Core Insights - Tongcheng Travel reported a significant increase in annual paid users and service instances, reaching 253 million and over 2 billion respectively by the end of Q3 2025, marking a historical high [1] - The company achieved a revenue of 5.509 billion yuan in Q3 2025, reflecting a year-on-year growth of 10.4%, driven by the rising consumption potential of the mass tourism market [1][2] - The domestic tourism market continues to recover, with a notable trend towards diversified and experiential travel, supported by both outbound and inbound tourism growth [1][2] Revenue Growth - Transportation revenue grew by 9% year-on-year to 2.209 billion yuan, while accommodation revenue increased by 14.7% to 1.580 billion yuan in Q3 2025 [1] - The overall domestic travel expenditure reached 4.85 trillion yuan in the first three quarters of 2025, with rural residents' spending growing at a rate of 24%, significantly outpacing urban residents [2] Service Optimization - Tongcheng Travel launched the "First Flight Care" service targeting first-time flyers, which saw a more than 300% month-on-month increase in users in August [2] - The company enhanced user experience by integrating services like "Easy Security Check" into its WeChat mini-program and app, and established nearly 20 member service centers in various cities [2] Product Diversification - The company is expanding its product offerings and utilizing AI technology to provide personalized travel experiences, with its AI tool DeepTrip attracting millions of users [3] - The urban transportation service has expanded to cover over 100 cities, catering to everyday travel needs of regular travelers [2][3] Industry Transformation - The application of intelligent technology is accelerating changes in the tourism industry, with Tongcheng Travel forming strategic partnerships with over 20 airports to enhance the aviation supply chain [4] - The company is promoting digital upgrades in the accommodation sector through its platform, with nearly 3,000 hotels currently operational and 1,500 under construction [4] Strategic Acquisitions - Tongcheng Travel completed the acquisition of 100% equity in Wanda Hotel Management for 2.49 billion yuan, aiming to enhance its high-end brand offerings and align with its user base in lower-tier cities [5] - The CEO emphasized the ongoing growth potential in the mass tourism market and the commitment to enriching high-quality travel product offerings [5]

Core Insights - Tongcheng Travel reported a revenue of 5.509 billion yuan for Q3 2025, a year-on-year increase of 10.4%, and a net profit of 976 million yuan, up 23.1% year-on-year [2] - The company has seen significant growth in its user base, with annual paid users reaching 253 million and cumulative service users exceeding 2 billion, marking a historical high [2][4] Revenue Growth - Transportation business revenue grew by 9% to 2.209 billion yuan, while accommodation revenue increased by 14.7% to 1.580 billion yuan [2][4] - Other income segments saw a year-on-year increase of 34.9%, reaching 821 million yuan [5] User Engagement and Services - The number of annual paid users increased by 8.8%, and cumulative service users grew by 7.3% year-on-year [4][5] - The "First Flight Care" service saw a more than 300% increase in users in August 2025, covering 25 major airport cities [3] Market Trends - Non-first-tier cities are becoming the main drivers of tourism market growth, with rural residents' travel spending increasing by 24% year-on-year [3] - The overall domestic travel expenditure reached 4.85 trillion yuan in the first three quarters of 2025 [3] Strategic Partnerships and Innovations - Tongcheng Travel has established strategic partnerships with over 20 airports to enhance its service offerings and improve the travel experience [5] - The integration of AI technology has allowed for personalized travel experiences, with the AI tool DeepTrip attracting millions of users [4][5] CEO's Vision - The CEO emphasized the ongoing growth potential of the mass tourism market and the company's commitment to providing high-quality travel products while fostering sustainable industry development [6]

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]

Tongcheng Travel Holdings Limited Stock Code: 0780 Investor Presentation November 2025 Disclaimer The materials used in this investors presentation are being furnished to you for your information only, which shall be kept in strict confidence. No representation or warranty, express or implied, is made by Tongcheng Travel Holdings Limited (the "Company") or its connected person, or any of their respective directors, officers, employees, advisers or representatives as to, and no reliance should be placed on, ...

财报显示，截至2025年三季度末，同程旅行年付费用户达到2.53亿，年累计服务人次突破20亿，创历史 新高。 同程旅行还在酒店市场持续发力。截至2025年9月末，艺龙酒店科技平台运营酒店数量已增至近3000 家，另有1500家正在筹建。2025年三季度，同程旅行其他收入板块同比增长34.9%，达到8.21亿元。随 着对万达酒管的收购，同程旅行将进一步完善酒店管理业务版图。 （文章来源：北京商报） 11月25日，同程旅行发布2025年三季度业绩报告，报告期内，同程旅行实现营业收入55.09亿元，同比 增长10.4%。其中，交通业务收入同比增长9%，达22.09亿元；住宿业务收入实现14.7%的同比增长，达 15.8亿元。 ...

