Ctrip audited financial results for the quarter and the year

According to Yahoo's financial data, 11 of Wall Street analysts averaged 0.23 dollars per share of Ctrip's earnings in the quarter, according to U.S. General Accounting Standards (GAAP). Earnings showed that Ctrip's earnings per share in the quarter was $0.28 trillion, exceeding analysts ' expectations.

In addition, on average, 12 Wall Street analysts expect Ctrip's revenue to reach $228.73 million trillion in the U.S. General Accounting Standards (GAAP). The financial results showed that Ctrip's revenue for the quarter was 238 million dollars, exceeding analysts ' expectations.

According to Yahoo's financial data, 18 of Wall Street analysts average estimates that Ctrip's earnings per share will reach $1.04 trillion in the 2013 fiscal year, according to U.S. General accounting standards. Earnings show that Ctrip's 2013 fiscal year earnings per share of 1.1 U.S. dollars, more than analysts expected.

In addition, on average, 19 Wall Street analysts expect Ctrip to reach $877.2 million trillion in the 2013 fiscal year, according to U.S. General Accounting Standards (GAAP). The results show that Ctrip's 2013 fiscal year revenue was 890 million U.S. dollars, exceeding analysts ' expectations.

2013 Fourth quarterly results summary:

L The net operating income of the fourth quarter of 2013 was 1.4 billion yuan (USD 238 million), which grew by 31%.

The gross profit margin for the fourth quarter of 2013 was 73%, compared with 74% in the same period in 2012.

L The operating profit for the fourth quarter of 2013 was 183 million yuan (USD 30 million), which grew by 53%. In the fourth quarter of 2013, the operating profit was 289 million yuan (USD 48 million), which grew 24% per cent.

L The operating profit rate for the fourth quarter of 2013 was 13%, compared with 11% in the same period in 2012. Excluding equity remuneration, the operating profit rate for the fourth quarter of 2013 was 20%, compared with a 2012-year period of 21%.

L in the fourth quarter of 2013, the net profit attributable to Ctrip shareholders was 261 million yuan (USD 43 million), up 36%. In the fourth quarter of 2013, the net profit attributable to Ctrip shareholders was 368 million yuan (USD 61 million), which grew 20% per cent.

L in the fourth quarter of 2013, the profit was 1.68 yuan (USD 0.28) for each depository voucher. In the fourth quarter of 2013, a diluted 2.36 yuan (USD 0.39) was earned on the basis of the dilution of each depository voucher.

In the fourth quarter of 2013, total equity remuneration amounted to RMB 106 million (USD 18 million), which accounted for 7% of net operating income, and had an effect of 0.68 yuan (0.11 USD) on earnings per depository receipts in the fourth quarter of 2013.

2013 Annual Performance Summary:

• 2013 net operating income of 5.4 billion yuan (890 million U.S. dollars), compared to 2012 growth of 30%.

L 2013 Gross profit margin of 74%, compared with 2012 of the same period of 75%.

L 2013-year operating profit is 838 million yuan (USD 139 million), up 28% from 2012. Excluding equity remuneration, 2013-year operating profit is 1.3 billion yuan (211 million US dollars), up 17% from 2012.

L 2013-year operating profit rate is 16%, flat compared with the same period in 2012. Excluding equity remuneration, the 2013-year operating profit rate is 24%, compared with the same period of 2012 26%.

L The net profit of 2013 to the Ctrip shareholder was 998 million yuan (USD 165 million), which rose 40% compared with 2012. The net profit attributable to Ctrip shareholders in 2013 is 1.4 billion yuan (USD 237 million), which is 25% higher than 2012.

L 2013 diluted per deposit voucher profit of 6.66 yuan (1.10 U.S. dollars), compared with 2012 to 4.98 yuan (0.80 U.S. dollars). If the cost of equity remuneration, diluted 2013 per deposit voucher profit of 9.53 yuan (1.57 U.S. dollars), compared with 2012 of 7.97 yuan (1.28 U.S. dollars).

L 2013 equity remuneration costs amounted to 438 million yuan (72 million U.S. dollars), accounting for 8% of net operating income, and the impact on earnings per depository receipts in 2013 of 2.87 yuan (0.47 USD).

