Tongcheng Travel reported robust interim results for the six months ended 30 June 2026. Revenue advanced 10.5 % year on year to RMB9.99 billion, supported by solid growth in both accommodation reservations and other value-added services.
Adjusted EBITDA climbed 13.5 % to RMB2.66 billion, lifting the margin to 26.6 % from 25.9 % a year earlier. Adjusted net profit increased 14.6 % to RMB1.79 billion, with the adjusted net margin improving to 17.9 % (H1 2025: 17.3 %). Statutory profit before tax rose 10.9 % to RMB1.76 billion, while statutory net profit grew 7.4 % to RMB1.42 billion.
Core OTA operations contributed RMB8.79 billion, or 88 % of total revenue, up 12.7 %. Accommodation reservation revenue increased 11.1 % to RMB2.85 billion, transportation ticketing was broadly stable at RMB3.96 billion (+2.1 %), and “Others” revenues—mainly hotel management, advertising and ancillary services—jumped 46.4 % to RMB1.99 billion. Tourism-segment revenue, representing offline travel services and scenic-area operations, edged down 3.8 % to RMB1.20 billion.
Operating metrics showed softer user traffic but higher monetisation. Average monthly paying users declined 3.0 % to 45.1 million, yet annual paying users edged up 0.9 % to 253.9 million. Over the trailing twelve months, accumulated travellers served increased 2.7 % to 2.04 billion.
For Q2 2026 alone, revenue increased 6.8 % year on year to RMB4.99 billion and adjusted net profit rose 9.8 % to RMB850.9 million. The adjusted EBITDA margin improved slightly to 25.5 %.
As at 30 June 2026, cash and cash equivalents stood at RMB6.78 billion, while total borrowings amounted to RMB4.18 billion, translating to a gearing ratio of 23.7 %. No interim dividend was proposed.
Post-period, Tongcheng Travel’s subsidiary eLong acquired approximately 88.74 % of Dida Inc. via a voluntary general cash offer that became unconditional on 5 August 2026 and closed on 21 August 2026.
The Board confirms compliance with the Corporate Governance Code during the period, aside from the combined roles of Co-Chairman and CEO held by Mr Ma Heping following board changes in May 2026.