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PRINCIPAL ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2013

PRINCIPAL ACCOUNTING POLICIES

Company's major VIEs and VIE's subsidiaries

Name of VIE and VIEs’ subsidiaries		Date of establishment/acquisition
Shanghai Ctrip Commerce Co., Ltd. (“Shanghai Ctrip Commerce”)		Established on July 18, 2000
Beijing Ctrip International Travel Agency Co., Ltd. (“Beijing Ctrip”)		Acquired on January 15, 2002
Guangzhou Ctrip International Travel Agency Co., Ltd. (“Guangzhou Ctrip”)		Established on April 28, 2003
Shanghai Ctrip International Travel Agency Co., Ltd. (“Shanghai Ctrip” formerly Shanghai Ctrip Charming International Travel Agency Co., Ltd.)		Acquired on September 23, 2003
Shenzhen Ctrip Travel Agency Co., Ltd. (“Shenzhen Ctrip”)		Established on April 13, 2004
Ctrip Insurance Agency Co., Ltd. (“Ctrip Insurance”)		Established on July 25, 2011
Shanghai Huacheng Southwest Travel Agency Co., Ltd. (“Shanghai Huacheng”)		Established on March 13, 2001
Chengdu Ctrip Travel Agency Co., Ltd. (“Chengdu Ctrip”)		Established on January 8, 2007
Chengdu Ctrip International Travel Agency Co., Ltd. (“Chengdu Ctrip International”)		Established on November 4, 2008

Consolidation balance sheet information of VIEs

		As of December 31,
		2012		2013
		RMB		RMB
Total assets		3,724,911,506		5,982,258,881
Less: Inter-company receivables		(542,006,382	)	(373,041,663	)
Total assets excluding inter-company		3,182,905,124		5,609,217,218
Total liabilities		2,835,938,149		5,287,287,035
Less: Inter-company payables		(564,890,117	)	(1,442,636,737	)
Total liabilities excluding inter-company		2,271,048,032		3,844,650,298

Consolidation results of operations information of VIEs

		For the year ended December 31,
		2011		2012		2013
		RMB		RMB		RMB
Net revenues		1,923,643,591		2,465,286,325		3,137,211,893
Cost of revenues		461,223,883		644,886,101		904,328,902
Net income/ (loss)		206,213,884		198,929,052		(74,463,933	)

Property, equipment and software, estimated useful lives

Building		20-30 years
Leasehold improvements		Lesser of the term of the lease or the estimated useful lives of the assets
Website-related equipment		5 years
Computer equipment		3-5 years
Furniture and fixtures		3-5 years
Software		3-5 years

Allowance for doubtful accounts

		2011		2012		2013
		RMB		RMB		RMB
Balance at beginning of year		5,718,742		4,974,138		4,351,963
Provision for doubtful accounts		185,443		376,164		2,842,681
Write-offs		(930,047	)	(998,339	)	(1,297,741	)
Balance at end of period		4,974,138		4,351,963		5,896,903

Company's share option activity under all the option plans

The following table summarized the Company’s share option activity under all the option plans (in US$, except shares):

		Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value
Outstanding at December 31, 2010		4,414,481		67.71		5.98		415,360,566
Granted		1,375,345		136.86
Exercised		(207,142	)	38.12
Forfeited		(149,143	)	115.98
Outstanding at December 31, 2011		5,433,541		85.02		5.59		144,827,231
Granted		961,980		79.55
Exercised		(502,991	)	29.39
Forfeited		(71,623	)	136.67
Converted to RSU in January 2012		(1,901,372	)	91.8
Outstanding at December 31, 2012		3,919,535		64.81		5.14		57,772,345
Granted		945,106		79.70
Exercised		(660,459	)	48.05
Forfeited		(73,450	)	91.75
Outstanding at December 31, 2013		4,130,732		70.42		4.99		528,988,489
Vested and expect to vest at December 31, 2013		3,982,976		69.95		4.92		511,937,931
Exercisable at December 31, 2013		2,283,785		60.18		3.58		315,856,509

Information related to outstanding and exercisable options

The following table summarizes information related to outstanding and exercisable options as of December 31, 2013 (in US$, except shares):

		Outstanding						Exercisable
Range of Exercise Prices		Number of shares		Weighted-Average Exercise Price		Weighted-average Remaining Contractual Life (Years)		Number of shares		Weighted-Average Exercise Price		Weighted-average Remaining Contractual Life (Years)
23.00-34.99		1,125		30.50		0.12		1,125		30.50		0.12
35.00-44.99		1,353,069		38.06		3.08		1,353,069		38.06		3.08
45.00-58.99		157,558		58.39		1.12		157,558		58.39		1.12
59.00-77.99		1,358,411		76.78		6.98		98,324		70.69		6.43
78.00-96.99		731,131		91.36		5.24		374,298		94.61		4.28
97.00-129.99		466,500		106.12		5.61		257,333		108.79		5.40
130.00-159.99		62,938		151.78		5.17		42,078		150.76		5.10
		4,130,732						2,283,785

Assumptions of Black-Scholes pricing model

		2011		2012		2013
Risk-free interest rate		0.81% - 2.11%		0.71%-1.05%		0.69%-0.87%
Expected life (years)		5.0		5.0		5.0
Expected dividend yield		0%		0%		0%
Volatility		53%-55%		56%		56%
Fair value of options at grant date per share		from US$48.69 to US$74.39		from US$33.44 to US$42.18		from US$37.96 to US$39.69

Schedule of restricted share activities under all option plans

The following table summarized the Company’s RSUs activities under all option plans (in US$, except shares):

		Number of Shares		Weighted average grant date fair value(US$)
Restricted shares
Outstanding at December 31, 2011		190,916		130.29
Granted		164,976		82.34
Converted from option in January 2012		475,343		—
Exercised		(124,644	)	129.84
Forfeited		(60,290	)	128.27
Unvested at December 31, 2012		646,301		101.30	*
Granted		259,365		79.23
Exercised		(224,939	)	118.54
Forfeited		(57,303	)	85.40
Unvested at December 31, 2013		623,424		83.60	*

* It does not include the impact of restricted shares converted from option.

Components of other income

		2011		2012		2013
		RMB		RMB		RMB
Financial subsidies		72,791,093		90,280,139		119,697,248
Foreign exchange gains/(losses)		34,879,388		(9,781,057	)	32,523,857
Reimbursement from the depository		8,080,557		7,914,706		17,507,842
Loss from disposal of property, equipment and software		(3,379,449	)	(653,191	)	(11,946,443	)
Gain on disposal of cost method investment		—		—		4,014,829
Gain on disposal of equity investment		—		—		592,742
Gain on deconsolidation of subsidiaries		—		44,432,052		—
Others		5,252,136		(1,904,706	)	732,299
Total		117,623,725		130,287,943		163,122,374

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