Tuniu Corporation announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024, highlighting a significant milestone: its first full-year GAAP profit since listing. Net income attributable to ordinary shareholders for fiscal year 2024 reached RMB77.2 million (US$10.6 million), a substantial improvement from a net loss of RMB99.3 million in 2023. Non-GAAP net income for 2024 also reached a record high of RMB80.8 million (US$11.1 million).
For the full fiscal year 2024, net revenues increased by 16.4% year-over-year to RMB513.6 million (US$70.4 million), with gross profit rising 21.9% to RMB358.0 million (US$49.1 million). Operating expenses decreased by 25.5% year-over-year to RMB294.8 million (US$40.4 million), primarily due to a RMB114.7 million goodwill impairment recorded in 2023. This led to an income from operations of RMB63.3 million (US$8.7 million) in 2024, compared to a loss in 2023.
For the fourth quarter of 2024, net revenues were RMB102.7 million (US$14.1 million), a 2.8% increase year-over-year. The company reported a net loss of RMB25.1 million (US$3.4 million) for the quarter, an improvement from a net loss of RMB132.9 million in Q4 2023. Non-GAAP net loss for Q4 2024 was RMB7.2 million (US$1.0 million).
Tuniu's Board of Directors approved and declared a cash dividend of US$0.012 per ordinary share, or US$0.036 per ADS, with a total distribution of approximately US$4.2 million. The record date for this dividend is March 27, 2025, and payment is expected around April 17, 2025, for ordinary shareholders and April 24, 2025, for ADS holders.
Looking ahead, Tuniu expects net revenues for the first quarter of 2025 to range from RMB116.6 million to RMB122.0 million, representing an 8% to 13% increase year-over-year. The company also updated its share repurchase program, having repurchased approximately 7.9 million ADSs for about US$7.3 million as of February 28, 2025, under the US$10 million program authorized in March 2024.
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