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Guizhou Satellite TV released a video: Kazakh sisters experience Bouyei culture in an immersive way

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GUIYANG, China, Dec. 16, 2022 /PRNewswire/ — Xingyi finds itself in the southwest region of Guizhou Province, China, has always been a commercial distribution center, pivoting point and fortress in the intersection area of provinces Guizhou, Yunnan and Guangxi. It is known as “pivoting point of three provinces” and an important node city on the great sea route in southwest China.

Located in the world-recognized golden climate ecological zone, Xingyi has beautiful mountains and rivers, a pleasant climate and deep cultural heritage. The ethnic customs are rich and the ethnic culture is colorful. The “Eight-Tone Sitting Singing” of the Bouyei music enjoys the reputation of “Sound of Nature” and “Living Fossil of Sound” both at home and abroad. It has been included in the List of National Intangible Cultural Heritage along with the Twelve Compositions with Bouyei Bronze Drums, the Bouyei Opera and the Leyou of the Bouyei people.

The short video series “Be My Guest” produced by Guizhou Satellite TV invites foreigners to visit Guizhou in the form of a reality show to record their real life on the spot. In this episode, Yelshibek Botakoz and Yelshibek Tomiris, sisters from Kazakhstan were full of yearning for Guizhou’s scenery and culture. They came to Xingyi and followed the Bouyei sisters Hani and Xiduo to see the distant mountains, taste specialties, and listen to the ethnic music. They winessed Guizhou’s unique karst topography, tasted the unique food made from glutinous rice of the Bouyei people and heard the “Living fossil of Sound” of the Bouyei people – “Eight-Tone Sitting Singing” lingering, so that they have experienced of the various ethnic cultures of the Bouyei people in an immersive way.

“The Bouyei people are truly one with nature.” The sisters Yelshibek Botakoz and Yelshibek Tomiris are deeply touched by the life state of the Bouyei people that is closely related to nature. The sisters hope that they could bring their family members come and experience the unique customs of Guizhou next time.

Contact:
Yu Xiaoying
Tel.: 0086851-85377412
Email: guizhou1gc@163.com

PR Newswire

ROLLER celebrates gaining Great Place to Work® certification

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Ten years into its business operations, ROLLER has achieved a 98% employee satisfaction rating from Great Place to Work® — the global authority on workplace culture. 

MELBOURNE, Australia, Dec. 5, 2022 /PRNewswire/ — ROLLER, an all-in-one venue management software company for the leisure and attractions industry, recently celebrated achieving Great Place to Work® certification in Australia. 

Great Place to Work® is the global authority on workplace culture, and the certification program results from 30 years of workplace feedback, data, and research. The program is the world’s most extensive study of workplace excellence. 

Once a company has registered for recognition as a Great Place to Work®, its employees are sent a confidential survey that they have two weeks to complete. The survey contains questions on the employees’ general work experience. It asks questions about company culture, departments, direct managers, psychological well-being at work, and more. 

To be eligible for consideration as a Great Place to Work®, at least 75% of employees must complete the survey. Afterward, the results are benchmarked against the world’s best companies. If the applying company stands up to world-class employment excellence standards, they will be awarded Great Place to Work® status. 

Such a status is recognized globally and marks certified companies as an employer of choice. It is an exciting milestone for ROLLER and every team member who has helped make ROLLER what it is today.

“The Great Place to Work® certificate really cements the focus and priority ROLLER has always put on its people. Our people are everything that’s great about our company. We hire amazing, passionate people that are innovative and forward-thinking, and ultimately that results in an incredible platform and service for our customers. And we have an amazing time together along the way!” said Bee Hepburn, Chief People Officer at ROLLER. 

“I truly enjoy and look forward to showing up for work every day, and it’s all because of the people at ROLLER. Our wonderful leaders build a culture where everyone has the opportunity to flourish. And they invest greatly in our professional development, which is why it was possible for me to pursue my CPA while working full-time at ROLLER. With perks like flexible working hours, WFH allowance, remote working, study leave, professional development allowance, etc., ROLLER is indeed a fantastic place to work,” said Pragati Sharma, Senior Finance Manager/ Acting Financial Controller at ROLLER. 

About ROLLER

With customers in over 25 countries, ROLLER is the cloud-based venue management platform for the modern attraction, purpose built to remove friction from the guest experience at every touchpoint. Their all-in-one platform simplifies its customers’ business processes, improving efficiency and maximizing revenue. ROLLER’s modern solution includes: Online Checkout & Ticketing, Point-of-Sale, Integrated Payments, Memberships, Gift Cards, Waivers, Self-Serve Kiosks, Cashless Wallets, the Guest Experience Score®, and more. To learn more, visit roller.software.

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China Matters releases a short video “11 Reasons Why I’ve Fallen in Love with Beijing” to tell an American vlogger’s view

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BEIJING, Nov. 23, 2022 /PRNewswire/ — From rich culture and history to convenient and enriched lifestyle, Beijing is an attractive place in the view of BeeRose who is from the U.S. and has been living in China for three years. In this video, she shares 11 reasons that make her love staying in Beijing.

