攜程在線票務(wù)服務(wù)公司Trip.com Group市場前景及投資研究報告-外文版培訓(xùn)課件

COMPANIES

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PRODUCTSTGroupCHAPTER

01IndustryoverviewMarketcapofleadingonlinetravelcompaniesworldwideasofSeptember2023(inmillionU.S.dollars)Marketcapofleadingonlinetravelcompaniesworldwide2023MarketcapinmillionU.S.dollars40,000

60,000020,00080,000100,000120,000BookingHoldings(UnitedStates)Airbnb(UnitedStates)112,79391,086TGroup(China)23,203ExpediaGroup(UnitedStates)TongchengTravelHoldings(China)MakeMyTrip(India)15,3275,0634,089Tripadvisor(UnitedStates)Webjet(Australia)2,2051,680852eDreamsOdigeo(Spain)Despegar(Argentina)498383295246Trivago(Germany)LGroup(Netherlands)OntheBeachGroup(UnitedKingdom)3Description:AsofSeptember2023,BookingHoldingswastheonlinetravelcompanywiththehighestmarketcapworldwide.Asofthatmonth,BookingHoldings-theleadingonlinetravelagency(OTA)worldwidebyrevenue-recordedamarketcapofroughly112.8billionU.S.dollars.AirbnbandtheTGroupfollowedintheranking,withamarketcapofaround91.1and23.2billionU.S.dollars,respectively.ReadmoreNote(s):Worldwide;asofSeptember18,2023Source(s):SkiftMostvisitedtravelandtourismwebsitesworldwideasofApril2024(inmillionvisits)Mostpopulartravelandtourismwebsitesworldwide2024Numberofwebsitevisitsinmillions200

3000100400500600556.1175.610190.289.567.76761.457.855.65452.851.750.750navitime.co.jp4Description:InApril2024,wasthemostvisitedtravelandtourismwebsiteworldwide.Thatmonth,Booking’swebpagerecordedroughly556millionvisits.Tandfollowedintheranking,witharound176millionand101millionvisits,respectively.ReadmoreNote(s):Worldwide;April2024Source(s):SimilarWebNumberofaggregateddownloadsofselectedleadingonlinetravelagencyappsworldwidein2023(inmillions)Numberofaggregateddownloadsofleadingonlinetravelagencyappsworldwide2023908070605040302010076.4559.3227.321.9521.2918.8217.0413.33Vrbo12.8810.417.05BAirbnbAgodaExpediaTHopperMakeMyTriptrivagoH

Tripadvisor5Description:TheBmobileappreportedthehighestnumberofdownloadsworldwideamongtheselectedonlinetravelagencyappsin2023.Thatyear,thisapprecordedaround76.5millionaggregateddownloadsoniOSandGooglePlay.TheAirbnbappwasthesecondmostdownloadedappintheranking,withroughly59milliondownloads.ReadmoreNote(s):Worldwide;2023;aggregatednumberofdownloadsoniOSandGooglePlaySource(s):AppMagicLeadinglifeservicebrandsbasedonbrandvalueinChinain2023(inbillionyuan)MostvaluablelifeservicebrandsinChina2023Marketvalueinbillionyuan1000WeChat50150200250225Meituan120TDidiChuxingQQ20.5191612.5119.5ElemeBeikeZhaofangBossGuazi858.com6.56Description:In2023,WeChat,aninstantmessagingandsocialmediaapp,wasthemostvaluableChinesebrandamongthosegroupedas"lifeservice"brands.WeChatremainedinthetopspotwithbrandvalueof225billionyuanin2023.

ReadmoreNote(s):China;2023Source(s):HurunResearchInstituteNumberofonlinetravelbookingusersinChinafrom2015to2023(inmillions)NumberofonlinetravelbookingusersinChina2015-2023600500509.01453.63422.72418.15410.01397.14003002001000375.78372.96366.55342.44299.22259.55Dec.2015

Dec.2016

Dec.2017

Dec.2018Jun.2019Mar.2020

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Dec.2022Jun.2023Dec.20237Description:ByDecember2023,around509millioninternetusersinChinausedonlinetravelbookingservices,accountingforaround46.6percentoftheChineseinternetuserbase.Twasthelargestonlineholidaybookingplatforminthecountry.

