TCOM241220P70000
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Trip.com Newsroom
US stocks closed | The three major indices rose together, the Dow and S&P continued to hit historical highs; most large technology stocks rose, nvidia rose more than 2%, Tesla soared more than 38% in the month, the best performance in nearly two years
US stocks posted weekly gains of over 1%, with the Dow rising by 7.5% in November and the S&P up 5.7%, both achieving the best performance of the year. The Nasdaq accumulated an increase of over 6%, small-cap indices rose by nearly 11%, the chip index rose by 1.5% on Friday but declined monthly, and Tesla saw a monthly increase of over 38%, its best performance in nearly two years.
Ctrip data: Search heat in Hong Kong and Macau increased by over 30% within half an hour after the policy of "One ID, Multiple Visits" was announced.
Starting from December 1, the central government will resume the 'one visa for multiple entries' individual travel visa for residents of Shenzhen, and implement new arrangements to expand the 'one visa for multiple entries' individual travel visa to non-resident holders of residence permits in Shenzhen. Data from Trip.com shows that within half an hour after the policy announcement, the search popularity for Hong Kong and Macau destinations on the Trip.com platform increased by over 30%. Data indicates that the Hong Kong and Macau regions rank among the top 10 popular outbound travel destinations for mainland residents this year. Since the beginning of this year, orders for mainland residents traveling to Hong Kong and Macau have increased by over 11% year-on-year.
Research reports on digging gold | gtja: Raise the target price of Trip.com to 592 HKD and revise the adjusted earnings forecast for 2024 to 2026.
Gelonghui, November 29 | gtja published a research report stating that Ctrip's Q3 performance exceeded expectations, with stable revenue growth under a high base and ideal expense control. Considering the group's benefit from the improvement in the landscape and continuous enhancement of efficiency, the adjusted net income for 2024, 2025, and 2026 is raised to 17.946 billion, 20.799 billion, and 24.445 billion yuan respectively, maintaining a target market cap of 374.4 billion HKD and raising the target price to 592 HKD. gtja indicated that Ctrip's Q3 revenue met expectations, with growth in hotel, transportation, and business revenue all at the upper limit of guidance. Considering the high base from the same period last year, the transportation during the period...
"Great Wall" gtja raises Ctrip (09961.HK) target price to 592 yuan, third-quarter performance exceeds expectations.
gtja's research report states that Ctrip (09961.HK) exceeded expectations in the third quarter with stable revenue growth despite a high base, ideal cost control, considering the group will benefit from improved structure and continuous efficiency enhancement, adjusting its adjusted net profit for 2024 to 2026 to 17.946 billion, 20.799 billion, and 24.445 billion yuan respectively, maintaining a target market cap of 374.4 billion yuan, and raising the target price to 592 Hong Kong dollars. gtja mentioned that Ctrip's third-quarter revenue met expectations, with revenue growth in hotels, transportation, and business reaching the upper limits of guidance, while revenue growth in package tours business was lower.
[Brokerage Focus] Bocom Intl: Bullish on the easing competition and steady performance of OTA/local life in 2025.
Bocom Intl released the 2025 outlook for the internet industry, with new policies progressing one after another, the stimulating effect on online and offline consumption may be reflected the fastest. Bullish on internet trading platforms, relatively essential and rapidly stimulating consumer categories, as well as the software industry benefiting from AI empowerment and recovery in semiconductor innovation. It is recommended to focus on core business steady growth, improvement in profitability, and valuation repair opportunities brought by high shareholder returns. The bank is optimistic about the competition easing and sustained performance stability in OTA/local lifestyle, with significant valuation repair opportunities in e-commerce > education > gaming > software. OTA: Mainland hotel ADR pressure easing, outbound business.
Ctrip Group - S (9961.HK): Strong demand, optimized structure, improved profitability and returns.
Report introduction: Performance exceeded expectations, with stable revenue growth and excellent cost control despite a high base, indicating that demand remains strong and profitability as well as shareholder returns have significantly improved following the enhancement of the industry landscape. Investment highlights: Maintain "shareholding" rating. Considering the company's benefits.
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US stocks closed | The three major indices rose together, with Dow Jones and S&P hitting new highs; tariff threats dragged down auto stocks, general motors fell 9%
Waiting for PCE inflation, the Fed's November minutes support gradual rate cuts, temporarily suppressing US bond yields and the dollar while gold rallies. The Dow turns higher at the end of the day, hitting new highs for three consecutive days, while small cap stocks fall from the highest level in six days, with chip stocks down more than 1%, but nvidia rebounds by 0.7%. Tesla reverses its decline, Nio falls by 7.7%, Amgen's weight loss drug once fell by more than 12%, and Dell falls more than 9% after hours.
