Zhitong Finance learned that TOUR.US (TOUR.US) announced financial results for the third quarter. Q3 revenue was 178 million yuan (RMB, same below), up 129% year on year. This increase is mainly due to a sharp rise in group travel business as the travel market recovers. Net profit was 39.1 million yuan, and the net loss for the same period last year was 23.5 million yuan.

By business division, the group travel business revenue was 150 million yuan, up 262% year on year; other business revenue was 28.1 million yuan, up 22.7% year on year. Gross profit was $115 million, up 155% year over year.

Looking ahead, Tuniu expects revenue for the fourth quarter of 2023 to reach 87.4 million yuan to 92.9 million yuan, a year-on-year increase of 220% to 240% compared with net revenue for the same period in 2022.

As of press release, Tuniu's US stock rose 5.16% to $1.12 in the premarket on Tuesday.