Tuniu (TOUR) Q2 2026 earnings summary

Executive summary

• Achieved sixth consecutive quarter of non-GAAP profitability, supported by diversified product and sales strategies, operational efficiency improvements using AI, and targeted marketing initiatives.

• Maintained revenue growth in Q2 2026, aided by favorable domestic travel policies and expanded offerings for various customer segments.

• Enhanced marketing through online seminars and live streaming, boosting engagement and conversion rates.

• Integrated AI into workflows and customer-facing services, improving efficiency and personalization.

Financial highlights

• Net revenues reached CNY 138.9 million (RMB138.9 million/$20.5 million), up 3% year-over-year; packaged tours revenue rose 6.8% to CNY 121.1 million.

• Gross profit was CNY 76.4 million, down 11.1% year-over-year; cost of revenues increased 27.9% to CNY 62.5 million.

• Operating expenses increased 4.6% to CNY 82.5 million; sales and marketing expenses rose 21.5%.

• Net income attributable to shareholders was CNY 0.7 million; non-GAAP net income was CNY 2.2 million.

• Cash and equivalents, short-term investments, and long-term deposits totaled CNY 1 billion ($151.5 million) as of June 30, 2026.

Outlook and guidance

• Q3 2026 net revenues expected between CNY 202.1 million and CNY 212.2 million, representing 0% to 5% year-over-year growth.

• Management aims to maintain profitability in the upcoming quarter, with steady domestic travel demand and some outbound market uncertainties.