Ctrip.com's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Ctrip.com International, Ltd. ( CTRP)

Q4 2011 Earnings Conference Call

February 20, 2012 8:00 PM ET

Executives

Lin Zhang – IR Manager

Min Fan – President and CEO

James Zhang Liang – Chairman

Jane Sun – CFO

Analysts

Richard Ji – Morgan Stanley

Alex Yao – Deutsche Bank

Chen-Yi Lu – Cowen & Company

Catherine Leung – Goldman Sachs

Eddie Leung – Merrill Lynch

Mike Olson – Piper Jaffray

Alicia Yap – Barclays Capital

Wendy Huang – RBS

Andy Yeung

Elinor Leung – CLSA

Chun Zhao – SIG

Ida Yu – CICC

Aaron Kessler – Raymond James

Long Lin – Brean Murray

Presentation

Operator

Good day, ladies and gentlemen and welcome to the Q4 and Full-Year 2011 Ctrip.com International Ltd. Earnings Conference Call. My name is Walter and I will be your operator for today. At this time, all participants are on a listen-only mode. Later we will conduct a question-and-answer session. (Operator Instructions) As a reminder, this conference is being recorded for replay purposes. I would now like to hand the conference over to your host for today, Investor Relations Manager, Ms. Lin Zhang. Please proceed, Ma’am.

Lin Zhang

Thanks, Walter. Thank you for attending Ctrip’s fourth quarter and full year 2011 earnings conference call. Joining me on the call today, we have Mr. James Liang, Chairman of the Board; Mr. Min Fan, President and the Chief Executive Officer; Ms. Jane Sun, Chief Financial Officer and Ms. Jenny Woo, Deputy Chief Financial Officer.