Tuniu Announces Unaudited Second Quarter 2026 Financial Results

Tuniu Announces Unaudited Second Quarter 2026 Financial Results

PR Newswire

NANJING, China, Aug. 25, 2026

NANJING, China, Aug. 25, 2026 /PRNewswire/ -- Tuniu Corporation (NASDAQ: TOUR) ("Tuniu" or the "Company"), a leading online leisure travel company in China, today announced its unaudited financial results for the second quarter ended June 30, 2026.

"In the second quarter, we continued to advance our diversified product and sales channel strategy," said Mr. Donald Dunde Yu, Tuniu's founder, Chairman and Chief Executive Officer. "We further expanded our product offerings and strengthened our channel presence to better meet customers' diverse and evolving needs and support the continued healthy growth of our business. At the same time, we adopted more targeted marketing initiatives to increase product conversion and redemption rates. We also continued to improve operational efficiency through the use of AI tools and achieved non-GAAP profitability for the sixth consecutive quarter. Going forward, we will remain focused on creating greater value for our customers and shareholders."Second Quarter 2026 ResultsNet revenues were RMB138.9 million (US$20.5 million[1]) in the second quarter of 2026, representing a year-over-year increase of 3.0% from the corresponding period in 2025.Revenues from packaged tours were RMB121.1 million (US$17.8 million) in the second quarter of 2026, representing a year-over-year increase of 6.8% from the corresponding period in 2025. The increase was primarily due to the growth of organized tours.Other revenues were RMB17.8 million (US$2.6 million) in the second quarter of 2026, representing a year-over-year decrease of 16.9% from the corresponding period in 2025. The decrease was primarily due to the decrease in the fees for advertising services provided to tourism boards and bureaus.Cost of revenues was RMB62.5 million (US$9.2 million) in the second quarter of 2026, representing a year-over-year increase of 27.9% from the corresponding period in 2025. As a percentage of net revenues, cost of revenues was 45.0% in the second quarter of 2026, compared to 36.2% in the corresponding period in 2025.Gross profit was RMB76.4 million (US$11.3 million) in the second quarter of 2026, representing a year-over-year decrease of 11.1% from the corresponding period in 2025.Operating expenses were RMB82.5 million (US$12.2 million) in the second quarter of 2026, representing a year-over-year increase of 4.6% from the corresponding period in 2025.Research and product development expenses were RMB13.8 million (US$2.0 million) in the second quarter of 2026, representing a year-over-year decrease of 15.8%. The decrease was primarily due to the decrease in research and product development personnel related expenses. Research and product development expenses as a percentage of net revenues were 9.9% in the second quarter of 2026.Sales and marketing expenses were RMB54.7 million (US$8.1 million) in the second quarter of 2026, representing a year-over-year increase of 21.5%. The increase was primarily due to the increase in promotion expenses. Sales and marketing expenses as a percentage of net revenues were 39.4% in the second quarter of 2026.General and administrative expenses were RMB14.1 million (US$2.1 million) in the second quarter of 2026, representing a year-over-year decrease of 20.3%. The decrease was primarily due to the decrease in general and administrative personnel related expenses. General and administrative expenses as a percentage of net revenues were 10.2% in the second quarter of 2026.Loss from operations was RMB6.1 million (US$0.9 million) in the second quarter of 2026, compared to an income from operations of RMB7.1 million in the second quarter of 2025. Non-GAAP[2] loss from operations, which excluded share-based compensation expenses and amortization of acquired intangible assets, was RMB4.6 million (US$0.7 million) in the second quarter of 2026.Net income was RMB0.3 million (US$50.8 thousand) in the second quarter of 2026, compared to a net income of RMB14.1 million in the second quarter of 2025. Non-GAAP net income, which excluded share-based compensation expenses and amortization of acquired intangible assets, was RMB1.9 million (US$0.3 million) in the second quarter of 2026.Net income attributable to ordinary shareholders of Tuniu Corporation was RMB0.7 million (US$0.1 million) in the second quarter of 2026, compared to a net income attributable to ordinary shareholders of Tuniu Corporation of RMB14.5 million in the second quarter of 2025. Non-GAAP net income attributable to ordinary shareholders of Tuniu Corporation, which excluded share-based compensation expenses and amortization of acquired intangible assets, was RMB2.2 million (US$0.3 million) in the second quarter of 2026.As of June 30, 2026, the Company had cash and cash equivalents, restricted cash, short-term investments and long-term deposits of RMB1.0 billion (US$151.5 million).[1] The conversion of Renminbi ("RMB") into United States dollars ("US$") is based on the exchange rate of US$1.00=RMB 6.7851 on June 30, 2026 as set forth in H.10 statistical release of the U.S. Federal Reserve Board and available at https://www.federalreserve.gov/releases/h10/default.htm.