revenue
202.1–212.2 $million
Q3 2026
official guidance
TUNIU CORPORATION
Last · NASDAQ$4.95-0.02 (-0.40%)close · yahoo · 16h ago
Market cap$53.78M10.3M sh
P/E · TTM19.0fwd 16.6 · eps 0.26
Beta0.35vs S&P 500
Div yield24.08%annual · TTM
52w range
$4.53$8.72
Volume1.8Ksession
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OpenFilings analyst
Our analyst
Agentic read of the latest earnings call — recommendation updates when we process a new transcript. Research synthesis, not investment advice.
Strong BuyBuyHoldSellStrong Sell
Cash strength and product growth are offset by deteriorating profitability and limited forward growth visibility.
Tuniu’s quarter is a hold, not a buy:
revenue rose only 3% to RMB 138.9 million, while gross profit fell 11% to RMB 76.4 million and attributable net income dropped to RMB 0.7 million from RMB 14.5 million. Organized tours grew 6.8% and cash reached RMB 1 billion, but weaker outbound travel, lower-margin self-guided products, sharply higher promotion costs, and Q3 guidance of only 0%-5% growth leave the earnings recovery unproven.
Themes
- Revenue Guidance
- Profitability
- Outbound Travel
- Organized Tours
- Offline Stores
- Live Streaming
Near term
Q3 revenue guidance of RMB 202.1 million-RMB 212.2 million implies only 0%-5% year-over-year growth; the range is vulnerable to continued outbound destination weakness.
September long-haul outbound bookings have surpassed prior-year levels, but Middle East and Africa transaction volume was down more than 20% in Q2 and the Middle East remained negative in July.
Management declined to provide a specific profit outlook, saying only that it would try to achieve profitability for another quarter.
The US$5.2 million ADS repurchase, representing 700,000 ADSs, provides some technical support but does not resolve the earnings decline.
Longer term
Organized tours, small-group products, private tours, and premium packages could improve mix if demand scales; the Singapore private-tour package launched in late June has exceeded RMB 10 million in sales to date.
Approximately 500 offline stores and live-streaming partnerships are producing double-digit transaction or payment-volume growth, but the call did not quantify their revenue contribution or profitability.
AI workflow automation and the upgraded Xiao Niu assistant may lower operating costs and improve conversion, but management provided no measurable savings, adoption, or incremental revenue targets.
The key structural issue is mix: domestic Hotel + X and other self-guided products are growing faster but are usually less profitable than organized tours, while outbound travel remains exposed to geopolitical and destination-specific shocks.
Red flags
Gross profit declined despite revenue growth, with cost of revenues rising 27.9% to RMB 62.5 million, or 45% of revenue.
Sales and marketing expenses jumped 21.5% to RMB 54.7 million due to higher promotion spending, consuming much of the benefit from packaged-tour growth.
Other revenue fell 16.9% overall and was described in Q&A as down about 70% year over year because tourism-board advertising activity and fees declined.
The analyst explicitly asked about profitability, but management offered no quarterly profit guidance and only a broad aspiration to remain profitable.
Non-GAAP net income attributable to ordinary shareholders was just RMB 2.2 million, leaving little cushion if promotional spending, product mix, or outbound demand deteriorates.
Forward outlook
revenue growth
0–5 pct
Q3 2026
official guidance
OpenFilings analyst view from primary-source filings and earnings calls — not investment advice.
Earnings transcripts
- Motley Fool
Tuniu (TOUR) Q2 2026 Earnings Call Transcript
TUNIU CORPORATION
- Issuer webcast
Q2 2019 Tuniu Corp Earnings Conference Call
TUNIU CORPORATION
- Issuer webcast
Q1 2019 Tuniu Corp Earnings Conference Call
TUNIU CORPORATION
- Issuer webcast
Q4 and FY2018 Tuniu Corp Earnings Conference Call
TUNIU CORPORATION
- Issuer webcast
Q3 2018 Tuniu Corp Earnings Conference Call
TUNIU CORPORATION
- Issuer webcast
Q2 2018 Tuniu Corp Earnings Conference Call
TUNIU CORPORATION