Beijing is one of the four great ancient capitals of China with a history of over 3000 years. The Beijing government has also been making great efforts to preserve historical landmarks and cultural heritage which provide visitors with a flavour of its unique culture.

In this video, BeeRose is also impressed by Beijing’s rapid technological advances and convenient modern lifestyle. From tiny street vendors to big brands, a huge number of businesses in Beijing accept mobile payments.

“You have a little bar code that comes up. You scan it. Or you scan someone else’s bar code and you pay for it. Done! So easy! So simple! So cool!” said BeeRose.

Beijing is also a global city with food and goods from across the world, which makes BeeRose feel at home. Moreover, she also met her love of life in Beijing and formed a family.

“I was looking for my one in a million in the United States but actually, I found my one in a billion in China,” said BeeRose.

Contact: Jane Cheng
Tel：+8610-68996566
E-mail：1163514639@qq.com

Video – https://youtu.be/ElkYDSjhqFo

PR Newswire

Trip.com Group and Qatar Tourism Sign a Memorandum of Understanding to Promote Qatar as Leading Family-Friendly Tourism Destination

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  • Qatar Tourism and Trip.com Group – one of the world’s leading travel service providers – sign Memorandum of Understanding to promote Qatar as the Middle East’s leading choice for family-friendly tourism
  • Partnership will see campaigns focused on China and India markets, as well as global campaigns
  • Latest agreement forms part of Qatar’s long-term goal to welcome six million visitors a year by 2030

SINGAPORE, Nov. 16, 2022 /PRNewswire/ — Qatar Tourism (QT) and online travel service providers, Trip.com Group, signed a Memorandum of Understanding to promote Qatar across the globe as an ideal choice for family-friendly tourism.


The one-year agreement will see Qatar extensively promoted through a series of marketing campaigns, across Trip.com Group’s world-leading brands and associated assets, which include Ctrip.com (China), Trip.com (global), MakeMyTrip.com (India), and Skyscanner.com (global).

Commenting on the new partnership, the Chairman of Qatar Tourism and Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker, said: “We believe that this new partnership with Trip.com Group will further promote Qatar as the Middle East’s ultimate destination choice for families, through their expansive network of globally recognised travel brands. From Qatar’s thrilling theme parks to adventures in the soaring desert dunescapes, and cultural districts with the ultimate shopping and dining experiences, a trip to Qatar offers something for the whole family.”

Commenting on the new partnership, Chairman and Co-Founder of Trip.com Group, James Liang, said: “I’m excited to strengthen cooperation through this new strategic partnership and bring awareness to a charming destination where tradition meets modernity. This month, the football World Cup will arrive, offering tourists a family-friendly atmosphere to explore and understand this unique destination. To sustain awareness and momentum for Qatar, Trip.com Group will utilise its strong brands and compelling content marketing capabilities to deliver a strong competitive advantage to the destination.”

About Trip.com Group

Trip.com Group is a leading global travel service provider comprising of Trip.com, Ctrip, Skyscanner, Qunar and TrainPal. Across its platforms, Trip.com Group helps travellers around the world make informed and cost-effective bookings for travel products and services and enables partners to connect their offerings with users through the aggregation of comprehensive travel-related content and resources, and an advanced transaction platform consisting of apps, websites and 24/7 customer service centres. Founded in 1999 and listed on NASDAQ in 2003 and HKEX in 2021, Trip.com Group has become one of the best-known travel groups in the world, with the mission “to pursue the perfect trip for a better world”. Find out more about Trip.com Group here: group.trip.com. 

Follow us on: Twitter, Facebook, LinkedIn, and YouTube.

About Qatar Tourism

Qatar Tourism’s mission is to establish Qatar as a place where cultural authenticity meets modernity, and where people of the world come together to experience unique offerings in culture, sports, business and family entertainment, rooted in Service Excellence. Qatar Tourism will regulate and develop the tourism industry, encouraging investment from the private sector. It will set the national strategy for the tourism sector, reviewing it periodically and overseeing its implementation, with the aim of diversifying tourism offerings in the country and increasing visitor spend. Through our network of international offices in priority markets, and cutting-edge digital platforms, Qatar Tourism is expanding Qatar’s presence globally and enhancing the tourism sector.  

Web: www.visitqatar.qa

PR Newswire

China Matters’ Feature: How was an ancient Chinese village transformed by art?

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BEIJING, Nov. 8, 2022 /PRNewswire/ — Gejia village, located in a remote mountainous area of Ningbo, east China’s Zhejiang Province, has a history of more than 1,300 years. This place was once a small, underdeveloped village largely devoid of any industry.

The collective income of Gejia village was a dismal 120,000 yuan back in 2019, but rose to more than 500,000 yuan in 2021. What made a village change in just three years?

Professor Cong Zhiqiang from Renmin University of China (RUC) is the man behind this tremendous change. In 2019, the local government launched a campaign called “rural revitalization through art,” aiming to boost the local economy by developing art-related industries. As a professor at the School of Artsat RUC, Cong Zhiqiang was invited to instruct this campaign.

