
Core Viewpoint - Tuniu's second quarter of 2025 shows a steady revenue growth of 15.3% year-on-year, with a focus on enhancing supply chain integration and digital technology to improve customer experience and operational efficiency [5][6]. Financial Performance - The net revenue for Q2 2025 was 134.9 million RMB (approximately 18.8 million USD), representing a 15.3% increase compared to the same period in 2024 [2][5]. - Packaged travel product revenue reached 113.4 million RMB (approximately 15.8 million USD), marking a significant growth of 26.3% year-on-year [2][5]. - Other income for Q2 2025 was 21.5 million RMB (approximately 3 million USD), which is a decline of 21.0% compared to the previous year [3]. Cost and Profitability - Operating costs for Q2 2025 amounted to 48.9 million RMB (approximately 6.8 million USD), an increase of 50.2% year-on-year, with operating costs accounting for 36.2% of net revenue [3][4]. - Gross profit for the quarter was 86 million RMB (approximately 12 million USD), reflecting a slight increase of 1.9% year-on-year [4]. - Operating expenses rose to 78.9 million RMB (approximately 11 million USD), up 58.0% from the previous year, primarily due to the absence of a one-time gain from subsidiary disposal in 2024 [4]. Net Profit - The net profit for Q2 2025 was 14.1 million RMB (approximately 2 million USD), a significant decrease from 43 million RMB in the same quarter of 2024 [5]. - Adjusted net profit under non-GAAP was 16.1 million RMB (approximately 2.2 million USD) for the quarter [5]. Cash Position - As of June 30, 2025, the company held cash and cash equivalents, restricted cash, short-term investments, and long-term deposits totaling 1.2 billion RMB (approximately 172 million USD) [5]. Future Outlook - Tuniu expects Q3 2025 net revenue to be between 199 million and 208.3 million RMB, indicating a year-on-year growth of 7% to 12% [6]. Share Buyback Update - The company has initiated a stock repurchase plan allowing for the buyback of up to 10 million USD worth of ordinary shares, with approximately 10.6 million ADS repurchased for about 9.9 million USD as of July 31, 2025 [7].