Core Insights - Tongcheng Travel reported a revenue increase of 10.4% year-on-year to 5.5091 billion yuan for the three months ending September 30, 2025, compared to 4.9915 billion yuan in the same period last year [1] - Adjusted EBITDA rose by 14.5% to 1.5103 billion yuan, with an adjusted EBITDA margin increasing to 27.4% from 26.4% year-on-year [1] - Adjusted net profit increased by 16.5% to 1.0602 billion yuan, with an adjusted net profit margin rising to 19.2% from 18.2% year-on-year [1] Revenue Breakdown - Accommodation business revenue grew by 14.7% year-on-year to 1.5795 billion yuan, driven by increased demand for high-quality hotels and enhanced brand recognition in lower-tier cities [3] - Transportation ticketing services revenue increased by 9.0% year-on-year to 2.2087 billion yuan, with rapid growth in international ticket sales and a balanced approach to subsidies and operational efficiency [3] - Other business revenue reached 820.6 million yuan, a 34.9% increase, primarily due to strong performance in hotel management [4] Strategic Developments - The number of hotels under the group's management platform grew to nearly 3,000, with an additional 1,500 hotels in preparation as of September 30, 2025 [4] - On October 16, 2025, Tongcheng Travel completed the acquisition of Wanda Hotel Management (Hong Kong) Co., Ltd., which operates 239 hotels and several high-end brands, accelerating the expansion of the company's hotel management business [4] User Metrics - Average monthly paying users increased by 2.8% year-on-year to 47.7 million, reaching a historical high [4] - Annual paying users rose by 8.8% year-on-year to 252.9 million, also a historical high [4] - Cumulative service users increased by 7.3% year-on-year to 2.0194 billion over the twelve months ending September 30, 2025 [4]

Tongcheng Travel Holdings Limited Stock Code: 0780 Investor Presentation November 2025 Disclaimer The materials used in this investors presentation are being furnished to you for your information only, which shall be kept in strict confidence. No representation or warranty, express or implied, is made by Tongcheng Travel Holdings Limited (the "Company") or its connected person, or any of their respective directors, officers, employees, advisers or representatives as to, and no reliance should be placed on, ...

财报显示，截至2025年三季度末，同程旅行年付费用户达到2.53亿，年累计服务人次突破20亿，创历史 新高。 同程旅行还在酒店市场持续发力。截至2025年9月末，艺龙酒店科技平台运营酒店数量已增至近3000 家，另有1500家正在筹建。2025年三季度，同程旅行其他收入板块同比增长34.9%，达到8.21亿元。随 着对万达酒管的收购，同程旅行将进一步完善酒店管理业务版图。 （文章来源：北京商报） 11月25日，同程旅行发布2025年三季度业绩报告，报告期内，同程旅行实现营业收入55.09亿元，同比 增长10.4%。其中，交通业务收入同比增长9%，达22.09亿元；住宿业务收入实现14.7%的同比增长，达 15.8亿元。 ...

Core Insights - Tongcheng Travel reported a record high of 253 million annual paying users and over 2 billion cumulative service users by the end of Q3 2025, driven by the growing consumption potential of the general tourism market [1][4] - The company achieved a revenue of 5.509 billion yuan in Q3 2025, marking a year-on-year growth of 10.4%, with transportation and accommodation revenues growing by 9% and 14.7% respectively [1][4] - Tongcheng Travel's MSCI ESG rating improved to the highest level of AAA, placing it among the top 5% globally, reflecting its commitment to sustainable development [1][5][6] Revenue Growth - The revenue growth in Q3 2025 was significantly supported by the increasing travel expenditure of non-first-tier city residents, with domestic travel spending reaching 4.85 trillion yuan in the first three quarters of 2025 [2] - The transportation business revenue reached 2.209 billion yuan, while accommodation revenue was 1.58 billion yuan, both showing positive year-on-year growth [4] User Engagement and Services - The number of service users reached 2.019 billion, a year-on-year increase of 7.3%, and the daily active users of the Tongcheng Travel app hit a historical peak before the National Day holiday in 2025 [4] - The "First Flight Care" service saw a more than 300% increase in users in August 2025, indicating a strong demand for services catering to first-time flyers [2][3] Strategic Partnerships and Innovations - Tongcheng Travel has established strategic partnerships with over 20 airports, enhancing its service offerings and integrating airline and airport resources to improve travel convenience [5][6] - The company is leveraging AI technology to provide personalized travel experiences, with its AI tool DeepTrip attracting millions of users since its launch [3][6] Sustainable Development Initiatives - The "New Traveler Public Welfare Program 2.0" aims to empower small and medium-sized hotels through technology and marketing support, benefiting thousands of hotels [6] - Tongcheng Travel has been recognized for its sustainable practices, being included in the S&P Global Sustainable Development Yearbook for three consecutive years and receiving the "Best Progress in Industry" award [6]

