Citi released a Research Report stating that TONGCHENGTRAVEL's profits in the fourth quarter of 2024 exceed expectations. Although the baseline may be relatively high, driven by the increase in room nights, the growth momentum of the Lodging Business is expected to be maintained in the first half of 2025. Additionally, further cost control aims for the outbound tourism Business to achieve a break-even point. Citi has raised the profit forecasts for TONGCHENG this year and next by 2% and 1%, respectively, increasing the Target Price from HK$21 to HK$24, initiating a 30-day short-term positive outlook period, maintaining a "Buy" rating.