NANJING, China, June 10,
2020 /PRNewswire/ -- Tuniu Corporation (NASDAQ:TOUR)
("Tuniu" or the "Company"), a leading online leisure travel company
in China, today announced its
unaudited financial results for the first quarter ended
March 31, 2020.
Mr. Donald Dunde Yu, Tuniu's founder, Chairman and Chief
Executive Officer, said, "Even though travel restrictions
implemented during the COVID-19 pandemic remain in place, we are
positive on the long-term prospect as there has been a strong
accumulation of demand for travel products. By leveraging our
experience in Tuniu-branded products and established network of
local tour operators, we will shift our focus on the domestic
market to offer high-quality domestic travel products to customers,
in order to meet the near-term challenges. We are also utilizing
new forms of distributions such as live-streaming and social
marketing to stimulate customer interest in various destinations
and travel products. Lastly, we remain committed to minimizing our
expenditures and optimizing our cash flows in preparation for the
full recovery of China's leisure
travel market."
First Quarter 2020 Results
Net revenues were RMB174.0
million (US$24.6
million[1]) in the first quarter of 2020,
representing a year-over-year decrease of 61.9% from the
corresponding period in 2019. The decrease was primarily due to the
negative impact brought out by the outbreak and spread of
COVID-19.
- Revenues from packaged tours were RMB120.2 million (US$17.0
million) in the first quarter of 2020, representing a
year-over-year decrease of 67.1% from the corresponding period in
2019. The decrease was primarily due to the suspension of sale of
packaged tours impacted by the outbreak and spread of
COVID-19[2].
- Other revenues were RMB53.7
million (US$7.6 million) in
the first quarter of 2020, representing a year-over-year decrease
of 40.9% from the corresponding period in 2019. The decrease was
primarily due to the declines in service fees received from
insurance companies and revenues generated from financial
services.
Cost of revenues was RMB81.5
million (US$11.5 million) in
the first quarter of 2020, representing a year-over-year decrease
of 60.5% from the corresponding period in 2019. As a percentage of
net revenues, cost of revenues was 46.8% in the first quarter of
2020, compared to 45.1% in the corresponding period in 2019.
Gross margin was 53.2% in the first quarter of 2020,
compare to a gross margin of 54.9% in the first quarter of
2019.
Operating expenses were RMB308.0
million (US$43.5 million) in
the first quarter of 2020, representing a year-over-year decrease
of 28.6% from the corresponding period in 2019. Share-based
compensation expenses, amortization of acquired intangible assets
and impairment of acquired intangible assets, which were
allocated to operating expenses, were RMB37.6 million (US$5.3
million) in the first quarter of 2020.
Non-GAAP[3] operating expenses, which
excluded share-based compensation expenses, amortization of
acquired intangible assets and impairment of acquired intangible
assets, were RMB270.4 million
(US$38.2 million) in the first
quarter of 2020, representing a year-over-year decrease of
27.8%.
- Research and product development expenses were
RMB51.0 million (US$7.2 million) in the first quarter of 2020,
representing a year-over-year decrease of 36.2%. Non-GAAP
research and product development expenses, which excluded
share-based compensation expenses and amortization of acquired
intangible assets of RMB3.1 million
(US$0.4 million), were RMB48.0 million (US$6.8
million) in the first quarter of 2020, representing a
year-over-year decrease of 35.6% from the corresponding period in
2019. The decrease was primarily due to the decrease in research
and product development personnel related expenses.
- Sales and marketing expenses were RMB124.7 million (US$17.6
million) in the first quarter of 2020, representing a
year-over-year decrease of 43.0%. Non-GAAP sales and marketing
expenses, which excluded share-based compensation expenses,
amortization of acquired intangible assets and impairment of
acquired intangible assets of RMB31.8
million (US$4.5 million), were
RMB92.9 million (US$13.1 million) in the first quarter of 2020,
representing a year-over-year decrease of 49.3% from the
corresponding period in 2019. The decrease was primarily due to the
decrease in promotion expenses and sales and marketing personnel
related expenses.
