Tuniu Announces Unaudited Fourth Quarter and Fiscal Year 2024 Financial Results and Cash Dividend
NANJING, China, March 14, 2025 /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 fourth quarter and fiscal year ended December 31, 2024.
Highlights for the Fiscal Year 2024
-- Revenues from package tours in 2024 increased by 22.2% year-over-year to
RMB407.5 million (US$55.8 million([1])).
-- Gross profit in 2024 increased by 21.9% year-over-year to RMB358.0
million (US$ 49.1million).
-- Income from operations was RMB63.3 million (US$8.7 million) in 2024,
compared to a loss from operations of RMB101.9 million in 2023.
Non-GAAP([2]) income from operations was RMB66.9 million (US$9.2
million) in 2024, compared to a Non-GAAP income from operations of
RMB50.0 million in 2023.
-- Net income was RMB83.7 million (US$11.5 million) in 2024, compared to a
net loss of RMB101.1 million in 2023. Non-GAAP net income was RMB87.3
million (US$12.0 million) in 2024, compared to a Non-GAAP net income of
RMB50.8 million in 2023.
"2024 was a year of significant achievements for Tuniu." said Mr. Donald Dunde Yu, Tuniu's founder, Chairman and Chief Executive Officer. "On the product side, we strengthened our supply chain and introduced more new products and product lines. In terms of sales, we embraced new media channels and adopted an open approach, collaborating with both online and offline partners to explore new scenarios and opportunities. On the financial side, we achieved our first full-year GAAP profit since our listing on Nasdaq, while non-GAAP net income reached a record high. In 2025, we will continue to focus on innovation and high-quality development."
Fourth Quarter 2024 Results
Net revenues were RMB102.7 million (US$14.1 million) in the fourth quarter of 2024, representing a year-over-year increase of 2.8% from the corresponding period in 2023.
-- Revenues from packaged tours were RMB75.4 million (US$10.3 million) in
the fourth quarter of 2024, representing a year-over-year increase of
2.8% from the corresponding period in 2023. The increase was primarily
due to the growth of organized tours.
-- Other revenues were RMB27.3 million (US$3.7 million) in the fourth
quarter of 2024, representing a year-over-year increase of 2.7% from the
corresponding period in 2023. The increase was primarily due to the
increase in the fees for advertising services provided to tourism boards
and bureaus.
Cost of revenues was RMB32.9 million (US$4.5 million) in the fourth quarter of 2024, representing a year-over-year increase of 30.1% from the corresponding period in 2023. As a percentage of net revenues, cost of revenues was 32.1% in the fourth quarter of 2024, compared to 25.3% in the corresponding period in 2023.
Gross profit was RMB69.8 million (US$9.6 million) in the fourth quarter of 2024, representing a year-over-year decrease of 6.5% from the corresponding period in 2023.
Operating expenses were RMB82.5 million (US$11.3 million) in the fourth quarter of 2024, representing a year-over-year decrease of 58.3 % from the corresponding period in 2023. The decrease was primarily due to the impairment of goodwill of RMB114.7 million recorded in the corresponding period in 2023.
-- Research and product development expenses were RMB13.3 million (US$1.8
million) in the fourth quarter of 2024, representing a year-over-year
increase of 27.8%. The increase was primarily due to the increase in
research and product development personnel related expenses. Research
and product development expenses as a percentage of net revenues were
13.0% in the fourth quarter of 2024, increasing from 10.4% as a
percentage of net revenues in the corresponding period in 2023.
-- Sales and marketing expenses were RMB42.7 million (US$5.8 million) in
the fourth quarter of 2024, representing a year-over-year increase of
28.5%. The increase was primarily due to the increase in sales and
marketing personnel related expenses and promotion expenses. Sales and
marketing expenses as a percentage of net revenues were 41.6% in the
fourth quarter of 2024, increasing from 33.2% as a percentage of net
revenues in the corresponding period in 2023.
-- General and administrative expenses were RMB26.8 million (US$3.7
million) in the fourth quarter of 2024, representing a year-over-year
decrease of 36.2%. 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 26.1% in
the fourth quarter of 2024, decreasing from 42.1% as a percentage of net
revenues in the corresponding period in 2023.
Loss from operations was RMB12.7 million (US$1.7 million) in the fourth quarter of 2024, compared to a loss from operations of RMB123.4 million in the fourth quarter of 2023. Non-GAAP income from operations, which excluded share-based compensation expenses, amortization of acquired intangible assets and impairment of property and equipment, net, was RMB5.1 million (US$0.7 million) in the fourth quarter of 2024.