"We are very pleased to announce that Ctrip has achieved gratifying results in the fourth quarter of 2013 and throughout the year," said Liang Jianzhang, chairman and chief executive officer of Ctrip's board. "Ctrip team effectively implemented the company's market expansion strategy, all major business growth accelerated." Ctrip's investment in leisure travel products, price competitiveness, open platforms and mobile platforms has significantly enhanced our leadership in online travel and mobile travel markets. Ctrip Mobile Application Cumulative Download volume recently exceeded 10 million. The peak of about 50% of hotels and 30% of the air ticket transactions from the phone booking. We are encouraged by such performance and opportunities for the future. Ctrip will continue to increase its brand, promotional and new business investment in 2014, further strengthening our one-stop travel service platform. ”

Financial performance and business development in the fourth quarter of 2013

In the fourth quarter of 2013, Ctrip's total operating income was 1.5 billion yuan (252 million U.S. dollars), an increase of 31%. Total operating income fell by 7% in the fourth quarter of 2013.

As of December 31, 2013, Ctrip's total operating income for 2013 was 5.7 billion yuan (USD 944 million), which grew by 30% compared with 2012.

In the fourth quarter of 2013, business receipts for hotel bookings were 642 million yuan (106 million U.S. dollars), an increase of 37%, the growth of which was mainly from the year-on-year increase in hotel bookings of 55% per cent, and was offset by a year-on-year decline in the income of each night. In the fourth quarter of 2013, hotel bookings increased by 5%, mainly affected by the growth of hotel reservation volume.

As of December 31, 2013, hotel bookings for the whole year of 2013 were 2.2 billion yuan (USD 366 million), up 30% from 2012. Hotel reservation operating income accounted for 39% of total operating income in 2013 and 2012.

In the fourth quarter of 2013, ticket service revenue of 579 million yuan (96 million U.S. dollars), an increase of 29%, the growth mainly from the ticket booking volume of 37% year-on-year growth, and by each ticket income year-on-year decline in part offset. In the fourth quarter of 2013, the airline booked business receipts fell 4%, mainly affected by the drop in income per ticket.

As of December 31, 2013, the annual ticket service revenue for 2013 was 2.2 billion yuan (USD 357 million), which grew by 28% compared with 2012. Ticket service revenue accounted for 38% of total operating income in 2013 and 2012.

In the fourth quarter of 2013, the business income of tourism and vacation was 194 million yuan (USD 32 million), which grew 17%, and the growth was mainly from the growth of leisure tourism reservation. In the fourth quarter of 2013, the business receipts of tourism and holiday businesses fell 39%, mainly affected by seasonal factors.

As of December 31, 2013, the annual business receipts for travel and holiday operations in 2013 were 936 million yuan (USD 155 million), which grew by 36% per cent compared with 2012. Tourism business receipts accounted for 16% of the total operating income in 2013 and 2012.

In the fourth quarter of 2013, the business income was 78 million yuan (13 million U.S. dollars), the growth of 36%, the chain growth of 9%, the growth is mainly derived from travel activities driven by the growth of travel demand.

As of December 31, 2013, the business receipts for travel management operations in 2013 were 267 million yuan (USD 44 million), up 34% from 2012. Business management revenue accounted for 5% of the total operating income in 2013 and 2012.

In the fourth quarter of 2013, net operating income of 1.4 billion yuan (238 million U.S. dollars), an increase of 31%. Net operating income fell 7% in the fourth quarter of 2013.

As of December 31, 2013, net operating income for the year 2013 was 5.4 billion yuan (USD 890 million), which grew by 30% per cent compared with 2012.

Gross margin was 73% in the fourth quarter of 2013, compared with 74% in the same period in 2012, compared with 75% in the previous quarter.

As of December 31, 2013, gross profit margin for the year of 2013 was 74%, compared with 2012 of 75%.

In the fourth quarter of 2013, the cost of product development was 333 million yuan (55 million U.S. dollars), up 26%, the main reason for the increase in product developers related costs. In the fourth quarter of 2013, the cost of product development fell by 1%. Excluding equity remuneration, the fourth quarter of 2013 accounted for 21% per cent of net turnover, up from the same period in 2012, compared with 20% in the previous quarter.

As of December 31, 2013, the annual product development cost of 2013 was 1.2 billion yuan (USD 206 million), which rose by 37% compared with 2012. Regardless of the equity remuneration, 2013 development costs accounted for 21% of net turnover, compared with 2012 of 19%.

In the fourth quarter of 2013 sales and marketing costs of 376 million yuan (62 million U.S. dollars), up 34%, the chain Rose 6%, the main reason for the increase in marketing-related activities. Excluding equity pay, sales and marketing costs accounted for 25% of net turnover in the fourth quarter of 2013, up from 24% in the same period in 2012 and 22% in the previous quarter.

As of December 31, 2013, sales and marketing costs for the year 2013 were 1.3 billion yuan (USD 210 million), up 29% from 2012. Excluding equity pay, 2013 sales and marketing costs accounted for 23% of net turnover, slightly higher than 22% in 2012.

