Ctrip Group - S stock rose over 5% in early trading, Q4 business slightly exceeded expectations, and the proportion of international business for the full year has increased to 40%.

Ctrip Group - S(09961) rose more than 5% in early trading, as of the time of writing, up 5.54%, trading at 411.6 HKD, with a turnover of 645 million HKD.

In terms of news, Ctrip Group released its full-year 2025 performance, with net operating revenue of 62.4 billion RMB, up 17% year-on-year; net profit attributable to the parent company was 33.29B RMB, up 95.08% year-on-year. Guotou Securities issued a research report stating that Ctrip’s Q4 performance slightly exceeded expectations, with revenue surpassing the bank/market expectations by 5%/4%, and adjusted net profit exceeding expectations by 5%/8%. The contribution of international business to total revenue is expected to increase to 40% in 2025, with management emphasizing international business and AI investments.

According to information from the earnings conference, during the Spring Festival holiday, domestic travel bookings on the Ctrip platform grew by double digits year-on-year, with a slight increase in ADR; outbound travel also grew by double digits. As of the first quarter, international OTA platform bookings increased by 60% year-on-year. The future strategic focus is on enhancing brand influence and increasing localized product offerings. The bank expects total revenue in the first quarter to grow by 15% year-on-year, with accommodation bookings and transportation bookings increasing by 16% and 10%, respectively.