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]

Core Insights - Tuniu Corporation has signed a Letter of Intent with the Tourism Authority of Thailand to enhance collaboration in promoting travel experiences for Chinese tourists [1][2][3] - The number of Tuniu's packaged tours to Thailand has increased by over 160% year-over-year from January to July 2024, indicating a strong demand for travel to Thailand among Chinese tourists [2] - The partnership aims to provide more diversified products and services to boost the development of Thai tourism and support Thailand's digital economy [2][3] Company Overview - Tuniu is a leading online leisure travel company in China, offering a wide range of travel services including organized and self-guided tours through its online platform [4] - The company focuses on providing a compelling customer experience with a dedicated team of customer service representatives and a network of offline retail stores [4]

Core Viewpoint - Tuniu Corporation has received a notification from Nasdaq regarding its American depositary shares (ADSs) trading below the minimum bid price requirement, with a compliance period of 180 days to regain compliance [1][2]. Group 1: Nasdaq Notification - Tuniu's ADSs have been below the minimum bid price of US$1.00 for 31 consecutive business days as of August 6, 2024 [1]. - The company has until February 3, 2025, to regain compliance with the Nasdaq Listing Rules [2]. - If the closing bid price reaches US$1.00 or higher for ten consecutive business days during the compliance period, Nasdaq will confirm compliance [2]. Group 2: Company Operations - The Nasdaq notification will not affect Tuniu's business operations, and the company plans to take reasonable measures to regain compliance [2]. - Tuniu is a leading online leisure travel company in China, offering a wide range of travel services, including packaged tours and travel-related services through its online platform [3].

Financial Data and Key Metrics Changes - In Q2 2024, net revenues were CNY 116.9 million, a year-over-year increase of 17% from Q2 2023 [15] - Net income reached a quarterly record high of CNY 43 million, marking significant profitability improvement [6][18] - Gross profit for the quarter was CNY 84.4 million, up 29% year-over-year [16] Business Line Data and Key Metrics Changes - Revenue from packaged tours increased by 29% year-over-year to CNY 89.8 million, accounting for 77% of total net revenues [15] - Other revenues decreased by 10% year-over-year to CNY 27.2 million, representing 23% of total net revenues, primarily due to reduced commission fees from other travel-related products [15] Market Data and Key Metrics Changes - Domestic tourism accounted for approximately 70% of total GMV in Q2 2024, while outbound tourism comprised a bit more than 30%, up from less than 30% in the previous quarter [21] - Japan emerged as a top outbound destination due to pent-up demand and favorable exchange rates, while Europe became the leading long-distance outbound destination [22] Company Strategy and Development Direction - The company focuses on enhancing product offerings and customer experience, particularly through new tour products aimed at middle-to-upper class customers [7][8] - Tuniu is adapting to changing consumer behavior by expanding live streaming channels and new media marketing strategies [11][12] Management Comments on Operating Environment and Future Outlook - Management noted that the domestic travel market remains strong, with high enthusiasm for travel, while outbound travel is expected to grow steadily despite a lower growth rate compared to the previous year [21][24] - For Q3 2024, the company anticipates net revenues between CNY 183.5 million and CNY 192.4 million, reflecting a 3% to 8% year-over-year increase [18] Other Important Information - The company reported cash and cash equivalents of CNY 1.3 billion as of June 30, 2024, with cash flow from operations at CNY 105.3 million for the quarter [18] Q&A Session Summary Question: What are the proportions of domestic and outbound tourism in revenues, and what are the trends for the summer market? - Domestic tourism comprised about 70% of total GMV, while outbound tourism was slightly over 30%, with steady growth in domestic travel and high year-over-year growth in outbound travel [21] - Trends indicate a shift towards more self-guided tours and flexible products in the domestic market, with outbound travel expected to see a gradual increase [23][24]

Core Viewpoint - Tuniu Corporation reported strong financial results for the second quarter of 2024, highlighting significant growth in revenues and profitability, particularly in its core packaged tours business, which increased by 28.6% year-over-year [2][3][4]. Financial Performance - Net revenues for the second quarter of 2024 reached RMB116.9 million (US$16.1 million), marking a 17.0% increase compared to the same period in 2023 [4]. - Revenues from packaged tours amounted to RMB89.8 million (US$12.4 million), reflecting a year-over-year growth of 28.6% primarily driven by organized tours [4][5]. - Gross profit increased by 29.1% year-over-year to RMB84.4 million (US$11.6 million) [2][5]. - Income from operations was RMB34.5 million (US$4.7 million), a significant rise from RMB6.8 million in the second quarter of 2023 [7][8]. - Net income reached RMB43.0 million (US$5.9 million), compared to a mere RMB0.2 million in the same quarter of the previous year [7][8]. Cost Management - Cost of revenues decreased by 5.8% year-over-year to RMB32.5 million (US$4.5 million), resulting in a cost of revenues as a percentage of net revenues of 27.8%, down from 34.6% in the prior year [5]. - Operating expenses were reduced by 14.9% year-over-year to RMB49.9 million (US$6.9 million) [5][6]. Investment and Shareholder Value - The company has authorized a share repurchase program of up to US$10 million, with approximately US$4.1 million worth of shares repurchased as of July 31, 2024 [10]. - Tuniu expects to generate net revenues of RMB183.5 million to RMB192.4 million in the third quarter of 2024, indicating a year-over-year increase of 3% to 8% [10]. Strategic Focus - Tuniu continues to enhance product quality and offerings while adapting to changes in user shopping habits through strengthened new media operations [3]. - The company aims to provide better services and travel experiences to attract new customers and drive business growth [3].

NANJING, China, July 23, 2024 /PRNewswire/ -- Tuniu Corporation (NASDAQ:TOUR) ("Tuniu" or the "Company"), a leading online leisure travel company in China, today announced that it plans to release its unaudited financial results for the second quarter ended June 30, 2024, before the market opens on August 6, 2024.Tuniu's management will hold an earnings conference call at 8:00 am U.S. Eastern Time on August 6, 2024 (8:00 pm Beijing/Hong Kong Time on August 6, 2024).Listeners may access the call by dialing t ...

Core Points - Tuniu Corporation has regained compliance with the Nasdaq Minimum Bid Price Requirement after its American depositary shares (ADSs) closed at $1.00 or greater for 10 consecutive business days from May 20 to June 3, 2024 [1][2] - The company received a Compliance Notice from Nasdaq on June 5, 2024, confirming that the matter is now closed [1][2] Company Overview - Tuniu is a leading online leisure travel company in China, offering a wide range of travel services including packaged tours and travel-related services through its website and mobile platform [3] - The company provides integrated travel solutions and aims to enhance customer experience through a combination of online and offline services, including a dedicated customer service team and a network of retail stores [3]