Tuniu Corporation announced its unaudited financial results for the third quarter ended September 30, 2024, reporting net revenues of RMB186.0 million (US$26.5 million), a 4.4% increase year-over-year. Gross profit for the quarter rose by 6.1% year-over-year to RMB121.8 million (US$17.4 million). This marks continued profitable growth for the company.
The company achieved a net income of RMB43.9 million (US$6.3 million) in Q3 2024, an increase from RMB39.1 million in the corresponding period of 2023. Non-GAAP net income reached RMB46.0 million (US$6.6 million), reflecting strong underlying business performance. Net income attributable to ordinary shareholders was RMB44.4 million (US$6.3 million).
As of September 30, 2024, Tuniu maintained a strong liquidity position with cash and cash equivalents, restricted cash, and short-term investments totaling RMB1.3 billion (US$185.8 million). For the fourth quarter of 2024, Tuniu expects net revenues to be between RMB100.0 million and RMB105.0 million, representing a year-over-year increase of 0% to 5%.
The company also provided an update on its share repurchase program, authorized in March 2024 for up to US$10 million. As of November 30, 2024, Tuniu had repurchased approximately 6.2 million ADSs for about US$5.6 million from the open market under this program. This ongoing program demonstrates a commitment to returning value to shareholders.
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