Financial Data and Key Metrics Changes - In Q2 2025, net revenues increased by 15% year over year to RMB134.9 million, with revenues from packaged tours growing by 26% [19][6] - Gross profit for Q2 2025 was up 2% year over year, while operating expenses increased by 58% year over year [20][21] - Net income attributable to ordinary shareholders was reported, with non-GAAP net income also provided [22] Business Line Data and Key Metrics Changes - Revenues from packaged tours accounted for 84% of total net revenues, primarily driven by growth in offline tours and self-drive tours [19] - Other revenues decreased by 21% year over year to RMB21.5 million, mainly due to reduced advertising service fees [20] - Transaction volume for New Tour and New Select products grew by over 25% year over year, with Kokuso products seeing a 150% increase [11][12] Market Data and Key Metrics Changes - Domestic tours contributed about two-thirds of total GMV, while outbound tours accounted for one-third [26] - Key outbound destinations included Europe, Japan, and the Middle East, all showing double-digit growth, while Southeast Asia experienced a decline of roughly 30% [26] - Emerging destinations like South America and the Caucasus saw growth rates exceeding 50% and 100%, respectively [26] Company Strategy and Development Direction - The company is focusing on enhancing its supply chain and expanding its range of offerings to meet diverse customer needs [6][10] - Tuniu is leveraging new sales channels such as live streaming and offline stores, with live streaming's contribution to total transaction volume rising from over 15% to nearly 20% [14] - The company aims to refine products and services based on shifts in customer behavior and preferences, particularly during peak travel seasons [15] Management Comments on Operating Environment and Future Outlook - Management noted robust performance in the travel sector, driven by strong consumer demand during holiday periods [5] - The company expects net revenue growth of 7% to 12% in Q3 2025, with a focus on achieving profitability again [29] - Management highlighted the importance of adapting to changing customer habits and preferences, particularly for summer vacation bookings [28] Other Important Information - The company continues to explore AI applications to enhance customer experience and operational efficiency [15] - Cash flow generated from operations for Q2 2025 was RMB46 million, with capital expenditures reported at RMB1 million [22] Q&A Session Summary Question: Can management share the revenue breakdown by destinations for this quarter? What destinations drove the growth of packaged tour revenues? - Management reported that domestic destinations achieved double-digit growth, with outbound tours growing faster than domestic tours. Europe, Japan, and the Middle East all posted double-digit growth, while Southeast Asia declined by roughly 30% [25][26] Question: Can you provide more details about the bookings in the summer vacation? - Management noted significant demand during the peak season, particularly from families with children. Domestic city tours, especially in cities with museums and theme parks, were popular. For outbound travel, double-digit growth was observed in Japan, Europe, and certain islands, while Singapore and Malaysia gained popularity despite challenges in Southeast Asia [28][29]

Financial Data and Key Metrics Changes - In the second quarter of 2025, net revenues increased by 15% year over year to RMB134.9 million, with revenues from packaged tours growing by 26% [17][5] - Gross profit for the quarter was up 2% year over year, while operating expenses increased by 58% year over year [19][20] - Net income attributable to ordinary shareholders was reported, with non-GAAP net income also provided, excluding share-based compensation expenses [21] Business Line Data and Key Metrics Changes - Revenues from packaged tours accounted for 84% of total net revenues, primarily driven by growth in offline tours and self-drive tours [17] - Other revenues decreased by 21% year over year to RMB21.5 million, mainly due to reduced advertising service fees [18] - Transaction volume for New Tour and New Select products grew by over 25% year over year, with Kokuso products seeing a growth of over 150% year over year [10][11] Market Data and Key Metrics Changes - Domestic tours contributed about two-thirds of total GMV, while outbound tours accounted for one-third, with Europe being the top outbound destination [26] - Emerging destinations like South America and Sri Lanka saw growth rates exceeding 50% and 100% respectively, while Southeast Asia experienced a decline of roughly 30% [26] - Live streaming's contribution to total transaction volume rose from over 15% to nearly 20% [13] Company Strategy and Development Direction - The company is focusing on enhancing its supply chain and expanding its range of offerings to meet diverse customer needs [5][7] - Tuniu is leveraging new sales channels such as live streaming and offline stores, which have contributed to a broader customer base [6][13] - The company aims to refine its products and services in response to shifts in customer behavior and preferences, particularly during peak travel seasons [14] Management's Comments on Operating Environment and Future Outlook - Management noted strong consumer demand during holiday periods, contributing to robust performance in the travel sector [4] - The company expects net revenue growth of 7% to 12% in the third quarter, driven by increased demand during the summer vacation [30] - Management highlighted the importance of adapting to changing customer habits and preferences, particularly in the context of outbound travel [29] Other Important Information - The company continues to explore AI applications to enhance customer experience and operational efficiency [14] - Cash flow generated from operations for the quarter was RMB46 million, with capital expenditures reported at RMB1 million [21] Q&A Session Summary Question: Can management share the revenue breakdown by destinations for this quarter? - Packaged tour revenue increased by 26% year over year, with domestic destinations achieving double-digit growth and outbound tours growing faster [25][26] Question: Can you provide more details about the bookings in the summer vacation? - Demand has significantly increased during the peak season, particularly from families with children, with domestic city tours being popular [28][30]

Financial Data and Key Metrics Changes - For the first quarter of 2025, net revenues were RMB117.5 million, representing a year-over-year increase of 9% from the corresponding period in 2024 [16] - Revenues from packaged tours increased by 19% year-over-year to RMB99 million, accounting for 84% of total net revenues [16] - Gross profit for the first quarter was RMB69.3 million, down 15% year-over-year [17] - Operating expenses rose to RMB80.1 million, up 15% year-over-year [17] - Net loss attributable to ordinary shareholders was reported, with non-GAAP net income also noted [18][19] - The company expects to generate RMB131 million to RMB136.8 million in net revenues for the second quarter, representing a 12% to 17% year-over-year increase [19] Business Line Data and Key Metrics Changes - The core business maintained steady growth, with packaged tours showing a 19% increase year-over-year [5] - Outbound tour transaction volume achieved double-digit year-over-year growth, despite challenges in some Southeast Asian destinations [6] - Transaction volume for new select products increased by over 80% compared to the previous quarter [9][26] Market Data and Key Metrics Changes - The contribution of live streaming to total transaction volume increased from 10% in the first quarter last year to over 15% this year [10] - The company opened nearly 300 offline stores, primarily in high-demand markets [11] Company Strategy and Development Direction - The company is focused on offering differentiated and high-quality products as a competitive advantage [7] - Strategies include leveraging supply chain advantages to reduce procurement costs and enhance customer value [6][7] - The introduction of AI technologies aims to improve customer experience and operational efficiency [13][14] Management's Comments on Operating Environment and Future Outlook - Management noted that the domestic travel market showed consistent growth momentum, particularly during the Spring Festival [5] - The company is committed to diversifying its product offerings to attract different customer segments, especially price-sensitive travelers [25] - Management aims to achieve profitability in the second quarter by controlling internal costs [27] Other Important Information - The company has embraced new AI technologies to enhance customer experience and operational efficiency [13][14] - The launch of a self-developed travel AI agent aims to provide one-stop services for customers [13] Q&A Session Summary Question: Inquiry about product strategy and pricing - Management emphasized that quality is a priority, and competitive pricing is essential to attract new customers and enhance repurchase rates [22][24] - The company consolidates its supply chain to lower purchasing costs and uses AI for competitive pricing [25] - Management aims to achieve profitability in the second quarter while maintaining a lower gross profit ratio compared to the previous year [26][27]