Trip.com Partners Launches Exclusive B.Duck Family Rooms With Dao by Dorsett AMTD Singapore and PARKROYAL on Beach Road
Hong Kong Market Wrap: Hong Kong stocks fell slightly, with the Hang Seng Index down 0.41%; biotechnology stocks rose, with Akeso up more than 6%; AI application concept stocks continued to surge, Mobvista rose over 10%.
Network technology stocks generally fell, Kuaishou-W up 4.51%, JD.com Group-SW down 3.05%; Apple supplier stocks rose, AAC Tech up 6.86%, Q Tech up 4.75%; Digital health stocks mostly declined, Za Online down 3.63%, Maitaiweikang down 2.63%.
[Brokerage Focus] Soochow brokerage maintains a "buy" rating on Ctrip Group (09961), bullish on the company's overseas business growth.
Jingu Financial News | Soochow Securities issued research reports, stating that Ctrip Group (09961) achieved net income of 15.9 billion yuan in 24Q3, a year-on-year increase of 16%; adjusted EBITDA was 5.7 billion yuan, with adjusted EBITDA margin of 36%, a year-on-year increase of 2 percentage points; adjusted net income attributable to the parent company was 6 billion yuan, a year-on-year increase of 22%, both revenue and profit of the company exceeded Bloomberg's expectations. The bank stated that domestic hotel ADR has begun to stabilize, and outbound travel growth continues to lead the csi leading industry index. 1) In Q3, domestic hotel ADR has begun to stabilize, with the year-on-year decline narrowing from double digits to mid-single digits, mainly affected by hotel
Starting Saturday, the mainland will implement visa-free trials for Bulgaria, Romania, and japan.
The spokesperson of the national foreign ministry, Lin Jian, stated that to further facilitate exchanges between Chinese and foreign personnel, China has decided to expand the range of visa-exempt countries. From Saturday (the 30th) until December 31, 2025, a visa exemption policy will be implemented for individuals holding regular passports from Bulgaria, Romania, Croatia, black hills corp, North Macedonia, Malta, Estonia, Latvia, and japan. China has also decided to further optimize the visa exemption policy by including exchange visits as a reason for visa-free entry and extending the visa-free stay period from the current 15 days to 30 days.
Hong Kong stocks movement | Ctrip Group-S (09961) rose nearly 3% Q3 adjusted EBITDA better than market expectations, international hotel revenue will maintain strong momentum.
Ctrip Group-S (09961) rose nearly 3%, as of the deadline for submission, rose 2.49%, reported 514 Hong Kong dollars, with a turnover of 0.284 billion Hong Kong dollars.
Ctrip Group-S (9961.HK): Outbound and international business maintains high growth, overall profit performance is impressive.
Event: On November 19, 2024, the company announced the financial report for Q3 2024, achieving a total net revenue of 15.9 billion yuan (+16% YoY), and a net income attributable to the parent company of 6.8 billion yuan (+47% YoY), Non-
Analysts Offer Insights on Consumer Cyclical Companies: TJX Companies (TJX) and Trip.com Group Ltd. Sponsored ADR (TCOM)
Barclays Maintains Trip.com(TCOM.US) With Buy Rating, Maintains Target Price $84
BofA Securities Maintains Trip.com(TCOM.US) With Buy Rating, Raises Target Price to $77
[Brokerage Focus] Guosen Securities maintains an "Outperform Market" rating on Trip.com Group (09961), pointing out that international flight and hotel services remain an important growth driver.
Jingu News | Guosen Securities released research reports stating that Ctrip Group (09961) recorded third-quarter revenue of 15.87 billion yuan, up 15.5% YoY, exceeding market expectations (+13.9% YoY); Non-GAAP net income attributable to parent company was 5.96 billion yuan, up 21.8%, with adjusted EBITDA at 5.68 billion yuan, up 22.9%, outperforming market expectations (-2.5% and +14.4%, respectively). The revenue growth rate during the peak season for travel continued to improve on a high base, highlighting the platform's leading advantages; Q3 adjusted EBITDA margin increased by 2.1% YoY, surpassing market expectations.
Open Source Securities: The expansion of domestic demand policies optimizes and boosts confidence. OTA platforms are expected to accelerate their fundamentals in Q4 on a quarter-on-quarter basis.
In the new round of expansion cycle of the underlying supply, the destination service system, transportation network infrastructure, and online booking/traffic channels are constructing a new supply system in various upstream and downstream links to meet the diverse consumer tourism needs.