- General and administrative expenses were RMB133.9 million (US$18.9
million) in the first quarter of 2020, representing a
year-over-year decrease of 0.9%. The decrease was primarily due to
the decrease in general and administrative personnel related
expenses. Non-GAAP general and administrative expenses,
which excluded share-based compensation expenses and amortization
of acquired intangible assets of RMB2.7
million (US$0.4 million), were
RMB131.1 million (US$18.5 million) in the first quarter of 2020,
representing a year-over-year increase of 9.7% from the
corresponding period in 2019. The increase was primarily due to the
increase in allowance for doubtful accounts.
[1] The conversion of
Renminbi ("RMB") into United States dollars ("US$") is based on the
exchange rate of US$1.00=RMB7.0808 on March 31, 2020 as set forth
in H.10 statistical release of the U.S. Federal Reserve Board and
available at
https://www.federalreserve.gov/releases/h10/default.htm.
|
[2] On January 24,
2020, the Ministry of Culture and Tourism of the People's Republic
of China issued a notice requiring travel agencies, including
online travel agencies throughout the country to suspend the
operation of organized tours and the provision of a combination of
flight and hotel bookings.
|
[3] The section below
entitled "About Non-GAAP Financial Measures" provides information
about the use of Non-GAAP financial measures in this press release,
and the table captioned "Reconciliations of GAAP and Non-GAAP
Results" set forth at the end of this press release reconciles
Non-GAAP financial information with the Company's financial results
under GAAP.
|
Loss from operations was RMB215.5 million (US$30.4
million) in the first quarter of 2020, compared to a loss
from operations of RMB180.5 million
in the first quarter of 2019. Non-GAAP loss from operations,
which excluded share-based compensation expenses, amortization of
acquired intangible assets and impairment of acquired intangible
assets, was RMB177.7 million
(US$25.1 million) in the first
quarter of 2020.
Net loss was RMB205.2
million (US$29.0 million) in
the first quarter of 2020, compared to a net loss of RMB148.2 million in the first quarter of 2019.
Non-GAAP net loss, which excluded share-based compensation
expenses, amortization of acquired intangible assets and impairment
of acquired intangible assets, was RMB167.4
million (US$23.6 million) in
the first quarter of 2020.
Net loss attributable to ordinary shareholders was
RMB201.5 million (US$28.5 million) in the first quarter of 2020,
compared to a net loss attributable to ordinary shareholders of
RMB150.6 million in the first quarter
of 2019. Non-GAAP net loss attributable to ordinary
shareholders, which excluded share-based compensation expenses,
amortization of acquired intangible assets and impairment of
acquired intangible assets, was RMB163.7
million (US$23.1 million) in
the first quarter of 2020.
As of March 31, 2020, the Company
had cash and cash equivalents, restricted cash and short-term
investments of RMB2.1 billion
(US$296.6 million). The COVID-19
pandemic has negatively impacted our business operation and cash
flows for the first quarter of 2020, which could continue to impact
on subsequent periods. Based on our liquidity assessment and
management actions, we believe that our available cash, cash
equivalents and cash generated from future operations and maturity
of investments will be sufficient to meet our working capital
requirements and capital expenditures in the ordinary course of
business for the foreseeable future.
Business Outlook
Tuniu's business has been significantly and negatively impacted
by the outbreak and spread of COVID-19 since January 2020. As a result of the continued
influence by COVID-19, for the second quarter of 2020, the
Company expects to generate RMB20.8 million to
RMB72.8 million of net
revenues, which represents 86% to
96% decrease year-over-year. This forecast reflects Tuniu's
current and preliminary view on the industry and its operations,
which is subject to change.
Conference Call Information
Tuniu's management will hold an earnings conference call at
8:00 am U.S. Eastern Time, on
June 10, 2020, (8:00 pm, Beijing/Hong Kong Time, on June 10, 2020) to discuss the first quarter 2020
financial results.
To participate in the conference call, please dial the following
numbers:
US:
|
+1-888-346-8982
|
Hong Kong:
|
+852-301-84992
|
Mainland
China:
|
4001-201203
|
International:
|
+1-412-902-4272
|
Conference ID: Tuniu 1Q 2020 Earnings Call
A telephone replay will be available one hour after the end of
the conference through June 17, 2020.
