Tongcheng Travel Holdings Limited Stock Code: 0780 Investor Presentation August 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, th ...

Core Insights - The ITB China Tourism Trends Report aims to provide strategic decision-makers with first-hand information on the latest trends in the Chinese tourism market, helping them adjust their operations in a rapidly changing environment [1][11] - The global tourism industry has entered a new growth phase post-pandemic, with the Asia-Pacific region's growth rate surpassing the global average, driven by strong demand from the Chinese market [1][2] Global Tourism Overview 2024 - In 2024, global inbound and domestic tourism numbers are expected to reach new highs, with international overnight visitors around 1.5 billion, a slight increase from 2019; inbound visitor nights will reach 6.9 billion, up 5% from 2019; and inbound tourist spending will hit $1.6 trillion, a year-on-year increase of 11% [2][16] Chinese Outbound Tourism Market 2024-25 - The Chinese outbound tourism market is recovering significantly in 2024, with a total of 145 million outbound trips and a spending of 5.75 trillion RMB, reflecting a 17% year-on-year growth [19] - Data from Ctrip indicates that demand for outbound travel is particularly strong in Q4 2024, with hotel and flight bookings exceeding 20% compared to the same period in 2019 [19] - A survey shows that 74% of respondents expect their outbound business in 2025 to surpass that of 2024 [19] Evolving Market Dynamics - The profile of Chinese outbound tourists is evolving, with a growing preference for authentic local experiences and heightened concern for safety during travel [4][27] - The shift from traditional group tours to independent travel is evident, with a significant decline in group travel participation [6][30] Emerging Trends - The demand for diverse travel experiences is prompting tourism service providers to expand their product offerings, with 120 new cities for ticket purchases reported in 2024 compared to 2019 [5][29] - The trend towards personalized travel experiences is growing, with 82% of respondents indicating they have started offering customized services in their overseas destination businesses [7][32] Silver Economy Opportunities - By the end of 2024, the population aged 60 and above in China is projected to reach 310 million, accounting for 22% of the total population, presenting significant economic potential [8][36] - The silver tourism market is expected to exceed 1 trillion RMB by 2025, driven by over 100 million "active seniors" [8][36]

Core Insights - The summer travel peak for 2025 is driven by high temperatures in China's central and eastern regions, leading to increased travel to western and northeastern areas for cooler climates [1] - Long-distance travel orders have increased by over 10% compared to the same period last year, with popular activities including multi-province self-driving tours and stargazing trips [1] Group 1: Travel Trends - The report indicates that from July 1 to 24, over 60% of the top 10 provinces with the fastest growth in domestic flight and hotel bookings are located in the western region [1] - Qinghai province leads the nation with a more than 40% increase in both flight and hotel bookings, while Yunnan, Inner Mongolia, Guizhou, Gansu, Guangxi, and Xinjiang also saw over 20% growth in hotel bookings [1] - Popular destinations for mid to long-distance travel include Xining in Qinghai, Lhasa in Tibet, Yinchuan in Ningxia, Lijiang in Yunnan, Liupanshui in Guizhou, Gannan in Gansu, Hohhot in Inner Mongolia, Altay in Xinjiang, Kangding in Sichuan, and Leye County in Guangxi, with average temperatures ranging from 17°C to 26°C [1] Group 2: Transportation Preferences - Due to the vastness of the western regions and the dispersion of popular attractions, flying to destinations and then renting or hiring vehicles has become a popular choice [2] - From July 1 to 24, car rental bookings in regions like Xinjiang, Qinghai, Ningxia, Gansu, and Inner Mongolia have seen significant increases, with Xinjiang experiencing over 87% year-on-year growth in rental bookings and Qinghai over 50% [2] - Stargazing has emerged as a favored activity, with destinations such as Ali Dark Night Park in Tibet, Chaka Salt Lake in Qinghai, Tengger Desert in Ningxia, Niubei Mountain in Sichuan, Dunhuang in Gansu, Mohe in Heilongjiang, Gaomeigu in Lijiang, and the Taklamakan Desert in Xinjiang being popular for their excellent stargazing conditions [2]

