Tuniu expects net income to decline 65% to 75% year-on-year in the first quarter of 2020.
Editor’s note: This article is from the micro-channel public number “TravelDaily” (ID: Traveldaily) , Author: Global Travel News.
On the evening of April 9, Tuniu Travel (hereinafter referred to as “Tuniu”) announced its unaudited fourth quarter and fiscal 2019 annual results report as of December 31, 2019.
The financial report shows that in 2019, Tuniu ’s net income was 2.3 billion yuan (US $ 327.6 million), an increase of 1.8% over the same period in 2018; packaged tourism product revenue was 1.9 billion yuan (US $ 271 million), compared with The same period in 2018 increased by 3.1%.
Tuniu founder, chairman and chief executive officer (CEO) Mr. Yu Dunde said: “We are experiencing the most challenging period since the establishment of the company due to the impact of the new crown epidemic. However, the difficulties are temporary. As the domestic epidemic prevention and control situation continues to improve, we are fully confident in the recovery of the Chinese economy and tourism industry. After the outbreak, we have provided practical services and guarantees for our guests. During this time, we will continue to polish our products and services. Tap domestic tourism potential and wait for industry and business recovery. “
Ms. Xin Yi, Chief Financial Officer (CFO) of Tuniu, said: “Since the fourth quarter of last year, we have further combed the company’s business and organizational structure. After the outbreak of this year, we have strengthened the cost control, and the effect will be in 2020. It will begin to appear in the second half of the year. Although the company suspended its main package travel product booking business due to the impact of the epidemic, as a leading domestic leisure travel company, we will assume the corporate social responsibility and actively protect the interests of customers. “
In the fourth quarter, revenue from packaged tourism products decreased by 3.7% year-on-year
In the fourth quarter of 2019, net income was 451.3 million yuan ($ 64.8 million), a decrease of 4.2% from the same period in 2018.
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In the fourth quarter of 2019, packaged travel product revenue was 344.3 million yuan (US $ 49.5 million), a decrease of 3.7% from the same period in 2018
In the fourth quarter of 2019, packaged travel product revenue was 344.3 million yuan (US $ 49.5 million), a decrease of 3.7% from the same period in 2018