However, the idea of a rural Chinese village embracing the world of art seemed a bit far-fetched. The locals didn’t accept the idea at first. They saw art as neither meaningful nor lucrative. So Professor Cong stayed in Gejia village for weeks, working and communicating with the locals.

Finally, he found a new way to help the villagers make the best use of art – keeping costs low, developing their own skills, and utilizing local materials. With the support of the local government, Cong not only helped villagers transform abandoned buildings and public spaces, he also exposed locals to business opportunities.

To find out how locals’ lives are changed by the campaign, Italian host Rachele Longhi travels to Gejia village. “The entire village is filled with breath-taking scenery,”said Longhi. She met with different villagers that found their new goals towards art: the wooden roses workshop owner; Yuan Xiaoxian,a housewife-turned handmade dolls shop owner, and the campaign initiator Professor Cong.

“They are more open-minded, inclusive, and more willing to share with others,”Cong said. “This is the power of art.”

With the encouragement from the local government and Professor Cong, villagers in Gejia have begun to embrace new ideas and changes, and are filled with excitement for what’s to come in the future. The artistic village now boasts more than 40 art sharing spaces built by the locals, attracting over 30,000 visitors and generating over five million yuan in tourism income in 2021. What’s more, the success of “rural revitalization through art” in Gejia has inspired other Chinese villages and motivated residents to learn from their experiences.

Contact: Zhong Lei
Tel：008610-68996566
E-mail: 81968029@qq.com

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First Suzhou Jinji Lake China-France Culture and Art Week opens

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Le mur des je t’aime‘s only replica in Asia inaugurated in Suzhou China

SUZHOU, China, Oct. 29, 2022 /PRNewswire/ — The only replica of Le mur des je t’aime in Asia was inaugurated in Suzhou, China on the evening of October 28 (Beijing Time). The First Suzhou Jinji Lake China-France Culture and Art Week also opened on the same day, with various cultural and art events including symphony concerts, film screenings, reading sessions and exhibitions expected to be held in the following days.


Le mur des je t’aime, or the Wall of Love, is a love-themed wall in Montmartre, Paris, France. The wall was created by French artists Frédéric Baron and Claire Kito and is hailed as the “most romantic wall in the world” since on it, the phrase “I love you” is featured 311 times. The 1:1 replica at Ligongdi Cultural Creative Block in Suzhou Industrial Park is its only reproduction in Asia. After inauguration, it will soon become a new cultural attraction of the city and a hot spot for tourists.


The First Suzhou Jinji Lake China-France Culture and Art Week, which is scheduled to end on November 7, features an array of cultural and art exchange activities, such as China-France Symphony Night, an event on the theme of French art and films, “I Love You, Paris” Exhibition, French Literature Reading Week, “Meet Montmartre” Exhibition, “In The Name of Love” Street Painting Art Exhibition, “Montmartre of Paris × Ligongdi of Suzhou” China-France Cultural Fair, and China-France Food Week. Residents of Suzhou are able to feel the authentic French culture and lifestyle near their homes.

The ceremony was livestreamed to the locals in Montmartre via video link to introduce the culture of China and Suzhou, as well as Suzhou Industrial Park. Representatives from the government of the 18th arrondissement of Paris, the Convention and Visitors Bureau of Paris, the France-China Cooperation and Exchange Association, and Montmartre Chamber of Commerce attended the livestreaming event.

The Culture, Sports and Tourism Bureau of Suzhou Industrial Park Administrative Committee and the Convention and Visitors Bureau of Paris signed a cultural partnership convention last year, deciding to organize Suzhou Jinji Lake China-France Culture and Art Week every year and establish friendly cooperation in culture, tourism and art. Montmartre of Paris and Ligongdi of Suzhou also concluded a friendly block agreement.

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Source: The Culture, Sports and Tourism Bureau of Suzhou Industrial Park Administrative Committee

PR Newswire

Tuniu Announces Receipt of Minimum Bid Price Notice from Nasdaq

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NANJING, China, Sept. 23, 2022 /PRNewswire/ — Tuniu Corporation (Nasdaq: TOUR) (“Tuniu” or the “Company”), a leading online leisure travel company in China, today announced that it has received written notification from the staff of the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) dated September 19, 2022, indicating that for the last 30 consecutive business days, the closing bid price for the Company’s American depositary shares (the “ADSs”) was below the minimum bid price of US$1.00 per share requirement set forth in Nasdaq Listing Rule 5450(a)(1). The Nasdaq notification letter has no current effect on the listing or trading of the Company’s securities on the Nasdaq Global Market.

Pursuant to the Nasdaq Listing Rules 5810(c)(3)(A), the Company is provided with a compliance period of 180 calendar days, or until March 20, 2023, to regain compliance under the Listing Rules. If at any time during the 180-day compliance period, the closing bid price of the Company’s ADSs is US$1.00 per share or higher for a minimum of ten consecutive business days, the Nasdaq will provide the Company written confirmation of compliance and the matter will be closed.

In the event the Company does not regain compliance by March 20, 2023, subject to the determination by the staff of Nasdaq, the Company may be eligible for an additional 180-day compliance period.

The Nasdaq notification letter will have no effect on the Company’s business operations, and the Company will take all reasonable measures to regain compliance.