Net loss was RMB25.1 million (US$3.4 million) in the fourth quarter of 2024, compared to a net loss of RMB132.9 million in the fourth quarter of 2023. Non-GAAP net loss, which excluded share-based compensation expenses, amortization of acquired intangible assets and impairment of property and equipment, net, was RMB7.2 million (US$1.0 million) in the fourth quarter of 2024.
Net loss attributable to ordinary shareholders of Tuniu Corporation was RMB24.2 million (US$3.3 million) in the fourth quarter of 2024, compared to a net loss attributable to ordinary shareholders of Tuniu Corporation of RMB132.3 million in the fourth quarter of 2023. Non-GAAP net loss attributable to ordinary shareholders of Tuniu Corporation, which excluded share-based compensation expenses, amortization of acquired intangible assets and impairment of property and equipment, net, was RMB6.4 million (US$0.9 million) in the fourth quarter of 2024.
As of December 31, 2024, the Company had cash and cash equivalents, restricted cash, short-term investments and long-term time deposits of RMB1.3 billion (US$173.6 million).
Fiscal Year 2024 Results
Net revenues were RMB513.6 million (US$70.4 million) in 2024, representing a year-over-year increase of 16.4% from 2023.
-- Revenues from packaged tours were RMB407.5 million (US$55.8 million) in
2024, representing a year-over-year increase of 22.2% from 2023. The
increase was primarily due to the growth of organized tours.
-- Other revenues were RMB106.2 million (US$14.5 million) in 2024,
representing a year-over-year decrease of 1.6% from 2023. The decrease
was primarily due to the decrease in revenues generated from financial
services.
Cost of revenues was RMB155.6 million (US$21.3 million) in 2024, representing a year-over-year increase of 5.4% from 2023. As a percentage of net revenues, cost of revenues was 30.3% in 2024 compared to 33.4% in 2023.
Gross profit was RMB358.0 million (US$49.1million) in 2024, representing a year-over-year increase of 21.9% from 2023.
Operating expenses were RMB294.8 million (US$40.4 million) in 2024, representing a year-over-year decrease of 25.5% from 2023. The decrease was primarily due to the impairment of goodwill of RMB114.7 million recorded in 2023.
-- Research and product development expenses were RMB52.7 million (US$7.2
million) in 2024, representing a year-over-year decrease of 7.5%. 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 10.3% in 2024, decreasing
from 12.9% as a percentage of net revenues in 2023.
-- Sales and marketing expenses were RMB180.3 million (US$24.7 million) in
2024, representing a year-over-year increase of 53.2%. The increase was
primarily due to the increase in promotion expenses. Sales and marketing
expenses as a percentage of net revenues were 35.1% in 2024, increasing
from 26.7% as a percentage of net revenues in 2023.
-- General and administrative expenses were RMB87.7 million (US$12.0
million) in 2024, representing a year-over-year decrease of 22.6%. 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 17.1% in 2024, decreasing from 25.7% as
a percentage of net revenues in 2023.
Income from operations was RMB63.3 million (US$8.7 million) in 2024, compared to a loss from operations of RMB101.9 million in 2023. Non-GAAP income from operations, which excluded share-based compensation expenses, amortization of acquired intangible assets, net gain on disposals of subsidiaries and impairment of property and equipment, net, was RMB66.9 million (US$9.2 million) in 2024.
Net income was RMB83.7 million (US$11.5 million) in 2024, compared to a net loss of RMB101.1 million in 2023. Non-GAAP net income, which excluded share-based compensation expenses, amortization of acquired intangible assets, net gain on disposals of subsidiaries and impairment of property and equipment, net, was RMB87.3 million (US$12.0 million) in 2024.
Net income attributable to ordinary shareholders of Tuniu Corporation was RMB77.2 million (US$10.6 million) in 2024, compared to a net loss attributable to ordinary shareholders of Tuniu Corporation of RMB99.3 million in 2023. Non-GAAP net income attributable to ordinary shareholders of Tuniu Corporation, which excluded share-based compensation expenses, amortization of acquired intangible assets, net gain on disposals of subsidiaries and impairment of property and equipment, net, was RMB80.8 million (US$11.1 million) in 2024.
