Dahua Jixian: Raised Ctrip Group-S (09961) target price to HK$727, maintaining "buy" rating.

According to the Smart Financial News APP, Dahua Jixian released a research report stating that the performance of Ctrip Group-S (09961) in the third quarter of 2025 exceeded expectations. Revenue increased by 15.5% year-on-year to 18.4 billion RMB, which is in line with market expectations. Non-GAAP net profit for the third quarter of 2025 reached 19.2 billion RMB. Excluding the 17 billion RMB investment income from Make My Trip (a non-recurring item), non-GAAP net profit increased by 8% year-on-year to 5.9 billion RMB, exceeding market expectations by 4%. The report states that Ctrip predicts that revenue in the fourth quarter of 2025 will increase by 15 to 20% year-on-year to 16.7 billion RMB, in line with market expectations. The "Buy" rating is maintained, and the target price is slightly raised from 725 Hong Kong dollars to 727 Hong Kong dollars.