[2] The section below entitled "About Non-GAAP Financial Measures" provides information about the use of Non-GAAP financial measures in this press release, and the table captioned "Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this press release reconciles Non-GAAP financial information with the Company's financial results under GAAP.Business OutlookFor the third quarter of 2026, Tuniu expects to generate RMB202.1 million to RMB212.2 million of net revenues, which represents a 0% to 5% increase year-over-year compared with net revenues in the corresponding period in 2025. This forecast reflects Tuniu's current and preliminary view on the industry and its operations, which is subject to change.Share Repurchase UpdateIn August 2025, the Company's Board of Directors authorized a share repurchase program under which the Company may repurchase up to US$10 million worth of its ordinary shares or American depositary shares ("ADSs") representing ordinary shares.Effective April 22, 2026, the Company changed its ADS ratio from the previous ratio of one (1) ADS representing three (3) Class A ordinary shares to the current ratio of one (1) ADS representing thirty (30) Class A ordinary shares.As of July 31, 2026, the Company had repurchased an aggregate of approximately 0.7 million ADSs (on a post-ratio change basis) for approximately US$5.2 million from the open market under the share repurchase program.Conference Call InformationTuniu's management will hold an earnings conference call at 8:00 am U.S. Eastern Time, on August 25, 2026, (8:00 pm, Beijing/Hong Kong Time, on August 25, 2026) to discuss the second quarter 2026 financial results.To participate in the conference call, please dial the following numbers:United States1-888-346-8982Hong Kong800-905945Chinese mainland4001-201203International1-412-902-4272Conference ID: Tuniu 2Q 2026 Earnings Conference CallA telephone replay will be available one hour after the end of the conference call through September 1, 2026. The dial-in details are as follows:United States1-855-669-9658International1-412-317-0088Replay Access Code: 3938540Additionally, a live and archived webcast of the conference call will also be available on the Company's investor relations website at http://ir.tuniu.com.About TuniuTuniu (NASDAQ: TOUR) is a leading online leisure travel company in China that offers integrated travel service with a large selection of packaged tours, including organized and self-guided tours, as well as travel-related services for leisure travelers through its website tuniu.com and mobile platform. Tuniu provides one-stop leisure travel solutions and a compelling customer experience through its online platform and offline service network, including a dedicated team of professional customer service representatives, 24/7 call centers, extensive networks of offline retail stores and self-operated local tour operators. For more information, please visit http://ir.tuniu.com.Safe Harbor StatementThis press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Tuniu may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about Tuniu's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but are not limited to the following: Tuniu's goals and strategies; the growth of the online leisure travel market in China; the demand for Tuniu's products and services; its relationships with customers and travel suppliers; Tuniu's ability to offer competitive travel products and services; Tuniu's future business development, results of operations and financial condition; competition in the online travel industry in China; government policies and regulations relating to Tuniu's structure, business and industry; the impact of health epidemics on Tuniu's business operations, the travel industry and the economy of China and elsewhere generally; and the general economic and business condition in China and elsewhere. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Tuniu does not undertake any obligation to update such information, except as required under applicable law.About Non-GAAP Financial MeasuresTo supplement the Company's unaudited consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), the Company has provided non-GAAP information related to income/(loss) from operations, net income/(loss), net income/(loss) attributable to ordinary shareholders of Tuniu Corporation, which excludes share-based compensation expenses and amortization of acquired intangible assets. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We believe that the non-GAAP financial measures used in this press release are useful for understanding and assessing underlying business performance and operating trends, and management and investors benefit from referring to these non-GAAP financial measures in assessing our financial performance and when planning and forecasting future periods.These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore its comparability may be limited. The Company compensates for these limitations by reconciling these non-GAAP financial measures to the nearest U.S. GAAP performance measures, all of which should be considered when evaluating performance. Tuniu encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this press release.(Financial Tables Follow)Tuniu CorporationUnaudited Condensed Consolidated Balance Sheets(All amounts in thousands, except per share information) December 31, 2025 Jun 30, 2026 Jun 30, 2026 RMB RMB US$ ASSETSCurrent assetsCash and cash equivalents207,228261,46238,535Restricted cash 10,2225,302781Short-term investments853,704716,027105,529Accounts receivable, net66,83467,1319,894Amounts due from related parties1,29314321Prepayments and other current assets 157,558137,90220,324Total current assets1,296,8391,187,967175,084Non-current assetsLong-term investments227,012206,34030,411Property and equipment, net18,86018,0012,653Intangible assets, net19,64518,1922,681Operating lease right-of-use assets, net6,8736,150906Other non-current assets30,75432,1134,733Total non-current assets303,144280,79641,384Total assets1,599,9831,468,763216,468LIABILITIES AND EQUITYCurrent liabilitiesShort-term borrowings35--Accounts and notes payable 219,440278,25141,009Amounts