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On August 27, Ctrip Group (NASDAQ: TCOM; HKEX: 9961) announced its unaudited financial results for the second quarter of 2024. In the second quarter, Ctrip achieved steady growth on the basis of a historically high base, with net income of RMB 12.8 billion. In the earnings conference that day, Ctrip will apply AI Agent for the first time in the industry, demonstrating the company's firm commitment to innovation and the use of new technologies to promote changes in the tourism industry, and introduce the specific results of AI implementation - two content products.

"We achieved sustained growth in the second quarter of 2024, driven by strong growth in travel demand, especially cross-border travel demand," said Liang Jianzhang, co-founder and chairman of Ctrip Group. "This strong performance demonstrates our adaptability in a dynamic market. Looking ahead, we will go all out to use artificial intelligence to innovate the travel industry and create excellent value experiences for our customers."

In the second quarter, Ctrip's various businesses continued to grow, including hotel booking business revenue of RMB 5.1 billion, transportation ticketing business revenue of RMB 4.9 billion, travel and vacation business revenue of RMB 1 billion, and business travel business revenue of RMB 630 million. At the same time, product research and development expenses were RMB 3 billion, accounting for about 23% of net income.

In the second quarter, cross-border travel was a major growth point in the tourism market, driving the rapid growth of Ctrip's outbound, inbound and overseas platform businesses. In terms of outbound travel, in the second quarter, Ctrip's outbound hotel and air ticket bookings have fully recovered to the same period in 2019. In terms of inbound travel, Ctrip has innovated products in the fields of payment, scenic spot tickets, accommodation, group tours, etc., and has linked up with destinations to carry out overseas marketing, etc., to tell the story of Chinese tourism well and serve foreign tourists visiting China well.

In view of the high growth potential of the tourism industry, such as the elderly and young people, Ctrip has also linked up with partners to provide differentiated services for the above groups and explore new growth points. The "Ctrip Old Friends Club" brand has cooperated with more than 1,600 hotels in more than 40 popular destinations across the country, providing more than 4,000 hotel + package products, with exclusive products and services to meet the tourism needs of the elderly. At the same time, Ctrip has innovated the development of new tourism products such as "performance + travel", covering concerts, music festivals, exhibitions, events, film festivals and other scenes, and won the favor of young users with services such as tickets + hotels and tickets + transportation.

Ctrip continues to invest in AI and ESG to enhance its sustainable development capabilities, optimizes products and services with AI technology, and unleashes creativity in inspiring user inspiration, travel strategies, itinerary planning, after-sales service, etc. At the same time, Ctrip continues to promote established ESG strategies such as family-friendly, environmental-friendly, community-friendly, and eco-chain-friendly. Its industry-leading ESG compliance practices have enabled Ctrip's MSCI rating to jump two levels from "BB" to "A".

"We are pleased to see the strong growth in our travel business, and China's travel consumption demand remains strong," said Jane Sun, CEO of Ctrip Group. "The optimistic market outlook has inspired our enthusiasm for continued innovation and implementation of new plans. By working closely with our partners, we are confident that we will achieve even greater success in the future."