Core Insights - Trip.com Group Limited reported strong financial results for the second quarter of 2025, with net revenue reaching RMB14.8 billion (US$2.1 billion), a 16% increase year-over-year and a 7% increase from the previous quarter, driven by robust travel demand [3][20]. Financial Performance - Accommodation reservation revenue was RMB6.2 billion (US$869 million), up 21% year-over-year and 12% from the previous quarter, attributed to increased reservations [4]. - Transportation ticketing revenue reached RMB5.4 billion (US$753 million), an 11% increase from the same period in 2024, but flat compared to the previous quarter [5]. - Packaged-tour revenue was RMB1.1 billion (US$151 million), reflecting a 5% increase year-over-year and a 14% increase from the previous quarter [6]. - Corporate travel revenue increased by 9% year-over-year to RMB692 million (US$97 million) and surged 21% from the previous quarter [7]. - The company's net income for the second quarter was RMB4.9 billion (US$681 million), compared to RMB3.9 billion in the same period of 2024 [13]. Cost and Expenses - Cost of revenue increased by 22% to RMB2.8 billion (US$393 million) year-over-year, aligning with revenue growth [8]. - Product development expenses rose by 17% to RMB3.5 billion (US$489 million), primarily due to increased personnel costs [9]. - Sales and marketing expenses also increased by 17% to RMB3.3 billion (US$464 million), driven by promotional activities [10]. - General and administrative expenses saw a modest increase of 2% to RMB1.1 billion (US$153 million) [11]. Strategic Initiatives - The company announced a new share repurchase program, allowing for the repurchase of up to US$5 billion of its outstanding shares [18]. - Trip.com Group emphasized its commitment to innovation and partnership development to capture growing travel demand, particularly in inbound travel [2]. Market Trends - International business segments showed strong growth, with overall reservations on the international OTA platform increasing by over 60% year-over-year and inbound travel bookings surging by over 100% [20].

Core Viewpoint - Tuniu Corporation reported steady growth in the second quarter of 2025, with net revenues increasing by 15.3% year-over-year and a return to profitability [2][3]. Financial Performance - Net revenues for Q2 2025 were RMB134.9 million (US$18.8 million), a 15.3% increase from Q2 2024 [3]. - Revenues from packaged tours rose by 26.3% year-over-year, amounting to RMB113.4 million (US$15.8 million) [16]. - Gross profit was RMB86.0 million (US$12.0 million), reflecting a 1.9% increase from the previous year [5]. - Net income was RMB14.1 million (US$2.0 million), down from RMB43.0 million in Q2 2024 [9][10]. Cost and Expenses - Cost of revenues increased by 50.2% year-over-year to RMB48.9 million (US$6.8 million), representing 36.2% of net revenues [5]. - Operating expenses were RMB78.9 million (US$11.0 million), a 58.0% increase from the previous year [6]. - Research and product development expenses rose by 29.2% to RMB16.4 million (US$2.3 million) [17]. - Sales and marketing expenses increased by 11.9% to RMB45.0 million (US$6.3 million) [17]. - General and administrative expenses decreased by 18.3% to RMB17.8 million (US$2.5 million) [17]. Operational Highlights - The company focused on integrating its supply chain, products, and sales channels to enhance operational efficiency and customer experience [2]. - Tuniu plans to leverage digital technologies to develop differentiated products for various customer segments [2]. Business Outlook - For Q3 2025, Tuniu expects net revenues to be between RMB199.0 million and RMB208.3 million, indicating a 7% to 12% year-over-year increase [12]. Share Repurchase Program - Tuniu's Board of Directors authorized a new share repurchase program of up to US$10 million, effective immediately after the termination of the previous program [14]. - As of July 31, 2025, the company had repurchased approximately 10.6 million ADSs for about US$9.9 million [13]. Cash Position - As of June 30, 2025, Tuniu had cash and cash equivalents totaling RMB1.2 billion (US$172.0 million) [11].

