<p>途牛公司（Tuniu Corp ((TOUR)）已召开其第三季度财报电话会议。请继续阅读会议的主要亮点。</p>
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<p>途牛公司的最新财报电话会议描绘了公司财务健康和战略进展的复杂局面。尽管出境旅游和自驾游显著增长，整体收入和盈利能力也有所提升，但毛利润下降和运营费用上升等挑战也被提及。</p>
<h2>收入增长</h2>
<p>途牛公司报告称，净收入同比增长 9%，核心打包旅游产品的收入增长显著，达到 12%。这一增长凸显了公司在旅游服务需求上，特别是在打包旅游领域的能力。</p>
<h2>出境旅游成功</h2>
<p>公司在出境旅游领域取得了显著成功，新推出的精选出境旅游产品的交易量同比增长超过 100%。这一激增反映了途牛在扩大出境旅游产品和占领这一利润丰厚市场份额方面的战略重点。</p>
<h2>自驾游增长</h2>
<p>在国庆假期期间，途牛的自驾游产品交易量增长了五倍。这一令人印象深刻的增长突显了自驾游在游客中日益受欢迎，以及途牛在这一市场的有效定位。</p>
<h2>企业客户增长</h2>
<p>公司还记录了来自企业客户的交易量同比增长两位数。这一增长表明途牛在加强与企业客户关系和扩大企业旅游市场份额方面的成功努力。</p>
<h2>盈利能力实现</h2>
<p>途牛在 GAAP 和非 GAAP 基础上均实现了季度盈利，标志着公司一个重要的里程碑。这一成就反映了公司有效的成本管理和收入生成策略。</p>
<h2>毛利润下降</h2>
<p>尽管收入增长积极，途牛在 2025 年第三季度的毛利润同比下降 10%，达到 1.096 亿元人民币。这一下降对公司维持盈利能力构成挑战。</p>
<h2>其他收入减少</h2>
<p>由于其他旅游相关产品的佣金费用减少，其他收入同比下降 14%。这一下降表明途牛需要多样化其收入来源，减少对特定产品线的依赖。</p>
<h2>运营费用上升</h2>
<p>第三季度的运营费用同比增长 3%，达到 9580 万元人民币。费用的上升突显了途牛在追求增长的同时管理运营成本所面临的挑战。</p>
<h2>前瞻性指引</h2>
<p>展望未来，途牛公司对其财务表现和运营增长提供了积极的展望。公司预计第四季度的净收入将在 1.11 亿元至 1.161 亿元人民币之间，同比增长 8% 至 13%。途牛预计将维持非 GAAP 的盈亏平衡或盈利，得益于国内和出境旅游领域的持续增长。</p>
<p>总之，途牛公司的财报电话会议揭示了公司在关键领域经历强劲增长，但在维持盈利能力和管理费用方面面临挑战。对即将到来的季度的积极展望表明，尽管面临障碍，途牛在把握市场机会方面处于良好位置。</p>

途牛

<p>途牛公司第三季度的财报电话会议强调了出境旅游和自驾游的增长，净收入增长了 9%。尽管实现了盈利，但面临的挑战包括毛利润下降 10% 和运营费用上升。公司预计国内和出境旅游将继续增长，预计第四季度收入将增长 8% 至 13%。尽管面临困难，途牛旨在保持非公认会计原则下的盈亏平衡或盈利，利用市场机会</p>

