Group 1 - The core viewpoint of the article highlights the strong performance of Tongcheng Travel in Q3 2025, with significant growth in user base and revenue [1][2] - Tongcheng Travel reported a total of 253 million annual paying users and over 2 billion cumulative service users, marking a historical high [1] - The company achieved a revenue of 5.509 billion yuan in Q3, representing a year-on-year growth of 10.4%, with transportation business revenue growing by 9% to 2.209 billion yuan and accommodation business revenue increasing by 14.7% to 1.580 billion yuan [1] Group 2 - Adjusted net profit for the company grew by 16.5% year-on-year to 1.06 billion yuan, with the adjusted net profit margin increasing from 18.2% to 19.2% [1] - The other income segment of Tongcheng Travel saw a remarkable growth of 34.9% year-on-year, reaching 821 million yuan, driven by strong performance in hotel management [1] - The company is expanding its hotel management business through the acquisition of Wanda Hotel Management, which operates 239 hotels and will enhance Tongcheng's market position [2] Group 3 - Despite overall growth, the vacation business of Tongcheng Travel experienced an 8.0% decline in Q3, with revenue of 900 million yuan, attributed to ongoing safety concerns regarding travel to Southeast Asia [2] - The resignation of Liang Jianzhang as co-chairman of the board due to personal reasons was announced, with Jiang Hao set to take over the position effective November 25, 2025 [2]