Business Outlook
For the first quarter of 2025, Tuniu expects to generate RMB116.6 million to RMB122.0 million of net revenues, which represents an 8% to 13% increase year-over-year compared with net revenues in the corresponding period in 2024. This forecast reflects Tuniu's current and preliminary view on the industry and its operations, which is subject to change.
Share Repurchase Update
In March 2024, 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 ("ADS") representing ordinary shares. As of February 28, 2025 the Company had repurchased an aggregate of approximately 7.9 million ADSs for approximately US$7.3 million from the open market under the share repurchase program.
Declaration of Cash Dividend
The Company's Board of Directors has approved and declared a cash dividend of US$0.012 per ordinary share, or US$0.036 per ADS, to holders of ordinary shares and holders of ADSs of record as of the close of business on March 27, 2025, U.S. Eastern Time, payable in U.S. dollars. The total amount of cash to be distributed for the cash dividend is expected to be approximately US$4.2 million. The payment date is expected to be on or around April 17, 2025 for holders of ordinary shares and on or around April 24, 2025 for holders of ADSs. Dividend to be paid to the Company's ADS holders through the depositary bank will be subject to the terms of the deposit agreement.
Conference Call Information
Tuniu's management will hold an earnings conference call at 8:00 am U.S. Eastern Time, on March 14, 2025, (8:00 pm, Beijing/Hong Kong Time, on March 14, 2025) to discuss the fourth quarter and fiscal year 2024 financial results.
To participate in the conference call, please dial the following numbers:
United States 1-888-346-8982
Hong Kong 852-301-84992
Mainland China 4001-201203
International 1-412-902-4272
Conference ID: Tuniu 4Q 2024 Earnings Conference Call
A telephone replay will be available one hour after the end of the conference call through March 21, 2025. The dial-in details are as follows:
United States 1-877-344-7529
International 1-412-317-0088
Replay Access Code: 2263052
Additionally, 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 Tuniu
Tuniu (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 Statement
This 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 fourth 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 Measures
To 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 from operations, net income, net income attributable to ordinary shareholders of Tuniu Corporation, which excludes share-based compensation expenses, amortization of acquired intangible assets, net gain on disposals of subsidiaries, impairment of goodwill and impairment of property and equipment, net. The presentation of this non-GAAP financial measure 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.
This non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as an analytical tool. Further, this non-GAAP measure 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 the non-GAAP financial measure to the nearest U.S. GAAP performance measure, 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.
[1] The conversion of Renminbi ("RMB") into United States dollars ("US$") is based on the exchange rate of US$1.00=RMB 7.2993 on December 31, 2024 as set forth in H.10 statistical release of the U.S. Federal Reserve Board and available at https://www.federalreserve.gov/releases/h10/default.htm.
[2] The section below entitled "About Non-GAAP Financial Measures" provides information about the use of Non-GAAP financial measures in this press release, and the table captioned "Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this press release reconciles Non-GAAP financial information with the Company's financial results under GAAP.
Tuniu Corporation
Unaudited Condensed Consolidated Balance Sheets
(All amounts in thousands, except per share information)
December 31, 2023 December 31, 2024 December 31, 2024
RMB RMB US$
ASSETS
Current assets
Cash and cash equivalents 378,989 465,004 63,705
Restricted cash 65,902 26,061 3,570
Short-term investments 777,890 432,823 59,297
Accounts receivable, net 41,633 43,313 5,934
Amounts due from related parties 9,515 752 103
Prepayments and other current assets 234,189 235,443 32,256
