Investment Rating - The investment rating for the company is "Buy" with a target price raised to HKD 24.00, indicating a potential upside of 27.8% from the current price of HKD 18.78 [1][8]. Core Insights - The company's quarterly performance exceeded expectations, driven by the consolidation of travel business, with revenue reaching RMB 3.1 billion, a year-on-year increase of 110% [1][2]. - The adjusted net profit for the quarter was RMB 480 million, with a net profit margin of 15%, slightly above expectations [1][2]. - The report anticipates a revenue growth of 20-25% for the full year, with a profit increase of 23% [2][3]. Financial Performance Summary - For the fiscal year ending December 31, 2023, the company is projected to generate revenue of RMB 11.896 billion, a year-on-year growth of 80.7% [3][8]. - The adjusted net profit for 2023 is expected to be RMB 2.199 billion, reflecting a significant recovery from the previous year [3][8]. - The earnings per share (EPS) for 2023 is forecasted at RMB 0.98, with a substantial year-on-year growth of 236.7% [3][8]. Revenue Breakdown - The company's revenue is expected to be driven by the traditional OTA business, with a projected 22% year-on-year growth in Q1 2024 [2][3]. - The travel segment, including transportation and accommodation, is anticipated to see significant growth, with accommodation nights increasing by 70% compared to 2019 levels [2][3]. - The overall revenue for 2024 is projected to reach RMB 17.458 billion, with a growth rate of 46.8% [3][8]. Valuation and Market Position - The report has adjusted revenue and profit forecasts for 2024 upwards by 28% and 7% respectively, maintaining a price-to-earnings ratio of 18 times for 2024 [2][3]. - The company is well-positioned to benefit from the ongoing recovery in domestic travel demand and has a competitive advantage in lower-tier markets [2][3]. - The integration of the travel business is expected to enhance resource synergy and provide long-term growth opportunities [2][3].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不就因本公告的全部或任何部份內容所產生或因 依賴該等內容而引致的任何損失承擔任何責任。 Tongcheng Travel Holdings Limited 同程旅行控股有限公司 （於開曼群島註冊成立的有限公司） （股票代號：0780) 截至二零二三年十二月三十一日止年度之業績公告 本公司董事會欣然公佈本集團截至二零二三年十二月三十一日止年度的經審核綜 合業績連同二零二二年同期的比較數字。 截至二零二三年十二月三十一日止三個月 1 • 收入由二零二二年第四季度的人民幣1,500.1百萬元同比增加109.6%至二零二 三年同期的人民幣3,144.5百萬元。 • 經調整EBITDA由二零二二年第四季度的人民幣244.3百萬元增加193.0%至二 零二三年同期的人民幣715.9百萬元。經調整EBITDA利潤率由二零二二年第 四季度的16.3%增加至二零二三年第四季度的22.8%。 • 經調整淨利潤由二零二二年第四季度的人民幣37.5百萬元增加1,188.3%至二 零二三年第四季度的人民幣482. ...

转自：证券时报·e公司 e公司讯，同程旅行发布的数据显示，初一至初四，全国主要县城的酒店预订量同比增长超120%，预订量增幅较大的县城主要分布在广西、迪庆、惠州、延边、福州、湖州等城市。此外，春节假期前四天为出境游出发客流较为集中的时间段。数据显示，2月10日至13日，新加坡、曼谷、中国香港、中国澳门的酒店预订量同比增幅均在300%以上，其中，新加坡酒店预订量同比增幅超过800%。 海量资讯、精准解读，尽在新浪财经APP ...

2月4日，据中国国家移民管理局预测，今年春节假期全国口岸将迎来新一轮出入境客流高峰，日均通关人数将达180万人次，较2023年春节增长约3.3倍，与2019年春节出入境流量相当。知名旅游业杂志《TTG亚洲》(TTG Asia)写道，来自中国的游客正在激增。为了迎接中国游客，从2月10日中国春节假期开始，亚洲主要的旅游目的地都安排了充满活力的特色活动，中国游客正在重返全球旅游市场。 中国游客重返全球市场  对于从事出入境服务工作的范女士来说，今年春节是她久违的忙碌年。在历经3年的沉寂后，她感觉曾经流失的顾客正在回归，“基本每天的客户单都是满的”。 2月1日，中国旅游研究院发布的《中国出境旅游发展报告(2023-2024)》显示，预计2024年我国出境游市场规模将达到1.3亿人次，恢复到2019年的八成左右。 在今年春节期间，多家旅游线上平台的数据也显示，出境业务的预订量有明显增长，海外旅游目的地的检索量达近4年来的峰值。携程国际版Trip.com数据显示，截至今年1月中旬，春节假期中国出境游预订量已超过2023年的10倍。旅游平台飞猪数据显示，其平台上的预订量同比去年增长超15倍。同程旅行数据显示，2024年春 ...