The dial-in details are as follows:
US:
|
+1-877-344-7529
|
International:
|
+1-412-317-0088
|
Replay Access
Code:
|
10144584
|
Additionally, a live and archived webcast of the conference call
will also be available on the Company's investor relations website
at http://ir.tuniu.com.
About Tuniu
Tuniu (Nasdaq:TOUR) is a leading online leisure travel company
in China that offers a large
selection of packaged tours, including organized and self-guided
tours, as well as travel-related services for leisure travelers
through its website tuniu.com and mobile platform. Tuniu
covers over 420 departing cities throughout China and all popular destinations worldwide.
Tuniu provides one-stop leisure travel solutions and a compelling
customer experience through its online platform and offline service
network, including a dedicated team of professional customer
service representatives, 24/7 call centers, extensive networks of
offline retail stores and self-operated local tour operators. For
more information, please visit http://ir.tuniu.com.
Safe Harbor Statement
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates," "confident" and similar statements. Tuniu may also
make written or oral forward-looking statements in its reports
filed with or furnished to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Any statements
that are not historical facts, including statements about Tuniu's
beliefs and expectations, are forward-looking statements that
involve factors, risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. Such factors and risks include, but are not limited to
the following: Tuniu's goals and strategies; the growth of the
online leisure travel market in China; the demand for Tuniu's products and
services; its relationships with customers and travel suppliers;
the Company's ability to offer competitive travel products and
services; Tuniu's future business development, results of
operations and financial condition; competition in the online
travel industry in China; relevant
government policies and regulations relating to the Company's
structure, business and industry; the impact of the COVID-19 on
Tuniu's business operations, the travel industry and the economy of
China and elsewhere generally; and
the general economic and business condition in China and elsewhere. Further information
regarding these and other risks, uncertainties or factors is
included in the Company's filings with the U.S. Securities and
Exchange Commission. All information provided in this press release
is current as of the date of the press release, and Tuniu does not
undertake any obligation to update such information, except as
required under applicable law.
About Non-GAAP Financial Measures
To supplement the Company's unaudited consolidated financial
results presented in accordance with United States Generally
Accepted Accounting Principles ("GAAP"), the Company has provided
non-GAAP information related to cost of revenues, research and
product development expenses, sales and marketing expenses, general
and administrative expenses, other operating income, total
operating expenses, loss from operations, net loss, net loss
attributable to ordinary shareholders, net loss per ordinary share
attributable to ordinary shareholders-basic and diluted and net
loss per ADS-basic and diluted, which excludes share-based
compensation expenses, amortization of acquired intangible assets
and impairment of acquired intangible assets. We believe that the
non-GAAP financial measures used in this press release are useful
for understanding and assessing underlying business performance and
operating trends, and management and investors benefit from
referring to these non-GAAP financial measures in assessing our
financial performance and when planning and forecasting future
periods. For more information on these non-GAAP financial measures,
please see the table captioned "Reconciliations of GAAP and
non-GAAP Results" set forth at the end of this press release.
A limitation of using non-GAAP financial measures excluding
share-based compensation expenses, amortization of acquired
intangible assets and impairment of acquired intangible assets is
that share-based compensation expenses, amortization of acquired
intangible assets and impairment of acquired intangible assets have
been – and will continue to be – significant recurring expenses in
the Company's business. You should not view non-GAAP results on a
stand-alone basis or as a substitute for results under GAAP, or as
being comparable to results reported or forecasted by other
companies.
