【Travel Stock 780 Results】Tongcheng Travel's Net Profit Rose 20% Year-over-Year to 2.37 Billion Yuan, Declares Final Dividend of HK$0.25

Tongcheng Travel (00780)
Announces Annual Results. Last year, the company’s attributable profit for shareholders was RMB 2.37 billion, up 20.1% year-on-year. Adjusted net profit was RMB 3.4 billion, up 22.2%. Adjusted EBITDA increased by 26.9% to RMB 5.14 billion. Basic earnings per share were RMB 1.03, with a final dividend of HKD 0.25.

Tongcheng Travel’s full-year revenue rose 11.9% year-on-year to RMB 19.4 billion. The average monthly paying users increased by 5.6% to 45.5 million. Annual paying users grew 6% to 250 million.

Core online travel platform revenue mainly comes from accommodation booking services and transportation ticketing services. During the period, revenue increased by 16% to RMB 16.47 billion. Revenue from accommodation booking services rose 16.8% to RMB 5.45 billion, mainly due to increased demand. Transportation ticketing revenue grew 9.6% to RMB 7.93 billion, driven by higher demand and a richer range of value-added products and services.

Vacation revenue decreased by 6.9% to RMB 2.92 billion, due to strategic reduction of buyout businesses to lower operational risks. Additionally, weakened travel demand in Southeast Asia and Japan also negatively impacted the vacation business.

In the fourth quarter of last year, Tongcheng Travel recorded a net profit of RMB 84.55 million, down 75.9%. Adjusted net profit increased by 18.1% to RMB 780 million. Adjusted EBITDA rose 28.6% to RMB 1.28 billion, with revenue up 14.2% to RMB 4.84 billion.

Looking ahead, Tongcheng Travel will continue to uphold the user-first philosophy and fully implement the mission of “making travel simpler and happier.” The company will focus on online travel platform business by expanding product offerings, optimizing service experience, enriching member benefits, and deepening user engagement to strengthen customer loyalty and brand recognition in target markets. In hotel management, leveraging a comprehensive hotel brand portfolio, mature ecosystem, and strong internet operations, the company plans to accelerate business expansion by 2026. It will also cautiously explore investment opportunities aligned with its long-term strategy to support sustainable growth. Finally, the company will continue to benchmark global ESG best practices, emphasizing corporate governance, environmental protection, and social responsibility to create lasting value for all stakeholders.