NANJING, China, Aug. 25, 2026 /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 second quarter ended June 30, 2026.
“In the second quarter, we continued to advance our diversified product and sales channel strategy,” said Mr. Donald Dunde Yu, Tuniu’s founder, Chairman and Chief Executive Officer. “We further expanded our product offerings and strengthened our channel presence to better meet customers’ diverse and evolving needs and support the continued healthy growth of our business. At the same time, we adopted more targeted marketing initiatives to increase product conversion and redemption rates. We also continued to improve operational efficiency through the use of AI tools and achieved non-GAAP profitability for the sixth consecutive quarter. Going forward, we will remain focused on creating greater value for our customers and shareholders.”
Second Quarter 2026 Results
Net revenues were RMB138.9 million (US$20.5 million[1]) in the second quarter of 2026, representing a year-over-year increase of 3.0% from the corresponding period in 2025.
Revenues from packaged tours were RMB121.1 million (US$17.8 million) in the second quarter of 2026, representing a year-over-year increase of 6.8% from the corresponding period in 2025. The increase was primarily due to the growth of organized tours.
Other revenues were RMB17.8 million (US$2.6 million) in the second quarter of 2026, representing a year-over-year decrease of 16.9% from the corresponding period in 2025. The decrease was primarily due to the decrease in the fees for advertising services provided to tourism boards and bureaus.
Cost of revenues was RMB62.5 million (US$9.2 million) in the second quarter of 2026, representing a year-over-year increase of 27.9% from the corresponding period in 2025. As a percentage of net revenues, cost of revenues was 45.0% in the second quarter of 2026, compared to 36.2% in the corresponding period in 2025.
Gross profit was RMB76.4 million (US$11.3 million) in the second quarter of 2026, representing a year-over-year decrease of 11.1% from the corresponding period in 2025.
Operating expenses were RMB82.5 million (US$12.2 million) in the second quarter of 2026, representing a year-over-year increase of 4.6% from the corresponding period in 2025.
Research and product development expenses were RMB13.8 million (US$2.0 million) in the second quarter of 2026, representing a year-over-year decrease of 15.8%. 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 9.9% in the second quarter of 2026.
Sales and marketing expenses were RMB54.7 million (US$8.1 million) in the second quarter of 2026, representing a year-over-year increase of 21.5%. The increase was primarily due to the increase in promotion expenses. Sales and marketing expenses as a percentage of net revenues were 39.4% in the second quarter of 2026.
General and administrative expenses were RMB14.1 million (US$2.1 million) in the second quarter of 2026, representing a year-over-year decrease of 20.3%. 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 10.2% in the second quarter of 2026.
Loss from operations was RMB6.1 million (US$0.9 million) in the second quarter of 2026, compared to an income from operations of RMB7.1 million in the second quarter of 2025. Non-GAAP[2] loss from operations, which excluded share-based compensation expenses and amortization of acquired intangible assets, was RMB4.6 million (US$0.7 million) in the second quarter of 2026.
Net income was RMB0.3 million (US$50.8 thousand) in the second quarter of 2026, compared to a net income of RMB14.1 million in the second quarter of 2025. Non-GAAP net income, which excluded share-based compensation expenses and amortization of acquired intangible assets, was RMB1.9 million (US$0.3 million) in the second quarter of 2026.
Net income attributable to ordinary shareholders of Tuniu Corporation was RMB0.7 million (US$0.1 million) in the second quarter of 2026, compared to a net income attributable to ordinary shareholders of Tuniu Corporation of RMB14.5 million in the second quarter of 2025. Non-GAAP net income attributable to ordinary shareholders of Tuniu Corporation, which excluded share-based compensation expenses and amortization of acquired intangible assets, was RMB2.2 million (US$0.3 million) in the second quarter of 2026.
As of June 30, 2026, the Company had cash and cash equivalents, restricted cash, short-term investments and long-term deposits of RMB1.0 billion (US$151.5 million).
[1] The conversion of Renminbi (“RMB”) into United States dollars (“US$”) is based on the exchange rate of US$1.00=RMB 6.7851 on June 30, 2026 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.
Business Outlook
For the third quarter of 2026, Tuniu expects to generate RMB202.1 million to RMB212.2 million of net revenues, which represents a 0% to 5% increase year-over-year compared with net revenues in the corresponding period in 2025. This forecast reflects Tuniu’s current and preliminary view on the industry and its operations, which is subject to change.
Share Repurchase Update
In August 2025, 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 (“ADSs”) representing ordinary shares.