For investor and media inquiries, please contact:
China
Mary Chen
Investor Relations Director
Tuniu Corporation
Phone: +86-25-6960-9988
E-mail: ir@tuniu.com
(Financial Tables Follow)
Tuniu
Corporation
|
Unaudited
Condensed Consolidated Balance Sheets
|
(All amounts in
thousands, except per share information)
|
|
|
December 31,
2019
|
|
March 31,
2020
|
|
March 31,
2020
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
Cash and
cash equivalents
|
295,463
|
|
590,948
|
|
83,458
|
Restricted cash
|
327,052
|
|
111,754
|
|
15,783
|
Short-term investments
|
1,305,386
|
|
1,397,273
|
|
197,333
|
Accounts
receivable, net
|
529,983
|
|
450,756
|
|
63,659
|
Amounts
due from related parties
|
65,108
|
|
62,727
|
|
8,859
|
Prepayments and other current assets
|
1,300,284
|
|
951,691
|
|
134,404
|
Total current
assets
|
3,823,276
|
|
3,565,149
|
|
503,496
|
|
|
|
|
|
|
Non-current
assets
|
|
|
|
|
|
Long-term investments
|
1,305,612
|
|
786,646
|
|
111,096
|
Property
and equipment, net
|
223,340
|
|
210,132
|
|
29,676
|
Intangible assets, net
|
166,267
|
|
130,618
|
|
18,447
|
Land use
right, net
|
98,774
|
|
98,259
|
|
13,877
|
Operating lease right-of-use assets, net
|
105,839
|
|
87,515
|
|
12,359
|
Goodwill
|
232,007
|
|
232,007
|
|
32,766
|
Other
non-current assets
|
83,923
|
|
70,856
|
|
10,007
|
Long-term amounts due from related parties
|
557,582
|
|
554,179
|
|
78,265
|
Total non-current
assets
|
2,773,344
|
|
2,170,212
|
|
306,493
|
Total
assets
|
6,596,620
|
|
5,735,361
|
|
809,989
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
Short-term borrowings
|
203,845
|
|
203,672
|
|
28,764
|
Accounts
and notes payable
|
1,311,963
|
|
1,129,995
|
|
159,586
|
Amounts
due to related parties
|
29,755
|
|
26,594
|
|
3,756
|
Salary
and welfare payable
|
112,511
|
|
75,721
|
|
10,694
|
Taxes
payable
|
12,207
|
|
4,230
|
|
597
|
Advances
from customers
|
1,113,879
|
|
492,277
|
|
69,523
|
Operating lease liabilities, current
|
57,490
|
|
57,167
|
|
8,074
|
Accrued
expenses and other current liabilities
|
907,119
|
|
1,118,539
|
|
157,968
|
Total current
liabilities
|
3,748,769
|
|
3,108,195
|
|
438,962
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
|
Operating lease liabilities, non-current
|
54,718
|
|
45,541
|
|
6,432
|
Deferred
tax liabilities
|
23,658
|
|
22,829
|
|
3,224
|
Long-term borrowings
|
9,689
|
|
10,941
|
|
1,545
|
Other
non-current liabilities
|
10,947
|
|
10,947
|
|
1,546
|
Total non-current
liabilities
|
99,012
|
|
90,258
|
|
12,747
|
Total
liabilities
|
3,847,781
|
|
3,198,453
|
|
451,709
|
|
|
|
|
|
|
Mezzanine
equity
|
|
|
|
|
|
Redeemable
noncontrolling interests
|
37,200
|
|
37,200
|
|
5,254
|
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
Ordinary
shares
|
249
|
|
249
|
|
35
|
Less:
Treasury stock
|
(310,942)
|
|
(310,724)
|
|
(43,883)
|
Additional paid-in capital
|
9,113,512
|
|
9,117,787
|
|
1,287,678
|
Accumulated other comprehensive income
|
293,784
|
|
301,875
|
|
42,633
|
Accumulated deficit*
|
(6,385,974)
|
|
(6,606,860)
|
|
(933,067)
|
Total Tuniu's
shareholders' equity
|
2,710,629
|
|
2,502,327
|
|
353,396
|
Noncontrolling
interests
|
1,010
|
|
(2,619)
|
|
(370)
|
Total
Shareholders' equity
|
2,711,639
|
|
2,499,708
|
|
353,026
|
Total liabilities
and shareholders' equity
|
6,596,620
|
|
5,735,361
|
|
809,989
|
|
|
|
|
|
|
|
|
|
|
|
|
*On 1 January 2020,
the Company adopted ASU No. 2016-13 (ASU 2016-13), "Financial
Instruments – Credit Losses", and recognized a
cumulative-effect adjustment to the opening retained earnings at
the adoption date.
