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PRINCIPAL ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2017
Acquisitions disclosures |
Summary of 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
Shanghai Huacheng Southwest International Travel Agency Co., Ltd. (“Shanghai Huacheng”, formerly known as Shanghai Huacheng Southwest Travel Agency Co., Ltd.) |  | Established on March 13, 2001
Chengdu Ctrip Travel Agency Co., Ltd. (“Chengdu Ctrip”) |  | Established on January 8, 2007
Beijing Qu Na Information Technology Company Limited (“Qunar Beijing”) |  | Established on March 17, 2006
Summary of consolidated balance sheet information of VIEs |
|  | As of December 31, |
|  | 2016 |  | 2017 |
|  | RMB |  | RMB |
Total assets |  | 30,544,580,876 |  | 21,755,512,736 |
Less: Inter-company receivables |  | (2,050,819,348 | ) | (1,569,895,648 | )
Total assets excluding inter-company |  | 28,493,761,528 |  | 20,185,617,088 |
Total liabilities |  | 29,101,732,239 |  | 19,282,345,546 |
Less: Inter-company payables |  | (15,904,065,265 | ) | (12,114,432,077 | )
Total liabilities excluding inter-company |  | 13,197,666,974 |  | 7,167,913,469 |
Summary of consolidated results of operations information of VIEs |
|  | For the year ended December 31, |
|  | 2015 |  | 2016 |  | 2017 |
|  | RMB |  | RMB |  | RMB |
Net revenues |  | 6,384,556,234 |  | 8,706,139,377 |  | 8,237,250,837 |
Cost of revenues |  | 1,983,511,461 |  | 2,442,997,433 |  | 2,489,892,564 |
Net income / (loss) |  | (73,523,163 | ) | 100,653,423 |  | 863,231,207 |
Summary of consolidated results of cash flows information of VIEs |
|  | For the year ended December 31, |
|  | 2015 |  | 2016 |  | 2017 |
|  | RMB |  | RMB |  | RMB |
Net cash provided by operating activities |  | 160,298,446 |  | 7,190,925,721 |  | 1,232,432,873 |
Net cash used in investing activities |  | — |  | — |  | — |
Net cash provided by financing activities |  | — |  | — |  | — |
Schedule of property, equipment and software estimated useful lives |
Building |  | 30-40 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 |
|  | 2015 |  | 2016 |  | 2017 |
|  | RMB |  | RMB |  | RMB |
Balance at beginning of year |  | 14,707,184 |  | 38,237,658 |  | 58,841,826 |
Provision for doubtful accounts |  | 32,080,786 |  | 32,339,617 |  | 97,944,278 |
Write-offs |  | (8,550,312 | ) | (11,735,449 | ) | (28,064,747 | )
Balance at end of period |  | 38,237,658 |  | 58,841,826 |  | 128,721,357 |
Company's share option activity under all the incentive plans | The following table summarized the Company’s share option activity under all the option plans, which has reflected the effect of the Exchange of Qunar Share Incentive Plans (in US$, except shares):
|  | Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Years) |  | Aggregate Intrinsic Value |
Outstanding at December 31, 2014 |  | 4,972,178 |  | 101.03 |  | 5.17 |  | 405,399,251 |
Granted |  | 625,006 |  | 247.91 |  |  |  |  |
Exercised |  | (506,163) |  | 65.65 |  |  |  |  |
Forfeited |  | (85,560) |  | 156.32 |  |  |  |  |
Outstanding at December 31, 2015 |  | 5,005,461 |  | 122.00 |  | 4.77 |  | 1,244,544,670 |
Granted |  | 937,002 |  | 322.20 |  |  |  |  |
Exercised |  | (368,722 | ) | 80.70 |  |  |  |  |
Forfeited |  | (41,226 | ) | 199.32 |  |  |  |  |
Outstanding at December 31, 2016 |  | 5,532,515 |  | 157.82 |  | 4.54 |  | 899,966,907 |
Granted (including grants in exchange for Qunar options ) |  | 631,166 |  | 43.03 |  |  |  |  |
Exercised |  | (1,353,697 | ) | 68.95 |  |  |  |  |
Forfeited |  | (99,226 | ) | 133.92 |  |  |  |  |
Outstanding at December 31, 2017 |  | 4,710,758 |  | 168.80 |  | 4.72 |  | 866,781,417 |
Vested and expect to vest at December 31, 2017 |  | 4,570,018 |  | 167.40 |  | 4.67 |  | 847,267,373 |