About Tuniu

Tuniu (Nasdaq: TOUR) is a leading online leisure travel company in China that offers a large selection of packaged tours, including organized and self-guided tours, as well as travel-related services for leisure travelers through its website tuniu.com and mobile platform. Tuniu covers over 420 departing cities throughout China and all popular destinations worldwide. Tuniu provides one-stop leisure travel solutions and a compelling customer experience through its online platform and offline service network, including a dedicated team of professional customer service representatives, 24/7 call centers, extensive networks of offline retail stores and self-operated local tour operators. For more information, please visit http://ir.tuniu.com.

Safe Harbor Statement

This press release contains forward-looking statements made under the “safe harbor” provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Tuniu may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about Tuniu’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but are not limited to the following: Tuniu’s goals and strategies; the growth of the online leisure travel market in China; the demand for Tuniu’s products and services; its relationships with customers and travel suppliers; the Company’s ability to offer competitive travel products and services; Tuniu’s future business development, results of operations and financial condition; competition in the online travel industry in China; relevant government policies and regulations relating to the Company’s structure, business and industry; the impact of the COVID-19 on Tuniu’s business operations, the travel industry and the economy of China and elsewhere generally; and the general economic and business condition in China and elsewhere. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Tuniu does not undertake any obligation to update such information, except as required under applicable law.

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Trip.com Group Limited Reports Unaudited Second Quarter and First Half of 2022 Financial Results

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SHANGHAI, Sept. 22, 2022 /PRNewswire/ — Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) (“Trip.com Group” or the “Company”), a leading one-stop travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management, today announced its unaudited financial results for the second quarter and first half of 2022.

Key Highlights for the Second Quarter of 2022

The Company delivered resilient results in the second quarter despite the continued disruptions resulting from the COVID-19 resurgence in China.

  • Net income for the second quarter was RMB43 million (US$6 million), which improved from net loss of RMB1.0 billion for the previous quarter.
  • Adjusted EBITDA for the second quarter was RMB355 million (US$53 million), representing a 290% increase from RMB91 million for the previous quarter,
  • Staycation travel continued to serve as a major contributor to the recovery of the Chinese domestic market, with local hotel bookings increasing by over 30% compared to the same period in 2019.
  • Both air-ticket and hotel bookings on global platforms increased over 100% year over year in the second quarter.

“In the second quarter, the global travel industry has made continued progress towards full recovery. The recovery momentum in Europe and the United States remained robust, and the rebound of travel activities in the Asia-Pacific region also sped up due to further relaxation of travel restrictions,” said James Liang, Executive Chairman. “With our product innovation and service enhancement, we are confident in further strengthening our competitive position and capturing the pent-up demand. “

“Despite the challenges in the China domestic market in the first two months of the second quarter, the fundamental demand for travel remained solid. We are delighted to see the domestic hotel bookings quickly bouncing back to the pre-pandemic level at the end of the second quarter with such momentum extended into the following months.” said Jane Sun, Chief Executive Officer. “We will continue to improve our operating efficiency and conduct prudent cost control in the face of the changing environment. All these efforts will enable us to remain flexible and pave the way for long-term growth.”

Second Quarter of 2022 Financial Results and Business Updates

In the second quarter of 2022, the COVID-19 resurgence continued to disrupt the travel industry in China, which discouraged user demand for the Company’s services. As a result, the Company’s results of operations for the second quarter of 2022 were materially and adversely affected.

For the second quarter of 2022, Trip.com Group reported net revenue of RMB4.0 billion (US$598 million), representing a 32% decrease from the same period in 2021 and a 2% decrease from the previous quarter, primarily due to the continued disruptions resulting from the COVID-19 resurgence in China.

Accommodation reservation revenue for the second quarter of 2022 was RMB1.4 billion (US$203 million), representing a 45% decrease from the same period in 2021 and a 6% decrease from the previous quarter, primarily due to the continued disruptions resulting from the COVID-19 resurgence in China.

Transportation ticketing revenue for the second quarter of 2022 was RMB1.8 billion (US$263 million), representing a 15% decrease from the same period in 2021, primarily due to the continued disruptions resulting from the COVID-19 resurgence in China. Transportation ticketing revenue increased by 6% from the previous quarter, primarily driven by strong recovery of air travel in the overseas market.

Packaged-tour revenue for the second quarter of 2022 was RMB122 million (US$18 million), representing a 67% decrease from the same period in 2021 and a 2% decrease from the previous quarter, primarily due to the continued disruptions resulting from the COVID-19 resurgence in China.

Corporate travel revenue for the second quarter of 2022 was RMB210 million (US$31 million), representing a 46% decrease from the same period in 2021 and a 5% decrease from the previous quarter, primarily due to the continued disruptions resulting from the COVID-19 resurgence in China.

Cost of revenue for the second quarter of 2022 was RMB976 million (US$146 million), representing a 20% decrease from the same period in 2021, which was in line with the decrease in net revenue. Cost of revenue decreased by 9% from the previous quarter. Cost of revenue as a percentage of net revenue was 24% for the second quarter of 2022.