智通财经APP获悉，同程旅行(00780)现涨超4%，截至发稿，涨4.23%，报16.74港元，成交额3359.19万港元。 消息面上，1月25日，中国和新加坡在北京签署相关协定，自2024年2月9日(农历除夕)起，双方持普通护照人员可免签入境国家从事旅游、探亲、商务等私人事务，停留不超过30日。同程旅行数据显示，消息发布半小时内，同程旅行平台新加坡相关搜索热度较前日同一时段上涨340%，春节假期期间往返新加坡的机票搜索量较前日同一时段上涨超过5倍。 招商证券此前指出，国内OTA行业得益于在线化率的提升，市占率稳步增长，每年在线化率提升约3-4%，目前高线城市的在线化率超过50%，逐渐接近饱和，低线城市在线化率目前20%，长期来看，出海有望助力OTA企业进一步扩容，尤其是东南亚地区具有非常广阔的前景，看好短期国际旅游市场复苏，预计明年东南亚旅游GMV将完全恢复至疫前水平，中长期来看，类似于印尼、越南等东南亚各国，OTA的使用率大概40%-60%，未来也同样拥有比较广泛的提升空间。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 Tongcheng Travel Holdings Limited 同 程 旅 行 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股票代碼：0780） 截至二零二三年九月三十日止三個月之業績公告 本公司董事會欣然公佈本集團截至二零二三年九月三十日止三個月未經審核綜合 業績，連同二零二二年同期比較數字。 截至二零二三年九月三十日止三個月 • 收入由二零二二年第三季度的人民幣2,048.0百萬元同比增加61.1%至二零二 三年第三季度的人民幣3,299.3百萬元。 • 經調整EBITDA由二零二二年第三季度的人民幣462.2百萬元增加88.2%至二 零二三年第三季度的人民幣870.0百萬元。經調整EBITDA利潤率由二零二二 年第三季度的22.6%增加至二零二三年第三季度的26.4%。 • 經調整溢利淨額由二零二二年第三季度的人民幣251.7百萬元增加146.5%至二 零二三年第三季度的人民幣 ...

Tongcheng Travel Holdings Limited 同程旅行控股有限公司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司) Stock Code 股份代號：0780 中期 報 告 INTERIM REPORT 2023 CONTENTS 目錄 2 CORPORATE INFORMATION 公司資料 6 KEY HIGHLIGHTS 摘要重點 10 BUSINESS REVIEW AND OUTLOOK 業務回顧與展望 17 MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析 34 CORPORATE GOVERNANCE AND OTHER INFORMATION 企業管治及其他資料 83 REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION 中期財務資料審閱報告 85 INTERIM CONDENSED CONSOLIDATED INCOME STATEMENT 中期簡明綜合收益表 87 INTERIM C ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 Tongcheng Travel Holdings Limited 同 程 旅 行 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股票代碼：0780） 截至二零二三年六月三十日止三個月及六個月之業績公告 本公司董事會欣然公佈本集團截至二零二三年六月三十日止三個月及六個月未經 審核綜合業績，連同二零二二年同期比較數字。 截至二零二三年六月三十日止三個月 • 收入由二零二二年同期的人民幣1,318.7百萬元同比增加117.4%至人民幣 2,866.3百萬元。 • 經調整EBITDA由二零二二年第二季度的人民幣292.2百萬元增加175.8%至二 零二三年第二季度的人民幣805.8百萬元。經調整EBITDA利潤率由二零二二 年第二季度的22.2%增加至二零二三年第二季度的28.1%。 • 經調整溢利淨額由二零二二年第二季度的人民幣112.0百萬元增加428.9%至二 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不就因本公告的全部或任何部份內容所產生或因 依賴該等內容而引致的任何損失承擔任何責任。 Tongcheng Travel Holdings Limited 同 程 旅 行 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股票代號：0780） 截至二零二三年三月三十一日止三個月之業績公告 本公司董事會欣然公佈本集團截至二零二三年三月三十一日止三個月的未經審核 綜合業績連同二零二二年同期的比較數字。 截至二零二三年三月三十一日止三個月 • 收入由二零二二年第一季度的人民幣1,718.0百萬元同比增加50.5%至二零二 三年第一季度的人民幣2,586.1百萬元。 • 期內經調整EBITDA由二零二二年第一季度的人民幣438.4百萬元同比增加 67.0%至二零二三年第一季度的人民幣732.2百萬元。經調整EBITDA利潤率 由二零二二年第一季度的25.5%增加至二零二三年第一季度的28.3%。 • 期內經調整溢利由二零二二年第一季度的人民幣245.0百萬元同比增加105.6% 至二零 ...

