(Yicai) Feb. 22 — Journey.com Group’s shares jumped to a file excessive after China’s largest on-line journey company stated internet revenue surged 614 p.c final yr due to a resilient journey demand.
Journey.Com [HKG: 9961] jumped 7 p.c to HKD356.60 (USD45.59) as of two.30 p.m. in Hong Kong right now. Its New York-listed inventory [NASDAQ: TCOM] closed 1.1 p.c larger at USD41.91 yesterday.
Web revenue was CNY10 billion (USD1.4 billion) within the 12 months ended Dec. 31, the Shanghai-based agency stated in an earnings report launched yesterday. Income soared 112 p.c to CNY44.5 billion.
Journey.Com’s product growth bills jumped 45 p.c to CNY12.1 billion, accounting for 27 p.c of its income.
“In 2023, China launched into a major journey of reconnecting with the world pushed by the rising journey sentiment. Our world enterprise additionally skilled substantial development fueled by our expanded market presence,” stated James Liang, govt chairman of Journey.Com. “With a continued concentrate on globalization and AI improvements, we’re assured to construct upon the success of 2023 and additional discover the alternatives that lie forward.”
“We’re happy with the sturdy outcomes achieved throughout our enterprise segments prior to now yr,” stated Journey.Com’s Chief Govt Jane Solar. “The worldwide journey business has proven exceptional resilience and is poised to maintain its development trajectory.
“To capitalize on this pattern and unlock new alternatives, we stay dedicated to investing in know-how and product innovation, enhancing buyer providers, and selling sustainable growth of the journey business,” Solar added.
Income surged 105 p.c to CNY10.3 billion (USD1.5 billion) within the fourth quarter of final yr from a yr earlier, primarily due to the restoration of the tourism business after the Covid-19 pandemic, Journey.Com famous. However internet revenue fell to CNY1.3 billion (USD189 million) from CNY2.1 billion.
Journey.Com’s outbound lodge and air reservations recovered to greater than 80 p.c within the three months ended Dec. 31 from the pre-pandemic degree of 2019, in contrast with a 60 p.c business restoration in worldwide air passenger quantity, it identified.
Bookings on Journey.Com’s world on-line journey agent platform jumped over 70 p.c within the fourth quarter of final yr from a yr in the past, it famous.
Editor: Martin Kadiev
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