Financial Performance - The company reported net losses of RMB203.0 million, RMB101.1 million, and net income of RMB83.7 million (US$11.5 million) for the years ended December 31, 2022, 2023, and 2024, respectively [468]. - The company’s accumulated deficit was RMB8,050 million (US$1,103 million) as of December 31, 2024 [468]. - The market capitalization of the company dropped to US$83.1 million by the end of 2023, which was 47% lower than its net assets of RMB1,112 million [500]. - A full impairment charge of RMB114.7 million for the remaining goodwill was recorded in Q4 2023, reducing the carrying value of goodwill to nil [500]. - The company has not paid dividends to shareholders as its PRC subsidiaries have incurred losses and have not generated accumulated profits [485]. Cash Flow and Liquidity - Net cash provided by operating activities was RMB96.3 million (US$13.2 million) in 2024, primarily from cash inflows of RMB3,721.7 million (US$509.9 million) from travel product sales [470]. - Cash and cash equivalents, restricted cash, and short-term investments were RMB923.9 million (US$126.6 million) as of December 31, 2024 [466]. - The company had net cash used in financing activities of RMB74.0 million (US$10.1 million) in 2024, primarily due to repayments of borrowings [476]. - The company intends to fund its material cash requirements for at least the next twelve months using its existing cash balance [482]. Customer Advances and Borrowings - Advances from customers increased from RMB98.9 million as of December 31, 2022 to RMB270.2 million as of December 31, 2023, and further increased to RMB247.2 million (US$33.9 million) as of December 31, 2024 [465]. - The company had outstanding short-term borrowings of RMB7.3 million and RMB0.04 million (US$0.01 million) as of December 31, 2023 and 2024, respectively [467]. Expenses and Investments - The company’s sales and marketing expenses increased from RMB103.6 million in 2022 to RMB180.3 million (US$24.7 million) in 2024, primarily due to increased promotion and marketing personnel expenses [465]. - Research and product development expenses decreased from RMB57.0 million in 2023 to RMB52.7 million (US$7.2 million) in 2024, primarily due to a reduction in personnel-related expenses [487]. - The carrying value of the land use right and construction in progress was RMB99.5 million as of December 31, 2024, with impairment charges of RMB15.6 million recorded for the year [502]. Technology and Infrastructure - The company’s technology infrastructure is built on proprietary and licensed technologies, focusing on website operations and data analytics [486]. - No impairment of non-financial assets for the core business was recognized during the year ended December 31, 2024, as the undiscounted cash flow exceeded the carrying value [503]. Regulatory and Accounting Matters - The company’s PRC subsidiaries are required to set aside at least 10% of their accumulated profits for statutory reserve funds, which they have not started contributing to due to losses [485]. - The company adopted ASC Topic 326 for credit loss measurement, recording a net decrease to retained earnings of RMB19.4 million upon adoption [505]. Foreign Currency Translation - For the year ended December 31, 2024, the company recorded a net foreign currency translation gain of RMB8.0 million (US$1.1 million) in accumulated other comprehensive income [461]. Share Price and Market Sentiment - The company’s share price fluctuated, reaching US$0.67 per ADS as of December 31, 2023, reflecting negative market sentiment [500].

Financial Data and Key Metrics Changes - In 2024, the company achieved its first GAAP profit for the full year since its listing, with non-GAAP net income growing over 70% year-over-year, reaching a record high since the IPO [6][7] - For Q4 2024, net revenues were RMB102.7 million, a 3% year-over-year increase, while full-year net revenues were RMB513.6 million, representing a 16% year-over-year increase [27][33] - Gross profit for Q4 2024 was RMB69.8 million, down 6% year-over-year, while full-year gross profit was RMB358 million, up 22% year-over-year [29][34] - Net loss attributable to ordinary shareholders in Q4 2024 was RMB24.2 million, while full-year net income was RMB77.2 million [31][35] Business Line Data and Key Metrics Changes - Revenues from packaged tours in Q4 2024 were RMB75.4 million, up 3% year-over-year, and accounted for 73% of total net revenues [27] - For the full year, revenues from packaged tours increased by 22% year-over-year to RMB407.5 million, accounting for 79% of total net revenues [33] - Other revenues in Q4 2024 were RMB27.3 million, also up 3% year-over-year, primarily due to increased advertising service fees [28] Market Data and Key Metrics Changes - The transaction volume for Niu Tour products grew by over 30% year-over-year in 2024, with a repurchase rate twice that of regular products [15][16] - In 2024, transaction volume from cities outside Tier 1 cities contributed more than 50% of Tuniu's total transaction volume [16] - The live streaming channels saw transactions and verification volume increase by over 100% year-over-year [20] Company Strategy and Development Direction - The company plans to focus on product and service upgrades, channel expansion, and technological advancement in 2025 [24][25] - Tuniu aims to leverage AI technology to enhance user experience and operational efficiency [23][43] - The company will continue to expand its offline store presence, potentially doubling the number of stores nationwide [42] Management Comments on Operating Environment and Future Outlook - Management noted that the total travel market will continue to grow, but competition will intensify in terms of quality and price [40] - The company aims for a profitable year in 2025, despite expected impacts on gross profit margins due to competitive pricing strategies [41][46] - Seasonal variations in quarterly performance are anticipated, with the third quarter expected to contribute the majority of annual profit [46] Other Important Information - The Board of Directors approved a special cash dividend of approximately $4.2 million in March 2025 [7] - The company has spent over $6.2 million on share buybacks throughout 2024, returning approximately $10 million to shareholders [8] Q&A Session Summary Question: Can you share your projections for 2025 revenue and profit? What are the key drivers for revenue growth? - Management indicated that the total travel market will grow, and they will adopt a high-quality business development strategy to exceed industry average growth rates [40] - They plan to invest in product upgrades and innovation, particularly for Niu Tour products, while maintaining competitive pricing [41] Question: Will you maintain quarterly or yearly profitability? - Management expressed confidence in achieving profitability in 2025, although quarterly performance may vary due to seasonality [46]

