HK Stock Market Move | TONGCHENGTRAVEL (00780) rose more than 5% after its performance report. Adjusted net profit in the third quarter hit a historical high, with significant growth in its online travel platform business.

TONGCHENGTRAVEL (00780) rose more than 5% after performance announcement, closing at 18.68 Hong Kong dollars as of the press release, up 5.54%, with a turnover of 148.039 million Hong Kong dollars. In terms of news, TONGCHENGTRAVEL announced its performance for the third quarter of 2024, with a turnover increasing by 2.4% year-on-year to 72.8 billion yuan; revenue of about 4.9915 billion yuan, up 51.3% year-on-year. During the period, net profit increased by 55.8% year-on-year to about 803 million yuan, adjusted EBITDA increased by 51.6% year-on-year to 1.3188 billion yuan, and adjusted net profit increased by 46.6% year-on-year to 910 million yuan. The average monthly paid users increased by 5.0% year-on-year to 46.4 million, and the annual paid users increased by 3.4% year-on-year to 232.4 million. The announcement stated that during the review quarter, the group's core online travel platform business achieved significant growth. Revenue from transportation ticketing services increased by 20.6% year-on-year to 20.268 billion yuan, reaching a new historical high. The revenue growth was mainly attributed to an increase in ticketing volume, combined with improvements in the group's value-added products and services. The group's airline ticketing business maintained growth momentum, with market share steadily increasing, and both business volume and revenue reaching new historical highs. By expanding the group's international product supply and leveraging pricing advantages, the group's international air ticket sales reached a new high, with a year-on-year increase of over 110%. The group's train ticketing business also achieved steady revenue growth, mainly due to the company's continued efforts to enhance its on-the-go intelligent travel system (providing users with more comprehensive travel solutions) and other strategies to improve monetization capabilities.