Technology

MoonFox Analysis | Ctrip Leverages Increased Investment in Senior Travel, Cross-Border Tourism, and AI as New Engines for Growth

Published

5 hours ago

September 29, 2024

About us: Aurora Mobile (NASDAQ: JG) established in 2011, is a leading customer engagement and marketing technology service provider in China. Its business includes notification services, marketing growth, development tools, and data products. As its sub-brand, MoonFox Data is a leading expert in data insights and analysis services across all scenarios, aiming to help companies gain market insights and empower precise decision-making.

SHENZHEN, China, Sept. 29, 2024 /PRNewswire/ — At the end of August 2024, Ctrip released its unaudited Financial Report for Q2 and the first half of the fiscal year. As a leading platform in the online travel industry, Ctrip achieved revenue of RMB 12.8 billion in Q2, showing growth both YoY and QoQ. Net profit attributable to shareholders reached RMB 3.833 billion, with a YoY increase exceeding 500%. Analyzing by business segment, hotel bookings, and transportation ticketing, as the main revenue contributors, showed steady growth. The tourism and vacation segment demonstrated remarkable growth rates. By focusing on the needs of the elderly, cross-border tourism, and overseas business, Ctrip has effectively formed a new growth engine. From a long-term strategic perspective, Ctrip has further increased investment in AI and ESG (Environmental, Social, and Governance), which is expected to consolidate its competitive moat in terms of products, technology, and user experience.

I. Stable Development of Tourism & Hotel Ticketing Business, Rapid Growth in Tourism and Vacation Revenue

According to the financial report, Ctrip achieved a YoY revenue growth of 13.55% in Q2 of 2024, reaching RMB 12.788 billion (USD 1.8 billion). Benefiting from the increasingly robust cultural tourism consumption market, Q2 revenue also saw a 7% QoQ increase compared to Q1.

Ctrip’s Revenue and Growth from 2022 Q3 to 2024 Q2

Date

Revenue (Billion RMB)

YoY Growth

2022Q3

29 %

2022Q4

7 %

2023Q1

124 %

2023Q2

113

180 %

2023Q3

137

99 %

2023Q4

103

105 %

2024Q1

119

29 %

2024Q2

128

14 %

Data Source: Corporate Financial Reports
Data Cycle: 2022 Q3 – 2024 Q2

MoonFox data shows that as of August 2024, the Ctrip App maintained its leading position in the online travel industry’s MAU rankings with 110.7 million monthly active users. Observing the trends in active users, Ctrip’s UV advantage as a leading OTA platform remained solid in 2024.

Ctrip App Monthly Active Users and Penetration Rate from January to August 2024

Date

MAU (10,000)

MAU Penetration Rate

January

10,531.1

8.6 %

February

11,083.8

9.0 %

March

9,958.2

8.1 %

April

10,738.9

8.7 %

May

9,925.7

8.0 %

June

9,882.2

7.9 %

July

10,744.2

8.6 %

August

11,071.6

8.8 %

Data Source: MoonFox iApp;
Data Cycle: January 2024 – August 2024

Analyzing by business segment, hotel bookings and transportation ticketing remain Ctrip’s two main revenue pillars, accounting for 39.8% and 38.3% of total revenue respectively. The tourism and vacation business showed outstanding growth performance, with a 42% YoY increase and a 16% QoQ increase in Q2, reaching revenue of RMB 1 billion. From a YoY perspective, all of Ctrip’s business segments achieved significant growth, especially in accommodation bookings and tourism and vacation services. This demonstrates the strong pull effect brought by the comprehensive recovery of the tourism market, as well as Ctrip’s capability as an industry-leading platform to meet demand and achieve growth.

II. Intensifying Focus on Elderly Tourism and Cross-border Travel Sectors, Forging New Growth Engines

Since the Q2, Ctrip has intensified its focus on the Elderly Tourism sector, launching a new brand “Ctrip Elderly Club” to provide comprehensive travel services for users aged 50 and above, including specialized products, travel benefits, and exclusive customer service. Subsequently, they upgraded the platform with a Family Card function, enabling children to make bookings and plan itineraries on behalf of their elderly relatives, refining services based on the pain points of senior users on OTA platforms. As of July, Ctrip Elderly Club has launched over 700 elderly tourism products covering more than 40 city destinations nationwide, with nearly half being debut routes or exclusive products, achieving diversification of elderly tourism SKUs and customization for the target demographic. According to MoonFox iApp data, the proportion of Ctrip users aged 46 and above in August 2024 increased compared to the same period last year, exceeding 17%.

