On May 19, China's travel service provider, Trip.com filed unaudited financial results for the first quarter ending March 31, 2021, which is the company's first financial report after the secondary listing on the Hong Kong Stock Exchange.
Net revenue fell 13% year-on-year to CNY 4.1 billion.
The net profit attributable to the shareholders achieved CNY 1.8 billion, a month-on-month increase of 80%.
Accommodation reservation revenue for the first quarter of 2021 was CNY 1.6 billion, up 37% year-on-year but down 30% month-on-month.
Transportation ticketing revenue for the first quarter of 2021 was CNY 1.5 billion, a 37% decrease from the same period in 2020, and an 11% decrease from the previous quarter.
Packaged tour revenue was CNY 169 million, a year-on-year decrease of 68% and a month-on month-decrease of 35%.
The revenue from corporate travel was CNY 252 million, increased 101% on a year-on-year basis but decreased 18% on a month-on-month basis.
The gross margin was 75% for the first quarter of 2021, a slight increase from 74% year-on-year.
As of March 31, 2021, the balance of cash and cash equivalents was CNY 66.1 billion.
In terms of expenses, product development expenses climbed by 31% to CNY 2.2 billion; sales and marketing expenses decreased by 31% to CNY 952 million; general and administrative expenses dropped by 65% year-on-year to CNY 684 million