Core Viewpoint - Tongcheng Travel (00780) reported strong financial results for the first half of 2025, leading to a stock price increase of over 7% following the earnings announcement [1] Financial Performance - In the first half of 2025, Tongcheng Travel achieved revenue of 9.05 billion yuan, representing a year-on-year growth of 11.5% [1] - Adjusted EBITDA for the same period was 2.34 billion yuan, showing a significant increase of 35.2% year-on-year [1] - The adjusted net profit reached 1.56 billion yuan [1] Revenue Breakdown - Other income, including online vacation services, amounted to 1.36 billion yuan, reflecting a year-on-year growth of 24.1% [1] Quarterly Performance - In Q2, Tongcheng Travel's revenue was 4.7 billion yuan, which is a 10.0% increase compared to the previous year, slightly exceeding the expected 4.6 billion yuan by approximately 0.7% [1] - Operating profit for Q2 was 810 million yuan, surpassing expectations by 11.4% [1] - The adjusted net profit for the quarter was 770 million yuan, exceeding expectations by 3.3% [1] Strategic Focus - The company is focusing on three strategic directions: enhancing user value, expanding outbound tourism business, and hotel management business expansion, which may lead to long-term revenue growth and stable profit release [1]
同程旅行绩后涨超7% 二季度收入符合预期 核心OTA利润率持续上行