Core Insights - ly.com demonstrated significant growth in Q1 2025, with revenue reaching RMB 4.377 billion, a 13.2% year-over-year increase, and adjusted net profit of RMB 788 million, up 41.1% YoY, indicating strong demand in the mass-market tourism sector [1][2][4] Operational Performance - Revenue from the online travel platform segment grew by 18.4% YoY to RMB 3.792 billion, accounting for approximately 86.6% of total revenue, driven by accommodation booking services and transportation ticketing [4][5] - Adjusted EBITDA reached RMB 1.159 billion, reflecting a robust business mix and multi-dimensional expansion [2][4] Business Developments - ly.com is focusing on mass-market tourism, targeting consumers in non-first-tier cities, which represent a significant growth opportunity, with 87% of registered users from these areas [9][11] - The company has integrated AI capabilities to enhance operational efficiency, reducing labor costs by 20% and improving user experience through personalized travel planning [16][17] Strategic Insights - The mass-market tourism sector is experiencing segmentation and diversification, with a growing demand for differentiated travel experiences among various consumer groups [20][21] - Outbound tourism is expected to drive future growth, particularly from non-first-tier cities, as ly.com enhances its international offerings and partnerships [7][23]

Tongcheng Travel Holdings (00780) Q1 2025 Earnings Call May 23, 2025 07:30 AM ET Company Participants Kylie Yeung - Investor Relations DirectorJoyce Li - VP & Head of Capital MarketsFan Lei - CFOBrian Gong - Internet & Media Research Conference Call Participants None - AnalystYue Tang - AnalystWei Xiong - Equity Research Analyst Operator Good day and thank you for standing by. Welcome to Tongcheng Travel twenty twenty five First Quarter Results Announcement. At this time, all participants are in a listen on ...

Financial Data and Key Metrics Changes - The company reported a net revenue of RMB4.4 billion, representing a 13.2% year-over-year increase from the same period in 2024 [27] - Adjusted net profit reached RMB788 million, reflecting a 41.1% year-over-year growth, with an adjusted net margin of 18% compared to 14.4% in the same period of 2024 [27] - The core OTA business revenue grew by 18.4% year-over-year, totaling RMB3.8 billion, driven by growth in accommodation reservation and transportation ticketing [27] Business Line Data and Key Metrics Changes - Transportation ticketing revenue was RMB2.0 billion, a 15.2% increase year-over-year [27] - Accommodation reservation business achieved RMB1.2 billion, representing a 23.3% increase from the same period in 2024 [28] - International accommodation business saw significant growth, contributing to overall performance [29] Market Data and Key Metrics Changes - The outbound travel segment accounted for over 5% of total transportation ticketing revenues, marking a year-over-year increase of three percentage points [28] - International room night sales and international air ticketing volumes increased by more than 40% year-over-year [46] Company Strategy and Development Direction - The company aims to deepen its domestic market presence while accelerating the expansion of its outbound travel business [7] - Plans to acquire Wanda Hotel Management Company to enhance influence within the hotel management sector and support sustainable growth [11] - Focus on technological advancements and integrating AI into business operations to improve service quality and efficiency [8] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the long-term prospects of China's travel industry, supported by government initiatives and changing consumer preferences [11][31] - The company plans to enhance user value and drive technological iteration to improve service efficiency [9] - Positive signals in the travel market, including increased ADR and consumer willingness to pay for quality accommodations, indicate a robust recovery [64] Other Important Information - The company has established a comprehensive hotel brand portfolio with over 2,500 hotels in operation and more than 1,400 in the pipeline [18] - The standalone app has seen a 60% year-over-year increase in daily active users, contributing significantly to user acquisition [20] Q&A Session Summary Question: Growth pattern of core OTA business in upcoming quarters - Management highlighted the resilience of the Chinese travel market and expects steady growth with healthy profitability, focusing on enhancing ARPU and optimizing marketing investments [36][38] Question: Forecast for outbound business growth - Outbound travel segment has shown remarkable growth, with international air ticketing revenue accounting for over 45% of total transportation ticketing revenue [46][48] Question: Impact of AI agent DeepTrip on user engagement - DeepTrip is still in early adoption stages, with innovative features being integrated to enhance user experience and engagement over time [49][50] Question: Update on standalone app performance - The standalone app has significantly contributed to user acquisition and revenue growth, with ongoing efforts to enhance user engagement and ARPU [54][58] Question: Macro uncertainties and travel demand sustainability - Despite macro uncertainties, management remains optimistic about the travel industry's growth, citing strong consumer demand and changing consumption patterns [63][64] Question: Rationale behind the acquisition of Wanda Hotel Management - The acquisition is seen as a strategic move to enhance the company's hotel management capabilities and leverage existing user insights for better marketing and operational efficiency [68][70]

【环球网财经综合报道】5月23日，同程旅行发布2025年一季度业绩报告，数据显示，公司一季度实现 营收43.77亿元，同比增长13.2%，经调整净利润为7.88亿元，展现出强劲的增长势头。 随着大众旅游消费力的不断升级，同程旅行年服务人次达到19.6亿，年付费用户更是创下历史新高，达 到2.47亿。公司从普通旅行者需求出发，提供更具性价比的出行方案，交通业务收入同比增长15.2%， 达到20亿元。 在住宿业务方面，同程旅行同样表现出色，收入同比增长23.3%，达到11.9亿元。非一线城市居民出境 热潮的带动下，国际机票和酒店业务也实现显著增长，国际机票量同比增长超40%，国际酒店间夜量同 比增长超50%。 同程旅行还聚焦大众出行的"第一公里"和"最后一公里"，构建了丰富的出行产品体系，满足用户个性化 需求。同时，公司通过火车/机票+接送服务、酒店+用车服务等创新组合，为用户提供大力度的优惠让 利，进一步提升了用户满意度和忠诚度。 此外，同程旅行持续加大在AI应用领域的投入，推出AI智能体DeepTrip，实现从"AI推荐"到"AI决策执 行+预订执行"的闭环，提升了运营效率。 同程旅行CEO马和平表示，大众旅 ...