Core Viewpoint - Trip.com Group Limited is set to announce its financial results for the three and six months ending June 30, 2025, on August 27, 2025, after market close [1] Group 1: Financial Results Announcement - The financial results will be disclosed after market hours on August 27, 2025, U.S. Time [1] - The management team will host a conference call at 8:00 PM U.S. Eastern Time on the same day [2] - The conference call will be available via live webcast and will be archived for twelve months [2] Group 2: Conference Call Registration - Participants must pre-register to join the conference call using a provided registration link [3] - Upon registration, participants will receive details including dial-in numbers and a unique access PIN [3] Group 3: Company Overview - Trip.com Group Limited is a leading global one-stop travel platform, offering a comprehensive suite of travel products and services [4] - The company operates under various brands, including Ctrip, Qunar, Trip.com, and Skyscanner, and aims to provide cost-effective travel solutions [4] - Founded in 1999, the company was listed on Nasdaq in 2003 and on HKEX in 2021, with a mission to pursue the perfect trip for a better world [4]

Core Viewpoint - Tuniu Corporation, a leading online leisure travel company in China, is set to release its unaudited financial results for Q2 2025 on August 15, 2025, before market opening [1]. Group 1: Financial Results Announcement - Tuniu plans to announce its unaudited financial results for the second quarter ended June 30, 2025, on August 15, 2025 [1]. - The earnings conference call will take place at 8:00 am U.S. Eastern Time on the same day [1]. Group 2: Conference Call Details - Listeners can access the earnings call through various dial-in numbers, including US, Hong Kong, Mainland China, and international lines [2]. - A telephone replay will be available one hour after the call until August 22, 2025, with specific dial-in details provided [2]. - A live and archived webcast of the conference call will be accessible on Tuniu's investor relations website [2]. Group 3: Company Overview - Tuniu Corporation is recognized as a leading online leisure travel company in China, offering a wide range of integrated travel services, including packaged tours and travel-related services [3]. - The company provides one-stop leisure travel solutions through its online platform and offline service network, which includes customer service representatives and retail stores [3].

Group 1 - Trip.com Group Limited has entered into a share repurchase agreement with MakeMyTrip Limited to sell a portion of its Class B ordinary shares for cancellation, aiming to optimize its investment portfolio and enhance shareholder returns [1] - After the proposed repurchase, Trip.com Group will remain the largest minority shareholder of MakeMyTrip and continue to support its growth [1] - To fund the repurchase, MakeMyTrip has launched an offering of convertible senior notes and a concurrent underwritten public offering of ordinary shares, with Trip.com Group agreeing to a 180-day lock-up period [1] Group 2 - Trip.com Group Limited is a leading global one-stop travel platform, offering a comprehensive suite of travel products and services [2] - The company operates under various brands, including Ctrip, Qunar, Trip.com, and Skyscanner, and aims to provide travelers with informed and cost-effective travel bookings [2] - Founded in 1999, Trip.com Group was listed on Nasdaq in 2003 and on HKEX in 2021, with a mission to pursue the perfect trip for a better world [2]

Group 1 - Trip.com Group Limited has entered into a share repurchase agreement with MakeMyTrip Limited to sell a portion of its Class B ordinary shares for cancellation, aiming to optimize its investment portfolio and enhance shareholder returns [1] - After the proposed repurchase, Trip.com Group will remain the largest minority shareholder of MakeMyTrip and continue to support its growth [1] - To fund the repurchase, MakeMyTrip has launched an offering of convertible senior notes and a concurrent underwritten public offering of ordinary shares, with Trip.com Group agreeing to a 180-day lock-up period [1] Group 2 - Trip.com Group Limited is a leading global one-stop travel platform, offering a comprehensive suite of travel products and services [2] - The company operates under various brands, including Ctrip, Qunar, Trip.com, and Skyscanner, and aims to provide travelers with cost-effective booking options and support [2] - Founded in 1999, Trip.com Group was listed on Nasdaq in 2003 and on HKEX in 2021, with a mission to pursue the perfect trip for a better world [2]

