Home > > Chinese OTA Tuniu reports 55.5% net revenue drop in Q1, but expects more than 300% growth in Q2

Chinese OTA Tuniu reports 55.5% net revenue drop in Q1, but expects more than 300% growth in Q2

06/03/2021| 6:33:45 PM| ChinaTravelNews 中文

Revenues from packaged tours were USD 6.9 million in the first quarter of 2021, representing a year-over-year decrease of 62.3%.

Tuniu Corporation, a leading online leisure travel company in China, reported that net revenues were RMB 77.4 million (USD 11.8 million) in the first quarter of 2021, representing a year-over-year decrease of 55.5% from the corresponding period in 2020. 

Revenues from packaged tours were RMB 45.4 million (USD 6.9 million) in the first quarter of 2021, representing a year-over-year decrease of 62.3% from the corresponding period in 2020. The decrease was primarily due to the decline in travel to international destinations impacted by the outbreak and spread of COVID-19.

Other revenues were RMB 32.0 million (USD 4.9 million) in the first quarter of 2021, representing a year-over-year decrease of 40.5% from the corresponding period in 2020. The decrease was primarily due to the decline in revenues generated from financial services.

Gross profit was RMB 28.7 million (USD 4.4 million) in the first quarter of 2021, representing a year-over-year decrease of 69.0% from the corresponding period in 2020.

Net loss was RMB 41.6 million (USD 6.4 million) in the first quarter of 2021, compared to a net loss of RMB 205.2 million in the first quarter of 2020.

For the second quarter of 2021, the Company expects to generate RMB 142.9 million to RMB 149.7 million of net revenues, which represents 320% to 340% increase year-over-year. This forecast reflects Tuniu's current and preliminary view on the industry and its operations, which is subject to change.

TAGS: Tuniu | financial report
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