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We will continue to explore rural tourism and B&B with an asset-light model in order to support the utilization and the development of the local tourism industry and enrich Tuniu’s product offerings for our guests. Tuniu’s self-operated B&B in changing has been experiencing increase in occupancy since it was opened the May last year with revenue growth of over 200% year-on-year in both June and July of this year. Tuniu also collaborates with the several village tourism projects on operation and management, in addition to their product development and promotion by leveraging our advantages and funds in the industrial chain. In addition to traditional tours the experiential tours have become more popular and help to provide opportunities for the high quality development of village tourism and boutique band beat. In terms of product innovation, during the second quarter, we continue to explore village tour products as customer demand continues to become more diversified. Taking one of our new tool products designed for Xinjiang as an example, we increased the number of the tour groups to meet the high demand in July with the sales of the product, exceeding RMB3 million in a single month. Leveraging Tuniu’s high quality products and the reputation we aim to develop more popular products to meet the high market demand during the peak seasons. Tuniu’s high quality products are the key to our high customer retention rate with the contribution of our repeat customers to overall GMV remaining at over 70%, since the pandemic broke out. Since it was first launched over a decade ago, new tools production ecosystem has developed its own operating process and standards for product design, resource selection, customer service, and evaluation. In terms of our product new tool our core self-operated product continues to offer a high level of standard services to meet diverse customer demand. By keeping our focus on providing high quality products and services during times of external challenges, we are able to weather industry downturns and recover quickly during the rebound. With the peak travel season starting in July booking volume for several popular destinations increased significantly with Tuniu’s booking volume doubling in July compared to the previous month.
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Tuniu’s total travel GMV growth exceeded 100% month-over-month during June and July, despite the setback in the second quarter. The enthusiasm for travel among the public remained high with demand increasing since the first half of the year. The industry also benefited from variable policies, such as more relaxed travel restrictions. In June, we saw a rapid recovery as outbreaks were better controlled. Welcome to our second quarter 2022 earnings conference call.ĭuring the second quarter, while in April and May, tourism was impacted by most severe resurgence of COVID-19. I would now like to turn the call over to our Founder, Chairman and Chief Executive Officer, Donald Yu. Finally, please note that unless otherwise stated, all figures mentioned during this conference call are in RMB. Please refer to our earnings release, which contains a reconciliation of non-GAAP measures to the most directly comparable GAAP measures. Also, this call includes discussions of certain non-GAAP financial measures. Joining me on the call today are Donald Yu, Tuniu's Founder, Chairman and Chief Executive Officer and Anqiang Chen, Tuniu's Financial Controller.įor today's agenda, management will discuss business updates, operation highlights and financial performance for the second quarter of 2022.īefore we continue, I refer you to our Safe Harbor statement in earnings press release, which applies to this call, as we will make forward-looking statements. And welcome to our 2022 second quarter earnings conference call. I would now like to turn the meeting over to your host for today's conference call, Director of Investor Relations, Mary. If you have any objections, you may disconnect at this time. After management's prepared remarks, there will be a question-and-answer session. Hello, and thank you for standing by for Tuniu's 2022 Second Quarter Earnings Conference Call. Tuniu Corporation ( NASDAQ: TOUR) Q2 2022 Earnings Conference Call Septem8:00 AM ETĭonald Yu – Founder, Chairman and Chief Executive Officer