Product development expenses for the second quarter of 2022 decreased by 20% to RMB1.8 billion (US$264 million) from the same period in 2021 and decreased by 10% from the previous quarter, primarily due to a decrease in product development personnel related expenses. Product development expenses as a percentage of net revenue was 44% for the second quarter of 2022.

Sales and marketing expenses for the second quarter of 2022 decreased by 41% to RMB826 million (US$123 million) from the same period in 2021 and decreased by 2% from the previous quarter, primarily due to a decrease in expenses relating to sales and marketing promotion activities. Sales and marketing expenses as a percentage of net revenue was 21% for the second quarter of 2022.

General and administrative expenses for the second quarter of 2022 decreased by 15% to RMB604 million (US$90 million) from the same period in 2021, primarily due to a decrease in general and administrative personnel related expenses. General and administrative expenses increased by 3% from the previous quarter. General and administrative expenses as a percentage of net revenue was 15% for the second quarter of 2022.

Income tax expense for the second quarter of 2022 was RMB173 million (US$26 million), compared to income tax expense of RMB97 million for the same period in 2021 and income tax benefit of RMB14 million in the previous quarter. The change in Trip.com Group’s effective tax rate was primarily due to the combined impacts of changes in respective profitability of its subsidiaries with different tax rates, certain non-taxable income or loss resulting from the fair value changes in equity securities investments and exchangeable senior notes, and changes in valuation allowance provided for deferred tax assets.

Net income for the second quarter of 2022 was RMB43 million (US$6 million), compared to net loss of RMB659 million for the same period in 2021 and net loss of RMB1 billion for the previous quarter. Adjusted EBITDA for the second quarter of 2022 was RMB355 million (US$53 million), compared to RMB916 million for the same period in 2021 and RMB91 million for the previous quarter. Adjusted EBITDA margin was 9% for the second quarter of 2022, compared to 16% for the same period in 2021 and 2% for the previous quarter.

Net income attributable to Trip.com Group’s shareholders for the second quarter of 2022 was RMB69 million (US$10 million), compared to net loss attributable to Trip.com Group’s shareholders of RMB647 million for the same period in 2021 and net loss attributable to Trip.com Group’s shareholders of RMB989 million for the previous quarter. Excluding share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense) and their tax effects, non-GAAP net loss attributable to Trip.com Group’s shareholders was RMB203 million (US$31 million), compared to non-GAAP net income attributable to Trip.com Group’s shareholders of RMB728 million in the same period in 2021 and non-GAAP net loss attributable to Trip.com Group’s shareholders of RMB36 million for the previous quarter.

Diluted income per ordinary share and per ADS was RMB0.10 (US$0.01) for the second quarter of 2022. Excluding share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes and their tax effects, non-GAAP diluted loss per ordinary share and per ADS was RMB0.31 (US$0.05) for the second quarter of 2022. Each ADS currently represents one ordinary share of the Company.

As of June 30, 2022, the balance of cash and cash equivalents, restricted cash, short-term investment, held to maturity time deposit and financial products was RMB65.6 billion (US$9.8 billion).

Conference Call

Trip.com Group’s management team will host a conference call at 8:00 PM EST on September 21, 2022 (or 8:00 AM CST on September 22, 2022) following this announcement.

The conference call will be available live on Webcast and for replay at: https://investors.trip.com. The call will be archived for twelve months on our website.

All participants must pre-register to join this conference call using the Participant Registration link below:

https://register.vevent.com/register/BIe6a1088f8c3f4a77a18a7d5b03d2bc2e

Upon registration, each participant will receive details for this conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the number provided, enter your PIN, and you will join the conference instantly.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “future,” “intend,” “plan,” “believe,” “estimate,” “is/are likely to,” “confident” or other similar statements. Among other things, quotations from management in this press release, as well as Trip.com Group’s strategic and operational plans, contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, severe or prolonged downturn in the global or Chinese economy, general declines or disruptions in the travel industry, the impact of COVID-19 pandemic to Trip.com Group’s business operations, volatility in the trading price of Trip.com Group’s ADSs or shares, Trip.com Group’s reliance on its relationships and contractual arrangements with travel suppliers and strategic alliances, failure to compete against new and existing competitors, failure to successfully manage current growth and potential future growth, risks associated with any strategic investments or acquisitions, seasonality in the travel industry in the relevant jurisdictions where Trip.com Group operates, failure to successfully develop Trip.com Group’s existing or future business lines, damage to or failure of Trip.com Group’s infrastructure and technology, loss of services of Trip.com Group’s key executives, adverse changes in economic and political policies of the PRC government, inflation in China, risks and uncertainties associated with PRC laws and regulations with respect to the ownership structure of Trip.com Group’s affiliated Chinese entities and the contractual arrangements among Trip.com Group, its affiliated Chinese entities and their shareholders, and other risks outlined in Trip.com Group’s filings with the U.S. Securities and Exchange Commission or the Stock Exchange of Hong Kong Limited. All information provided in this press release and in the attachments is as of the date of the issuance, and Trip.com Group does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About Non-GAAP Financial Measures

To supplement Trip.com Group’s unaudited condensed consolidated financial statements presented in accordance with United States Generally Accepted Accounting Principles (“GAAP”), Trip.com Group uses non-GAAP financial information related to adjusted net income attributable to Trip.com Group Limited, adjusted EBITDA, adjusted EBITDA margin and adjusted diluted earnings per ordinary share and per ADS, each of which is adjusted from the most comparable GAAP result to exclude the share-based compensation charges that are not tax deductible and fair value changes of equity securities investments and exchangeable senior notes, net of tax. Trip.com Group’s management believes the non-GAAP financial measures facilitate better understanding of operating results from quarter to quarter and provide management with a better capability to plan and forecast future periods.