ReadmoreNote(s):China;2015to2023Source(s):CNNICPenetrationrateofonlinetravelbookinginChinafrom2015to2023PenetrationrateofonlinetravelbookinginChina2015-202360%49.5%48.7%48.9%50%40%30%20%10%0%46.6%42.1%41.3%40.9%39.6%38.5%37.7%34.6%Dec.2015Dec.2016Dec.2017Dec.2018Jun.2019Mar.2020Dec.2020Dec.2021Dec.2022Jun.2023Dec.20238Description:ByDecember2023,thepenetrationrateofonlinetravelbookingreached46.6percentwith509millioninternetusershavingusedtheservices.Twasthelargestonlineholidaybookingplatforminthecountry.

ReadmoreNote(s):China;2015to2023Source(s):CNNICCHAPTER

02CompanyfinancialfiguresNetrevenueofTGroupLtd.inChinafrom2013to2023(inbillionyuan)RevenueofTGroup2013-2023504540353025201544.5135.6730.9726.820.0220.0419.2518.32202010.91057.355.390201320142015201620172018201920212022202310Description:In2023,ChineseonlinetravelcompanyTGroupLimited,previouslyknownasCInternational,generatedanetrevenueofapproximately44.5billionyuan,morethandoubletheamountofthepreviousyear.

ReadmoreNote(s):China;2013to2023Source(s):TNetrevenueofTGroupLtd.from1stquarter2020to1stquarter2024(inbillionyuan)QuarterlyrevenueofTGroupQ12020-Q1202416141210813.711.911.210.39.26.95.95.564205.3554.74.74.14.143.2Q12020

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Q1202411Description:Inthefirstquarterof2024,theChineseonlinetravelagencyTGroupLtd.,previouslyknownasCInternational,generatedanetrevenueofapproximately11.9billionyuan.Thenetrevenueincreasedcomparedtothepreviousquarterprimarilyduetoseasonality.ReadmoreNote(s):China;Q12020toQ12024Source(s):TRevenueofTGroupLtd.from2017to2023,byregion(inmillionyuan)RevenueofT2017-2023,byregionGreaterChinaOtherregions50,00045,00040,00035,0005,8944,46030,0002,3153,04025,00020,00015,00010,0005,00001,60638,66820233,7291,30831,25628,06424,67818,42317,01916,32620172018201920202021202212Description:In2023,thetotalrevenueoftheChineseonlinetravelagencyTamountedtoapproximately44.5billionyuan.Ofthisamount,around38.7billionyuanweregeneratedintheGreaterChinaregion.ReadmoreNote(s):China;2017to2023Source(s):TRevenueofTGroupLtd.from2013to2023,byproduct(inmillionyuan)RevenueofT2013-2023,byproductAccommodationreservationTransportationticketingPackagedtoursCorporatetravelOthers*50,00045,00040,00035,00030,00025,00020,00015,00010,0005,00002013201420152016201720182019202020212022202313/statistics/233730/revenue-of-ctripcom-international-by-productIn2023,travelserviceconglomerateT,previouslyknownasCInternational,generatedarevenueofabout2.25billionyuanfrombusinesstripservices.Majorityofrevenue,however,camefromtransportationticketingservicesthatyear.ReadmoreNote(s):China;2013to2023;*Includesinternetads,planeticketdelivery,salesofinsurance,travelbooks,andVIPmembershipcards.Ctripofficiallychangeditsnamefrom“CInternational,Ltd.”to“TGroupLtd.”inOctober2019.[...]

