sustainable development principles [3].

8月28日早间，携程集团在港交所公告，2025年第二季度，携程集团净营业收入为148亿元人民币，同比 上升16%，环比上升7%；归属于携程集团股东的净利润为48亿元人民币，相比2024年同期为38亿元人 民币，相比上季度为43亿元人民币。（界面） ...

Group 1 - The core idea of the news is the significant increase in inbound foreign travelers to Beijing, prompting Ctrip to establish a one-stop inbound travel consultation center at Beijing Capital Airport to enhance the travel experience [2][3] - In the first five months of this year, the total number of inbound foreign travelers at Beijing port reached 1.21 million, a 40% increase compared to the same period last year, with 690,000 benefiting from the transit visa exemption policy, doubling last year's figures [2] - Ctrip's new center offers over ten high-frequency services for inbound travelers, including payment guidance, itinerary planning, and accommodation booking, aiming to provide a comprehensive solution for their needs [2][3] Group 2 - Ctrip's "Smart Travel Future" hotel empowerment plan aims to help hotels overcome language barriers using AI, resulting in a significant increase in inbound orders [5][6] - The hotel manager reported that the use of Ctrip's multilingual AI system reduced response time from half a day to just 30 minutes, leading to an 8-fold increase in inbound orders in the past month [5] - The plan is expected to drive a 100% annual growth in inbound travel orders for partner hotels over the next three years [6] Group 3 - Ctrip hosted the Envision 2025 Global Partner Conference in Shanghai and Chengdu, attracting over 3,000 tourism industry partners from 74 countries, setting a record for the number of overseas professionals received by the Chinese tourism industry [8] - The event featured a global live broadcast that reached over 10 million viewers, promoting tourism in Sichuan, which saw a 52% increase in inbound tourist numbers and a 54% increase in tourism consumption from January to August 2025 [8] Group 4 - The 2025 Innovation Tourism Contribution Award recognized 20 global tourism innovation projects, providing a low-risk platform for traditional scenic spots to test new technologies and business models [10] - The award aims to encourage the tourism industry to innovate and develop sustainable practices, with a prize of 400,000 yuan for the winning projects [10] Group 5 - Ctrip's I+I project aims to enhance international transfer services for Sichuan Airlines, resulting in a 101% increase in international transfer ticket sales in the first half of the year [12] - The project focuses on optimizing online product displays and marketing exposure to boost passenger flow through domestic airlines and airports [12] Group 6 - Ctrip launched a zero-carbon practice project in Ningxia, showcasing sustainable development in rural tourism through the establishment of a holiday farm [16] - The project employs local villagers and aims to create job opportunities while preserving traditional culture and heritage [16] Group 7 - Ctrip's collaboration with 15 key tourism cities to promote self-driving travel experiences has led to a significant increase in rental orders, with a 200% year-on-year growth in the core rental product [18][19] - The initiative combines car rentals with deep cultural experiences, enhancing travel freedom and cultural immersion for tourists [19]

Core Insights - Ctrip Group reported a net revenue of 14.843 billion RMB for Q2 2025, representing a year-on-year increase of 16.22% [1] - The net profit attributable to shareholders for the same quarter was 4.846 billion RMB, showing a year-on-year growth of 26.43% [1] Revenue Breakdown - Accommodation booking revenue for Q2 2025 reached 6.2 billion RMB, reflecting a year-on-year increase of 21% and a quarter-on-quarter growth of 12% [1] - Transportation ticketing revenue was 5.4 billion RMB, with a year-on-year increase of 11% and stable quarter-on-quarter performance [1] International and Inbound Tourism - Ctrip's international OTA platform bookings grew by over 60% year-on-year in Q2 2025 [1] - Inbound tourism bookings saw a remarkable increase of over 100% year-on-year, driven primarily by demand from South Korea and Southeast Asia [1]

恒指低开0.68%，恒生科技指数跌0.99%。科网股延续调整，美团大跌近10%，Q2经调整净利同比骤降 89%，理想汽车、小鹏汽车跌4%；医药股多数反弹，信达生物涨超4%；携程集团绩后高开5%，二季度 营收同比升16%。 ...