Effective April 22, 2026, the Company changed its ADS ratio from the previous ratio of one (1) ADS representing three (3) Class A ordinary shares to the current ratio of one (1) ADS representing thirty (30) Class A ordinary shares.
As of July 31, 2026, the Company had repurchased an aggregate of approximately 0.7 million ADSs (on a post-ratio change basis) for approximately US$5.2 million from the open market under the share repurchase program.
Conference Call Information
Tuniu’s management will hold an earnings conference call at 8:00 am U.S. Eastern Time, on August 25, 2026, (8:00 pm, Beijing/Hong Kong Time, on August 25, 2026) to discuss the second quarter 2026 financial results.
To participate in the conference call, please dial the following numbers:
United States
1-888-346-8982
Hong Kong
800-905945
Chinese mainland
4001-201203
International
1-412-902-4272
Conference ID: Tuniu 2Q 2026 Earnings Conference Call
A telephone replay will be available one hour after the end of the conference call through September 1, 2026. The dial-in details are as follows:
United States
1-855-669-9658
International
1-412-317-0088
Replay Access Code: 3938540
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 third 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/(loss) from operations, net income/(loss), net income/(loss) attributable to ordinary shareholders of Tuniu Corporation, which excludes share-based compensation expenses and amortization of acquired intangible assets. The presentation of these non-GAAP financial measures 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.
These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. Further, these non-GAAP measures 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 these non-GAAP financial measures to the nearest U.S. GAAP performance measures, 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.
(Financial Tables Follow)
Tuniu Corporation
Unaudited Condensed Consolidated Balance Sheets
(All amounts in thousands, except per share information)
December 31, 2025
Jun 30, 2026
Jun 30, 2026
RMB
RMB
US$
ASSETS
Current assets
Cash and cash equivalents
207,228
261,462
38,535
Restricted cash
10,222
5,302
781
Short-term investments
853,704
716,027
105,529
Accounts receivable, net
66,834
67,131
9,894
Amounts due from related parties
1,293
143
21
Prepayments and other current assets
157,558
137,902
20,324
Total current assets
1,296,839
1,187,967
175,084
Non-current assets
Long-term investments
227,012
206,340
30,411
Property and equipment, net
18,860
18,001
2,653
Intangible assets, net
19,645
18,192
2,681
Operating lease right-of-use assets, net
6,873
6,150
906
Other non-current assets
30,754
32,113
4,733
Total non-current assets
303,144
280,796
41,384
Total assets
1,599,983
1,468,763
216,468
LIABILITIES AND EQUITY
Current liabilities
Short-term borrowings
35
–
–
Accounts and notes payable
219,440
278,251
41,009
Amounts due to related parties
980
7,875
1,161
Salary and welfare payable
19,594
19,231
2,834
Taxes payable
4,077
1,245
183
Advances from customers
184,461
134,587
19,836
Operating lease liabilities, current
3,340
3,710
547
Accrued expenses and other current liabilities
204,388
167,296
24,656
Total current liabilities
636,315
612,195
90,226
Non-current liabilities
Operating lease liabilities, non-current
1,023
910
134
Deferred tax liabilities
4,534
4,247
626
Total non-current liabilities
5,557
5,157
760
Total liabilities
641,872
617,352
90,986
Equity
Ordinary shares
219
216
32
Less: Treasury stock
(82,474)
(77,370)
(11,403)
Additional paid-in capital
9,122,119
9,035,430
1,331,658
Accumulated other comprehensive income
307,446
298,572
44,004
Accumulated deficit
(8,317,009)
(8,332,443)
(1,228,051)
Total Tuniu Corporation shareholders’ equity
1,030,301
924,405
136,240
Noncontrolling interests
(72,190)
(72,994)
(10,758)
Total equity
958,111
851,411
125,482
Total liabilities and equity
1,599,983
1,468,763
216,468
The Company announced on June 5, 2026 its unaudited financial results for the first quarter of 2026 (the “Q1 2026 Earning
Release”). The Company has since identified an omission during the period end financial closing process for the first quarter
of 2026 to account for the cash dividend declared by its board of directors in March 2026 (the “Dividend”). Accordingly, the
Company is correcting its Q1 2026 Earning Release to reflect the Dividend as a liability as of March 31, 2026, which increases
accrued expenses and other current liabilities by RMB88.9 million and decreases additional paid-in capital by RMB88.9 million,
as of March 31, 2026. The correction does not affect the Company’s total assets or its total liabilities and shareholders’ equity
in the aggregate as of March 31, 2026. Because the correction relates to the recognition of a dividend obligation, which is
recorded as a reduction of shareholders’ equity rather than as an expense, it does not affect the Company’s unaudited
consolidated statements of comprehensive (loss)/income for the period, including net (loss)/income per ordinary share – basic
and diluted or net (loss)/income per ADS – basic and diluted.
