TONGCHENGTRAVEL (00780) releases its 2023 financial report: Annual paying users reach 235 million, hitting a new historical high.

On March 19, TONGCHENGTRAVEL (00780) released its performance report for the fourth quarter and full year of 2023. The financial report shows that the company achieved a revenue of 11.896 billion yuan and an adjusted net profit of 2.199 billion yuan for the full year of 2023. In 2023, TONGCHENGTRAVEL's accommodation business revenue was 3.9 billion yuan, a year-on-year increase of 61.5%, compared to a 65.4% increase in the same period in 2019; and the transportation business revenue was 6.03 billion yuan, a year-on-year increase of 78.5%, compared to a 33.5% increase in the same period in 2019. In the fourth quarter of 2023, TONGCHENGTRAVEL's domestic hotel room nights increased by over 70% compared to the same period in 2019, and international hotel room nights have fully recovered to the levels of 2019. Air ticket sales increased by over 16% compared to the same period in 2019, outperforming the industry as a whole. In terms of user growth, in 2023, TONGCHENGTRAVEL reached an average monthly paying user of 41.3 million, a year-on-year increase of 39.1%, and a 53.5% increase compared to 2019; and the annual paying users reached 235 million, a year-on-year increase of 25.2%, and a 54% increase compared to 2019, achieving a historical high. The company's main performance indicators exceeded expectations, leading the industry in recovery speed. TONGCHENGTRAVEL CEO Ma Heping stated that facing new market development opportunities both domestically and internationally, the company will focus on building a new generation national travel platform, continue to pay attention to technological innovation, and actively engage in experimentation. While serving the domestic mass consumer market well, the company will also accelerate its overseas business expansion to create greater value for users, partners, and social development.