Core Viewpoint - Tuniu Corporation reported significant financial improvements in 2024, achieving its first full-year GAAP profit since its Nasdaq listing, with a focus on innovation and high-quality development for the future [3][11][18]. Financial Highlights for Fiscal Year 2024 - Net revenues increased by 16.4% year-over-year to RMB513.6 million (US$70.4 million) [11]. - Gross profit rose by 21.9% year-over-year to RMB358.0 million (US$49.1 million) [12]. - Operating expenses decreased by 25.5% year-over-year to RMB294.8 million (US$40.4 million) [13]. - Net income was RMB83.7 million (US$11.5 million), compared to a net loss of RMB101.1 million in 2023 [18]. Fourth Quarter 2024 Results - Net revenues for Q4 2024 were RMB102.7 million (US$14.1 million), a 2.8% increase from Q4 2023 [4]. - Cost of revenues increased by 30.1% year-over-year to RMB32.9 million (US$4.5 million), representing 32.1% of net revenues [5]. - Gross profit for Q4 2024 was RMB69.8 million (US$9.6 million), a decrease of 6.5% year-over-year [5]. - Operating expenses decreased by 58.3% year-over-year to RMB82.5 million (US$11.3 million) [6]. - Net loss narrowed to RMB25.1 million (US$3.4 million) from RMB132.9 million in Q4 2023 [8]. Revenue Breakdown - Revenues from packaged tours in 2024 increased by 22.2% year-over-year to RMB407.5 million (US$55.8 million) [14]. - Other revenues in 2024 were RMB106.2 million (US$14.5 million), a decrease of 1.6% from 2023 [16]. Business Outlook - For Q1 2025, Tuniu expects net revenues between RMB116.6 million and RMB122.0 million, reflecting an 8% to 13% year-over-year increase [20]. Shareholder Actions - The Board of Directors approved a cash dividend of US$0.012 per ordinary share, totaling approximately US$4.2 million, payable in April 2025 [22]. - As of February 28, 2025, Tuniu repurchased approximately 7.9 million ADSs for about US$7.3 million under its share repurchase program [21].

Core Viewpoint - Tuniu Corporation plans to release its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024, on March 14, 2025, before market opens [1]. Group 1: Financial Results Announcement - The earnings conference call will take place at 8:00 am U.S. Eastern Time on March 14, 2025 [1]. - The call will be accessible via multiple dialing options for listeners in the US, Hong Kong, Mainland China, and internationally [2]. - A telephone replay of the conference call will be available for one hour after the call ends, lasting until March 21, 2025 [2]. Group 2: Company Overview - Tuniu Corporation is a leading online leisure travel company in China, offering a wide range of integrated travel services, including packaged tours and travel-related services [3]. - The company provides a one-stop leisure travel solution through its online platform and offline service network, which includes customer service representatives and retail stores [3].

Tuniu Corporation (NASDAQ:TOUR) Q3 2024 Earnings Conference Call December 5, 2024 8:00 AM ET Company Participants Mary Chen - Director of Investor Relations Donald Yu - Founder, Chairman and Chief Executive Officer Anqiang Chen - Financial Controller Operator Hello and thank you for standing by for Tuniu's 2024 Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After managements' prepared remarks, there will be a question-and- answer session. With GAAP net inco ...

