Chinese online tourism service provider Tuniu.com recently published its financial report for the third quarter ended September 30, 2019, stating that the company’s net operating revenue was CNY852.5 million, a year-on-year increase of 11.7%; and the company made net losses of CNY12.6 million during the reporting period while it gained net profit of CNY28 million in the same period of last year.
According to the report, Tuniu’s operating expense was CNY437.3 million, a year-on-year increase of 10.7%; its research and development expense was CNY64.3 million, a year-on-year decrease of 17.8%; and its sales and marketing expense was CNY240 million, a year-on-year increase of 14.5%.
Tuniu predicted that in the fourth quarter of 2019, the company’s net operating revenue would be between CNY438.2 million and CNY461.8 million, representing a year-on-year decline of 2% to 7%.
Source: ChinaTechNews.com
