2022 Q3 Outcomes Highlights
- Income elevated by 5.6% year-to-year to RMB2,048.0 million
- Adjusted EBITDA amounted to RMB462.2 million
- Adjusted internet revenue amounted to RMB251.7 million, representing an adjusted internet margin of 12.3%
- Income from lodging reservation providers elevated by 26.9% year-to-year to RMB818.7 million
- Home resort room nights bought in lower-tier cities elevated by 10% year-to-year
- Bus ticketing quantity surged by over 100%
- Variety of common month-to-month lively customers (“MAUs”) elevated by 1.7% to a historic excessive of 281.5 million
- Variety of common month-to-month paying customers (“MPUs”) elevated by 9.5% year-to-year to a document excessive of 36.8 million
- Variety of annual paying customers (“APUs”) elevated from 196.1 million to 200.5 million when in comparison with the identical interval final 12 months
Mr. Ma Heping, Government Director and CEO of Tongcheng Journeymentioned, “The China home journey business skilled a excessive diploma of fluctuations in 2022 Q3. Tongcheng Journey reacted swiftly to market modifications, maintained enterprise resilience via changes in enterprise methods, value management measures, and effectivity optimization. We continued to ship spectacular consumer progress, particularly in lower-tier cities, to pave the best way for sustainable progress when the outbreaks stabilize.”
Throughout the interval beneath evaluation, each common MAUs and common MPUs of the Group reached historic excessive, with the typical MAUs posting a 1.7% enhance to 281.5 million and common MPUs rising by 9.5% year-to-year to 36.8 million. APUs elevated by 2.2% year-to-year to 200.5 million. Paying ratio elevated to 13.1%. Revenues from the lodging enterprise additionally reached document excessive, whereas the bus ticketing companies registered a powerful quantity progress of over 100%.
Strengthened Model Recognition Amongst Youthful Era
Throughout the interval beneath evaluation, Tongcheng Journey continued to discover completely different situations inside the Tencent ecosystem to boost the model consciousness and strengthen interactions with customers. It organized a number of e-Sports activities occasions utilizing common IP rights entitled by Tencent. Moreover, Tongcheng Journey cooperated with Weixin Video Account and launched live-streaming occasions to strengthen interactions with customers. It additionally cooperated with Shanxi Provincial Division of Tradition and Tourism and co-launched a collection of “blind field” themed advertising and marketing actions to complement the campus card venture and supply college college students with extra advantages and privileges, as a way to enhance the model publicity among the many youthful technology.
Deepened Penetration in Decrease-tier Cities
Tongcheng Journey additional solidified its main place within the China On-line Journey Company (“OTA”) market, striving to grab extra alternatives within the under-penetrated lower-tier metropolis market. The Firm additional penetrated the lower-tier cities leveraging its strategic cooperation with city and rural bus operators. It additionally cultivated various consumer acquisition channels by additional exploring mobility situations and tapping into public transit corresponding to metro and intra-city bus in a number of cities. As of 30 September 2022, the registered customers residing in non-first-tier cities in China accounted for about 86.7% of the whole registered customers. Round 60% of latest paying customers on the Weixin platform throughout 2022 Q3 have been from tier-3 and under cities in China.
Promoted Business Digitalization
Tongcheng Journey continued to leverage its technological functionality to rework from OTA to ITA (“Clever Journey Assistant”). The Firm additional optimized its Huixing system’s show interface to supply clever journey options to deal with the transportation ticketing provide scarcity particularly through the pandemic. Moreover, the Firm additional expanded strategic cooperation with 4 airports beneath the China West Airport Group to discover cooperation on digitalization building, product and repair improvement in addition to advertising and marketing actions. It additionally contributed to the digitization of the bus ticketing business by deploying the bus ticketing system and good ticketing tools nationwide. Tongcheng Journey has additional developed the resort SaaS system, serving to extra hospitality business operators to enhance their operations and administration effectivity by increasing the service scope from impartial resorts and small- and medium-sized chain resorts to various lodging.
Achieved Highest ESG Score Amongst Resort and Journey Business Gamers
In September 2022, Tongcheng Journey’s MSCI ESG score was upgraded to “AA”, which is the very best MSCI ESG score obtained by world resort and journey business gamers, reflecting the Group’s excellent enhancements in company governance and labor administration.
Throughout the interval beneath evaluation, the Firm utilized its business sources and labored with Suzhou native authorities to construct a rural resort vacation spot. It additionally deepened the cooperation with Yan’an and different native governments to advertise native produce leveraging its business experience and robust site visitors to help native economic system.
Going ahead, Tongcheng Journey will proceed to make the most of its innovation capabilities to boost services and products, aiming to rework from OTA to ITA. Concurrently, it is going to put extra emphasis on company governance, environmental safety, and social accountability to generate long-term sustainable worth for stakeholders and the communities it serves.
The issuer is solely answerable for the content material of this announcement.
About Tongcheng Journey Holdings Restricted (HKSE Inventory Code: 0780.HK)
Tongcheng Journey (previously referred to as Tongcheng-Elong) is an innovator and market chief in China’s on-line journey business. It was shaped out of the merger of Tongcheng and eLong, the main on-line journey companies in China, in 2018. It’s a one-stop store for customers’ journey wants. With the mission “make journey simpler and extra joyful”, Tongcheng Journey presents a complete and modern collection of services and products masking practically all points of journey, together with transportation ticketing, lodging reservation, vacationer attraction ticketing, and varied ancillary value-added journey merchandise. and providers designed to satisfy customers’ evolving journey wants all through their journeys primarily via its on-line platforms, which comprise its Tencent-based platforms, its proprietary cellular apps, fast apps and different channels.
As a technology-driven firm, Tongcheng Journey leverages massive knowledge and AI capabilities to raised perceive the preferences and behaviors of customers, thereby providing customers personalized services and products. Tongcheng Journey has a strategic give attention to lower-tier cities in China and seized alternatives there supported by its diversified site visitors sources, product innovation functionality and versatile operation methods. By the in-depth understanding of consumer expertise and superior technological capabilities, Tongcheng Journey has been revolutionizing what customers anticipate from the net journey business, making your entire journey course of extra handy, customized and gratifying than ever. Tongcheng Journey goals to develop and apply its superior expertise to rework from a web based journey company to clever journey assistant.
For extra data, please go to the Group’s web site at https://www.tongchengir.com