|
Tuniu
Corporation
|
|
|
|
|
Unaudited
Condensed Consolidated Statements of Comprehensive
Loss
|
|
|
|
|
(All amounts in
thousands, except per share information)
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
Quarter Ended
|
|
Quarter Ended
|
|
Quarter Ended
|
|
|
|
|
|
March 31,
2019
|
|
December 31,
2019
|
|
March 31,
2020
|
|
March 31,
2020
|
|
|
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
Packaged
tours
|
365,893
|
|
344,325
|
|
120,240
|
|
16,981
|
|
|
|
|
Others
|
90,964
|
|
106,958
|
|
53,741
|
|
7,590
|
|
|
|
|
Net
revenues
|
456,857
|
|
451,283
|
|
173,981
|
|
24,571
|
|
|
|
|
Cost of
revenues
|
(206,019)
|
|
(234,623)
|
|
(81,460)
|
|
(11,504)
|
|
|
|
|
Gross
profit
|
250,838
|
|
216,660
|
|
92,521
|
|
13,067
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses
|
|
|
|
|
|
|
|
|
|
|
|
Research
and product development
|
(80,016)
|
|
(79,038)
|
|
(51,026)
|
|
(7,206)
|
|
|
|
|
Sales
and marketing
|
(218,820)
|
|
(239,898)
|
|
(124,698)
|
|
(17,611)
|
|
|
|
|
General
and administrative
|
(135,072)
|
|
(341,487)
|
|
(133,860)
|
|
(18,905)
|
|
|
|
|
Other
operating income
|
2,543
|
|
9,545
|
|
1,574
|
|
222
|
|
|
|
|
Total operating
expenses
|
(431,365)
|
|
(650,878)
|
|
(308,010)
|
|
(43,500)
|
|
|
|
|
Loss from
operations
|
(180,527)
|
|
(434,218)
|
|
(215,489)
|
|
(30,433)
|
|
|
|
|
Other
income/(expenses)
|
|
|
|
|
|
|
|
|
|
|
|
Interest
and investment income, net
|
38,671
|
|
38,766
|
|
21,852
|
|
3,086
|
|
|
|
|
Interest
expense
|
(6,810)
|
|
(11,372)
|
|
(10,499)
|
|
(1,483)
|
|
|
|
|
Foreign
exchange (losses)/gains, net
|
(303)
|
|
3,272
|
|
(877)
|
|
(124)
|
|
|
|
|
Other
income/(loss), net
|
268
|
|
2,808
|
|
(1,718)
|
|
(243)
|
|
|
|
|
Loss before income
tax expense
|
(148,701)
|
|
(400,744)
|
|
(206,731)
|
|
(29,197)
|
|
|
|
|
Income tax
benefit/(expense)
|
525
|
|
(2,910)
|
|
817
|
|
115
|
|
|
|
|
Equity in income of
affiliates
|
-
|
|
2,223
|
|
744
|
|
105
|
|
|
|
|
Net
loss
|
(148,176)
|
|
(401,431)
|
|
(205,170)
|
|
(28,977)
|
|
|
|
|
Net income/(loss)
attributable to noncontrolling interests
|
1,169
|
|
(35,957)
|
|
(3,629)
|
|
(513)
|
|
|
|
|
Net income/(loss)
attributable to redeemable noncontrolling
interests
|
714
|
|
123
|
|
(81)
|
|
(11)
|
|
|
|
|
Net loss
attributable to Tuniu Corporation
|
(150,059)
|
|
(365,597)
|
|
(201,460)
|
|
(28,453)
|
|
|
|
|
Accretion on
redeemable noncontrolling interests
|
(543)
|
|
(1,540)
|
|
(81)
|
|
(11)
|
|
|
|
|
Net loss
attributable to ordinary shareholders
|
(150,602)
|
|
(367,137)
|
|
(201,541)
|
|
(28,464)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
loss
|
(148,176)
|
|
(401,431)
|
|
(205,170)
|
|
(28,977)
|
|
|
|
|
Other comprehensive
(loss)/income:
|
|
|
|
|
|
|
|
|
|
|
|
Foreign
currency translation adjustment, net of nil tax
|
(4,742)
|
|
(4,939)
|
|
8,091
|
|
1,143
|
|
|
|
|
Comprehensive
loss
|
(152,918)
|
|
(406,370)
|
|
(197,079)
|
|
(27,834)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per ordinary
share attributable to ordinary
shareholders - basic and diluted
|
(0.41)
|
|
(0.99)
|
|
(0.54)
|
