Tuniu Corp. Q4 FY2024 earnings call

• 2024 was a year with achievements, achieving first GAAP profit for the full-year since listing. Non-GAAP net income grew by over 70% year-over-year. - Board approved a special cash dividend in March 2025 and spent over $6.2 million on share repurchases in 2024, returning ~$10 million to shareholders. - Committed to product innovation: launched Niu Select products, upgraded Niu Tour with private/small group tours, zero shopping policy, and plan to introduce premium customized products. - Expanded channels: live streaming products and destination coverage expanded, off-line stores transaction volume grew over 50% year-over-year. - Invested in technology: see potential in combining large language model agents with tourism for improved user experience and operational efficiency.

For the fourth quarter of 2024, net revenues were RMB102.7 million. Revenues from packaged tours were RMB75.4 million, accounting for 73% of total net revenues, and other revenues were RMB27.3 million, accounting for 27%. For full-year 2024, net revenues were RMB513.6 million. Revenues from packaged tours were RMB407.5 million, accounting for 79% of total net revenues, and other revenues were RMB106.2 million, accounting for 21%.

• Expects first quarter 2025 net revenues to be RMB116.6 million to RMB122 million, up 8%-13% year-over-year. - In 2025, focus on product upgrading and innovation for core products, like more in-depth single destination tours for Niu Tour. - Continue expanding sales channels, including increasing off-line stores and leveraging live streaming. - Invest in AI agent technology to enhance user experience and operational efficiency. - Aims for profitable year in 2025, with Q3 expected to be the peak season contributing most of annual profit.

Q: Please share projections for 2025 revenue and profit, key drivers for revenue growth, and if profitability will be maintained.

A: In 2025, total travel market continues to grow but competition intensifies. Will adopt high-quality business development strategy. Product side: invest in product upgrading/innovation for core products like more in-depth single destination tours for Niu Tour. Sales side: expand sales channel diversity, increase off-line stores, leverage live streaming. Technology side: focus on AI agent to enhance user experience and operational efficiency. Aiming for profitable year in 2025, with Q3 expected to be peak season contributing most of annual profit.