Ctrip pass a secondary listing in Hong Kong in April


online travel market pick up competition

　　Guangzhou Daily (all-media reporter Ni Ming) recently reported that Ctrip had formally submitted an application for a secondary listing to the Hong Kong Stock Exchange before the Spring Festival, but Ctrip “does not comment” on this.

In the early 2020s of the past, many of Ctrip's businesses fell to a freezing point due to the impact of the epidemic.

With the recovery of the online travel market, Ctrip's performance turned losses into profits.

In the past year, Ctrip's stock rose by 0.57%. Since February this year, it has risen by about 30%. The latest market value is 23.7 billion U.S. dollars, a record high.

　　Since the second listing of Alibaba, JD.com, NetEase, Yum China, Zhongtong Express, Huazhu Group, Baozun E-commerce, etc. have completed the second listing on Hong Kong stocks.

Pinduoduo, Station B, and Baidu have also been repeatedly reported to be "two tops".

Among them, Baidu is also the largest shareholder of Ctrip.

　　Ctrip was born in 1999 and has become the largest domestic travel group.

The financial report shows that Ctrip's performance in 2019 reached its peak, with revenue reaching 35.7 billion yuan. Ctrip in 2020 can be described as a trough.

When the global tourism industry was hit hard, Ctrip was not immune.

In the first quarter of 2020, Ctrip had a net loss of 5.338 billion yuan and a net loss of 472 million yuan in the second quarter.

In the third quarter, Ctrip finally ushered in profitability, achieving a net profit of 1.581 billion yuan.

　　For the performance of the fourth quarter of 2020, Ctrip expects that its net income will drop by approximately 37% to 42% year-on-year.

Financial data shows that in the fourth quarter of 2019, Ctrip's revenue was 8.335 billion yuan.

Based on this calculation, Ctrip will have at least 18.1 billion yuan in revenue in 2020.

However, this value is only about half of the total revenue of 35.7 billion yuan in 2019.

　　Regarding the recovery of Ctrip's performance, Chen Liteng, a life service e-commerce analyst at the E-commerce Research Center of Net Economics, said that thanks to the effective control of the epidemic and the recovery of cross-provincial travel, Ctrip Group's domestic main business revenue increased by more than two quarters. number.

The recovery of Ctrip's performance largely depends on the epidemic situation.

At present, the epidemic situation abroad is still severe, and some regions in China have rebounded, all of which have brought uncertainty to the recovery of platform performance.

　　In the past 2020, the performance of many OTAs, including Ctrip, dropped to a freezing point.

However, with the recovery of the tourism market in the second half of the year, OTA competition intensified.

Under the epidemic, the online rate of hotels has further increased, and the hotel industry is also undergoing a reshuffle. Several leading hotel groups such as Jinjiang, BTG, and Huazhu have expanded against the trend.

The hotel business, as an important income of the OTA platform, has also become a position for giants to vie for layout.

　　On January 5, OTA companies and Cheng Yilong announced that they had signed a strategic investment agreement with Perrin Hotel Group.

Another giant Meituan has also begun to invest in hotels.

According to Jiemian News, Meituan will invest in Dongcheng International Group in the near future with a 20% stake.

　　Meituan’s latest financial report shows that in the third quarter of 2020, Meituan’s in-store, hotel and travel business revenue reached 6.5 billion yuan, an increase of 4.8% year-on-year.

It is worth noting that the operating profit rate of this part of the business is 43.0%, which is much higher than the takeaway and emerging businesses.

　　In addition, Ali is also stepping up its deployment in the online travel market.

As early as September 8 last year, Ali's Flying Pig Travel launched the industry's first "10 billion subsidy" project.

At the end of September, Ali became its third largest shareholder with a stake of 385 million yuan in Zhongxin Travel, with a shareholding ratio of 5%.

The two parties will jointly explore and promote the "new offline travel retail" business model.