Total current assets 1,508,118 1,203,396 164,865
Non-current assets
Long-term investments 209,819 534,041 73,163
Property and equipment, net 57,479 32,849 4,500
Intangible assets, net 26,091 22,210 3,043
Land use right, net 90,529 88,467 12,120
Operating lease right-of-use assets, net 12,484 9,266 1,269
Other non-current assets 55,960 19,208 2,631
Total non-current assets 452,362 706,041 96,726
Total assets 1,960,480 1,909,437 261,591
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Current liabilities
Short-term borrowings 7,277 36 5
Accounts and notes payable 317,104 290,112 39,745
Amounts due to related parties 6,405 3,121 428
Salary and welfare payable 21,401 23,148 3,171
Taxes payable 4,305 5,060 693
Advances from customers 270,197 247,151 33,860
Operating lease liabilities, current 2,709 2,994 410
Accrued expenses and other current liabilities 329,481 322,034 44,117
Total current liabilities 958,879 893,656 122,429
Non-current liabilities
Operating lease liabilities, non-current 5,348 1,680 230
Deferred tax liabilities 6,027 5,151 706
Long-term borrowings 10,395
Total non-current liabilities 21,770 6,831 936
Total liabilities 980,649 900,487 123,365
Redeemable noncontrolling interests 27,200
Equity
Ordinary shares 249 249 34
Less: Treasury stock (285,983) (329,668) (45,164)
Additional paid-in capital 9,138,720 9,146,928 1,253,124
Accumulated other comprehensive income 305,416 313,460 42,944
Accumulated deficit (8,127,552) (8,050,378) (1,102,897)
Total Tuniu Corporation shareholders' equity 1,030,850 1,080,591 148,041
Noncontrolling interests (78,219) (71,641) (9,815)
Total equity 952,631 1,008,950 138,226
Total liabilities, redeemable noncontrolling interests and equity 1,960,480 1,909,437 261,591
Tuniu Corporation
Unaudited Condensed Consolidated Statements of Comprehensive (Loss)/Income
(All amounts in thousands, except per share information)
Quarter Ended Quarter Ended Quarter Ended Quarter Ended
December 31, 2023 September 30, 2024 December 31, 2024 December 31, 2024
RMB RMB RMB US$
Revenues
Packaged tours 73,382 159,289 75,440 10,335
Others 26,564 26,706 27,292 3,739
Net revenues 99,946 185,995 102,732 14,074
Cost of revenues (25,309) (64,212) (32,935) (4,512)
Gross profit 74,637 121,783 69,797 9,562
Operating expenses
Research and product development (10,426) (13,640) (13,325) (1,826)
Sales and marketing (33,230) (60,578) (42,697) (5,849)
General and administrative (42,072) (18,600) (26,841) (3,677)
Impairment of goodwill (114,661)
Other operating income 2,401 202 369 51
Total operating expenses (197,988) (92,616) (82,494) (11,301)
(Loss)/income from operations (123,351) 29,167 (12,697) (1,739)
Other (expenses)/income
Interest and investment (loss)/income, net (15,151) 7,213 (5,609) (768)
Interest expense (1,056) (865) (612) (84)
Foreign exchange gains/(losses), net 3,172 1,115 (6,102) (836)
Other income, net 2,499 6,931 49 7
(Loss)/income before income tax expense (133,887) 43,561 (24,971) (3,420)
Income tax benefit/(expense) 103 (159) (283) (39)
Equity in income of affiliates 866 464 188 26
Net (loss)/income (132,918) 43,866 (25,066) (3,433)
Net loss attributable to noncontrolling interests (583) (582) (859) (118)
Net (loss)/income attributable to ordinary shareholders of Tuniu (132,335) 44,448 (24,207) (3,315)
Corporation
Net (loss)/income (132,918) 43,866 (25,066) (3,433)
Other comprehensive (loss)/income:
Foreign currency translation adjustment, net of nil tax (5,848) (6,859) 8,568 1,174
Comprehensive (loss)/income (138,766) 37,007 (16,498) (2,259)
Net (loss)/income per ordinary share attributable to ordinary (0.36) 0.12 (0.07) (0.01)
shareholders - basic and diluted
Net (loss)/income per ADS - basic and diluted* (1.08) 0.36 (0.21) (0.03)
Weighted average number of ordinary shares used in computing 371,526,300 357,427,106 354,106,851 354,106,851
basic (loss)/income per share
Weighted average number of ordinary shares used in computing 371,526,300 359,607,726 354,106,851 354,106,851
diluted (loss)/income per share
Share-based compensation expenses included are as follows
?
Cost of revenues 66 65 66 9
Research and product development 66 65 66 9
Sales and marketing 32 32 32 4
General and administrative 4,912 1,246 1,253 172
Total 5,076 1,408 1,417 194
*Each ADS represents three of the Company's ordinary shares.
