Tuniu Announces Unaudited Third Quarter 2024 Financial Results

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$26.5 million), a year-over-year increase of 4.4$ 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$3.8 million), a decline of 5.1$ 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$17.4 million), reflecting a 6.1$ 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$1.9 million), while sales and marketing expenses surged by 53.0$ 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$185.8 million) [11]. Business Outlook - For Q4 2024, Tuniu expects net revenues between RMB 100.0 million and RMB 105.0 million, indicating a 0$ 10 million, with approximately 6.2 million ADSs repurchased for about US$ 5.6 million as of November 30, 2024 [13].