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Tuniu Announces Unaudited Second Quarter 2014 Financial Results

Stocks in this article: TOUR

NANJING, China, Aug. 12, 2014 (GLOBE NEWSWIRE) -- 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, 2014.

Highlights for the Second Quarter of 2014

  • Net revenues in the second quarter of 2014 increased by 84.9% year-over-year to RMB716.4 million (US$115.5 million).
  • Total number of trips from organized tours (excluding local tours) increased by 98.9% year-over-year and total number of trips from self-guided tours increased by 104.5% year-over-year in the second quarter of 2014.
  • Mobile traffic contributed over 35% of total online traffic and 30% of total orders in the second quarter.
  • Expanded our customer service network by opening regional service centers in five additional cities in the second quarter.

Mr. Donald Yu, Tuniu's co-founder and Chief Executive Officer, said, "After our successful IPO in May, we are capitalizing on the IPO by strengthening our leading position in terms of market share and brand recognition. Despite the short-term impact of political instability in Southeast Asia and the tragic Malaysia Airline accident, we delivered a strong top line growth of 84.9% year-over-year in the second quarter. Our wide coverage of travel destinations and the professional guidance provided by our tour advisors enabled us to better serve a growing number of Chinese leisure travelers."

Mr. Alex Yan, Tuniu's co-founder and Chief Operating Officer, said, "During the second quarter, we launched our flash sale platform and established new regional service centers in five additional cities. In the second half of the year, we will continue to enhance customer service and improve our local sourcing and marketing capability by opening more regional service centers in second and third tier cities in China."

"In the second quarter, we made a strategic decision to price and market aggressively to increase our scale more quickly and achieve market share gains against our competitors. In the long run, as our scale increases over time, we shall obtain stronger bargaining power with our supply chain and improve our operational efficiency over a larger revenue base," said Mr. Conor Yang, Tuniu's Chief Financial Officer.

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