Tuniu Q1 Net Loss Narrows On Revenue Strength; Sees Higher Revenues In Q2

(RTTNews) - Tuniu Corp. (TOUR), a china-based online leisure travel company, reported Friday that its first-half net loss attributable to ordinary shareholders was 288.2 million yuan or $41.9 million, narrower than last year's loss of 535.8 million yuan.

Adjusted attributable net loss was 227.1 million yuan or $33.0 million in the first quarter of 2017.

Net revenues were 456.0 million yuan or $66.3 million, a year-over-year increase of 60.4%.

Revenues from packaged tours climbed 53.5%.

Looking ahead, for the second quarter of 2017, Tuniu expects to generate 442.7 million yuan to 457.6 million yuan of net revenues, which represents 48% to 53% growth year-over-year compared with Non-GAAP net revenues in the corresponding period in 2016.

Further, Tuniu announced that effective May 25, Shengli Hu and Tao Yang were appointed as directors to the Company's board of directors, replacing Haoyu Shen and James Jiangzhang Liang, who have resigned from the board on the same date.

Shengli Hu also replaced Mr. Haoyu Shen as a member of the Company's compensation committee.