Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Focusing on Asian logistics, transportation, and travel companies

Asian Equities Analyst, Logistics & Transport

Ctrip.com Surprises Markets With New Equity and Convertible Note Issuance

First Cut on Ctrip.com Q2 Results: Margins Remain Under Pressure

Equity Bottom-Up

<p>After listening to <a href="https://www.smartkarma.com/entities/180" target="_blank" data-smartkarma-citation="entities:180:1">Ctrip.com International (ADR) (CTRP US)</a>'s Q2 earning conference call, we are convinced that competitive pressures are increasing for China's giant online travel group. In our view, competition (and related pressure on margins) remains intense, but it appears to be coming mainly from indirect competitors and rivals that weren't even on CTRP's radar 1-2 years ago. We therefore retain our negative view on CTRP.</p><p>Competition appears to be increasing despite the company's dominant…</p>

After listening to Ctrip.com International (ADR) (CTRP US)'s Q2 earning conference call, we are convinced that competitive pressures are increasing for China's giant online travel group. In our view, competition (and related pressure on margins) remains intense, but it appears to be coming mainly from indirect competitors and rivals that weren't even on CTRP's radar 1-2 years ago. We therefore retain our negative view on CTRP.Competition appears to be increasing despite the company's dominant…

More on Ctrip.com Q2 Results; Competition Increasing On All Fronts

Trip.com

More on Ctrip.com Q2 Results; Competition Increasing On All Fronts