ReadmoreSource(s):TNetprofitofTGroupLtd.from2013to2023(inmillionyuan)NetincomeofT2013-202312,00010,0008,00010,0026,9986,0004,0002,00002,3992,1741,36720221,096201890691-645-2,000-4,000-1,6242016-3,2692020201320142015201720192021202314Description:In2023,thenetincomeoftheChineseonlinetravelagencyTamountedtoapproximately10billionyuan.DuringthefirstyearoftheCOVID-19pandemicin2020,annualnetrevenuesofthecompanydeclinedbynearly50percentcomparedtothepreviousyear.ReadmoreNote(s):China;2013to2023Source(s):TNetincomeattributabletoshareholdersofTGroupLtd.from1stquarter2020to1stquarter2024(inbillionyuan)QuarterlynetincomeofTGroupQ12020-Q1202464.64.343.42.11.81.6201.310.630.270.04-0.48-0.65-0.85-0.83-1-2-4-6-5.4Q12020

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Q1202415Description:Inthefirstquarterof2024,theChineseonlinetravelagencyTGroupLtd.,previouslyknownasCInternational,generatedanetincomeattributabletothecompanyshareholdersofapproximately4.3billionyuan,almostabillionyuanmorethaninthesameperiodofthepreviousyear.ReadmoreNote(s):China;Q12020toQ12024Source(s):TTotalassetsofTGroupLtd.from2013to2023(inbillionyuan)TotalassetsofT2013-2023250219.14200.17191.86191.6920015010050187.25185.83162.24144.43118.8431.21201420.692013020152016201720182019202020212022202316Description:In2023,totalassetsoftheChineseonlinetravelagencyTamountedtoapproximately219billionyuan.Atthesametime,totalliabilitiesreached96billionyuan.ReadmoreNote(s):China;2013to2023Source(s):TTotalliabilitiesofTGroupLtd.from2013to2023(inbillionyuan)TotalliabilitiesofT2013-202312097.196.1310080604020093.3285.6881.478.6775.6368.955.1620.83201412.09201320152016201720182019202020212022202317Description:In2023,totalliabilitiesoftheChineseonlinetravelagencyTamountedtoapproximately96billionyuan.Atthesametime,totalassetsexceeded219billionyuan.ReadmoreNote(s):China;2013to2023Source(s):TNumberofemployeesatTGroupLtd.inChinafrom2013to2023NumberofemployeesatTGroup2013-202350,00045,10044,30045,00040,00035,00030,00025,00020,00015,00010,0005,00037,40037,00036,24933,73233,40032,20032,20231,00023,00002013201420152016201720182019202020212022202318Description:Bytheendof2023,ChineseonlinetravelcompanyTGroupLimited,previouslyknownasCtrip,hademployedabout36,250people.MostoftheemployeeswerebasedinShanghai,Beijing,Nantong,Guangzhou,andChengdu.

ReadmoreNote(s):China;2013to2023Source(s):TAdvertisingandpromotionexpensesofTGroupLtd.from2013to2023(inbillionyuan)AdspendingofT2013-20237654365.55.35.12.82.42.11.91.82101.20.542013201420152016201720182019202020212022202319Description:In2023,theadvertisingandpromotionexpenditureofTamountedtoapproximately5.3billionyuan,increasingfromaround2.1billionyuaninthepreviousyear.Overall,thespendingdemonstratedasteadygrowthuntil2018,asuddendeclineduringtheCOVID-19pandemic,andastrongrecoveryin2023.ReadmoreNote(s):China;2013to2023Source(s):TCHAPTER

03CompetitorsLeadingchannelsforoutboundtravelplanninginChinaasofJanuary2023ChannelsusedtoplaninternationaltripsfromChina2023Shareofrespondents0%10%20%30%40%50%60%70%OTAs(e.g.,T,Qunar)AirlineandhotelchannelsXiaohongshu57.9%37.4%36%Offlinechannels(e.g.,travelagents)HelpfromfriendsandfamilyUGCplatforms(e.g.,Mafengwo)Douyin29.7%27.7%25.2%24.3%22.2%DestinationtourismboardchannelsWeChat16.7%16.7%WeiboLivestreams6.6%21Description:AccordingtoasurveycarriedoutinChinainthebeginningofJanuary2023,nearly58percentofrespondentssaidtheyusedonlinetravelagencyserviceswhenplanningtheirtripsabroad.Airlineandhotelwebsiteswasthesecondmostpopularchoiceapprovedby37percentofrespondents.ReadmoreNote(s):China;January4to7,2023;1,058respondentsSource(s):DragonTrailInternationalNumberofmonthlyactiveusernumber(MAU)oftheleadingonlinetravelappsinChinaasofFebruary2024(inmillions)MonthlyactiveusersofleadingonlinetravelappsinChina2024Numberofmonthlyactiveusersinmillions01020304050607080T(Ctrip)Qunar69.1629.03Fliggy8.82MafengwoTuniu7.715.353.582.731.11TravelGoElongLvmamaTripAdvisorBaiduTravel0.90.5522Description:AsofFebruary2024,CtripledtheonlinetravelappsinChinawithover69millionmonthlyactiveusers.Qunar,acquiredbyCtripin2015,rankedsecondwithmorethan29millionmonthlyactiveusers.Meanwhile,Fliggy,launchedbyAlibabaGroupin2010,hadaround8.8millionmonthlyactiveusers.ReadmoreNote(s):China;asofFebruary2024Source(s):iiMediaResearchMostpopularonlinetravelagenciesamongconsumersinChinaasofJune2023LeadingonlinetravelagenciesusedinChina2023Shareofrespondents30%0%10%20%40%50%60%70%T65%FliggyQunar54%53%MeituanDianpingTuniu45%40%Airbnb26%eLong21%20%19%17%BLvmamaAgodaT(Skyscanner)LY.com8%6%Others

