Blue Whale News, November 20th (Reporter Huang Yujie and Zhang Shuwei) Recently, the online travel platform Ctrip Group (Ctrip, Nasdaq: TCOM; Ctrip Group-S, 09961. HK) disclosed its unaudited financial performance for the third quarter of 2024.
Financial data shows that Ctrip's operating revenue in the third quarter was approximately 15.9 billion yuan (RMB), a year-on-year increase of 16% and a month on month increase of 24%. In terms of revenue composition, Ctrip's revenue from accommodation bookings in the third quarter was approximately 6.8 billion yuan, a year-on-year increase of 22%; Revenue from transportation ticketing was approximately 5.7 billion yuan, a year-on-year increase of 5%; The operating revenue from tourism and vacation business is about 1.6 billion yuan, a year-on-year increase of 17%; The operating revenue from business travel management was approximately RMB 656 million, a year-on-year increase of 11%.
In addition, it is worth noting that as of September 30, 2024, Ctrip achieved other business revenue of 1.234 billion yuan, a year-on-year increase of 40.87%.
According to the annual report, Ctrip's financial business revenue and online advertising revenue are included together in "other income". Among them, financial services mainly cover consumer finance, supply chain finance, and various other digital financial solutions. Financial service revenue mainly comes from platform service fees from third-party financial institutions recognized on a ratio basis during the service period, as well as interest on user accounts receivable during the credit period.
It is reported that from 2020 to 2023, Ctrip's other revenues were 1.9 billion yuan, 2.5 billion yuan, 2.5 billion yuan, and 3.5 billion yuan, accounting for 10%, 12%, 13%, and 7.9% of the company's total revenue, respectively.
It is reported that Ctrip Finance was established in 2017 and is a financial technology service platform under Ctrip Group. With its advantages in OTA scene platform and technology, it provides users with comprehensive financial services, including credit, consumption installment, wealth, credit card, business person loan and other services.
Among them, Ctrip Financial's credit business is mainly carried out by Chongqing Ctrip Small Loan Co., Ltd. (hereinafter referred to as "Ctrip Small Loan"). Public information shows that Ctrip Xiaodai was established in December 2016 with a registered capital of 5 billion yuan. Relying on its online small loan license, Ctrip has launched self operated credit loans, small and micro loans, guided loans, co branded credit cards, and consumer installment payments on its Ctrip Travel App, Qunar App, and Ctrip Finance App.
Specifically, Ctrip's self operated lending business is called "Credit Loan", with a maximum limit of 200000 yuan and an annualized interest rate of 7.2% -24%. The cooperative institutions include more than 30 financial institutions such as Shangcheng Consumer Finance, Nanjing Bank, Bohai Bank, and Huarui Bank.
In the first three quarters of 2024, Ctrip Xiaodai achieved operating revenue of 317 million yuan, operating profit of 60.3533 million yuan, and net profit of 52.026 million yuan. Compared with the net profit of 3.3236 million yuan for the whole year of 2023, Ctrip Xiaodai achieved a net profit of more than 15 times that of the whole year of last year in the first three quarters of 2024. As of the end of September 2024, Ctrip's total assets reached 6.817 billion yuan, total liabilities were 1.816 billion yuan, and net assets were 5.001 billion yuan.
In addition, from the perspective of Ctrip's financial business layout, according to incomplete statistics from Blue Whale News, Ctrip currently has at least 7 financial licenses, including online small loan license (Ctrip Small Loan), payment license (Shanghai Chengfutong Payment Co., Ltd.), consumer finance (Shanghai Shangcheng Consumer Finance Co., Ltd.), commercial factoring (Tianjin Quyou Commercial Factoring Co., Ltd.), financing guarantee license (Tianjin Ctrip Financing Guarantee Co., Ltd.), insurance agency (Ctrip Insurance Agency Co., Ltd.), and fund sales (Shanghai Ctrip Fund Sales Co., Ltd.).