Chinese online tourism services provider Tuniu published its financial report for the third quarter ended September 30, 2020, stating that its net operating revenue was CNY123.5 million, which was about USD18.2 million, a year-on-year decrease of 85.5%.
Meanwhile, the company saw net losses of CNY62.1 million, which were about USD9.1 million, while its net losses were CNY12.6 million in the same period last year.
In addition, its cost of revenue was CNY58.5 million, which was about USD8.6 million, a year-on-year decrease of 87.6%. Its operating expenses were CNY127.8 million, which was about USD18.8 million, a year-on-year decrease of 70.8%. Its operating losses were CNY62.8 million, which were about USD9.2 million.
By September 30, 2020, Tuniu’s cash and cash equivalents, restricted cash and short-term investments totaled CNY1.6 billion, which were about USD229.2 million.
In addition, the company predicted that in the fourth quarter of 2020, its net operating revenue would reach CNY112.8 million to CNY135.4 million, a year-on-year decrease of 78% to 75%.
Source: ChinaTechNews.com