<p>Tuniu Corp ((TOUR)) has held its Q3 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>途牛公司（Tuniu Corp ((TOUR)）已召开其第三季度财报电话会议。请继续阅读会议的主要亮点。</p>
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<li>享受 TipRanks Premium 60% 的折扣，获取数据支持的见解和您需要的研究工具，以自信投资。</li>
<li>订阅 TipRanks 的智能投资者精选，通过我们高表现的模型投资组合查看我们的数据 - 现在也享受 60% 的折扣。</li>
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</div><p>The recent earnings call of Tuniu Corp painted a mixed picture of the company’s financial health and strategic progress. While there was notable growth in outbound travel and self-drive tours, alongside an increase in overall revenue and profitability, challenges such as declines in gross profit and rising operating expenses were also highlighted.</p>
<div class="lb-trans"><p>途牛公司的最新财报电话会议描绘了公司财务健康和战略进展的复杂局面。尽管出境旅游和自驾游显著增长，整体收入和盈利能力也有所提升，但毛利润下降和运营费用上升等挑战也被提及。</p>
</div><h2>Revenue Growth</h2>
<div class="lb-trans"><h2>收入增长</h2>
</div><p>Tuniu Corp reported a 9% year-over-year increase in net revenues, with a significant 12% growth in revenues from its core packaged tour products. This growth underscores the company’s ability to capitalize on the demand for travel services, particularly in its packaged tours segment.</p>
<div class="lb-trans"><p>途牛公司报告称，净收入同比增长 9%，核心打包旅游产品的收入增长显著，达到 12%。这一增长凸显了公司在旅游服务需求上，特别是在打包旅游领域的能力。</p>
</div><h2>Outbound Travel Success</h2>
<div class="lb-trans"><h2>出境旅游成功</h2>
</div><p>The company achieved remarkable success in its outbound travel segment, with transaction volumes for new select outbound travel products increasing by over 100% year-over-year. This surge reflects Tuniu’s strategic focus on expanding its outbound travel offerings and capturing market share in this lucrative segment.</p>
<div class="lb-trans"><p>公司在出境旅游领域取得了显著成功，新推出的精选出境旅游产品的交易量同比增长超过 100%。这一激增反映了途牛在扩大出境旅游产品和占领这一利润丰厚市场份额方面的战略重点。</p>
</div><h2>Self-Drive Tour Growth</h2>
<div class="lb-trans"><h2>自驾游增长</h2>
</div><p>During the National Day holiday, Tuniu saw a fivefold increase in transaction volumes for self-drive tour products. This impressive growth highlights the increasing popularity of self-drive tours among travelers and Tuniu’s effective positioning in this market.</p>
<div class="lb-trans"><p>在国庆假期期间，途牛的自驾游产品交易量增长了五倍。这一令人印象深刻的增长突显了自驾游在游客中日益受欢迎，以及途牛在这一市场的有效定位。</p>
</div><h2>Corporate Customer Growth</h2>
<div class="lb-trans"><h2>企业客户增长</h2>
</div><p>The company also recorded double-digit year-over-year growth in transaction volumes from corporate customers. This growth indicates Tuniu’s successful efforts to strengthen its relationships with corporate clients and expand its footprint in the corporate travel sector.</p>
<div class="lb-trans"><p>公司还记录了来自企业客户的交易量同比增长两位数。这一增长表明途牛在加强与企业客户关系和扩大企业旅游市场份额方面的成功努力。</p>
</div><h2>Profitability Achieved</h2>
<div class="lb-trans"><h2>盈利能力实现</h2>
</div><p>Tuniu achieved quarterly profitability on both a GAAP and a non-GAAP basis, marking a significant milestone for the company. This achievement reflects the company’s effective cost management and revenue generation strategies.</p>
<div class="lb-trans"><p>途牛在 GAAP 和非 GAAP 基础上均实现了季度盈利，标志着公司一个重要的里程碑。这一成就反映了公司有效的成本管理和收入生成策略。</p>
</div><h2>Gross Profit Decline</h2>
<div class="lb-trans"><h2>毛利润下降</h2>
</div><p>Despite the positive revenue growth, Tuniu experienced a 10% year-over-year decline in gross profit for the third quarter of 2025, amounting to CNY 109.6 million. This decline poses a challenge for the company as it seeks to maintain profitability.</p>
<div class="lb-trans"><p>尽管收入增长积极，途牛在 2025 年第三季度的毛利润同比下降 10%，达到 1.096 亿元人民币。这一下降对公司维持盈利能力构成挑战。</p>
</div><h2>Decrease in Other Revenues</h2>
<div class="lb-trans"><h2>其他收入减少</h2>
</div><p>Other revenues decreased by 14% year-over-year due to a reduction in commission fees from other travel-related products. This decline suggests a need for Tuniu to diversify its revenue streams and reduce dependency on specific product lines.</p>
<div class="lb-trans"><p>由于其他旅游相关产品的佣金费用减少，其他收入同比下降 14%。这一下降表明途牛需要多样化其收入来源，减少对特定产品线的依赖。</p>
</div><h2>Rising Operating Expenses</h2>
<div class="lb-trans"><h2>运营费用上升</h2>
</div><p>Operating expenses for the third quarter increased by 3% year-over-year, reaching CNY 95.8 million. The rise in expenses highlights the challenges Tuniu faces in managing its operational costs while pursuing growth.</p>
<div class="lb-trans"><p>第三季度的运营费用同比增长 3%，达到 9580 万元人民币。费用的上升突显了途牛在追求增长的同时管理运营成本所面临的挑战。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指引</h2>
</div><p>Looking ahead, Tuniu Corp provided a positive outlook for its financial performance and operational growth. The company expects net revenues for the fourth quarter to range between CNY 111 million and CNY 116.1 million, representing an 8% to 13% year-over-year increase. Tuniu anticipates maintaining non-GAAP breakeven or profitability, driven by continued growth in both domestic and outbound travel segments.</p>
<div class="lb-trans"><p>展望未来，途牛公司对其财务表现和运营增长提供了积极的展望。公司预计第四季度的净收入将在 1.11 亿元至 1.161 亿元人民币之间，同比增长 8% 至 13%。途牛预计将维持非 GAAP 的盈亏平衡或盈利，得益于国内和出境旅游领域的持续增长。</p>
</div><p>In conclusion, Tuniu Corp’s earnings call revealed a company experiencing robust growth in key areas, yet facing challenges in maintaining profitability and managing expenses. The positive outlook for the upcoming quarter suggests that Tuniu is well-positioned to capitalize on market opportunities, despite the hurdles it must overcome.</p>
<div class="lb-trans"><p>总之，途牛公司的财报电话会议揭示了公司在关键领域经历强劲增长，但在维持盈利能力和管理费用方面面临挑战。对即将到来的季度的积极展望表明，尽管面临障碍，途牛在把握市场机会方面处于良好位置。</p>
</div>

途牛公司财报电话会议：在挑战中实现增长