同程旅行(00780)核心业务预计稳健增长，暑期出游呈现量涨价跌

浦银国际证券07-24

同程旅行(780。HK)：核心业务预计稳健增长，暑期出游呈现量涨价跌随着行业需求稳健复苏，我们预计公司二季度收入同比增长48%至人民币42.5亿元，基本符合我们先前预期。其中，我们预计住宿收入同比增长14%，交通票务收入同比增长16%，度假业务收入预计达到7.2亿元。由于度假业务利润率较低，以及公司加大海外业务投资，我们预计二季度调整后净利润同比增长4.1%至6.2亿元，调整后净利率同比下降6.2...

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