Tongcheng Travel Holdings Ltd (OTCPK:TNGCF)

Q3 2024 Tongcheng Travel Holdings Ltd Earnings Call Transcript

Nov 19, 2024 / 11:30 AM GMT

Release Date Price: $2.28

Transcript

Key Points

Positve

Tongcheng Travel Holdings Ltd (FRA:TEM) achieved a record high quarterly revenue of RMB5.0 billion, representing a 51% increase from the same period of 2023.
The company's adjusted net profit reached a quarterly historical high of RMB910 million, with an adjusted net profit margin growing to 18.2%.
The transportation business, a key growth driver, achieved a record high in quarterly revenue, with the air ticketing business gaining market share.
International business saw substantial growth, with outbound accommodation and air ticketing volumes recording over 100% year-over-year growth.
The standalone app experienced significant growth, with daily active users reaching an all-time high of over 3 million before the National Day holiday.

Negative

The GMV growth was only 2% to 3% due to a drop in ADR and ATV, which offset the volume growth.
Despite strong revenue growth, the integration of the tourism business impacted overall margins.
The user acquisition cost for the standalone app is higher than for other platforms, with a longer payback period.
There is a deceleration in the growth of monthly paying users (MPU) and annual paying users (APU), indicating potential saturation in the user base.
The advertising and corporate travel business segments showed flat year-over-year growth, partially offsetting gains in other areas.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

0780.HK - Tongcheng Travel Holdings Ltd
Q3 2024 Tongcheng Travel Holdings Ltd Earnings Call
Nov 19, 2024 / 11:30AM GMT

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Presentation
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Unidentified_1 [1]
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Good day. And thank you for standing by. Welcome to the Tongcheng Travel 2024 3rd quarter results earning release conference call at this time. All participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session to ask a question during the session. You will need to press star one and one on your telephone. You will then hear an automated message advising your hand is raised to withdraw your question. Press star one and one again, please be advised that there is a limit of two questions per person on today's call. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today. Kylie Young. Please go

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