Tuniu Corporation Achieves Profitable First Quarter in 2024

Tuniu Corporation, a well-known online leisure travel company based in China, has released its unaudited financial results for the first quarter ending on March 31, 2024. The company experienced a remarkable increase in net revenues compared to the previous year, particularly in revenues from packaged tours. This quarter marked a significant milestone as Tuniu achieved its first profitable first quarter since going public, signaling positive growth for the company.

During the first quarter of 2024, Tuniu recorded a 70.9% surge in net revenues, totaling RMB108.0 million (US$15.0 million). The gross profit also saw a substantial rise of 111.0% year-over-year, reaching RMB82.0 million (US$11.4 million). Despite a 24.8% increase in operating expenses, the company managed to secure an income from operations of RMB12.3 million (US$1.7 million).

Net income for the same period amounted to RMB21.9 million (US$3.0 million), showcasing a significant improvement from the net loss reported in Q1 2023. Additionally, Tuniu announced a share repurchase program and had already repurchased around 3.5 million ADSs valued at US$2.9 million by the end of May 31, 2024.

Looking forward to the second quarter of 2024, Tuniu is optimistic about achieving a 15% to 20% year-over-year increase in net revenues. The company's strategic focus remains on product innovation, enhancing service quality, and improving operational efficiency to solidify its market presence and deliver value to both customers and shareholders.

Tuniu, trading on Nasdaq under the symbol TOUR, stands out as a leading provider of online leisure travel services in China. Through its user-friendly website and mobile platform, Tuniu offers a diverse array of packaged tours and travel-related services to leisure travelers, backed by a dedicated customer service team and an extensive offline service network.

Tuniu Corporation's robust financial performance in the first quarter of 2024 reflects its resilience and strategic initiatives in the competitive travel industry. With a focus on growth and customer satisfaction, Tuniu is poised for continued success in the upcoming quarters, offering exciting opportunities for investors and travelers alike.