Non-GAAP information is not prepared in accordance with GAAP, does not have a standardized meaning under GAAP, and may be different from non-GAAP methods of accounting and reporting used by other companies. The presentation of this additional information should not be considered a substitute for GAAP results. A limitation of using non-GAAP financial measures is that non-GAAP measures exclude share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes and their tax effects that have been and will continue to be significant recurring expenses in Trip.com Group’s business for the foreseeable future.

Reconciliations of Trip.com Group’s non-GAAP financial data to the most comparable GAAP data included in the consolidated statement of operations are included at the end of this press release.

About Trip.com Group Limited

Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) is a leading global one-stop travel platform, integrating a comprehensive suite of travel products and services and differentiated travel content. It is the go-to destination for travelers in China, and increasingly for travelers around the world, to explore travel, get inspired, make informed and cost-effective travel bookings, enjoy hassle-free on-the-go support, and share travel experience. Founded in 1999 and listed on Nasdaq in 2003 and HKEX in 2021, the Company currently operates under a portfolio of brands, including Ctrip, Qunar, Trip.com and Skyscanner, with the mission “to pursue the perfect trip for a better world.”

For further information, please contact:

Investor Relations

Trip.com Group Limited
Tel: +86 (21) 3406-4880 X 12229
Email: iremail@trip.com

Trip.com Group Limited

Unaudited Consolidated Balance Sheets

(In millions, except share and per share data)

December 31, 2021

June 30, 2022

June 30, 2022

RMB (million)

RMB (million)

USD (million)

ASSETS

Current assets:

Cash, cash equivalents and restricted cash

21,196

22,959

3,427

Short-term investments

29,566

30,721

4,587

Accounts receivable, net 

4,649

5,445

813

Prepayments and other current assets 

10,697

10,778

1,609

Total current assets

66,108

69,903

10,436

Property, equipment and software

5,534

5,307

792

Intangible assets and land use rights

13,046

12,929

1,931

Right-of-use assets

777

925

138

Investments (Includes held to maturity time deposit and
financial products of RMB13,112 million and RMB11,891
million as of December 31,2021 and June 30, 2022,
respectively)

44,961

44,075

6,580

Goodwill

59,353

59,326

8,857

Other long-term assets

396

398

60

Deferred tax asset

1,684

1,765

263

Total assets

191,859

194,628

29,057

LIABILITIES

Current liabilities:

Short-term debt and current portion of long-term debt

39,866

36,203

5,405

Accounts payable

6,019

6,745

1,007

Advances from customers

7,535

7,822

1,168

Other current liabilities

12,798

11,926

1,781

Total current liabilities

66,218

62,696

9,361

Deferred tax liability

3,527

3,491

521

Long-term debt

11,093

17,402

2,598

Long-term lease liability

400

591

88

Other long-term liabilities

165

170

25

Total liabilities

81,403

84,350

12,593

SHAREHOLDERS’ EQUITY

Total Trip.com Group Limited shareholders’ equity

109,677

109,542

16,354

Non-controlling interests

779

736

110

Total shareholders’ equity

110,456

110,278

16,464

Total liabilities and shareholders’ equity

191,859

194,628

29,057

Trip.com Group Limited

Unaudited Consolidated Statements of Income/(Loss)

(In millions, except share and per share data)

Three Months Ended

Six Months Ended

June 30, 2021

March 31, 2022

June 30, 2022

June 30, 2022

June 30, 2021

June 30, 2022

June 30, 2022

RMB (million)

RMB (million)

RMB (million)

USD (million)

RMB (million)

RMB (million)

USD (million)

Revenue:

Accommodation reservation 

2,455

1,450

1,357

203

4,035

2,807

419

Transportation ticketing 

2,066

1,663

1,763

263

3,572

3,426

512

Packaged-tour 

367

124

122

18

536

246

37

Corporate travel

390

222

210

31

642

432

64

Others

614

652

564

84

1,216

1,216

181

Total revenue

5,892

4,111

4,016

599

10,001

8,127

1,213

Less: Sales tax and surcharges

(2)

(2)

(5)

(1)

(3)

(7)

(1)

Net revenue

5,890

4,109

4,011

598

9,998

8,120

1,212

Cost of revenue

(1,223)

(1,067)

(976)

(146)

(2,257)

(2,043)

(305)

Gross profit

4,667

3,042

3,035

452

7,741

6,077

907

Operating expenses:

Product development *

(2,226)

(1,974)

(1,772)

(264)

(4,451)

(3,746)

(559)

Sales and marketing *

(1,402)

(843)

(826)

(123)

