crashteamracingmultiplayer| Jefferies: Maintaining the "Buy" rating of Same Journey Travel, first-quarter revenue and adjusted profit exceeded expectations

Jeffery issued a report statingcrashteamracingmultiplayer, the first-quarter revenue and adjusted profit of same-trip travel exceeded expectations. Management is optimistic about tourism demand and pointed out that consumers prefer more diversified tourism products.

Management disclosed multiple strategies to attract users, and the upward trend in market share is sustainable. The bank maintains its forecast for the company's revenue and adjusted profit this year unchanged. Affected by last year's base effect, growth in the second half is expected to accelerate compared with the first half.

The bank predicts that revenue from core online travel platforms in the second quarter of same trip will increase 24% year-on-year to approximately 3.6 billion yuan, with travel revenue of approximately 7.7 billion yuancrashteamracingmultiplayer.29 billion yuan. Hotel and transportation revenue are expected to increase by 10% and 20% year-on-year respectively. For hotels, the average daily rent is expected to remain stable year-on-year, with the collection rate ranging from 8.5% to 9%, and the quarterly adjusted net profit is expected to reach 605 million yuan. The adjusted net profit margin is approximately 14%.

The bank gave the group a target price of HK$28.2 and maintained its "Buy" rating.

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