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
Jun 30, 2025
Mar 31, 2026
Jun 30, 2026
Jun 30, 2026
RMB
RMB
RMB
US$
Revenues
Packaged tours
113,404
109,675
121,099
17,848
Others
21,450
22,914
17,821
2,626
Net revenues
134,854
132,589
138,920
20,474
Cost of revenues
(48,865)
(59,033)
(62,479)
(9,208)
Gross profit
85,989
73,556
76,441
11,266
Operating expenses
Research and product development
(16,403)
(13,556)
(13,817)
(2,036)
Sales and marketing
(45,019)
(50,488)
(54,702)
(8,062)
General and administrative
(17,760)
(13,483)
(14,148)
(2,085)
Other operating income
312
223
142
21
Total operating expenses
(78,870)
(77,304)
(82,525)
(12,162)
Income/(loss) from operations
7,119
(3,748)
(6,084)
(896)
Other (expenses)/income
Interest and investment income, net
7,279
5,692
4,654
686
Interest expense
(583)
(211)
(33)
(5)
Foreign exchange (losses)/ income, net
(804)
328
2,177
321
Other loss, net
(55)
(2,847)
(662)
(98)
Income/(loss) before income tax expense
12,956
(786)
52
8
Income tax expense
(274)
(100)
(250)
(37)
Equity in income of affiliates
1,423
1,112
543
80
Net income
14,105
226
345
51
Net loss attributable to noncontrolling interests
(421)
(440)
(364)
(54)
Net income attributable to ordinary shareholders of Tuniu
Corporation
14,526
666
709
105
Net income
14,105
226
345
51
Other comprehensive loss:
Foreign currency translation adjustment, net of nil tax
(1,625)
(4,064)
(4,810)
(709)
Comprehensive income/(loss)
12,480
(3,838)
(4,465)
(658)
Net income per ordinary share attributable to ordinary
shareholders – basic and diluted
0.04
0.00
0.00
0.00
Net income per ADS – basic*
1.27
0.00
0.07
0.01
Net income per ADS – diluted*
1.26
0.00
0.07
0.01
Weighted average number of ordinary shares used in computing
basic income per share
343,694,559
326,212,384
322,258,097
322,258,097
Weighted average number of ordinary shares used in computing
diluted income per share
345,928,965
328,033,049
323,974,327
323,974,327
Weighted average number of ADSs used in computing basic
income per share
11,456,485
10,873,746
10,741,937
10,741,937
Weighted average number of ADSs used in computing diluted
income per share
11,530,966
10,934,435
10,799,144
10,799,144
Share-based compensation expenses included are as follows：
Cost of revenues
65
63
62
9
Research and product development
65
63
62
9
Sales and marketing
32
30
30
4
General and administrative
1,244
1,191
772
114
Total
1,406
1,347
926
136
*The Company changed the ratio of its ADSs to its Class A ordinary shares from the previous ratio of one (1) ADS representing three (3) Class A ordinary shares to
current ratio of one (1) ADS representing thirty (30) Class A ordinary shares, effective April 22, 2026. Net (loss)/income per ADS – basic and diluted has been
retroactively adjusted for all periods presented to reflect the current ADS ratio.
Reconciliations of GAAP and Non-GAAP Results
(All amounts in thousands, except per share information)
Quarter Ended Jun 30, 2026
GAAP Result
Share-based
Amortization of acquired
Non-GAAP
Compensation
intangible assets
Result
Loss from operations
(6,084)
926
591
(4,567)
Net income
345
926
591
1,862
Net income attributable to ordinary shareholders
709
926
591
2,226
Quarter Ended Mar 31, 2026
GAAP Result
Share-based
Amortization of acquired
Non-GAAP
Compensation
intangible assets
Result
Loss from operations
(3,748)
1,347
591
(1,810)
Net income
226
1,347
591
2,164
Net income attributable to ordinary shareholders
666
1,347
591
2,604
Quarter Ended Jun 30, 2025
GAAP Result
Share-based
Amortization of acquired
Non-GAAP
Compensation
intangible assets
Result
Income from operations
7,119
1,406
591
9,116
Net income
14,105
1,406
591
16,102
Net income attributable to ordinary shareholders
14,526
1,406
591
16,523