Ctrip.Com International Ltd (NASDAQ:CTRP) Q2 2019 Earnings Conference Call Transcript

Sep 09, 2019 • 08:00 pm ET

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Ctrip.Com International Ltd (NASDAQ:CTRP) Q2 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Thank you for standing by, and welcome to the Second Quarter 2019 Ctrip.com International Limited Earnings Conference Call. All participants are in a listen-only mode. There will be a presentation, followed by a question-and-answer session. [Operator Instructions]

I would now like to hand the conference over to Michelle Qi, Senior IR Director. Please go ahead.

Executive
Michelle Qi

Thank you, Jennifer. Thank you, everyone, for joining us call this morning. Good morning and welcome to Ctrip's 2019 Q2 earnings conference call. Joining me today on the call are Mr. James Liang, Executive Chairman of the Board; Ms. Jane Sun, Chief Executive Officer; and Ms. Cindy Wang, Chief Financial Officer.

During this call, we will discuss our future outlook and performance, which are forward-looking statements made under the safe harbor provision of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, our results may be materially different from the views expressed today. A number of potential risks and uncertainties are outlined in Ctrip's public filings with the Securities and Exchange Commission. Ctrip does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

James, Jane and Cindy will share our strategy and business updates, operating highlights and financial performance for the second quarter of 2019, as well as outlook for the third quarter of 2019. After the prepared remarks, we will have a Q&A session.

With that, I will turn the call over to James. James, please.

Executive
James Jianzhang Liang

Thank you, Michelle. Thank you, everyone, for joining us on the call today. Now, let's begin with a quick update on our business growth and performance. We're pleased to report solid results for the second quarter of 2019. Net revenue grew 19% year-over-year, reaching RMB8.7 billion. We have increased our share in the domestic travel market with GMV growth rate for both domestic hotels and the air ticketing are accelerating, even against the backdrop of the softer market environment.

Our international businesses also seeing great performance, with a growth rate for international hotels and the air ticket more than doubling that of China outbound traffic growth in the same period. As we continue to evolve as an industry leader in China, we have great opportunities ahead to realize our global vision. Ctrip has develop key competencies to provide excellent services to travelers in China and around the world, including a one stop platform that covers more than 60 products globally. Such one stop product offerings empower our mobile platforms with our superior mobile app accounting, well, of over 80% of the future [Indecipherable]. Furthermore, we are continuously making investments in technology, including the open platform and ensure the competitiveness of each product and collaboration between power limes. Nowadays, open platform connects several hundred thousand direct and intermediates suppliers, ranging from individual professionals to worldwide travel leaders.

Today we also announced the proposal to change the company name to Trip.com Group Limited. The new name reflects the services and products we provide and it can