|
(0.08)
|
|
|
|
|
Net loss per ADS -
basic and diluted*
|
(1.23)
|
|
(2.97)
|
|
(1.62)
|
|
(0.24)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ordinary shares used in computing basic and diluted loss
per share
|
369,190,766
|
|
369,797,249
|
|
370,055,731
|
|
370,055,731
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses included are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
1,869
|
|
258
|
|
207
|
|
29
|
|
|
|
|
Research
and product development
|
5,041
|
|
839
|
|
2,136
|
|
302
|
|
|
|
|
Sales
and marketing
|
1,416
|
|
267
|
|
205
|
|
29
|
|
|
|
|
General
and administrative
|
14,835
|
|
5,500
|
|
2,025
|
|
286
|
|
|
|
|
Total
|
23,161
|
|
6,864
|
|
4,573
|
|
646
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*Each ADS represents
three of the Company's ordinary shares.
|
|
|
|
|
|
|
|
|
|
|
Reconciliations of GAAP and Non-GAAP
Results
|
(All amounts in
thousands, except per share information)
|
|
|
|
|
|
|
|
|
|
|
|
Quarter
Ended March 31, 2020
|
|
GAAP
|
|
Share-based
|
|
Amortization of
acquired
|
|
Impairment of
acquired
|
|
Non-GAAP
|
|
Result
|
|
Compensation
|
|
intangible
assets
|
|
intangible
assets
|
|
Result
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
(81,460)
|
|
207
|
|
-
|
|
-
|
|
(81,253)
|
|
|
|
|
|
|
|
|
|
|
Research and product
development
|
(51,026)
|
|
2,136
|
|
933
|
|
-
|
|
(47,957)
|
Sales and
marketing
|
(124,698)
|
|
205
|
|
22,050
|
|
9,554
|
|
(92,889)
|
General and
administrative
|
(133,860)
|
|
2,025
|
|
709
|
|
-
|
|
(131,126)
|
Other operating
income
|
1,574
|
|
-
|
|
-
|
|
-
|
|
1,574
|
Total operating
expenses
|
(308,010)
|
|
4,366
|
|
23,692
|
|
9,554
|
|
(270,398)
|
|
|
|
|
|
|
|
|
|
|
Loss from
operations
|
(215,489)
|
|
4,573
|
|
23,692
|
|
9,554
|
|
(177,670)
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
(205,170)
|
|
4,573
|
|
23,692
|
|
9,554
|
|
(167,351)
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable
to ordinary shareholders
|
(201,541)
|
|
4,573
|
|
23,692
|
|
9,554
|
|
(163,722)
|
|
|
|
|
|
|
|
|
|
|
Net loss per ordinary
share attributable to ordinary
shareholders - basic and diluted
|
(0.54)
|
|
|
|
|
|
|
|
(0.44)
|
Net loss per ADS -
basic and diluted
|
(1.62)
|
|
|
|
|
|
|
|
(1.32)
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ordinary shares used
in computing basic and diluted loss per share
|
370,055,731
|
|
|
|
|
|
|
|
370,055,731
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter
Ended December 31, 2019
|
|
GAAP
|
|
Share-based
|
|
Amortization of
acquired
|
|
Impairment of
acquired
|
|
Non-GAAP
|
|
Result
|
|
Compensation
|
|
intangible
assets
|
|
intangible
assets
|
|
Result
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
(234,623)
|
|
258
|
|
-
|
|
-
|
|
(234,365)
|
|
|
|
|
|
|
|
|
|
|
Research and product
development
|
(79,038)
|
|
839
|
|
793
|
|
-
|
|
(77,406)
|
Sales and
marketing
|
(239,898)
|
|
267
|
|
34,649
|
|
32,014
|
|
(172,968)
|
General and
administrative
|
(341,487)
|
|
5,500
|
|
705
|
|
-
|
|
(335,282)
|
Other operating
income
|
9,545
|
|
-
|
|
-
|
|
-
|
|