携程集团-S(09961)高开逾5%，截至发稿，涨5.66%，报541.5港元，成交额1.33亿港元。 消息面上，携程集团发布2025年二季度业绩，该集团取得净收入人民币148.43亿元(单位下同)，同比增 加16.22%；归属携程集团有限公司净利润48.46亿元，同比增加26.43%。公司指出，第二季度国际各业 务板块继续呈现强劲增长态势，国际OTA平台总预订同比增长超过60%；入境旅游预订同比增长超过 100%；出境酒店和机票预订已全面超越2019年疫情前同期的120%水平。 ...

携程集团(9961.HK)涨超6%，报544港元，股价创2月17日以来新高。 公司公布截至6月底止中期业绩，股东应占净利润91.23亿元，同比升12.01%；每股基本盈利13.82元。 收入合计287.14亿元，同比增16.21%。 单计截至6月底止季度，股东应占净利润48.46亿元，同比增26.43%；每股基本盈利7.34元。收入合计 148.64亿元，同比升16.23%，超预期。经调整EBITDA为49亿元，去年同期为44亿元。经调整EBITDA 利润率33%，按年降2个百分点。 另外，携程董事会8月批准一项新的股份回购计划。据此，公司获授权回购总值不超过50亿美元(约390 亿港元)的已发行普通股及/或美国存托凭证(ADS)。 ...

Core Insights - Ctrip Group-S (09961) opened over 5% higher and is currently up 5.66%, trading at HKD 541.5 with a transaction volume of HKD 133 million [1] Financial Performance - For Q2 2025, Ctrip Group reported a net revenue of RMB 14.843 billion, representing a year-on-year increase of 16.22% [1] - The net profit attributable to Ctrip Group Limited was RMB 4.846 billion, showing a year-on-year growth of 26.43% [1] Business Growth - The company highlighted strong growth across its international business segments, with total bookings on the international OTA platform increasing by over 60% year-on-year [1] - Inbound travel bookings surged by over 100% year-on-year [1] - Outbound hotel and flight bookings have fully surpassed 120% of the levels seen in the same period in 2019, prior to the pandemic [1]

关于港股后市 中泰国际指出，尽管港股估值已经大幅修复，恒生指数预测PE已修复至过去七年接近80%分位数，但考 虑到外部货币政策不确定性有所下降，内部"反内卷"、产业扶持等政策仍在加码，市场仍具备上行支 撑。 国金证券指出，由于9月降息或已成定局，考虑到港股今年相对A股的超额已经大幅回吐，A-H市场将重 回统一起跑线，企业盈利变化将成为两地市场表现差异的驱动。 华泰证券发布港股策略研报称，往后看，外资依然有继续增配中国市场空间：1)海外流动性易松难紧， 不仅因为货币政策，还有金融监管、发债久期调整等，美元流动性可能趋势偏松；2)国内基本面预期改 善，人民币汇率仍有升值空间。但也需要注意的是，当前外资在港股市场重要性已经有所下降，南向资 金在互联互通标的中成交占比已经超过40%，其未来流入的持续性同样甚至更加值得关注。 恒生指数低开0.68%，恒生科技指数跌0.99%。携程集团涨近6%，公司获授权回购总值不超过50亿美元 股票。 本文转载自"腾讯自选股"，智通财经编辑：徐文强。 ...

Group 1 - The core viewpoint of the article highlights Ctrip Group's strong financial performance in Q2 2025, with a net revenue of 14.8 billion yuan, representing a 16% year-on-year growth [1] - In terms of business segments, accommodation booking revenue reached 6.2 billion yuan, up 21% year-on-year; transportation ticketing revenue was 5.4 billion yuan, an 11% increase; vacation revenue was 1.1 billion yuan, growing by 5%; and business travel management revenue was 692 million yuan, up 9% [1] - Ctrip's international OTA platform saw a more than 60% year-on-year increase in flight bookings, with inbound travel bookings doubling compared to the previous year, and outbound hotel and flight bookings recovering to 120% of 2019 levels [1] Group 2 - Ctrip's Executive Chairman Liang Jianzhang emphasized the importance of tourism as a key driver for economic development and cultural exchange, expressing confidence in the long-term growth prospects of the industry [1] - The company announced a new share repurchase plan, authorized to buy back up to 5 billion USD of its issued common stock and/or American Depositary Receipts, subject to market conditions and applicable laws [1]