Core Insights - Tongcheng Travel reported a revenue of 5.509 billion yuan for Q3 2025, marking a year-on-year growth of 10.4% [1] - The transportation segment generated 2.209 billion yuan, reflecting a 9% increase year-on-year, while the accommodation segment saw a 14.7% growth, reaching 1.58 billion yuan [1] - The number of annual paying users reached 253 million, with cumulative service users exceeding 2 billion, setting a new historical record [1] Revenue Breakdown - Transportation business revenue increased by 9%, totaling 2.209 billion yuan [1] - Accommodation business revenue grew by 14.7%, amounting to 1.58 billion yuan [1] - Other revenue segments experienced a significant growth of 34.9%, reaching 821 million yuan [1] Market Expansion - Tongcheng Travel is actively expanding in the hotel market, with the number of hotels operated on the Yilong hotel technology platform nearing 3,000, and an additional 1,500 hotels under construction [1] - The acquisition of Wanda Hotel Management will further enhance Tongcheng Travel's hotel management business portfolio [1]

Core Insights - Tongcheng Travel (00780) reported a significant increase in annual paid users, reaching 253 million, and cumulative service users exceeding 2 billion, marking a historical high [1] - The company achieved a revenue of 5.509 billion yuan in Q3 2025, reflecting a year-on-year growth of 10.4%, driven by the rising consumption potential of the mass tourism market [1] - Transportation business revenue grew by 9% year-on-year to 2.209 billion yuan, while accommodation business revenue saw a 14.7% increase to 1.580 billion yuan [1] Company Initiatives - Tongcheng Travel launched the "New Traveler Public Welfare Plan 2.0" aimed at helping industry partners achieve high-quality development [1] - The company has been recognized for three consecutive years in the S&P Global "Sustainability Yearbook (China Edition)" and received an "AAA" rating in the latest MSCI ESG assessment, placing it in the top 5% globally [1] Industry Outlook - The CEO of Tongcheng Travel, Ma Heping, emphasized the robust growth potential of the mass tourism market, indicating that this trend will continue to unfold in the future [1] - The company plans to enhance the supply of high-quality travel products to meet the demands of ordinary consumers while committing to long-term partnerships to foster a sustainable industry ecosystem [1]

Core Insights - Tongcheng Travel reported a revenue of 5.509 billion yuan for Q3 2025, marking a year-on-year growth of 10.4% [1] Revenue Breakdown - Transportation business revenue grew by 9% year-on-year, reaching 2.209 billion yuan [1] - Accommodation business revenue saw a year-on-year increase of 14.7%, totaling 1.580 billion yuan [1]

Core Insights - Tongcheng Travel (0780.HK) reported a significant increase in annual paid users, reaching 253 million, and cumulative service users exceeding 2 billion, marking a historical high [1] - The company achieved a revenue of 5.509 billion yuan in Q3 2025, reflecting a year-on-year growth of 10.4% [1] - The transportation segment saw a revenue increase of 9%, amounting to 2.209 billion yuan, while the accommodation segment experienced a 14.7% growth, reaching 1.580 billion yuan [1] Business Initiatives - Tongcheng Travel launched the "New Traveler Public Welfare Plan 2.0" aimed at assisting industry partners in achieving high-quality development [1] - The company has been recognized for three consecutive years in the S&P Global "Sustainability Yearbook (China Edition)" and received an "AAA" rating in the latest MSCI ESG assessment, placing it in the top 5% globally [1] Market Outlook - The CEO of Tongcheng Travel, Ma Heping, emphasized the robust growth potential of the mass tourism market, indicating that this growth will continue to be released in the future [1] - The company plans to enhance the supply of high-quality travel products to meet the demands of ordinary consumers while committing to long-term partnerships to foster a sustainable industry ecosystem [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 董事名單與其角色和職能 同程旅行控股有限公司董事（「董事」）會（「董事會」）成員及其各自於董事會及董事 會委員會的角色及職能（自二零二五年十一月二十五日起生效）載列如下： | 董事會委員會 | | | | 環境、社會 | | --- | --- | --- | --- | --- | | | 審核 | 薪酬 | 提名 | 及管治 | | 董事 | 委員會 | 委員會 | 委員會 | 委員會 | | 執行董事 | | | | | | （聯席董事長） 吳志祥 | – | – | C | – | | （首席執行官） 馬和平 | – | – | – | – | | 非執行董事 | | | | | | 梁建章 | – | – | – | – | | 江浩 （聯席董事長） | – | – | – | – | | 謝晴華 | M | – | – | – | | Brent Richard Irvin | – | M ...

