Core Insights - Tongcheng Travel reported a revenue increase of 10.4% year-on-year to 5.5091 billion yuan for the three months ending September 30, 2025, compared to 4.9915 billion yuan in the same period last year [1] - Adjusted EBITDA rose by 14.5% to 1.5103 billion yuan, with an adjusted EBITDA margin increasing to 27.4% from 26.4% year-on-year [1] - Adjusted net profit increased by 16.5% to 1.0602 billion yuan, with an adjusted net profit margin rising to 19.2% from 18.2% year-on-year [1] Revenue Breakdown - Accommodation business revenue grew by 14.7% year-on-year to 1.5795 billion yuan, driven by increased demand for high-quality hotels and enhanced brand recognition in lower-tier cities [3] - Transportation ticketing services revenue increased by 9.0% year-on-year to 2.2087 billion yuan, with rapid growth in international ticket sales and a balanced approach to subsidies and operational efficiency [3] - Other business revenue reached 820.6 million yuan, a 34.9% increase, primarily due to strong performance in hotel management [4] Strategic Developments - The number of hotels under the group's management platform grew to nearly 3,000, with an additional 1,500 hotels in preparation as of September 30, 2025 [4] - On October 16, 2025, Tongcheng Travel completed the acquisition of Wanda Hotel Management (Hong Kong) Co., Ltd., which operates 239 hotels and several high-end brands, accelerating the expansion of the company's hotel management business [4] User Metrics - Average monthly paying users increased by 2.8% year-on-year to 47.7 million, reaching a historical high [4] - Annual paying users rose by 8.8% year-on-year to 252.9 million, also a historical high [4] - Cumulative service users increased by 7.3% year-on-year to 2.0194 billion over the twelve months ending September 30, 2025 [4]
同程旅行三季度营收55亿元，年内累计服务人次超20亿