Core Insights - The report by Tuniu indicates a robust recovery in domestic tourism consumption in the first half of 2023, driven by various seasonal activities and cultural tourism trends [1][2][3] - Emerging destinations, particularly in lower-tier cities and county-level areas, are experiencing significant growth in tourist visits, expanding the overall tourism consumption landscape [1][2] - The popularity of self-driving and free travel options is increasing, particularly among younger demographics, with notable growth in user participation [2] Domestic Tourism Trends - Major cities like Beijing, Shanghai, and Guangzhou remain popular, while lower-tier destinations such as Liupanshui and Qiandongnan show remarkable growth, with visitor numbers increasing over 200% [1] - Guizhou province has implemented various cultural tourism incentives, leading to a surge in tourist visits to cities like Liupanshui and Qiandongnan [1] Emerging Destinations - Shanxi province continues to attract visitors due to its rich cultural heritage and culinary offerings, with places like Shuozhou and Changzhi seeing over 150% growth in visitor numbers [2] - The trend of exploring lesser-known destinations is gaining traction, with significant increases in tourist activity in various regions [1][2] Travel Preferences - Self-driving trips and free travel are becoming increasingly popular, with 32% and 20% of domestic travel respectively, and a majority of users being from the post-80s and post-90s generations [2] - Popular domestic self-driving destinations include Shanghai, Guangzhou, and Sanya, reflecting a shift towards more flexible travel options [2] International Travel Insights - For outbound travel, Hong Kong and Macau are favored for their diverse experiences, while destinations like Japan and Southeast Asian countries remain popular among travelers [2] - Long-haul travel to Europe, Australia, and the Middle East is also on the rise, with significant increases in bookings for countries like Italy and the UAE [3] - Emerging destinations such as Luxembourg and Georgia have seen visitor numbers more than double, indicating a growing interest in less traditional travel spots [3]

Summary of Key Points Group 1: Holiday Arrangement - The Dragon Boat Festival holiday is scheduled from May 31 (Saturday) to June 2 (Monday), totaling 3 days off [1]. Group 2: Travel Trends - Ctrip reports a 23% year-on-year increase in domestic surrounding travel bookings for the Dragon Boat Festival in 2025, indicating a steady growth in the market [8]. - The top 10 popular domestic destinations include Beijing, Shanghai, Nanjing, Chengdu, Hangzhou, Qingdao, Chongqing, Guangzhou, Tianjin, and Changsha [8]. - The demand for surrounding travel is particularly strong from regions such as the Yangtze River Delta, Pearl River Delta, Beijing-Tianjin-Hebei, and Sichuan-Chongqing [8]. Group 3: Hotel and Activity Trends - The top three cities with increased hotel popularity during the Dragon Boat Festival are Jin Cheng, Dezhou, and Changzhou, driven by events like concerts and music festivals [10]. - There is a 50% year-on-year increase in search interest for traditional activities such as dragon boat racing, zongzi making, and wearing scented sachets [10]. Group 4: Weather Forecast - A significant rainfall event is expected across central and eastern regions from May 31 to June 3, which may alleviate drought conditions in some northern areas [6]. - The southern regions will experience frequent rainfall during the holiday, with potential for secondary disasters due to overlapping heavy rain events [8].

Group 1 - The core viewpoint of the article highlights the anticipated increase in travel enthusiasm among family units during the upcoming Dragon Boat Festival, coinciding with Children's Day, leading to a 23% year-on-year growth in domestic peripheral travel bookings for the 2025 holiday [1][2] - In Shenzhen, the city is expected to attract a new wave of inbound tourists during the Dragon Boat Festival, following its recognition as one of the top ten inbound travel cities during the May Day holiday [1] - The top ten inbound travel destinations for the Dragon Boat Festival include major cities such as Shanghai, Beijing, and Guangzhou, indicating a strong demand for urban tourism [1][2] Group 2 - The proportion of family travel orders on the Ctrip platform has significantly increased, with 35% of orders being from parent-child families, and searches for family-friendly hotels rising by 45% compared to the previous year [2] - The search interest for domestic inbound travel hotels has more than doubled, with the top ten source countries for inbound tourists being Malaysia, South Korea, and Singapore [2] - Popular outbound travel destinations for the Dragon Boat Festival include Japan, South Korea, and Hong Kong, with short-haul flights under three hours being particularly favored due to visa convenience and travel time [2]