Financial Performance - Total revenue for Tongcheng Travel Holdings Limited reached RMB 3.5 billion, representing a year-on-year increase of 15%[2] - The company reported a net profit of RMB 500 million, a 12% increase year-on-year[2] - Revenue decreased by 12.6% year-to-year to RMB6,584.7 million from RMB7,537.6 million in 2021[8] - Adjusted EBITDA decreased by 24.6% year-to-year from RMB1,906.9 million in 2021 to RMB1,437.2 million in 2022, with an adjusted EBITDA margin decrease from 25.3% to 21.8%[8] - Adjusted net profit decreased by 50.6% from RMB1,307.8 million in 2021 to RMB646.2 million in 2022, with adjusted net margin decreasing from 17.4% to 9.8%[8] - Gross profit for 2022 was RMB 4,778.0 million, down from RMB 5,647.9 million in 2021[33] - Operating loss for 2022 was RMB 24.2 million, a significant decline from an operating profit of RMB 895.3 million in 2021[33] - The company reported a net loss of RMB163.6 million, a significant decrease from a profit of RMB713.5 million in 2021[76] User Engagement and Growth - The number of active users grew to 50 million, an increase of 20% compared to the previous year[2] - The company reported a significant increase in user engagement, with a year-over-year growth of 25% in active users[125] - User retention rates improved to 85%, up from 80% in the previous year[126] - The paying ratio increased from 12.2% in 2021 to 12.7% in 2022[12] Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in international user base[2] - The company aims for a significant rebound in the travel industry in 2023, supported by a strong recovery trend since the Chinese New Year travel rush[28] - The company plans to explore international markets to capture more growth opportunities[28] - The company has set a target to expand its market presence by entering three new countries by the end of 2024[127] Technology and Innovation - Investment in new technology and product development increased by 25%, focusing on enhancing user experience and operational efficiency[2] - The company optimized its Huixing system to provide intelligent travel solutions, enhancing customer service efficiency through the introduction of a self-developed AI system[24] - The management team is committed to innovation and the development of new technologies to improve customer experience[106] Financial Management and Investments - Total assets increased to RMB25,034.7 million in 2022 from RMB21,506.4 million in 2021[14] - The company generated net cash from operating activities of RMB302.3 million, a decrease of 83.5% compared to RMB1,837.7 million in 2021[81] - Cash and cash equivalents increased to RMB3,547.0 million as of December 31, 2022, compared to RMB2,045.6 million in 2021, representing a growth of 73.3%[79] - The company plans to continue exploring potential acquisitions, investments, joint ventures, and partnerships that align with its overall business strategies[97] Corporate Governance and Social Responsibility - The MSCI ESG rating was upgraded from "A" to "AA" in September 2022, reflecting significant improvements in governance and social responsibility[25] - The company will continue to focus on corporate governance, environmental protection, and social responsibility to generate long-term sustainable value[29] - The company made charitable donations totaling RMB 773,900 during the year ended December 31, 2022[147] Marketing and Customer Acquisition - Marketing expenses increased by 10% to support brand awareness and user acquisition initiatives[2] - The company plans to enhance its digital marketing strategy, allocating an additional $5 million to this initiative[127] - The Group will continue to invest substantially in sales and marketing efforts, broadening user acquisition channels and improving market competition analysis[167] Leadership and Management - The company has a strong leadership team with members holding advanced degrees from prestigious institutions, including a Ph.D. from Stanford University[107] - The leadership team has a proven track record in the travel industry, contributing to the company's strategic direction and growth[106] - Xie Qing Hua appointed as non-executive director in April 2023, previously served as corporate vice president of Tencent since December 2003[112] Shareholder Information - As of December 31, 2022, Mr. Wu Zhixiang holds 17,274,600 shares, representing approximately 0.77% of the total issued share capital[180] - Tencent Holdings Limited has an interest in 476,215,740 shares, representing 21.26% of the total issued share capital[186] - The company is not aware of any other substantial shareholders beyond those disclosed as of December 31, 2022[190]