Tuniu Corporation
Unaudited Condensed Consolidated Statements of Comprehensive (Loss)/Income
(All amounts in thousands, except per share information)
Year Ended Year Ended Year Ended
December 31, 2023 December 31, 2024 December 31, 2024
RMB RMB US$
Revenues
Packaged tours 333,357 407,462 55,822
Others 107,913 106,160 14,544
Net revenues 441,270 513,622 70,366
Cost of revenues (147,581) (155,590) (21,316)
Gross profit 293,689 358,032 49,050
Operating expenses
Research and product development (56,974) (52,682) (7,217)
Sales and marketing (117,706) (180,321) (24,704)
General and administrative (113,221) (87,657) (12,009)
Impairment of goodwill (114,661)
Other operating income 7,009 25,888 3,547
Total operating expenses (395,553) (294,772) (40,383)
(Loss)/income from operations (101,864) 63,260 8,667
Other income/(expenses)
Interest and investment income 5,689 19,866 2,722
Interest expense (3,525) (3,320) (455)
Foreign exchange losses, net (6,483) (6,837) (937)
Other income, net 7,107 10,081 1,381
(Loss)/income before income tax expense (99,076) 83,050 11,378
Income tax expense (1,441) (837) (115)
Equity in(loss) /income of affiliates (580) 1,486 204
Net (loss)/income (101,097) 83,699 11,467
Net (loss)/income attributable to noncontrolling interests (1,806) 6,525 894
Net (loss)/income attributable to ordinary shareholders of Tuniu (99,291) 77,174 10,573
Corporation
Net (loss)/income (101,097) 83,699 11,467
Other comprehensive income:
Foreign currency translation adjustment, net of nil tax 6,435 8,044 1,102
Comprehensive (loss)/income (94,662) 91,743 12,569
Net (loss)/income per ordinary share attributable to ordinary (0.27) 0.21 0.03
shareholders - basic and diluted
Net (loss)/income per ADS - basic and diluted* (0.81) 0.63 0.09
Weighted average number of ordinary shares used in computing 371,453,164 361,482,355 361,482,355
basic (loss)/income per share
Weighted average number of ordinary shares used in computing 371,453,164 363,718,947 363,718,947
diluted (loss)/income per share
Share-based compensation expenses included are as follows
?
Cost of revenues 217 261 36
Research and product development 217 261 36
Sales and marketing 87 126 17
General and administrative 15,409 8,758 1,200
Total 15,930 9,406 1,289
*Each ADS represents three of the Company's ordinary shares.
Reconciliations of GAAP and Non-GAAP Results
(All amounts in thousands, except per share information)
Quarter Ended December 31, 2024
GAAP Result Share-based Amortization of
acquired Impairment Impairment Non-GAAP
Compensation intangible assets of goodwill of property and equipment,
net Result
(Loss)/income from operations (12,697) 1,417 764 15,641 5,125
Net loss (25,066) 1,417 764 15,641 (7,244)
Net loss attributable to ordinary shareholders (24,207) 1,417 764 15,641 (6,385)
Quarter Ended September 30, 2024
GAAP Result Share-based Amortization of
acquired Impairment Impairment Non-GAAP
Compensation intangible assets of goodwill of property and equipment,
net Result
Income from operations 29,167 1,408 764 31,339
Net income 43,866 1,408 764 46,038
Net income attributable to ordinary shareholders 44,448 1,408 764 46,620
Quarter Ended December 31, 2023
GAAP Result Share-based Amortization of
acquired Impairment Impairment Non-GAAP
Compensation intangible assets of goodwill of property and equipment,
net Result
(Loss)/income from operations (123,351) 5,076 828 114,661 17,986 15,200
Net (loss)/income (132,918) 5,076 828 114,661 17,986 5,633
Net (loss)/income attributable to ordinary shareholders (132,335) 5,076 828 114,661 17,986 6,216
Reconciliations of GAAP and Non-GAAP Results
(All amounts in thousands, except per share information)
Year Ended December 31, 2024
GAAP Result Share-based Amortization of
acquired Net gain on Impairment Impairment Non-GAAP
Compensation intangible assets disposals of of goodwill of property and equipment,
subsidiaries net Result
Income from operations 63,260 9,406 3,184 (24,618) 15,641 66,873
Net income 83,699 9,406 3,184 (24,618) 15,641 87,312
Net income attributable to ordinary shareholders 77,174 9,406 3,184 (24,618) 15,641 80,787
Year Ended December 31, 2023
GAAP Result Share-based Amortization of
acquired Net gain on Impairment Impairment Non-GAAP
Compensation intangible assets disposals of of goodwill of property and equipment,
subsidiaries net Result
(Loss)/income from operations (101,864) 15,930 3,312 114,661 17,986 50,025
Net (loss)/income (101,097) 15,930 3,312 114,661 17,986 50,792
Net (loss)/income attributable to ordinary shareholders (99,291) 15,930 3,312 114,661 17,986 52,598
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SOURCE Tuniu Corporation