Core Insights - The travel market is experiencing steady growth during the Dragon Boat Festival in 2025, with local and surrounding travel dominating at a 50% share [1] - The popularity of short-distance overseas travel to destinations like Japan, South Korea, and Thailand is notable, alongside a continued interest in inbound tourism [1][4] Domestic Travel Trends - Local and surrounding travel is the primary focus for the 2025 Dragon Boat Festival, with a significant increase in bookings for trips within a "3-hour high-speed rail circle" [1][2] - Bookings for surrounding travel have increased by 23% year-on-year, indicating a stable growth trend in the domestic market [1] - The search interest in traditional cultural experiences during the festival has surged by 50% compared to last year, highlighting a strong interest in local customs [2] Event-Driven Travel - The presence of various themed music festivals and concerts during the Dragon Boat Festival has led to a noticeable increase in cross-city travel [2] - Major events such as concerts by popular artists have sold out, contributing to a spike in hotel bookings in cities hosting these events [2] Family and Pet Travel - The proportion of family travel has significantly increased, with family-oriented bookings accounting for 35% of total orders on travel platforms [3] - There is a growing trend of pet-friendly travel, with a 20% increase in the popularity of pet-friendly hotels compared to last year [3] Inbound and Outbound Travel - Inbound tourism remains strong, with hotel search interest for inbound travel increasing by over 100% during the Dragon Boat Festival [3] - Popular outbound destinations include Japan and South Korea, with unique locations like Egypt and Russia seeing significant hotel booking increases [4]

Core Insights - Tuniu predicts a rise in demand for local and nearby travel during the Dragon Boat Festival, with 47% of bookings for short trips [1] - Long-distance travel remains popular, accounting for 31% of total bookings [1] - Self-driving and high-speed rail travel are the preferred choices for nearby trips, making up over 80% of the travel volume [1] Group 1: Travel Trends - The demand for family-oriented travel is expected to surge due to the overlap of the Dragon Boat Festival and Children's Day [1] - Popular destinations for self-driving trips include major cities such as Shanghai, Guangzhou, Beijing, and Nanjing, among others [1] - The "cross-regional travel" demand is particularly strong in the Yangtze River Delta, Pearl River Delta, and Beijing-Tianjin-Hebei regions [1]

Core Insights - Ctrip has released a report predicting the travel trends for the Dragon Boat Festival in 2025, highlighting a diverse development in the tourism market with a steady growth trajectory for domestic travel [1] Group 1: Travel Trends - The domestic surrounding travel bookings for the Dragon Boat Festival are expected to increase by 23% year-on-year, indicating a robust recovery in the tourism market [1] - Popular destinations include Beijing, Shanghai, and Nanjing, with strong travel demand from the Yangtze River Delta, Pearl River Delta, Beijing-Tianjin-Hebei, and Sichuan-Chongqing regions [1] Group 2: Hotel Pricing Dynamics - Hotel prices are set by the hotels themselves, and OTA platforms do not interfere; this leads to price discrepancies for the same room type due to different pricing strategies by agents [2] - It is advised for travelers to monitor hotel price trends and book in advance to secure better deals [2] Group 3: Cultural and Traditional Activities - There is a 50% year-on-year increase in searches for traditional cultural experiences during the Dragon Boat Festival, with activities like dragon boat racing and making zongzi gaining popularity [3] - Notable increases in tourism bookings were observed in Foshan, Hunan, and Zhejiang, with growth rates of 167%, 85%, and 40% respectively for travel orders [3] Group 4: International Travel - Popular international destinations include Japan and South Korea, with a significant interest in short-haul flights [4] - Unique destinations like Egypt and Russia have seen hotel booking increases of 193% and 133% respectively, indicating a growing interest in diverse travel options [4]

Group 1 - The core viewpoint of the article highlights the steady growth of the travel market during the Dragon Boat Festival, with local and nearby travel dominating at 50% share [1] - The report indicates a significant increase in family travel due to the overlap with Children's Day, with young parents opting for travel packages that combine performances and tourism [1][5] - The popularity of domestic travel is reflected in the 35% year-on-year growth in travel orders in Jiangsu during the holiday, with Nanjing seeing a 57% increase in travel orders [3] Group 2 - The search interest in traditional cultural experiences during the Dragon Boat Festival has surged by 50% compared to last year, with activities like dragon boat racing and zongzi making a strong appeal [5] - The pet-friendly hotel segment has shown a growth of over 20% in popularity, with nearly 20% of hotels allowing pets, indicating a growing trend in pet-inclusive travel [7] - The inbound tourism market has seen a significant increase, with hotel search interest doubling, showcasing China's attractiveness to foreign tourists [7] Group 3 - The top ten outbound travel destinations during the Dragon Boat Festival include Japan, South Korea, and Thailand, with short-haul flights under three hours being particularly favored [8] - The hotel heat index for unique destinations like Egypt and Russia has seen substantial increases, with hotel interest rising by 193% and 133% respectively [8]