Tuniu Corporation (TOUR) stock soared 7.46% in the after-hours trading session at the price of $1.44 despite no recent development. The last published news was its unaudited second quarter 2021 financial results. TOUR is a Chinese leisure travel company. It offers packaged tours, self-guided tours, and travel-related services through its website and mobile platform.
TOUR Second Quarter 2021 Financial Results
On 23rd August 2021, TOUR published its unaudited financial results for the second quarter ended 30th June 2021 and provided corporate updates.
CEO of TOUR, Mr. Donald Dunde Yu, remarked that their business witnessed a substantial comeback in the second quarter. The company has produced high revenue growth for the first time since the COVID-19 pandemic and has returned to positive cash flow. They have improved their products and services based on customer demands to maintain sustainable growth and secure opportunities amidst the evolving market environment. They will always prioritize customers and strive to gain their long-term support and trust by providing high-quality service, he added.
Second Quarter 2021 Financial Highlights
TOUR reported net revenues of RMB161.0 million (US$24.9 million) for the second quarter ended 30th June 2021. It represents a YoY increase of 373.1% from the same quarter of 2020. The increase resulted from higher revenue growth from packaged tours. For the second quarter of 2021, revenues from packaged tours were RMB126.5 million (US$19.6 million). It represents a year-over-year gain of 906.9% from the same period of the previous year. The increase was driven by higher demand for domestic tours.
Other revenues were RMB34.5 million (US$5.3 million) during the second quarter ended 30th June 2021, representing a YoY rise of 60.6% from the second quarter of 2020. The increase resulted from higher commission fees from travel-related products and service fees from insurance companies. TOUR reported RMB92.0 million (US$14.2 million) revenue costs in the second quarter of 2021. It represents a year-over-year increase of 249.8% from the same quarter of 2020.
TOUR reported a gross profit of RMB69.0 million (US$10.7 million) in the second quarter of 2021. It represents a year-over-year gain of 792.2% from the same quarter of 2020. For the second quarter of 2021, the loss from operations was RMB26.2 million (US$4.1 million). The operating loss was RMB150.3 million in the second quarter ended on 30th June 2020. Net loss was RMB14.0 million (US$2.2 million) in the second quarter of 2021. The company reported a net loss of RMB154.6 million in the second quarter of the previous year.
