Tongcheng Travel Holdings reported second-quarter revenue of RMB 5.0 billion, up 6.8% from a year earlier, as growth in its core online travel agency business offset a decline in paying users. Adjusted net profit rose 9.8% to RMB 850.9 million, while adjusted EBITDA increased 7.3% to RMB 1.3 billion, the company said in a presentation dated August 24, 2026.
Core OTA revenue, which excludes tourism services, rose 8.4% to RMB 4.3 billion, with operating profit up 7.1% to RMB 1.1 billion. Total revenue for the first half of 2026 reached RMB 10.0 billion, a 10.5% increase year-over-year, while adjusted net profit climbed 14.6% to RMB 1.8 billion. Adjusted EBITDA for the period rose to RMB 2.7 billion, representing a margin of 26.6%, up from 25.5% in the same period last year.
Paying users on the platform fell 5.8% year-over-year to 43.7 million in the second quarter, extending a broader slowdown in domestic travel demand. For the first half of 2026, paying users declined 3.0% year-over-year, though the trailing 12-month average paying user base increased 0.9% to 253.9 million. Accumulated travelers served over the same period rose 2.7% to 2.04 billion, with 87% of registered users based outside China’s first-tier cities as of June 30, 2026.
Revenue composition in the second quarter showed transportation at 36.8%, accommodation at 29.7%, other services at 20.6%, and tourism at 12.9%. International room nights sold surged more than 50% year-over-year, though management flagged softer summer travel demand and extreme weather disruptions as headwinds for third-quarter growth. The company also noted compliance-related adjustments in train ticketing as a factor in its outlook.
Tongcheng Travel operates the Elong Hotel Technology Platform, ranked seventh in China by room count with over 3,200 hotels and 210,000 rooms. Its Wanda Hotels and Resorts unit, acquired in 2025, ranks 22nd with more than 300 properties and 51,000 rooms. The company holds an MSCI AAA ESG rating and has been included in S&P Global’s Sustainability Yearbook for four consecutive years.
Shares of Tongcheng Travel fell 1.87% to close at HKD 13.10 on Monday, extending declines from a 52-week high of HKD 25.42.