Age Distribution of Ctrip App Active Users in August 2023 and August 2024

Age Range

August 2023

August 2024

≤25 years

23.2 %

24.8 %

26-35 years

30.8 %

29.4 %

36-45 years

23.2 %

24.8 %

≥46 years

30.8 %

29.4 %

Data Source: MoonFox iApp;
Data Cycle: August 2023 – August 2024

According to reports, Ctrip Elderly Club served over one million elderly travelers with a GMV of RMB 1.6 billion within 2 months of its establishment. Ctrip stated that it will focus on enhancing user travel experiences and building one-stop service capabilities, planning to collaborate with scenic spots, hotels, airlines, and other entities to launch comprehensive tourism products and services for elderly tourists, further tapping into the potential of the Elderly Tourism market.

On another front, capitalizing on favorable policies such as the 144-hour visa-free transit and the accelerating growth of cross-border tourism, Ctrip has intensified its business layout by introducing convenient inbound tourism products and services, continuously developing cross-border tourism products and routes, partnering with hotels nationwide to launch package products, and expanding global ticketing services. Financial reports show that Ctrip’s inbound tourism bookings in the first half of 2024 increased by nearly 200% YoY, accounting for 25% of revenue on Ctrip’s overseas platforms. Notably, outbound hotel and flight booking businesses have recovered to pre-pandemic levels for the same period. To date, Ctrip has established a global tourism ecosystem network, achieving extensive coverage of global hotels, airlines, travel agencies, and scenic spots in its supply chain, and plans to continue deepening its presence in key overseas markets and expanding its international business layout.

In the long term, we anticipate that the tourism consumption potential of the elderly demographic will continue to be unleashed, and the global tourism market will accelerate its recovery. Ctrip’s strategic moves to deepen its layout in elderly tourism, inbound & outbound travel, and overseas business are expected to enable it to establish advantages in the niche markets of silver tourism and cross-border travel, thereby securing broader space for performance growth in the future.

III. Investing in Performance & Travel and AI & Tourism: Driving Upgrades through Product and Technological Innovation

In Q2, Ctrip’s GMV for performance-related tourism products increased by over 70% YoY. Ctrip’s relevant strategic layout encompasses various forms including tourism combined with concerts, music festivals, sporting events, and film festivals, catering to young users’ travel demands oriented around performances and entertainment. From an industry development perspective, innovating tourism formats through a “Cultural Tourism+” model has become a crucial trend in the current industry. By deeply integrating tourism products and services with the cultural and entertainment industry, this approach achieves user-side experience innovation, fulfilling the need for cultural resonance and immersive experiences in travel scenarios. For platforms, this strategy facilitates benefit enhancement through resource sharing and complementary advantages, thereby promoting industrial upgrading and development.

Beyond the “Cultural Tourism” model, Ctrip’s innovation focus also centers on the implementation of AI technology in travel scenarios. Previously, Ctrip had developed its proprietary vertical large model for tourism, Ctrip Wendao, as well as the AI travel assistant TripGenie launched by Trip.com, establishing capabilities to provide travel content and services based on AI technology. During the Q2 earnings communication meeting, Ctrip adopted an AI Agent persona to communicate with investors, showcasing its AI technological capabilities and introducing its content product layout in the “AI & Tourism” direction – “Travel Hotspots” and Reputation Rankings. Both are AI-powered features based on big data from user search behaviors and reviews, intelligently providing users with inspiration and decision-making assistance across dimensions such as travel destinations, hotel dining services, and more.

To date, Ctrip’s AI capabilities have permeated pre-trip inspiration, in-trip planning and decision-making, and after-sales service stages. According to financial report data, Ctrip’s product research and development expenses have consistently achieved YoY growth in 2024, reaching RMB 3.1 billion and 3 billion in Q1 and Q2 respectively, maintaining a high level and accounting for over 20% of net revenue.

Ctrip’s Product Research and Development Expenses from 2023 Q3 to 2024 Q2

Date

Product R&D Expenses (Billion RMB)

YoY Growth Rate

2023Q3

44 %

2023Q4

39 %

2024Q1

16 %

2024Q2

1 %

Data Source: Corporate Financial Reports
Data Cycle: 2023 Q3 – 2024 Q2

Against the backdrop of intensifying competition in the travel market, investment in AI technology development and application exploration will help provide more intelligent, convenient, and personalized services, matching diverse travel needs and amplifying the professional service capabilities and efficiency advantages of OTA platforms to address cross-industry competition. Ctrip has stated that it will continue to invest in artificial intelligence to promote product and service optimization and business innovation. In the future, Ctrip is expected to leverage its AI & Tourism capabilities to improve user experiences, enhance operational efficiency, and penetrate more niche markets including overseas segments, thereby consolidating its position in the OTA industry.

