The following is a summary of the Tuniu Corporation (TOUR) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Tuniu Corporation reported a significant year-over-year increase in net revenues for Q2 2024, amounting to CNY 116.9 million, a 17% increase.

• Revenue from packaged tours increased by 29% year-over-year, making up 77% of total net revenues.

• The company achieved a quarterly record high net income of CNY 43 million.

• Gross profit rose by 29% year-over-year to CNY 84.4 million.

• Operating expenses decreased by 15% from the previous year, contributing to the profitability.

• Sales and marketing expenses surged by 61% due to increased promotional activities.

Business Progress:

• Tuniu continued to strengthen its in-house product development, with transaction volume of new tour products up over 40% year-over-year.

• Live streaming channels and new media strategies showed significant progress, with triple-digit growth in transaction volume on Tuniu app and the mini program.

• The company expanded the variety and destination coverage of its arrangements, particularly in outbound travel, which are adapting to changing consumer preferences and increasing the offerings through partnerships.

Opportunities:

• The full opening of overseas destinations and a diverse range of travel products underpin potential market expansion opportunities.

• The company's adaptation and expansion of live streaming and new media channels are timely strategic responses to the evolving digital consumption trends.

• Engaging with new partnerships in high-traffic online platforms and various promotional strategies represent significant opportunities for customer base expansion and sales increase.

Risks:

• The increase in sales and marketing expenses by 61%, primarily for promotion and personnel, may affect operating margins if not offset by proportional revenue growth in future quarters.

More details: Tuniu IR

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