Home > > Tencent-backed Tongcheng Travel posts more than 50% rise in Q1 revenue

Tencent-backed Tongcheng Travel posts more than 50% rise in Q1 revenue

05/24/2023| 6:48:19 PM| ChinaTravelNews

Some 80% of Tongcheng's active users were contributed by Tencent's Weixin mini program.

Tongcheng Travel, a Hong Kong-listed online travel company jointly invested by Tencent and Trip.com Group, said its first-quarter revenue rose more than 50% to RMB 2,586 million (USD 366.9 million). 

Average monthly active users (MAU) rose 16.9% to 244.8 million during the quarter, while average monthly paying users (MPU) increased 30.6% to 41.4 million at the time. 

But the number of paying users for the twelve-month period ended March 31 decreased by 2.4% year-to-year to 200.7 million.

The company's gross merchant value (GMV) jumped 76.5% to RMB 57.2 billion (USD 8.1 billion). 

Tongcheng said it further enhanced user interactions and strengthened cooperation with Tencent. In the first quarter of 2023, around 80% of its average MAUs were contributed by Weixin mini program. 

TAGS: Tongcheng Travel | financial results | 2023 Q1
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