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Tuniu gets more trips sold, yet posts larger net loss

08/23/2016| 4:11:16 PM| 中文

Tuniu's number of trips sold increased by 64.8% in the second quarter of 2016, but the company still registered larger net loss than that of Q2 2015.

Highlights for the Second Quarter of 2016

* Total travel gross merchandise value increased by 94.3% to RMB 4.5 billion (USD 675.3 million) 
* Packaged tour gross bookings increased by 54.8% to RMB 3.3 billion (USD 490.2 million)
* Net revenues increased by 55.6% YoY to RMB2.4 billion (USD 355.5 million)
* Total number of trips from organized tours (excluding local tours) increased by 98.1%, total number of trips from self-guided tours increased by 85.8%
* Mobile orders contributed to over 80% of total online orders in the second quarter of 2016.

Net revenues were RMB 2.4 billion (USD 355.5 million) in the second quarter of 2016, representing a year-over-year increase of 55.6% from the corresponding period in 2015. 

The number of trips sold increased by 64.8% to 1,666,455 in the second quarter of 2016 from 1,011,267 in the second quarter of 2015.

Revenues from organized tours, substantially all of which are recognized on a gross basis, were RMB 2,213.3 million (USD 333.0 million) in the second quarter of 2016, representing a year-over-year increase of 50.9% from the corresponding period in 2015.

In the second quarter of 2016, the number of trips of organized tours (excluding local tours) increased by 98.1% to 610,958 from 308,417 in the same period last year, and the number of trips of local tours increased by 33.3% to 634,799 from 476,375 in the second quarter of 2015.

Net loss was RMB 766.9 million (USD 115.4 million) in the second quarter of 2016, compared to a net loss of RMB 246.2 million in the second quarter of 2015.

As of June 30, 2016, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB 5.9 billion (USD 893.5 million).

For the third quarter of 2016, Tuniu expects to generate RMB 3,878.7 million to RMB 4,027.9 million of net revenues, which represents 30% to 35% growth year-over-year.

Update: Tuniu's board of directors has authorized the company to repurchase up to USD 150 million worth of its ordinary shares.

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TAGS: Tuniu | accommodation reservation | financial statements
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