Our Information:

Website: https://www.moonfox.cn/
Contact number: 400-888-0936

Name: Felix
Title: Director of Sales, Industry Insight Division
Tel: +86 -13366276383
Email: zhouzt@jiguang.cn
Address: 608/F, Tower B, Wintrust Center, No. 1 Xidawang Road, Chaoyang District, Beijing, China

Name: Janette Zhou
Title: Marketing Manager
Tel: +86-13928239332
Email: zhouxt@jiguang,cn
Address: 608/F, Tower B, Wintrust Center, No. 1 Xidawang Road, Chaoyang District, Beijing, China

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SOURCE Aurora Mobile Ltd

Technology

STEM Exploration Day Ignite Girls Passion for Careers in STEM

Published

3 mins ago

September 29, 2024

Professional women with careers in science, technology, engineering and math make a world of difference in inspiring young girls to show them they can achieve anyything they want to with hard work and believing n themselves.

INDIANAPOLIS, Sept. 29, 2024 /PRNewswire-PRWeb/ — The Children’s Museum of Indianapolis is proud to help ignite a passion in science, technology, engineering and mathematics (STEM) for girls of all ages. The STEM Exploration Day took place on Saturday, September 28, 2024 with professional women sharing their experience and advice.

There’s something about a robot that can feed into that interest in science, technology, engineering and math. Touch sensors, buttons and sonar show them how to control different actions and that’s fascinating.

Young girls met with women in various STEM professions including coding, physics, astronomy, robotics and engineering just to name a few. Hands-on activities and demonstrations served as great learning opportunities as visitors received special giveaways.

Programs & Activities – Thank you to all participating groups that provided hands-on activities and helped guide STEM career explorations. They included:

Eli Lilly and Company Visiting Scientist Dr. Carlotta Berry
Dr. Berry is an accomplished electrical engineer specializing in controls and robotics. She advocates for the demystification of STEM through innovative strategies, including robot hip-hop slam poetry. She is a professor and endowed department chair at Rose-Hulman Institute of Technology. She’s also an author, researcher, mentor, role model, prolific speaker, and a STEM trailblazer. Dr. Berry engaged visitors in hands-on exploration with robots. You can hear more from her here: https://youtu.be/16smIuetR_w

Indiana Visiting Artist Emily Bennett
If your first thought of “sculpture” is a gleaming marble bust from ancient Greece, just wait until you see the work of Terre Haute artist Emily Bennett! She redefines what sculpture can be, weaving colorful fibers onto metal structures to create bold, vibrant pieces. The results are what she calls “imaginary dreamscapes” that you can hang on the wall or set on a shelf. As programming coordinator for the Community School of the Arts at Indiana State University, Bennett relishes helping people uncover their artistic abilities.

Women in Lilly Discovery and Development (WiLDD) with Eli Lilly and Company (families created their own binary bracelets and lava lamps).

80 Acres Farms

Franklin Pest Solutions

Indiana State Police Crime Laboratory (visitors examined various pieces of evidence with forensic experts to learn how they solve crimes).

Society of Women Engineers (girls explored mechanical engineering and learned how to make their own catapults). UIndy Human Identification Center (families received an interesting introduction to forensic anthropology, learned about radiographs and studied casts of bones from various animals to learn about the different ages and stages of life).

City of Indianapolis—Department of Public Works, Engineering (shared a storm drain model to demonstrate how families can protect stormwater).

IU Astronomy Department (families learned how the same elements that make up our bodies are also present in galaxies billions of light years away and examined the patterns of Hydrogen, Helium, Oxygen and Neon and made bracelets with the same patterns as these elements).

IU Intelligent Systems Engineering (featured robotics and electronics).

IEEE Women in Engineering (helped visitors explore various sensors).

Sycamore School (more than two dozen activities revolving around mechanics, electricity, sound, optics and air pressure made up the activities).

American Council of Engineering Companies (ACEC) (provided a bridge building simulation).

The Gurl Code (provided binary bracelets, 3D Pens, Ozobots and MakeyMakey).

DNA Discovery in Corteva Agriscience STEMLab (families were able to extract real DNA from plant cells, discovered where DNA can be found in nature and learned about how scientists discovered the structure of DNA).

STEM Exploration Day is presented Lilly Girls & Young Women In STEM and supported by Indiana Soybean Alliance.

About The Children’s Museum of Indianapolis
We ignite joy, wonder and curiosity by creating powerful learning experiences for children and adults. For more information about The Children’s Museum, visit http://www.childrensmuseum.org and follow us on social media @childrensmuseum.