(2,354)

(1,669)

(249)

General and administrative *

(713)

(584)

(604)

(90)

(1,397)

(1,188)

(178)

Total operating expenses

(4,341)

(3,401)

(3,202)

(477)

(8,202)

(6,603)

(986)

Income/(Loss) from operations

326

(359)

(167)

(25)

(461)

(526)

(79)

Interest income 

472

591

544

81

890

1,135

169

Interest expense

(418)

(341)

(351)

(52)

(825)

(692)

(103)

Other (expense)/income

(848)

(707)

469

70

1,660

(238)

(35)

(Loss)/Income before income tax
expense and equity in income of
affiliates

(468)

(816)

495

74

1,264

(321)

(48)

Income tax (expense)/benefit

(97)

14

(173)

(26)

(138)

(159)

(24)

Equity in loss of affiliates

(94)

(199)

(279)

(42)

(20)

(478)

(71)

Net (loss)/income

(659)

(1,001)

43

6

1,106

(958)

(143)

Net loss attributable to non-controlling interests

12

12

26

4

27

38

6

Net (loss)/income attributable to
Trip.com Group Limited

(647)

(989)

69

10

1,133

(920)

(137)

(Losses)/Earnings per ordinary share

– Basic

(1.02)

(1.52)

0.10

0.01

1.76

(1.42)

(0.21)

– Diluted

(1.02)

(1.52)

0.10

0.01

1.73

(1.42)

(0.21)

(Losses)/Earnings per ADS

– Basic

(1.02)

(1.52)

0.10

0.01

1.76

(1.42)

(0.21)

– Diluted

(1.02)

(1.52)

0.10

0.01

1.73

(1.42)

(0.21)

Weighted average ordinary shares outstanding

– Basic

635,476,056

647,812,835

647,866,001

647,866,001

644,666,248

647,843,829

647,843,829

– Diluted

635,476,056

647,812,835

650,906,465

650,906,465

656,483,984

647,843,829

647,843,829

* Share-based compensation included in Operating expenses above is as follows:

  Product development 

181

107

146

22

332

253

38

  Sales and marketing 

34

18

28

4

56

46

7

  General and administrative 

151

98

130

19

272

228

34

Trip.com Group Limited

Unaudited reconciliation of  GAAP and Non-GAAP Results

(In millions, except % and per share data)

Three Months Ended

Six Months Ended

June 30, 2021

March 31, 2022

June 30, 2022

June 30, 2022

June 30, 2021

June 30, 2022

June 30, 2022

RMB (million)

RMB (million)

RMB (million)

USD (million)

RMB (million)

RMB (million)

USD (million)

Net (loss)/income

(659)

(1,001)

43

6

1,106

(958)

(143)

Less: Interest income

(472)

(591)

(544)

(81)

(890)

(1,135)

(169)

Add: Interest expense

418

341

351

52

825

692

103

Add: Other expense/(income)

848

707

(469)

(70)

(1,660)

238

35

Add: Income tax expense/(benefit)

97

(14)

173

26

138

159

24

Add: Equity in loss of affiliates

94

199

279

42

20

478

71

Income/(Loss) from operations

326

(359)

(167)

(25)

(461)

(526)

(79)

Add: Share-based compensation

366

223

304

45

660

527

79

Add: Depreciation and amortization

224

227

218

33

501

445

66

Adjusted EBITDA

916

91

355

53

700

446

66

Adjusted EBITDA margin

16 %

2 %

9 %

9 %

7 %

5 %

5 %

Net (loss)/income attributable to Trip.com Group Limited

(647)

(989)

69

10

1,133

(920)

(137)

Add: Share-based compensation

366

223

304

45

660

527

79

Add: Loss/(Gain) from fair value changes of equity securities investments
and exchangeable senior notes

1,053

785

(668)

(100)

(1,314)

117

17

Add: Tax effects on fair value changes of equity securities investments and
exchangeable senior notes

(44)

(55)

92

14

45

37

6

Non-GAAP net income/(loss) attributable to Trip.com Group Limited

728

(36)

(203)

(31)

524

(239)

(35)

Weighted average ordinary shares outstanding- Diluted-non GAAP 

645,021,131

647,812,835

647,866,001

647,866,001

656,483,984

647,843,829

647,843,829

Non-GAAP Diluted income/(losses) per share

1.13

(0.06)

(0.31)

(0.05)

0.80

(0.37)

(0.06)

Non-GAAP Diluted income/(losses) per ADS

1.13

(0.06)

(0.31)

(0.05)

0.80

(0.37)

(0.06)

Notes for all the condensed consolidated financial schedules presented:

Note 1: The conversion of Renminbi (RMB) into U.S. dollars (USD) is based on the certified exchange rate of USD1.00=RMB6.6981 on June 30, 2022 published by the Federal Reserve Board.

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PR Newswire

PRICE COMPARISON TRAVEL APP WAYAWAY LAUNCHES OFFSETTING INITIATIVE

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  • Recently launched travel price comparison appWayAway announces A Green Way to Travel initiative.
  • All contributions by WayAway users are doubled by the app.
  • Carbon offsetting provided by Sustainable Travel International.