Financial Performance - Revenue increased by 10.4% year-on-year to RMB 5,509.1 million for the three months ended September 30, 2025, compared to RMB 4,991.5 million in the same period of 2024[3] - Adjusted EBITDA rose by 14.5% year-on-year to RMB 1,510.3 million, with an adjusted EBITDA margin increasing to 27.4% from 26.4%[3] - Adjusted net profit increased by 16.5% year-on-year to RMB 1,060.2 million, with an adjusted net profit margin rising to 19.2% from 18.2%[3] - Operating profit for the same period was RMB 1,163.2 million, compared to RMB 977.1 million in the previous year[18] - Basic earnings per share increased to RMB 0.42 from RMB 0.35 year-on-year[18] - Profit attributable to equity holders increased from RMB 793.2 million to RMB 976.0 million[35] - Net profit for the three months ended September 30, 2025, was RMB 985,248 thousand, representing a 22.7% increase from RMB 803,234 thousand in 2024[42] - The company reported a gross profit of RMB 3,621,835 thousand for the three months ended September 30, 2025, compared to RMB 3,164,675 thousand in 2024, reflecting a gross margin improvement[42] - The total comprehensive income for the three months ended September 30, 2025, was RMB 980,780 thousand, compared to RMB 788,482 thousand in 2024, indicating overall growth in profitability[44] User Metrics - Average monthly paying users reached a record high of 47.7 million, up 2.8% year-on-year from 46.4 million[3] - Annual paying users grew by 8.8% year-on-year to 252.9 million, also a record high[3] - Cumulative service users for the twelve months increased by 7.3% year-on-year to 2,019.4 million[3] Revenue Breakdown - Revenue from the core online travel platform rose by 14.9% from RMB 4,012.8 million to RMB 4,608.8 million during the same period[21] - Accommodation booking service revenue increased by 14.7% from RMB 1,377.5 million to RMB 1,579.5 million, driven by higher demand[21] - Transportation ticketing service revenue grew by 9.0% from RMB 2,026.8 million to RMB 2,208.7 million, attributed to increased demand for value-added products and services[21] - Other revenue surged by 34.9% from RMB 608.5 million to RMB 820.6 million, mainly due to growth in hotel management services and value-added products[22] - Vacation revenue decreased by 8.0% from RMB 978.7 million to RMB 900.3 million, primarily due to ongoing safety concerns in Southeast Asia[23] Expenses and Costs - Total sales costs increased by 3.3% from RMB 1,826.8 million to RMB 1,887.3 million, with the cost-to-revenue ratio decreasing from 36.5% to 34.2%[26] - Selling and marketing expenses rose by 16.9% from RMB 1,467.6 million to RMB 1,715.4 million, with the expense-to-revenue ratio increasing from 29.2% to 31.0%[28] - Income tax expenses increased from RMB 152.1 million to RMB 174.7 million due to higher taxable income[34] - The total expenses for sales and marketing for the three months ended September 30, 2025, were RMB 1,715,364 thousand, compared to RMB 1,467,569 thousand in 2024, indicating a rise in investment in marketing efforts[42] Assets and Liabilities - As of September 30, 2025, total assets amounted to RMB 40,987,208 thousand, an increase from RMB 37,777,196 thousand as of December 31, 2024, representing a growth of approximately 5.8%[45] - Total liabilities increased to RMB 17,604,498 thousand from RMB 16,814,889 thousand, reflecting a rise of about 4.7%[46] - The equity attributable to shareholders rose to RMB 22,384,995 thousand, up from RMB 20,001,471 thousand, marking an increase of approximately 11.9%[46] - Cash and cash equivalents decreased to RMB 5,786,558 thousand from RMB 8,019,963 thousand, a decline of about 28.8%[47] - The company had a total of 3,653,887 thousand in retained earnings as of September 30, 2025, compared to 1,751,576 thousand at the end of 2024, indicating significant profit retention[46] Strategic Initiatives - The company maintained a strong partnership with Tencent, leveraging the WeChat ecosystem as a key traffic channel[9] - The upgraded membership program includes enhanced benefits such as exclusive customer service and free cancellations, aimed at increasing user loyalty[10] - The company has intensified its marketing efforts on social media platforms to engage younger users and enhance brand exposure[9] - Strategic partnerships with airport management groups aim to enhance marketing and product innovation, particularly in air-rail intermodal products[14] Management and Governance - The company announced a change in the co-chairman of the board, with Jiang Hao appointed effective November 25, 2025, following the resignation of Liang Jianzhang[51] - The board of directors consists of the following members: Wu Zhixiang (Co-Chairman), Ma Heping (CEO), and independent non-executive directors Yang Jiahong, Dai Xiaojing, and Han Yuling[56] - Non-executive directors include Liang Jianzhang, Jiang Hao (Co-Chairman), and Xie Qinghua, along with Brent Richard Irvin[57] Audit and Compliance - The audit committee reviewed the financial performance for the three months ended September 30, 2025, ensuring compliance with relevant accounting standards[50]