In the fourth quarter of 2013, the management cost of 154 million yuan (25 million U.S. dollars), Rose 1% Year-on-year, the chain fell 11%. Excluding equity remuneration, management costs accounted for 6% of net turnover in the fourth quarter of 2013, down from 8% in the same period in 2012 and 7% in the previous quarter.

As of December 31, 2013, the annual management fee for 2013 was 646 million yuan (USD 107 million), up 13% from 2012. Excluding equity remuneration, the management costs accounted for 7% of net turnover in 2013, a slight decline compared with 8% in 2012.

In the fourth quarter of 2013, operating profit of 183 million yuan (30 million U.S. dollars), the year-on-year growth of 53%, the chain fell 39%. In the fourth quarter of 2013, the operating profit was 289 million yuan (48 million U.S. dollars), which Rose 24% and the chain fell 29%.

As of December 31, 2013, the operating profit for the whole year of 2013 was 838 million yuan (USD 139 million), which grew 28% compared with 2012. Excluding equity remuneration, 2013-year operating profit is 1.3 billion yuan (211 million US dollars), up 17% from 2012.

The operating profit rate for the fourth quarter of 2013 was 13%, compared with 11% in the same period in 2012, compared with 19% in the previous quarter. Excluding equity remuneration, the operating profit rate for the fourth quarter of 2013 was 20%, down from 21% in the same period in 2012 and 27% in the previous quarter.

As of December 31, 2013, the operating profit rate for the whole year of 2013 was 16%, unchanged from 2012. Excluding equity remuneration, the operating profit rate for 2013 is 24%, compared with 2012 's 26%.

In the fourth quarter of 2013, the effective tax rate was 26%, which was increased compared with 25% in the same period in 2012. The effective tax rate of income tax is higher than that of 22% in the last quarter, which is mainly affected by the increase in the proportion of deductible equity remuneration.

As of December 31, 2013, the effective tax rate for the year 2013 was 26%, compared with 2012 's 31%. The main reason for the high effective tax rate of 2012 years is that Ctrip paid a 5% of China's withholding tax to pay the 2012 share repurchase plan from a Chinese subsidiary to the direct parent company of Hong Kong.

In the fourth quarter of 2013, the net profit attributable to Ctrip shareholders was 261 million yuan (USD 43 million), which grew 36% and the chain fell 30%. If it does not pay the share price, the net profit of the Ctrip shareholder is 368 million yuan (61 million US dollars), the year-on-year growth is 20%, the chain Falls 24%.

As of December 31, 2013, the net profit attributable to Ctrip's shareholders in 2013 was 998 million yuan (USD 165 million), which grew by 40% per cent compared with 2012. The net profit of the Ctrip shareholder is 1.4 billion yuan (USD 237 million), which is 25% higher than 2012.

In the fourth quarter of 2013, a profit of 1.68 yuan (0.28 USD) was gained by diluting each depository voucher. In the fourth quarter of 2013, a profit of 2.36 yuan (USD 0.39) was earned on the basis of dilution per depository receipts.

As of December 31, 2013, the annual dilution of 2013 for each deposit voucher profit of 6.66 yuan (1.10 U.S. dollars), compared with 2012 of 4.98 yuan (0.80 U.S. dollars). If you do not pay the share price, 2013 annual dilution per deposit voucher earnings of 9.53 yuan (1.57 U.S. dollars), compared with 2012 of 7.97 yuan (1.28 U.S. dollars)

As at December 31, 2013, the balance of cash and short-term investments was 11.5 billion yuan (USD 1.9 billion).

Performance Outlook

Ctrip is expected to laminatiion annual growth of net operating income in the first quarter of 2014. The forecast reflects the initial judgment made by Ctrip based on the current situation and the possibility of adjustment.

Conference

Ctrip management will be in the announcement, the United States Eastern Time February 12, 2014 7:00pm (that is, Shanghai/Hong Kong time Zone February 13, 2014 8:00AM) convened a conference call.

Teleconferencing will be broadcast live and replayed on the Internet (URL http://ir.ctrip.com). The meeting will be maintained for 1 months on the above-mentioned web site.

Telephone dial to listen to the phone call live number: The United States toll-free number +1.877.299.4502, the international dial-in number is + 1.617.597.5442, the password is 45211058#. To register in advance, please click on the following URL:

Https://www.theconferencingservice.com/prereg/key.process?key=PH3V4TXXV.

You can listen to the replay by telephone after the phone meeting is over until February 19, 2014. Telephone dial to listen to the phone call Replay number: U.S. toll-free +1.888.286.8010, international telephone +1.617.801.6888, password is 84129925.