$TRIP.COM-S(09961)$
First of all, from the financial data, Ctrip Group's performance in the second quarter of 2024 was very impressive. Net income achieved a year-on-year growth of 14%, reaching 12.8 billion yuan, and net profit increased to 3.9 billion yuan, a significant increase compared with 648 million yuan in the same period last year. This shows that Ctrip has seized the opportunity in the recovery of the tourism market and effectively improved its business scale and profitability.
Secondly, from the perspective of business structure, Ctrip's diversified development strategy has been effectively verified. Hotel reservation business, transportation ticketing business, tourism and vacation business, and business travel business have all achieved stable growth, especially hotel reservation and transportation ticketing business, as Ctrip's two core sectors, their revenue contribution is still significant. This reflects Ctrip's richness and market competitiveness in tourism product supply.
Thirdly, the strong growth of cross-border travel has become a highlight of Ctrip's performance. With the gradual opening of the global tourism market and the increasing willingness of consumers to travel abroad, Ctrip's outbound travel business has fully recovered to the same level as the same period in 2019, which is of great significance to improving Ctrip's overall performance and international market competitiveness.
In addition, Ctrip's investment in product research and development is also worth paying attention to. Although the R&D expenses are high, accounting for about 23% of net income, this reflects Ctrip's emphasis on technological innovation and user experience improvement. In the long run, this will help Ctrip maintain its market leadership and open up new growth points.
In the long run, Ctrip's performance is remarkable, giving the capital market more room for imagination. We should be optimistic and pay attention to its continued development in the future.
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