Tuniu Inc. (NASDAQ: TOUR) stock dropped by 2.76% at last close while the TOUR stock price plunged by 5.25% in the after-hours trading session. Tuniu is the largest online leisure travel firm in China, offering a wide range of packaged tours, including organised and self-guided trips, as well as travel-related services for leisure travelers via its site tuniu.com and mobile application.
TOUR stock’ Financial Highlights
Recently on Nov 19, 2021, Tuniu announced its unaudited financial results for the third quarter of 2021. Given below is the summary:
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- In the third quarter of 2021, net revenues were RMB114.6 million, a 7.2 percent decline year over year from the same time in 2020. The reduction was mostly due to the unfavorable effects of COVID-19’s breakout and dissemination.
- For Q3 of 2021, gross profit was RMB39.7 million, down 38.9% year on year from the same time in 2020.
- Operating expenses in the third quarter of 2021 were RMB96.4 million, down 24.6 percent from the same time in 2020.
- In the third quarter of 2021, the company lost RMB36.6 million, relative to RMB62.1 million in the third quarter of 2020.
Mr. Donald Dunde Yu, Tuniu’s founder, Chairman, and CEO stated that,
Tuniu’s commitment to offering high-quality products and services while maintaining a high level of customer satisfaction has continued to yield positive outcomes. Despite hiccups in the broader tourist industry’s recovery, the transaction volume of their self-operated local tour products increased by double digits year over year during the quarter. In the future, they will hope to enhance the client experience even more in order to stand out in China’s travel market. Tuniu’s operating expenses declined year over year for the third quarter in a row, demonstrating their rigorous approach. They’ll keep implementing their present cost-cutting efforts to boost operational efficiency even more.
Future Expectations
The Company intends to produce RMB53.4 million to RMB65.3 million in net revenues in the fourth quarter of 2021, a 45 percent to 55 percent decline year over year. Tuniu’s present and preliminary perspective of the industry and its activities is reflected in this projection, which is liable to change.