Media Contact

Kimberly Harms, The Children’s Museum of Indianapolis, 317-334-4003, kimh@childrensmuseum.org, www.childrensmuseum.org

Twitter

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SOURCE The Children’s Museum of Indianapolis

Technology

NECA to Unveil EV Charging Resource Network at NECA 2024 San Diego

Published

3 hours ago

September 29, 2024

SAN DIEGO, Sept. 29, 2024 /PRNewswire/ — The National Electrical Contractors Association (NECA) today announced the unveiling of its EV Charging Resource Network at NECA 2024 San Diego. Developed in collaboration with Fuser LLC, this platform aims to empower NECA members to capitalize on the rapidly growing EV charging market.

NECA’s new online hub will provide charging news, information and industry networking opportunities.

“We see a critical need to unify the professional community around Electric Vehicle Service Equipment (EVSE),” said Marco Giamberardino, NECA’s Senior Vice President of Government and Public Affairs. “As EV adoption accelerates, we have to ensure our infrastructure keeps pace. This Resource Network will play a crucial role in connecting skilled electrical professionals with the growing demands of the industry.”

Pete Mastrorocco, NECA’s Senior Vice President of Education, Events and Partnerships, expects the Resource Network to represent NECA’s ongoing commitment to boosting member engagement in lucrative new markets. “EVSE represents a significant opportunity for our members,” said Mastrorocco. “NECA’s Resource Network will be an invaluable tool, helping contractors connect with experienced peers, share knowledge and capitalize on the industry’s rapid growth.”

Key features of NECA’s EV Charging Resource Network will include:

Training resourcesComprehensive EVSE news and informationRegular updates on National Electric Vehicle Infrastructure (NEVI) and Charging and Fueling Infrastructure (CFI) funding opportunitiesCurated links to state and utility grants and rebatesSpecial opportunities for NECA members

The Resource Network also provides access to Fuser, the open marketplace and networking platform devoted to EVSE.

Fuser LLC executive Pat McGinnis has expressed hope to build a stronger, more responsive industry by working with NECA to bring together all EVSE stakeholders. “These initiatives will streamline the service and installation process, create new business opportunities, and support widespread adoption of electric vehicles,” commented McGinnis. “Fuser is working with NECA to integrate their platform and is currently offering an exclusive 4-month free trial of their open marketplace to all NECA members.”

For convention details, visit necaconvention.org.

To explore NECA’s EV Charging Resource Network, visit www.necaev.org.

About NECA

NECA is the voice of the $240 billion electrical construction industry that brings power, light, and communication technology to buildings and communities across North America. NECA’s national office and 118 local chapters advance the industry through advocacy, education, research, and standards development. Go to www.necanet.org for more information.

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SOURCE National Electrical Contractors Assoc Inc.

Technology

CNBM holds promotional conference in Riyadh

Published

4 hours ago

September 29, 2024

RIYADH, Saudi Arabia, Sept. 29, 2024 /PRNewswire/ — A Report From GLOBAL TIMES ONLINE:

China National Building Material Group (CNBM) held a promotional conference in Riyadh, capital of Saudi Arabia on Sept. 25.

The event was joint by over 120 guests from the Chinese Embassy in Saudi Arabia, the government of Saudi Arabia, 35 of the group’s global partners, eight investment organizations as well as renowned media outlets.

Chairman of CNBM Zhou Yuxian delivered a keynote speech at the event, stressing the solid foundation and future prospects of CNBM’s cooperation with Saudi Arabia. He said CNBM is committed to promoting international industrial cooperation, and is ready to contribute its wisdom, plans and strength to the development of Saudi Arabia.

Mosleh H. Alemrani, General Manager for Non-Metallic Minerals Development, Ministry of industry & Mineral Resources of Saudi Arabia, remarked that the government of Saudi Arabia supports green development and will promote carbon reduction and the use of new energy in the cement industry.

Mohammed A. Al-Garni, Board Member & CEO of Saudi Cement Company, reviewed the company’s cooperation with CNBM and reiterated the company’s willingness to promote mutually beneficial cooperation between the two sides.

Mohammad N. A-Mulhim, Vice President of Aramco Asia noted that Aramco and CNBM see huge potential of cooperation in advanced non-metal materials, low-carbon construction materials and energy storage solutions. The framework agreement of cooperation signed by the two sides this time marked their continued cooperation and signaled their willingness to keep sharing opportunities, he added.

During the event, the guests jointly inaugurated Sinoma Technical Service Center (KSA), which aims to improve the service capabilities of CNBM in the Middle East. The service center will provide CNBM’s clients in the Middle East with professional equipment, processing, repairment and maintenance, technical upgradation as well as training services.

The promotional conference built a closer bond between CNBM and various sectors in Saudi Arabia, and laid a solid foundation for promoting the synergy between China’s Belt and Road Initiative and Saudi Arabia’s Vision 2030. CNBM looks forward to joining hands with more partners to jointly advance sustainable development.

View original content:https://www.prnewswire.co.uk/news-releases/cnbm-holds-promotional-conference-in-riyadh-302261862.html