Core Insights - Tongcheng Travel reported a record high of 253 million annual paying users and over 2 billion cumulative service users by the end of Q3 2025, driven by the growing consumption potential of the general tourism market [1][4] - The company achieved a revenue of 5.509 billion yuan in Q3 2025, marking a year-on-year growth of 10.4%, with transportation and accommodation revenues growing by 9% and 14.7% respectively [1][4] - Tongcheng Travel's MSCI ESG rating improved to the highest level of AAA, placing it among the top 5% globally, reflecting its commitment to sustainable development [1][5][6] Revenue Growth - The revenue growth in Q3 2025 was significantly supported by the increasing travel expenditure of non-first-tier city residents, with domestic travel spending reaching 4.85 trillion yuan in the first three quarters of 2025 [2] - The transportation business revenue reached 2.209 billion yuan, while accommodation revenue was 1.58 billion yuan, both showing positive year-on-year growth [4] User Engagement and Services - The number of service users reached 2.019 billion, a year-on-year increase of 7.3%, and the daily active users of the Tongcheng Travel app hit a historical peak before the National Day holiday in 2025 [4] - The "First Flight Care" service saw a more than 300% increase in users in August 2025, indicating a strong demand for services catering to first-time flyers [2][3] Strategic Partnerships and Innovations - Tongcheng Travel has established strategic partnerships with over 20 airports, enhancing its service offerings and integrating airline and airport resources to improve travel convenience [5][6] - The company is leveraging AI technology to provide personalized travel experiences, with its AI tool DeepTrip attracting millions of users since its launch [3][6] Sustainable Development Initiatives - The "New Traveler Public Welfare Program 2.0" aims to empower small and medium-sized hotels through technology and marketing support, benefiting thousands of hotels [6] - Tongcheng Travel has been recognized for its sustainable practices, being included in the S&P Global Sustainable Development Yearbook for three consecutive years and receiving the "Best Progress in Industry" award [6]

Core Insights - Tongcheng Travel reported a revenue of 5.509 billion yuan for Q3 2025, marking a year-on-year growth of 10.4% [1] - The transportation segment generated 2.209 billion yuan, reflecting a 9% increase year-on-year, while the accommodation segment saw a 14.7% growth, reaching 1.58 billion yuan [1] - The number of annual paying users reached 253 million, with cumulative service users exceeding 2 billion, setting a new historical record [1] Revenue Breakdown - Transportation business revenue increased by 9%, totaling 2.209 billion yuan [1] - Accommodation business revenue grew by 14.7%, amounting to 1.58 billion yuan [1] - Other revenue segments experienced a significant growth of 34.9%, reaching 821 million yuan [1] Market Expansion - Tongcheng Travel is actively expanding in the hotel market, with the number of hotels operated on the Yilong hotel technology platform nearing 3,000, and an additional 1,500 hotels under construction [1] - The acquisition of Wanda Hotel Management will further enhance Tongcheng Travel's hotel management business portfolio [1]

Core Insights - Tongcheng Travel (00780) reported a significant increase in annual paid users, reaching 253 million, and cumulative service users exceeding 2 billion, marking a historical high [1] - The company achieved a revenue of 5.509 billion yuan in Q3 2025, reflecting a year-on-year growth of 10.4%, driven by the rising consumption potential of the mass tourism market [1] - Transportation business revenue grew by 9% year-on-year to 2.209 billion yuan, while accommodation business revenue saw a 14.7% increase to 1.580 billion yuan [1] Company Initiatives - Tongcheng Travel launched the "New Traveler Public Welfare Plan 2.0" aimed at helping industry partners achieve high-quality development [1] - The company has been recognized for three consecutive years in the S&P Global "Sustainability Yearbook (China Edition)" and received an "AAA" rating in the latest MSCI ESG assessment, placing it in the top 5% globally [1] Industry Outlook - The CEO of Tongcheng Travel, Ma Heping, emphasized the robust growth potential of the mass tourism market, indicating that this trend will continue to unfold in the future [1] - The company plans to enhance the supply of high-quality travel products to meet the demands of ordinary consumers while committing to long-term partnerships to foster a sustainable industry ecosystem [1]

Core Insights - Tongcheng Travel reported a revenue of 5.509 billion yuan for Q3 2025, marking a year-on-year growth of 10.4% [1] Revenue Breakdown - Transportation business revenue grew by 9% year-on-year, reaching 2.209 billion yuan [1] - Accommodation business revenue saw a year-on-year increase of 14.7%, totaling 1.580 billion yuan [1]

Core Insights - Tongcheng Travel (0780.HK) reported a significant increase in annual paid users, reaching 253 million, and cumulative service users exceeding 2 billion, marking a historical high [1] - The company achieved a revenue of 5.509 billion yuan in Q3 2025, reflecting a year-on-year growth of 10.4% [1] - The transportation segment saw a revenue increase of 9%, amounting to 2.209 billion yuan, while the accommodation segment experienced a 14.7% growth, reaching 1.580 billion yuan [1] Business Initiatives - Tongcheng Travel launched the "New Traveler Public Welfare Plan 2.0" aimed at assisting industry partners in achieving high-quality development [1] - The company has been recognized for three consecutive years in the S&P Global "Sustainability Yearbook (China Edition)" and received an "AAA" rating in the latest MSCI ESG assessment, placing it in the top 5% globally [1] Market Outlook - The CEO of Tongcheng Travel, Ma Heping, emphasized the robust growth potential of the mass tourism market, indicating that this growth will continue to be released in the future [1] - The company plans to enhance the supply of high-quality travel products to meet the demands of ordinary consumers while committing to long-term partnerships to foster a sustainable industry ecosystem [1]