9,545
|
Total operating
expenses
|
(650,878)
|
|
6,606
|
|
36,147
|
|
32,014
|
|
(576,111)
|
|
|
|
|
|
|
|
|
|
|
Loss from
operations
|
(434,218)
|
|
6,864
|
|
36,147
|
|
32,014
|
|
(359,193)
|
|
|
|
|
|
|
|
|
|
|
Net Loss
|
(401,431)
|
|
6,864
|
|
36,147
|
|
32,014
|
|
(326,406)
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable
to ordinary shareholders
|
(367,137)
|
|
6,864
|
|
36,147
|
|
32,014
|
|
(292,112)
|
|
|
|
|
|
|
|
|
|
|
Net loss per ordinary
share attributable to ordinary
shareholders - basic and diluted
|
(0.99)
|
|
|
|
|
|
|
|
(0.79)
|
Net loss per ADS -
basic and diluted
|
(2.97)
|
|
|
|
|
|
|
|
(2.37)
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ordinary shares
used in computing basic and diluted loss per
share
|
369,797,249
|
|
|
|
|
|
|
|
369,797,249
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter
Ended March 31, 2019
|
|
GAAP
|
|
Share-based
|
|
Amortization of
acquired
|
|
Impairment of
acquired
|
|
Non-GAAP
|
|
Result
|
|
Compensation
|
|
intangible
assets
|
|
intangible
assets
|
|
Result
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
(206,019)
|
|
1,869
|
|
-
|
|
-
|
|
(204,150)
|
|
|
|
|
|
|
|
|
|
|
Research and product
development
|
(80,016)
|
|
5,041
|
|
513
|
|
-
|
|
(74,462)
|
Sales and
marketing
|
(218,820)
|
|
1,416
|
|
34,163
|
|
-
|
|
(183,241)
|
General and
administrative
|
(135,072)
|
|
14,835
|
|
703
|
|
-
|
|
(119,534)
|
Other operating
income
|
2,543
|
|
-
|
|
-
|
|
-
|
|
2,543
|
Total operating
expenses
|
(431,365)
|
|
21,292
|
|
35,379
|
|
-
|
|
(374,694)
|
|
|
|
|
|
|
|
|
|
|
Loss from
operations
|
(180,527)
|
|
23,161
|
|
35,379
|
|
-
|
|
(121,987)
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
(148,176)
|
|
23,161
|
|
35,379
|
|
-
|
|
(89,636)
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable
to ordinary shareholders
|
(150,602)
|
|
23,161
|
|
35,379
|
|
-
|
|
(92,062)
|
|
|
|
|
|
|
|
|
|
|
Net loss per ordinary
share attributable to ordinary
shareholders - basic and diluted
|
(0.41)
|
|
|
|
|
|
|
|
(0.25)
|
Net loss per ADS -
basic and diluted
|
(1.23)
|
|
|
|
|
|
|
|
(0.75)
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ordinary shares used
in computing basic and diluted loss per share
|
369,190,766
|
|
|
|
|
|
|
|
369,190,766
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*Basic net loss per
ordinary share attributable to ordinary shareholders is calculated
by dividing net loss attributable to ordinary shareholders by the
weighted
average number of ordinary shares outstanding during the periods.
Diluted net loss per ordinary share attributable to ordinary
shareholders is calculated by
dividing net loss attributable to ordinary shareholders by the
weighted average number of ordinary shares and dilutive potential
ordinary shares outstanding
during the periods, including the dilutive effect of share-based
awards as determined under the treasury stock method.
|
View original
content:http://www.prnewswire.com/news-releases/tuniu-announces-unaudited-first-quarter-2020-financial-results-301073541.html
SOURCE Tuniu