Tuniu today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2015. Highlights for the Fourth Quarter of 2015 ·Net revenues in the fourth quarter of 2015 increased by 104.1% year-over-year to RMB1.9 billion (US$292.6 million). Highlights for the Fiscal Year 2015 ·Net revenues were RMB7.6 billion (US$1.2 billion) in 2015, up 116.3% from 2014. Mr. Donald Yu, Tuniu's co-founder, Chairman and Chief Executive Officer, said, "We are pleased with the achievements that Tuniu has accomplished last year. The number of packaged tour trips that we served during 2015 increased 104% year-on-year to more than 4.4 million. During 2015, Tuniu also rapidly expanded its market share in the fast growing leisure travel market. We were able to achieve these accomplishments through ongoing execution of strategic initiatives and commitment to delivering high quality leisure products to our customers. In recent months, external events have negatively impacted some of our popular destinations and have caused a temporary shock to certain regions. However, we are confident that the overarching evolving consumption pattern in China will outweigh external factors and our highly diversified portfolio of destinations and products will support our long-term growth." Fourth Quarter 2015 Results Net revenues were RMB1.9 billion (US$292.6 million) in the fourth quarter of 2015, representing a year-over-year increase of 104.1% from the corresponding period in 2014. The increase was primarily due to the growth in revenues from organized tours, self-guided tours and other revenues. The number of trips sold increased by 98.7% to 1,110,429 in the fourth quarter of 2015 from 558,715 in the fourth quarter of 2014. ·Revenues from organized tours, substantially all of which are recognized on a gross basis, were RMB1,804.4 million (US$278.6 million) in the fourth quarter of 2015, representing a year-over-year increase of 101.4% from the corresponding period in 2014. The increase was primarily due to the rapid growth in demand for travel to certain international destinations, such as Japan, Australia, New Zealand, and North America and for domestic tours. In the fourth quarter of 2015, the number of trips of organized tours (excluding local tours) increased by 122.9% to 429,182 from 192,505 in the same period last year, and the number of trips of local tours increased by 44.8% to 362,182 from 250,046 in the fourth quarter of 2014. Fiscal Year 2015 Results Net revenues were RMB7.6 billion (US$1,180.2 million) in 2015, representing a 116.3% increase from 2014. The increase was primarily due to the growth in revenues from organized tours, self-guided tours and other revenues. The number of trips sold increased by 103.9% to 4,449,053 in 2015 from 2,181,834 in 2014. ·Revenues from organized tours, substantially all of which are recognized on a gross basis, were RMB7.4 billion (US$1,136.0 million) in 2015, representing a 114.4% increase from 2014. The increase was primarily due to the rapid growth in demand for travel to certain international destinations, such as Europe, Southeast Asia, Japan, and North America and for domestic tours. In 2015, the number of trips of organized tours (excluding local tours) increased by 129.4% to 1,632,955 up from 711,847 in 2014, and the number of trips of local tours increased by 58.4% to 1,701,821 up from 1,074,335 in 2014. Read original report |