Page 1 - Exhibit 99.1

 

Exhibit 99.1

 

Tuniu Announces Unaudited Fourth Quarter and Fiscal Year 2015 Financial Results

 

Net Revenues in Q4 2015 Increased by 104.1% Year-Over-Year

 

Gross Bookings in Q4 2015 Increased by 102.1% Year-Over-Year

 

 

NANJING, China, Feb. 29, 2016 /PRNewswire/ -- Tuniu Corporation (NASDAQ:TOUR) ("Tuniu" or the "Company"), a leading online leisure travel company in China, 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[1]).
  • Gross bookings[2] which include organized tours and self-guided tours, increased by 102.1% to RMB2.7 billion (US$409.8 million) year-over-year in the fourth quarter of 2015.
  • Total number of trips from organized tours (excluding local tours) increased by 122.9% year-over-year and the total number of trips from self-guided tours increased by 174.7% year-over-year in the fourth quarter of 2015.
  • Mobile orders contributed to over 75% of total online orders in the fourth quarter of 2015.
  • Tuniu added 30[3] regional service centers in the fourth quarter of 2015 to reach a total of 160 service centers as of December 31, 2015 and another 10[4] service centers subsequently to a total of 170 service centers.

Highlights for the Fiscal Year 2015

  • Net revenues were RMB7.6 billion (US$1.2 billion) in 2015, up 116.3% from 2014.
  • Gross bookings which include organized tours and self-guided tours were RMB10.6 billion (US$1.6 billion) in 2015, up 114.6% from 2014.
  • Total number of trips from organized tours (excluding local tours) increased by 129.4% year-over-year and the total number of trips from self-guided tours increased by 181.6% year-over-year in 2015.

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."

Mr. Alex Yan, Tuniu's co-founder, President and Chief Operating Officer, said, "By gathering and consolidating resources throughout the travel supply chain, our direct procurement has reached 30% of our gross bookings during the fourth quarter. As we continue to increase direct procurement and utilize a localized procurement strategy, we have been able to achieve improved standardization across all of our products and services to ensure quality control for our customers. During 2015, we achieved significant progress in terms of regional expansion as the number of regional center has grown from 75 at the end of 2014 to the current 170. The increased regional coverage has strengthened our presence in lower tiered cities, which continues to develop into our core competitiveness as lower tiered cities are an important driver for travel demand. Additionally, we will strengthen our capabilities in destination cities by establishing service centers at popular destinations around the world in order to better offer localized products to travelers and to source products that are only accessible locally."

Mr. Conor Yang, Tuniu's Chief Financial Officer, said, "We continue to make investments for travel-related services that synergize with our core leisure travel business. New products such as hotel booking, air ticketing and online financial services provide our customers with additional capacity for customization during their trips. Our diversified offerings of services strengthen our long-term competitive advantage and set us apart from our peers. We believe that investments in our strategic initiatives will solidify our market position and support our future growth."

 

 

 

 

 

[1] The conversion of Renminbi ("RMB") into United States dollars ("US$") is based on the exchange rate of US$1.00=RMB6.4778 on December 31, 2015 as set forth in H.10 statistical release of the U.S. Federal Reserve Board and available at http://www.federalreserve.gov/releases/h10/hist/dat00_ch.htm.
[2] Gross bookings refer to the total amount paid by our customers for the travel products that we have delivered and the travel services that we have rendered, including the related taxes, fees and other charges borne by our customers.
[3] 30 regional service centers consist of Huainan, Ma'anshan, Hanzhong, Tsitsihar, Daqing, Dandong, Fushun, Yichun, Zhangjiakou, Wuzhou, Huaian, Songyuan, Siping, Tongliao, Shunde, Yuncheng, Baoji, Xiangtan, Yueyang, Shanghai (III), Zunyi, Urumqi, Xiaogan, Jiaozuo, Fuxin, Yanji, Chuzhou, Anqing, Chongqing (Wanzhou) and Wuhan (Wuchang).
[4] 10 regional service centers consist of Weinan, Shangqiu, Benxi, Huludao, Liaoyang, Tonghua, Kunshan, Shanghai (IV), Beijing (III) and Beijing (IV).