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Chinese OTA Tuniu posts marginal decrease in net revenues in Q3

11/19/2021| 7:49:26 PM| 中文

Net revenues were RMB114.6 million (US$17.8 million) in the third quarter of 2021.

Tuniu Corporation, a major online leisure travel company in China, today announced its unaudited financial results for the third quarter ended September 30, 2021.

Net revenues were RMB114.6 million (US$17.8 million) in the third quarter of 2021, representing a year-over-year decrease of 7.2% from the corresponding period in 2020. The decrease was primarily due to the negative impact brought by the outbreak and spread of COVID-19.

Net loss was RMB36.6 million (US$5.7 million) in the third quarter of 2021, compared to a net loss of RMB62.1 million in the third quarter of 2020. Non-GAAP net loss, which excluded share-based compensation expenses and amortization of acquired intangible assets, was RMB30.9 million (US$4.8 million) in the third quarter of 2021.

Revenues from packaged tours were RMB90.7 million (US$14.1 million) in the third quarter of 2021, representing a year-over-year increase of 5.0% from the corresponding period in 2020. The increase was primarily due to the growth in revenues from self-operated products.

Other revenues were RMB23.9 million (US$3.7 million) in the third quarter of 2021, representing a year-over-year decrease of 35.6% from the corresponding period in 2020. The decrease was primarily due to the decline in commissions received from other travel-related products impacted by the outbreak and spread of COVID-19.

Cost of revenues was RMB74.9 million (US$11.6 million) in the third quarter of 2021, representing a year-over-year increase of 28.1% from the corresponding period in 2020. As a percentage of net revenues, cost of revenues was 65.3% in the third quarter of 2021, compared to 47.3% in the corresponding period in 2020.

For the fourth quarter of 2021, the Company expects to generate RMB53.4 million to RMB65.3 million of net revenues, which represents 45% to 55% decrease year-over-year. This forecast reflects Tuniu's current and preliminary view on the industry and its operations, which is subject to change.

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TAGS: Tuniu | financial report
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