Core Viewpoint - Tuniu Corporation reported steady growth in the first quarter of 2025, with a focus on enhancing product quality and optimizing sales channels to reach more customers [2][12]. Financial Performance - Net revenues for Q1 2025 were RMB 117.5 million (US$ 16.2 million), marking an 8.9% increase year-over-year from Q1 2024 [3]. - Revenues from packaged tours were RMB 99.0 million (US$ 13.6 million), representing a year-over-year increase of 19.3% [15]. - Other revenues decreased to RMB 18.5 million (US$ 2.6 million), a decline of 25.8% year-over-year [15]. Cost and Profitability - Cost of revenues was RMB 48.2 million (US$ 6.6 million), an increase of 85.9% year-over-year, constituting 41.0% of net revenues [5]. - Gross profit decreased to RMB 69.3 million (US$ 9.6 million), a decline of 15.5% from the previous year [5]. - Operating expenses rose to RMB 80.1 million (US$ 11.0 million), reflecting a 14.9% increase year-over-year [6]. Operational Losses - Loss from operations was RMB 10.8 million (US$ 1.5 million), compared to an income from operations of RMB 12.3 million in Q1 2024 [7]. - Net loss was RMB 5.4 million (US$ 0.7 million), a significant drop from a net income of RMB 21.9 million in Q1 2024 [9]. Cash Position - As of March 31, 2025, Tuniu had cash and cash equivalents totaling RMB 1.2 billion (US$ 167.2 million) [11]. Future Outlook - For Q2 2025, Tuniu expects net revenues between RMB 131.0 million and RMB 136.8 million, indicating a year-over-year increase of 12% to 17% [12]. Share Repurchase Program - The company has repurchased approximately 9.5 million ADSs for about US$ 9.0 million under its share repurchase program authorized in March 2024 [13].

Core Viewpoint - Tuniu Corporation, a leading online leisure travel company in China, is set to release its unaudited financial results for Q1 2025 on June 12, 2025, before market opening [1]. Group 1: Financial Results Announcement - Tuniu plans to announce its unaudited financial results for the first quarter ended March 31, 2025, before the market opens on June 12, 2025 [1]. - An earnings conference call will be held at 8:00 am U.S. Eastern Time on June 12, 2025 [1]. Group 2: Conference Call Details - Listeners can access the earnings conference call through various dial-in numbers provided for the U.S., Hong Kong, Mainland China, and international callers [2]. - A telephone replay of the conference call will be available one hour after the call ends, lasting until June 19, 2025 [2]. - A live and archived webcast of the conference call will be accessible on Tuniu's investor relations website [2]. Group 3: Company Overview - Tuniu Corporation is recognized as a leading online leisure travel company in China, offering a wide range of integrated travel services, including packaged tours and travel-related services [3]. - The company provides one-stop leisure travel solutions through its online platform and offline service network, which includes a dedicated customer service team and extensive retail store networks [3].

Core Insights - Trip.com Group Limited reported strong growth in its international businesses, with overall reservations on its international OTA platform increasing by over 60% year-over-year and inbound travel bookings surging by around 100% year-over-year [2][3] - The company achieved net revenue of RMB13.8 billion (US$1.9 billion) for the first quarter of 2025, representing a 16% increase from the same period in 2024, driven by stronger travel demand [4] - The travel industry maintained strong momentum in the first quarter of 2025, supported by resilient consumer demand and favorable travel policies [3] Financial Performance - Accommodation reservation revenue for Q1 2025 was RMB5.5 billion (US$764 million), a 23% increase from Q1 2024 [5] - Transportation ticketing revenue for Q1 2025 was RMB5.4 billion (US$747 million), an 8% increase from Q1 2024 [6] - Packaged-tour revenue for Q1 2025 was RMB947 million (US$131 million), a 7% increase from Q1 2024 [7] - Corporate travel revenue for Q1 2025 was RMB573 million (US$79 million), a 12% increase from Q1 2024 [8] - Net income for Q1 2025 was RMB4.3 billion (US$596 million), unchanged from Q1 2024 [14][15] Cost Structure - Cost of revenue for Q1 2025 increased by 21% to RMB2.7 billion (US$373 million) compared to Q1 2024 [9] - Product development expenses for Q1 2025 increased by 13% to RMB3.5 billion (US$486 million) from Q1 2024 [10] - Sales and marketing expenses for Q1 2025 increased by 30% to RMB3.0 billion (US$413 million) from Q1 2024 [11] - General and administrative expenses for Q1 2025 increased by 11% to RMB1.0 billion (US$143 million) from Q1 2024 [12] Cash Position and Shareholder Returns - As of March 31, 2025, the company had cash and cash equivalents totaling RMB92.9 billion (US$12.8 billion) [17] - The company repurchased 1.6 million ADSs for a total gross consideration of US$84 million as part of its share repurchase plan [18]