Core Viewpoint - Tuniu Corporation reported profitable growth in Q3 2024, achieving its highest quarterly profit since its listing, driven by steady growth in its core packaged tours business and an expansion of product offerings to meet diverse consumer demands [2][3]. Financial Performance - Net revenues for Q3 2024 were RMB 186.0 million (US$ 26.5 million), a year-over-year increase of 4.4% compared to Q3 2023 [3]. - Revenues from packaged tours reached RMB 159.3 million (US$ 22.7 million), marking a 6.2% increase year-over-year, primarily due to growth in organized tours [4]. - Other revenues decreased to RMB 26.7 million (US$ 3.8 million), a decline of 5.1% year-over-year, attributed to reduced advertising service fees [4]. Cost and Profitability - Cost of revenues was RMB 64.2 million (US$ 9.2 million), up 1.2% year-over-year, with the cost as a percentage of net revenues decreasing to 34.5% from 35.6% [5]. - Gross profit for the quarter was RMB 121.8 million (US$ 17.4 million), reflecting a 6.1% increase year-over-year [5]. Operating Expenses - Operating expenses totaled RMB 92.6 million (US$ 13.2 million), an increase of 11.5% year-over-year [6]. - Research and product development expenses decreased by 25.9% to RMB 13.6 million (US$ 1.9 million), while sales and marketing expenses surged by 53.0% to RMB 60.6 million (US$ 8.6 million) [7]. - General and administrative expenses fell by 31.3% to RMB 18.6 million (US$ 2.7 million) [7]. Income and Earnings - Income from operations was RMB 29.2 million (US$ 4.2 million), down from RMB 31.7 million in Q3 2023 [8]. - Net income increased to RMB 43.9 million (US$ 6.3 million) from RMB 39.1 million in the same quarter last year [9]. - Net income attributable to ordinary shareholders was RMB 44.4 million (US$ 6.3 million), compared to RMB 39.4 million in Q3 2023 [10]. Cash Position - As of September 30, 2024, Tuniu had cash and cash equivalents, restricted cash, and short-term investments totaling RMB 1.3 billion (US$ 185.8 million) [11]. Business Outlook - For Q4 2024, Tuniu expects net revenues between RMB 100.0 million and RMB 105.0 million, indicating a 0% to 5% year-over-year increase [12]. Share Repurchase Program - The Board of Directors authorized a share repurchase program of up to US$ 10 million, with approximately 6.2 million ADSs repurchased for about US$ 5.6 million as of November 30, 2024 [13].

Group 1 - Tuniu Corporation plans to release its unaudited financial results for the third quarter ended September 30, 2024, before the market opens on December 5, 2024 [1] - An earnings conference call will be held at 8:00 am U.S. Eastern Time on December 5, 2024 [1] - The company provides a range of travel services, including packaged tours and travel-related services, through its online platform and offline service network [3] Group 2 - Tuniu offers a one-stop leisure travel solution with a dedicated team of customer service representatives and 24/7 call centers [3] - The company operates extensive networks of offline retail stores and self-operated local tour operators [3] - A live and archived webcast of the conference call will be available on Tuniu's investor relations website [2]

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Core Insights - Crown Royal hosted an exclusive celebration honoring military veterans, featuring Kane Brown's performance, emphasizing the brand's commitment to the military community [1][2] - The partnership with Kane Brown highlights Crown Royal's dedication to supporting veteran-focused charities like CreatiVets, which has aided over 1 million servicemen and women [2] Company Overview - Crown Royal is the number-one selling Canadian whisky brand globally, known for its smooth and elegant flavor, and has a rich history dating back to 1939 [3] - The brand is part of Diageo, a global leader in beverage alcohol with a diverse portfolio of brands sold in over 180 countries [4] Charity Initiatives - CreatiVets, a non-profit organization, uses art and creative writing to help wounded veterans heal from post-traumatic stress and traumatic brain injury [5] - Crown Royal's initiatives reflect a broader commitment to living generously and supporting organizations that empower veterans [2][5]

NANJING, China, Sept. 3, 2024 /PRNewswire/ -- Tuniu Corporation (Nasdaq: TOUR) ("Tuniu" or the "Company"), a leading online leisure travel company in China, today announced that the Tourism Authority of Thailand ("TAT") and the Company have signed a Letter of Intent ("LOI") at the TAT head office in Bangkok on August 30, 2024. Ms. Thapanee Kiatphaibool, TAT Governor, signed the agreement with Mr. Donald Yu, Tuniu's founder, Chairman and Chief Executive Officer, in the presence of Ms. Chang Yumeng, Counsello ...