Baidu founder Li Yanhong resigned as director of Ctrip Group

China ’s largest online travel agency Ctrip Group issued an announcement on the Hong Kong Stock Exchange on Thursday (July 20) that Li Yanhong, the founder of Chinese Internet giant company Baidu, has resigned as a director of the company and immediately took effect.

According to the announcement, after Li Yanhong resigned, Ctrip's board of directors consisted of eight directors, including four independent directors.The remaining eight directors will continue to provide services to the company's board of directors.

On the date of the announcement, Ctrip's board of directors includes Liang Jianzhang, executive chairman of the board of directors, Fan Min, vice chairman and president of the board of directors, Sun Jie and He Junjie, CEO, and independent directors Shen Nanpeng, Ji Qi, Li Jipei and Gan Jianping.

Public information shows that in October 2015, where the Ctrip was merged with Qunar. The form of this merger was where Baidu was sold, and then controlled Ctrip.After the transaction is completed, Baidu has a total of 25%of Ctrip's total voting rights, and Ctrip has about 45%of the total voting rights.

Ctrip Group officially listed on the Hong Kong Stock Exchange on April 19, 2021.According to reports, Li Yanhong has been a director of Ctrip Group since October 2015, which has been nearly eight years.According to the data of Tianyan, Baidu is still the largest shareholder of Ctrip Group, holding more than 10.7%of the shareholding.

According to the Daily Economic News report, Baidu recently planned to reduce its holdings of 474,500 Ctrip shares and cash about HK $ 170 million (the same below, about 29 million yuan).

The first quarter of the 2023 financial report released by Ctrip Group showed that the company's revenue in the first quarter of this year was 9.198 billion yuan (RMB, the same below, about 1.702 billion yuan), a year -on -year increase of 123.85%; net profit of 3.375 billion yuanYuan, a year -on -year increase of 441.25%.As of July 20, Ctrip Group's stock price was reported at HK $ 288.2, with a total market value of about 197 billion Hong Kong dollars.