In This Article:
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Fourth Quarter Net Revenues: RMB102.7 million, a 3% year-over-year increase.
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Fourth Quarter Gross Profit: RMB69.8 million, down 6% year over year.
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Fourth Quarter Operating Expenses: RMB82.5 million, down 58% year over year.
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Fourth Quarter Net Loss: RMB24.2 million attributable to ordinary shareholders.
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Fourth Quarter Non-GAAP Net Loss: RMB6.4 million attributable to ordinary shareholders.
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Full Year Net Revenues: RMB513.6 million, a 16% year-over-year increase.
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Full Year Gross Profit: RMB358 million, up 22% year over year.
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Full Year Operating Expenses: RMB294.8 million, down 25% year over year.
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Full Year Net Income: RMB77.2 million attributable to ordinary shareholders.
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Full Year Non-GAAP Net Income: RMB80.8 million attributable to ordinary shareholders.
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Cash and Cash Equivalents: RMB1.3 billion as of December 31, 2024.
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Cash Flow from Operations: RMB84 million for 2024.
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Capital Expenditures: RMB12 million for 2024.
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First Quarter 2025 Revenue Guidance: RMB116.6 million to RMB122 million, representing an 8% to 13% increase year over year.
Release Date: March 14, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Tuniu Corp (NASDAQ:TOUR) achieved its first GAAP profit for the full year since its listing, marking a significant financial milestone.
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Net income on a non-GAAP basis grew by over 70% year over year, reaching a record high since the company's IPO.
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The company returned approximately USD10 million to shareholders in 2024 through a special cash dividend and a share repurchase program.
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Tuniu Corp (NASDAQ:TOUR) expanded its product offerings, including new select products and in-depth single destination tours, catering to a wider range of customer needs.
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Live-streaming channels performed exceptionally well, with transaction and verification volumes increasing by over 100% year over year.
Negative Points
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Gross profit for the fourth quarter of 2024 decreased by 6% year over year.
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Net loss attributable to ordinary shareholders was RMB24.2 million in the fourth quarter of 2024.
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Sales and marketing expenses increased by 28% year over year in the fourth quarter, impacting overall profitability.
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The company anticipates that competitive pricing strategies may negatively impact gross profits in 2025.
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Quarterly performance may vary due to seasonality, with the third quarter expected to contribute the majority of annual profits.
Q & A Highlights
Q: Hi, management, congratulations on a profitable year. Can you share with us your projections for the 2025 revenue and profit? What are some key drivers to support revenue growth? Are you going to maintain quarterly or yearly profitability? Thank you. A: Thank you for the questions. In 2025, the total travel market will continue to grow while the market competition is getting more intense in terms of both quality and price. We will continue to adopt a high-quality business development strategy, aiming to beat the industry average growth rate. On the product side, we will invest in product upgrading and innovation for our core products, such as introducing more in-depth and single-definition tour products for our new tours to better serve and retain our repeat customers. Despite the intense competition, we will keep competitive pricing for certain products to attract more new customers, which may negatively impact our gross profits. On the sales side, we'll expand the diversity of our sales channels, leveraging new media channels and live streaming. Last year, live-streaming contributed about 10% of our total GMV. We plan to significantly increase the number of offline stores, potentially doubling them. On the technology side, we focus on AI agents to enhance user experience and improve operational efficiency. Despite our investments, we aim for a profitable year in 2025, with quarterly performance varying due to seasonality, particularly expecting the third quarter to be the peak season contributing the majority of annual profits.