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].
Tuniu Announces Unaudited Fourth Quarter and Fiscal Year 2024 Financial Results and Cash Dividend