due to related parties9807,8751,161Salary and welfare payable19,59419,2312,834Taxes payable4,0771,245183Advances from customers184,461134,58719,836Operating lease liabilities, current3,3403,710547Accrued expenses and other current liabilities204,388167,29624,656Total current liabilities636,315612,19590,226Non-current liabilitiesOperating lease liabilities, non-current1,023910134Deferred tax liabilities4,5344,247626Total non-current liabilities5,5575,157760Total liabilities641,872617,35290,986EquityOrdinary shares21921632Less: Treasury stock(82,474)(77,370)(11,403)Additional paid-in capital9,122,1199,035,4301,331,658Accumulated other comprehensive income307,446298,57244,004Accumulated deficit(8,317,009)(8,332,443)(1,228,051)Total Tuniu Corporation shareholders' equity1,030,301924,405136,240Noncontrolling interests(72,190)(72,994)(10,758)Total equity958,111851,411125,482Total liabilities and equity1,599,9831,468,763216,468The Company announced on June 5, 2026 its unaudited financial results for the first quarter of 2026 (the "Q1 2026 Earning Release"). The Company has since identified an omission during the period end financial closing process for the first quarterof 2026 to account for the cash dividend declared by its board of directors in March 2026 (the "Dividend"). Accordingly, the Company is correcting its Q1 2026 Earning Release to reflect the Dividend as a liability as of March 31, 2026, which increasesaccrued expenses and other current liabilities by RMB88.9 million and decreases additional paid-in capital by RMB88.9 million,as of March 31, 2026. The correction does not affect the Company's total assets or its total liabilities and shareholders' equity in the aggregate as of March 31, 2026. Because the correction relates to the recognition of a dividend obligation, which is recorded as a reduction of shareholders' equity rather than as an expense, it does not affect the Company's unaudited consolidated statements of comprehensive (loss)/income for the period, including net (loss)/income per ordinary share - basicand diluted or net (loss)/income per ADS - basic and diluted.Tuniu CorporationUnaudited Condensed Consolidated Statements of Comprehensive (Loss)/Income(All amounts in thousands, except per share information) Quarter Ended Quarter Ended Quarter Ended Quarter Ended Jun 30, 2025 Mar 31, 2026 Jun 30, 2026 Jun 30, 2026 RMB RMB RMB US$RevenuesPackaged tours113,404109,675121,09917,848Others21,45022,91417,8212,626Net revenues134,854132,589138,92020,474Cost of revenues(48,865)(59,033)(62,479)(9,208)Gross profit85,98973,55676,44111,266Operating expensesResearch and product development(16,403)(13,556)(13,817)(2,036)Sales and marketing(45,019)(50,488)(54,702)(8,062)General and administrative(17,760)(13,483)(14,148)(2,085)Other operating income31222314221Total operating expenses(78,870)(77,304)(82,525)(12,162)Income/(loss) from operations7,119(3,748)(6,084)(896)Other (expenses)/incomeInterest and investment income, net7,2795,6924,654686Interest expense(583)(211)(33)(5)Foreign exchange (losses)/ income, net(804)3282,177321Other loss, net(55)(2,847)(662)(98)Income/(loss) before income tax expense12,956(786)528Income tax expense(274)(100)(250)(37)Equity in income of affiliates1,4231,11254380Net income14,10522634551Net loss attributable to noncontrolling interests(421)(440)(364)(54)Net income attributable to ordinary shareholders of TuniuCorporation14,526666709105Net income14,10522634551Other comprehensive loss:Foreign currency translation adjustment, net of nil tax(1,625)(4,064)(4,810)(709)Comprehensive income/(loss)12,480(3,838)(4,465)(658)Net income per ordinary share attributable to ordinaryshareholders - basic and diluted0.040.000.000.00Net income per ADS - basic*1.270.000.070.01Net income per ADS - diluted*1.260.000.070.01Weighted average number of ordinary shares used in computingbasic income per share343,694,559326,212,384322,258,097322,258,097Weighted average number of ordinary shares used in computingdiluted income per share345,928,965328,033,049323,974,327323,974,327Weighted average number of ADSs used in computing basicincome per share11,456,48510,873,74610,741,93710,741,937Weighted average number of ADSs used in computing dilutedincome per share11,530,96610,934,43510,799,14410,799,144Share-based compensation expenses included are as follows：Cost of revenues6563629Research and product development6563629Sales and marketing3230304General and administrative1,2441,191772114Total1,4061,347926136*The Company changed the ratio of its ADSs to its Class A ordinary shares from the previous ratio of one (1) ADS representing three (3) Class A ordinary shares tocurrent ratio of one (1) ADS representing thirty (30) Class A ordinary shares, effective April 22, 2026. Net (loss)/income per ADS - basic and diluted has beenretroactively adjusted for all periods presented to reflect the current ADS ratio.Reconciliations of GAAP and Non-GAAP Results(All amounts in thousands, except per share information) Quarter Ended Jun 30, 2026 GAAP Result Share-based Amortization of acquired Non-GAAP Compensation intangible assets Result Loss from operations(6,084)926591(4,567)Net income3459265911,862Net income attributable to ordinary shareholders7099265912,226 Quarter Ended Mar 31, 2026 GAAP Result Share-based Amortization of acquired Non-GAAP Compensation intangible assets ResultLoss from operations(3,748)1,347591(1,810)Net income2261,3475912,164Net income attributable to ordinary shareholders6661,3475912,604 Quarter Ended Jun 30, 2025 GAAP Result Share-based Amortization of acquired Non-GAAP Compensation intangible assets Result Income from operations7,1191,4065919,116Net income14,1051,40659116,102Net income attributable to ordinary shareholders14,5261,40659116,523