0%23Description:AccordingtoasurveybyRakutenInsightononlinetravelagenciesinChinaconductedinJune2023,65percentoftherespondentsusedT(formerCtrip)themostwhenitcametoplanningtheirtravels.AirbnbandBwereusedbyaconsiderablylowershareoftherespondents.ReadmoreNote(s):China;June12to30,2023;3,633respondents;16yearsandolder;onlyamongthosewhosaidtheyhadusedanonlinetravelagencybeforeSource(s):RakutenInsightMostpopularonlinetravelagenciesamongconsumersinHongKongasofJune2023LeadingonlinetravelagenciesusedinHongKong2023Shareofrespondents30%0%10%20%40%50%60%70%AgodaBExpedia64%54%53%Trivago41%SkyscannerTAirbnb31%31%30%TripadvisorOthers22%5%24Description:AccordingtoasurveybyRakutenInsightononlinetravelagenciesinHongKongconductedinJune2023,64percentoftherespondentsusedAgodathemostwhenitcametoplanningtheirtravels.BandExpediawerealsoamongthemostfrequentlyusedonlinetravelagencies.ReadmoreNote(s):HongKong;June12to30,2023;2,891respondents;16yearsandolder;onlyamongthosewhosaidtheyhadusedanonlinetravelagencybeforeSource(s):RakutenInsightCHAPTER

04OTAconsumersinChinaOnlinetravelagencyusageinChinaasofJune2023OnlinetravelagencyusageinChina2023Idonotknowwhatanonlinetravelagencyis15%Yes43%No42%26Description:AccordingtoasurveybyRakutenInsightononlinetravelagencies(OTA)conductedinJune2023,44percentofrespondentsinChinastatedthattheyhaveusedanonlinetravelagency.ThemostpopularonlinetravelagenciesinChinawereCtrip(T),Fliggy,andQunar.ReadmoreNote(s):China;June12to30,2023;8,286respondents;16yearsandolderSource(s):RakutenInsightLeadingpurposesforusingonlinetravelagenciesinChinaasofJune2023LeadingusesofonlinetravelagenciesinChina2023Shareofrespondents0%10%20%30%40%50%60%70%80%90%83%TobookaccommodationTopurchaseflight/train/bustickets79%Tobookothertravelservices(e.g.sightseeingtours,tourguides,admissiontickets,restaurantreservations,etc)53%TobookapackageholidayTorentacar32%29%Forresearchingmytrip(tocomparepricesetc)butIdidnotbookorpurchaseanythingthroughit18%Others

0%27Description:AccordingtoasurveybyRakutenInsightontheusageofonlinetravelagenciesinChinaconductedinJune2023,83percentoftherespondentsstatedbookingaccomodationastheirmainreasonforusinganonlinetravelagent.Mostoftherespondentsbookedtheiraccomodationseveralweeksbeforethetrip.ReadmoreNote(s):China;June12to30,2023;3,633respondents;16yearsandolder;onlyamongthosewhosaidtheyhadusedanonlinetravelagencybeforeSource(s):RakutenInsigh