Tongcheng Travel, a Hong Kong-listed online travel company invested by Trip.com Group and Tencent, announced the unaudited consolidated results of the Group for the three months ended June 30, 2022.
Revenue decreased by 38.3% year-to-year to RMB1,318.7 million from RMB2,138.0 million in the same period of 2021.
Revenue from accommodation reservation services decreased by 26.8% from RMB742.9 million for the three months ended June 30, 2021 to RMB543.5 million in the same period of 2022.
GMV decreased by 26.6% to RMB56.7 million from RMB 77.2 million in second quarter of 2021.
Adjusted EBITDA decreased by 46.8% from RMB549.7 million in the second quarter of 2021 to RMB292.2 million in the second quarter of 2022.
Adjusted net profit decreased by 73.2% from RMB417.9 million in the second quarter of 2021 to RMB112.0 million in the second quarter of 2022.
Average MAUs decreased by 28.9% year-to-year from 277.9 million in the second quarter of 2021 to 197.6 million in the second quarter of 2022.
Average MPUs decreased by 21.9% year-to-year from 33.4 million in the second quarter of 2021 to 26.1 million in the second quarter of 2022.
In the second quarter of 2022, the pandemic has brought unprecedented fluctuations and extreme pressure to the travel industry in China. The spike of COVID-19 cases started in densely populated urban areas and then spread to different regions across the nation. As a result, the travel industry plunged and the situation has become even more challenging compared to the first wave of the pandemic in 2020.
Read original article