NEW YORK, Aug. 29, 2022 /PRNewswire/ — WayAway – the recently founded price comparison app for travel – today announces the launch of ‘A Green Way To Travel Initiative.

The initiative reduces the carbon footprint damage of traveling by purchasing carbon credits provided by Sustainable Travel International. The company partnered with Envira Amazonia Project in Brazil and takes care of 500,000 acres of rainforests and protects against lumber harvesting and cattle ranching. 

WayAway is a new price comparison travel app that launched in the summer of 2022 and offers cost-saving, intelligent searches for the best flight, accommodation and car rental deals.

Users who subscribe to the WayAway Plus membership plan of the app gain multiple cashback offers from all trip purchases – but unlike other travel cashback programs however users are able to withdrawable real hard cash via PayPal.

WayAway Plus users are then able to use this cashback for contribution – taking advantage of a tool built into the app to estimate the impact of their trip – to the ‘A Green Way To Travel’ program and all contributions are then doubled by WayAway.

Ivan Baidin, WayAway CEO comments: “Traveling damages the planet and this problem needs to be solved if we want to keep going for vacations. But many travelers are simply lost as to what meaningful steps they should take to address this. So we at WayAway have established a partnership with the inspiring team at Sustainable Travel International to give our users a simple and trustworthy option for offsetting their travel with every trip.”

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PR Newswire

2022 Creative Expo Taiwan: Resonance Island Call to place the island experience at the forefront

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KAOHSIUNG, Taiwan, Aug. 12, 2022 /PRNewswire/ — The 2022 Creative Expo Taiwan, the largest cultural and creative event in Asia, is holding in Kaohsiung, at the Kaohsiung Exhibition Center and the Kaohsiung Music Center between Aug. 5-14, organized by Taiwan Design Research Institute. The theme of this year’s exhibition is “Resonance Island,” representing a to call to place the island experience at the forefront. In recent years, the cultural and creative industry has been regarded as an important indicator of competitiveness and become an industry that many young people flock to. Many enterprises and brands in Taiwan have used cultural and creative elements in many aspects such as events, competitions, etc., to enhance the brand value and show Taiwan’s unique soft power.

The Creative Expo Taiwan presents two main sections—”Cultural Concepts” and “Trade Platform” covering three major exhibitions of cultural curatorial exhibition, Cultural and Creative Brands, and IP Licensing.

The Cultural section is themed “Island of Passion,” and has five areas each symbolizing personal experiences. The Main pavilion, “Resonance Island,” immerses visitors in experiences, as well as enabling the virtual co-creation of new experiences with artists residing in in remote islands. The Craft pavilion, “The Craft SHOP,” enable visitors to experience journeys taken through objects. The Chiayi pavilion showcases the evolution of a contemporary modern city, Chiayi. The Matsu pavilion leads audiences wandering around islands and tracing back to the past of Matsu. The Response pavilion is launched by co-host city, Kaohsiung to present a vision where visitors take a dream-like flight over Taiwan.

The Creative section has the theme of “Ideal Adventure,” gathering cultural and creative brands from across Taiwan and showcases the discerning tastes through a journey through curated selection of classic fashion, while also exploring local original creations through local revitalization through new perspectives. The Licensing section showcases “Super IPs,” gathering innovative vocabularies of the new generation, original IPs, illustrated stories, digital entertainment, and other original intellectual properties to transport visitors through a world of co-branding in the digital realm, with the hope of unlocking boundless and interlinked markets.

The Creative Expo Taiwan enhances virtual-real integration and connection and expand its reach on virtual channels through 5G technology. In addition to the physical exhibition, the Creative Expo Taiwan has launched a new online platform, CET+, in order to provide all the participating brands a channel to promotes to both domestic and foreign buyers through the integration of online and offline. Besides CET+, the Creative Expo Taiwan has also partnered Pinkoi, one of Asia’s leading online marketplaces for original design goods, digital creations and workshop experiences, to launch an online Creative Expo section to help domestic exhibitors to open up new markets and business opportunities.

This year the Creative Expo Taiwan also partners with XRSPACE, the pioneer of the Metaverse, to cooperate with the “GOXR Metaverse Creators Project to provide creators participating in “IP licensing brands” and “Talent 100” which includes 100 emerging brands and creators in Taiwan and abroad this year to have a multiverse experiential space.

The 2022 Taiwan Creative Expo “Resonance Island-Together, we sound in vibrant harmony.” is based creating links in the cultural and creative industry to create a perspective in shared culture and lifestyles to show “It’s All Connected.” As participants of the co-creation process, people embark on an adventure to reexamine Taiwan through a macro lens, and the humanities from a micro lens to create more connections and views to reshape the island through resonance.

Official Links:
Website: https://creativexpo.tw/en
Facebook: https://www.facebook.com/creativexpo.tw/
Instagram: https://www.instagram.com/creativexpo.tw/
CET+: https://creativexpo.tw/cetplus/
Pinkoi Creative Expo section: https://business.pinkoi.com/creative_expo
Download GOXR APP: bit.ly/GOXRAPP
Get to know more GOXR: https://www.facebook.com/official.xrspace

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