Benefit news， November 23rd, US time, China's leading accommodation booking、Transportation Ticketing、Ctrip, a travel vacation and business travel management services company (Nasdaq: CTRP，Hereinafter referred to as "Ctrip" or the "Company") announced its financial results for the third quarter ended September 30, 2016。

Unexpected，Ctrip once again becomes the most profitable company in the online travel industry - excluding equity compensation expenses，Net profit attributable to Ctrip shareholders in the third quarter of 2016 was 5.8.1 billion yuan，10 times the net profit of RMB 57 million in the previous quarter。

Something unexpected is，Ctrip’s performance not only exceeded Wall Street expectations again，Qunar.com, a company invested by Ctrip, also achieved profitability，Become the second profitable online travel company in the industry。

“We are pleased with the strong revenue growth and significant margin improvement in the third quarter of 2016，”Co-founder of Ctrip、Executive Board Chairman Liang Jianzhang said，“The excellent performance 188bet online sports betting reflects the solid execution of our team and the synergies between Ctrip and the companies we invest in。As long as we continue to focus on executing our strategies and continuing to innovate，We will continue to grow for a long time to come。”

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Ctrip’s “Second Entrepreneurship”，Past years，Always in the tourism-related industry chain，Based on brand、Technology and services build their own industry “moat”。On this basis，Ctrip has been recognized by many consumers。Currently，Ctrip has 2.500 million members，The cumulative number of App downloads exceeds 2.3 billion。

Because of this，Plus the continued improvement of operational efficiency，Ctrip’s main businesses continued to improve significantly in the third quarter of this year。

Data display，The third quarter of 2016，Ctrip’s net revenue is 5.6 billion yuan，75% year-on-year growth。Excluding share-based compensation expenses，Operating profit in the third quarter of 2016 was 1 billion yuan，Doubled year-on-year，Increased 5 times month-on-month。

The good news is，This quarter，Ctrip’s operating profit margin is 8%，Significant growth compared to the previous quarter。Excluding share-based compensation expenses，Ctrip’s operating profit margin is 18%，Reached highest level since 2014，Significantly exceeded Wall Street’s expectations of 13%-14%。

Flights, wine and vacations continue to lead

Among them，Big accommodation revenue is 2.1 billion yuan，A year-on-year increase of 51%。Since its base is already far ahead of the market，The performance of Ctrip Lodging undoubtedly 188bet online sports betting attracts great attention。

Ctrip previously stated，Hotel business in progress、Price、Competitiveness in services continues to strengthen，In addition, outbound tourism continues to become an important driving force for hotel business growth，"On this basis，Ctrip’s coverage of domestic hotels and overseas hotels continues to increase，Products and price competitiveness are far ahead”。

Also，On the road to building an industry ecosystem，Ctrip’s hotel department has recently cooperated with a number of independent hotels、Hotel groups at home and abroad、Chain hotel groups and others signed a general distribution agreement，This will continue to bring "dividends" to consumers and the industry。

More than that。Ctrip’s transportation and tourism vacation businesses continue to remain dynamic。

The third quarter of 2016，Transportation ticketing operating income is 2.4 billion yuan (364 million US dollars)，101% year-on-year increase。

In fact，In order to ensure consumers’ convenience in transportation，Ctrip is improving its “machine + X” products，Also continues to solve consumers’ “pain points” through micro-innovation。

For example，Valet parking service at the airport，Solves consumers’ “pain points”。Ctrip revealed，Valet parking service has covered 29 major cities across the country、30 airports，And has more than 50,000 user experiences。

And in the past few years，The tourism business has also gained consumer recognition through many innovations such as “micro tour guide”。It is reported，The third quarter of 2016，The volume 188bet sports betting app download of group travel and independent travel has been growing rapidly。

Data display，The operating income of tourism and vacation business in the third quarter of 2016 was 8.1.3 billion yuan。

Building an international tourism ecosystem

Future，Ctrip’s performance will still be worth the expectations of market participants and investors。On the one hand，Ctrip’s operational efficiency is constantly improving。For example，Excluding share-based compensation expenses，Sales and marketing expenses for the third quarter of 2016、The proportion of administrative expenses and other expenses in net turnover continues to decrease compared with the previous quarter。

On the other hand，What’s more important，Ctrip has opened up a broader space and potential performance growth - "International expansion"，And will continue to participate in the competition with the international tourism market。

Liang Jianzhang previously stated at the Ctrip Hotel Summit，Ctrip will do more international expansion，“I hope that not only Chinese tourists will travel abroad in large numbers in the future，At the same time, we also hope that more foreign tourists will come to China”。
“The products of international tourist destinations must be in-depth，Especially in the Asian market，Currently, Ctrip’s international business is developing quite well，In the future, he hopes to serve Chinese customers well，Can also serve overseas customers，Get more overseas customers。"Liang Jianzhang said。

In fact，On international expansion，Ctrip is already laying out its own ecosystem。Recent，Ctrip and the three leading travel agencies in the United States-Tufeng、188bet app download Haiou and Zongheng Group reached strategic investment and cooperation，Comprehensive layout of the North American tourism market。Also，Ctrip has truly penetrated into the huge potential Indian online travel market，Became one of the important shareholders of MakeMyTrip after merging with Ibibo Group。

Because of this，International investment banks continue to value Ctrip’s development potential。Previously，Goldman Sachs、Deutsche Bank、Morgan Stanley and Tianhao Capital, etc.，All rated Ctrip as “buy” or “recommended”。

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