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]

Financial Data and Key Metrics - Net revenues increased by 71% year-over-year to RMB108 million in Q1 2024, driven by the recovery of the travel market [6][16] - Revenues from packaged tours grew by 107% year-over-year to RMB83 million, accounting for 77% of total net revenues [16] - Gross profit increased by 111% year-over-year to RMB82 million, marking the first GAAP profitability in Q1 since listing [7][17] - Net income attributable to ordinary shareholders was RMB13.9 million, with non-GAAP net income at RMB19.7 million [18] - Cash and cash equivalents, restricted cash, and short-term investments totaled RMB1.2 billion as of March 30, 2024 [19] Business Line Performance - GMV of new tour products grew by over 60% compared to the previous quarter, driven by high-quality in-house products [8] - Loyal customers contributed over 65% to total transaction volume in Q1, reflecting strong brand loyalty [8] - Live streaming channels achieved a 200% year-over-year increase in total payment volume, with verification volume growing by 400% [11] - Offline stores saw transaction volume increase by over 200% year-over-year, with approximately 200 stores operational [13] Market Performance - Outbound travel products transaction volume increased by over 200% year-over-year during the Labor Day holiday [6] - Domestic tours accounted for 70% of GMV, while outbound tours increased to 30% of GMV in Q1 [24] - APAC countries were popular destinations due to short distances, warm weather, and visa-free policies [23] Strategic Direction and Industry Competition - The company focused on enhancing in-house products, aiming to increase their proportion in packaged tours [7] - Centralized procurement strategy lowered resource costs, improving product competitiveness [10] - The company strengthened its live streaming network with over 60 in-house accounts and collaborated with 1,000 influencers [13] - Automation technology was leveraged to refine management processes and improve operational efficiency [14] Management Commentary on Operating Environment and Future Outlook - The travel industry in China continued its healthy development trend, with robust growth in the outbound travel market [6] - The company expects net revenues for Q2 2024 to be between RMB114.9 million and RMB119.9 million, representing a 15% to 20% year-over-year increase [19] - The summer vacation is expected to drive significant growth, particularly in outbound travel, with strong demand for packaged tours to Japan [24] Other Important Information - Operating expenses as a percentage of net revenues dropped by 20 percentage points year-over-year [14] - Sales and marketing expenses increased by 84% year-over-year due to higher promotion and personnel-related costs [17] - General and administrative expenses decreased by 8% year-over-year, primarily due to the reversal of allowance for doubtful accounts [18] Q&A Session Question: Performance in outbound and domestic tourism, and outlook for the summer vacation - Domestic tours experienced double-digit growth year-over-year, while outbound travel increased multi-fold due to improved supply and more destination options [23] - Domestic tours accounted for 70% of GMV, and outbound tours increased to 30% of GMV in Q1 [24] - The summer vacation is expected to see significant growth in outbound travel, with strong demand for packaged tours to Japan [24] Question: Profitability outlook for Q2 2024 - The company expects net revenue growth to slow in Q2 due to a higher base in the previous year, but packaged tours will grow faster than total revenues [25] - Gross margin improved to over 70%, driven by a focus on profitable products and cost control measures [25] - The company aims to achieve continuous profitability through strict expense control [25]

NANJING, China, June 4, 2024 /PRNewswire/ -- Tuniu Corporation (NASDAQ: TOUR) ("Tuniu" or the "Company"), a leading online leisure travel company in China, today announced its unaudited financial results for the first quarter ended March 31, 2024.Highlights for the First Quarter of 2024 Net revenues in the first quarter of 2024 increased by 70.9% year-over-year to RMB108.0 million (US$15.0 million[1]).Revenues from package tours in the first quarter of 2024 increased by 106.7% year-over-year to RMB83.0 mill ...

NANJING, China, May 20, 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 first quarter ended March 31, 2024, before the market opens on June 4, 2024.Tuniu's management will hold an earnings conference call at 8:00 am U.S. Eastern Time on June 4, 2024 (8:00 pm Beijing/Hong Kong Time on June 4, 2024).Listeners may access the call by dialing the foll ...