Core Viewpoint - Tongcheng Travel (00780) has seen a stock price increase of over 4%, currently trading at HKD 23.62, with a transaction volume of HKD 252 million, following the release of its 2026 Spring Festival travel trend report [1] Group 1: Travel Trends - The first peak of travel demand before the Spring Festival is expected around February 6, with the highest passenger flow anticipated on February 13 and 14 [1] - Domestic flight ticket prices have slightly increased compared to the same period last year during the Spring Festival [1] - Major departure cities for railway travel are concentrated in first-tier cities and regional hubs such as Guangzhou, Chongqing, and Beijing, while popular departure cities for civil aviation include Shanghai, Guangzhou, and Shenzhen [1] Group 2: Travel Demand Insights - The "longest Spring Festival holiday in history" has significantly boosted the demand for multiple trips during this year's Spring Festival, with the proportion of travelers taking more than two flights expected to reach 13%, and those using railways likely to exceed 30%, both marking new highs since 2023 [1] - The online travel penetration rate in the lower-tier markets, which Tongcheng Travel focuses on, has substantial growth potential, indicating a strong consumer demand [1] Group 3: Company Performance - The company is actively expanding its traffic through multiple channels, including its app, and is deeply exploring consumer demand to enhance user value [1] - Recent quarterly metrics show a continuous increase in MPU (Monthly Active Users) and average revenue per user, with Q3 2025 figures reflecting growth of 3% and 12% respectively, indicating a trend of simultaneous growth in volume and price [1]
港股异动 | 同程旅行(00780)尾盘涨超4% 26年春运需求显著上升 公司有望把握在线旅游下沉市场增长红利