Exercisable at December 31, 2017 |  | 2,951,517 |  | 141.77 |  | 3.78 |  | 622,855,872 |
Information related to outstanding and exercisable options | The following table summarizes information related to outstanding and exercisable options as of December 31, 2017 (in US$, 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) |
0.00-100.00 |  | 1,671,410 |  | 61.24 |  | 3.90 |  | 1,306,991 |  | 78.31 |  | 2.93 |
100.01-200.00 |  | 1,460,228 |  | 155.54 |  | 3.84 |  | 1,128,628 |  | 151.22 |  | 3.67 |
200.01-300.00 |  | 664,262 |  | 253.65 |  | 5.72 |  | 299,221 |  | 250.70 |  | 5.69 |
300.01-400.00 |  | 914,858 |  | 324.87 |  | 6.88 |  | 216,677 |  | 324.92 |  | 6.87 |
|  | 4,710,758 |  |  |  |  |  | 2,951,517 |  |  |  |  |
Assumptions of Black-Scholes pricing model |
|  | 2015 |  | 2016 |  | 2017 |
Risk-free interest rate |  | 1.35%-1.59% |  | 1.16%-1.66% |  | 1.73%-1.94% |
Expected life (years) |  | 5.0 |  | 5.0 |  | 5.0 |
Expected dividend yield |  | 0% |  | 0% |  | 0% |
Volatility |  | 49%-50% |  | 48%-51% |  | 46%-48% |
Fair value of options at grant date per share |  | from US$105.16 |  | from US$133.85 |  | from US$142.29 |
|  | to US$112.76 |  | to US$141.72 |  | to US$430.87 |
Schedule of restricted share activities under all incentive plans | The following table summarized the Company’s RSUs activities under all incentive plans (in US$, except shares):
|  |  |  | Weighted |
|  |  |  | average grant |
|  | Number of |  | date fair |
|  | Shares |  | value(US$) |
Restricted shares |  |  |  |  |
Unvested at December 31, 2014 |  | 1,058,608 |  | 158.55 |
Granted |  | 229,603 |  | 249.31 |
Vested |  | (271,683 | ) | 129.21 |
Forfeited |  | (151,120 | ) | 181.47 |
Unvested at December 31, 2015 |  | 865,408 |  | 185.17 |
Granted |  | 1,183,094 |  | 301.62 |
Vested |  | (492,825 | ) | 223.00 |
Forfeited |  | (93,438 | ) | 237.69 |
Unvested at December 31, 2016 |  | 1,462,239 |  | 263.28 |
Granted |  | 15,664 |  | 323.92 |
Vested |  | (285,375 | ) | 191.21 |
Forfeited |  | (96,806 | ) | 274.71 |
Unvested at December 31, 2017 |  | 1,095,722 |  | 281.91 |
Summary of components of other income |
|  | 2015 |  | 2016 |  | 2017 |
|  | RMB |  | RMB |  | RMB |
Gain on disposal of cost method investment (Note 8) |  | — |  | 149,066,258 |  | 1,374,462,407 |
Foreign exchange gains/(losses) |  | 12,638,982 |  | (557,995,284 | ) | 468,671,832 |
Subsidy income |  | 199,418,778 |  | 220,631,285 |  | 263,538,347 |
Gain on disposal of available-for-sale investment (Note 8) |  | — |  | 140,651,759 |  | 39,951,298 |
Dividends from long-term investment |  | — |  | 48,911,066 |  | 46,550,230 |
Gain on disposal of a subsidiary |  | — |  | — |  | 11,412,387 |
Gain on deconsolidation of subsidiaries |  | 2,294,451,702 |  | 252,000 |  | — |
Impairments of cost method investments |  | — |  | (11,628,980 | ) | (139,271,481 | )
Impairments of available-for-sale investments |  | — |  | (36,357,902 | ) | (271,707,804 | )
Provision/impairment for an equity method investment (Note 8 and Note 13) |  | — |  | — |  | (967,395,005 | )
Others |  | (25,529,632 | ) | 19,621,511 |  | 52,785,926 |
Total |  | 2,480,979,830 |  | (26,848,287 | ) | 878,998,137 |
Qunar |
Acquisitions disclosures |
Summary of fair value of acquisition cost |
|  | RMB |  | US$ |
Fair value of previously held equity interest (1) |  | 21,698,582,100 |  | 3,416,184,974 |
Consideration paid in December 2015 |  | 10,842,783,275 |  | 1,687,067,570 |
Total purchase cost |  | 32,541,365,375 |  | 5,103,252,544 |
| (1) |  | Which represents fair value of purchase consideration for the initial equity method investment in October 2015
Schedule of pro forma results |
In thousands |  | 2015 |
|  | RMB |
Pro-forma net revenues |  | 14,812,533 |
Pro-forma net loss |  | (5,086,934 | )

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