NANJING, China, Aug. 28,
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 second quarter ended
June 30, 2020.
"After nearly six months of downturn caused by the COVID-19
outbreak, we are encouraged to see that China's domestic travel market is finally
showing signs of recovery. We will continue to uphold our 'Customer
First' principle in order to provide the best possible products and
services to satisfy pent-up customer demand. Furthermore, we have
adjusted our product strategy to focus on innovative and premium
products in order to meet customers' more exacting standards in the
post COVID-19 era. In cooperation with our industry partners, we
are committed to providing our customers with superior travel
experiences." Mr. Donald Dunde Yu, Tuniu's founder, Chairman and
Chief Executive Officer, said, "In the second quarter our operating
expenses continued to decline on a sequential basis. In the second
half of the year, we expect to see the gradual recovery of revenues
alongside the increasingly positive impact of our cost control
measures."
Second Quarter 2020 Results
Net revenues were RMB34.0
million (US$4.8
million[1]) in the second quarter of 2020,
representing a year-over-year decrease of 93.5% from the
corresponding period in 2019. The decrease was primarily due to the
negative impact brought by the outbreak and spread of COVID-19.
- Revenues from packaged tours were RMB12.6 million (US$1.8
million) in the second quarter of 2020, representing a
year-over-year decrease of 97.1% 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 RMB21.5
million (US$3.0 million) in
the second quarter of 2020, representing a year-over-year decrease
of 76.4% from the corresponding period in 2019. The decrease was
primarily due to the declines in service fees received from
insurance companies and commissions received from other
travel-related products impacted by the outbreak and spread of
COVID-19.
[1] The
conversion of Renminbi ("RMB") into United States dollars ("US$")
is based on the exchange rate of US$1.00=RMB7.0651 on June 30, 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.
|
Cost of revenues was RMB26.3
million (US$3.7 million) in
the second quarter of 2020, representing a year-over-year decrease
of 90.8% from the corresponding period in 2019. As a percentage of
net revenues, cost of revenues was 77.3% in the second quarter of
2020, compared to 55.2% in the corresponding period in 2019.
Gross margin was 22.7% in the second quarter of 2020,
compared to a gross margin of 44.8% in the second quarter of 2019.
The decrease was primarily due to the decline in net revenues
impacted by the outbreak and spread of COVID-19.
Operating expenses were RMB158.1
million (US$22.4 million) in
the second quarter of 2020, representing a year-over-year decrease
of 63.4% from the corresponding period in 2019. Share-based
compensation expenses and amortization of acquired intangible
assets, which were allocated to operating expenses, were
RMB19.1 million (US$2.7 million) in the second quarter of 2020.
Non-GAAP[3] operating
expenses, which excluded share-based compensation expenses and
amortization of acquired intangible assets, were RMB138.9 million (US$19.7
million) in the second quarter of 2020, representing a
year-over-year decrease of 63.7%.
- Research and product development expenses were
RMB20.6 million (US$2.9 million) in the second quarter of 2020,
representing a year-over-year decrease of 74.3%. Non-GAAP
research and product development expenses, which excluded
share-based compensation expenses and amortization of acquired
intangible assets of RMB1.6 million
(US$0.2 million), were RMB19.0 million (US$2.7
million) in the second quarter of 2020, representing a
year-over-year decrease of 74.8% 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 RMB84.3 million (US$11.9
million) in the second quarter of 2020, representing a
year-over-year decrease of 62.5%. Non-GAAP sales and marketing
expenses, which excluded share-based compensation expenses and
amortization of acquired intangible assets of RMB15.1 million (US$2.1
million), were RMB69.2 million
(US$9.8 million) in the second
quarter of 2020, representing a year-over-year decrease of 63.4%
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 RMB61.0 million (US$8.6
million) in the second quarter of 2020, representing a
year-over-year decrease of 54.6%. Non-GAAP general and
administrative expenses, which excluded share-based
compensation expenses and amortization of acquired intangible
assets of RMB2.5 million
(US$0.3 million), were RMB58.5 million (US$8.3
million) in the second quarter of 2020, representing a
year-over-year decrease of 53.2% from the corresponding period in
2019. The decrease was primarily due to the decrease in general and
administrative personnel related expenses.
[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 RMB150.3 million (US$21.3
million) in the second quarter of 2020, compared to a loss
from operations of RMB199.2 million
in the second quarter of 2019. Non-GAAP loss from
operations, which excluded share-based compensation expenses
and amortization of acquired intangible assets, was RMB131.0 million (US$18.5
million) in the second quarter of 2020.
Net loss was RMB154.6
million (US$21.9 million) in
the second quarter of 2020, compared to a net loss of RMB167.2 million in the second quarter of 2019.
Non-GAAP net loss, which excluded share-based compensation
expenses and amortization of acquired intangible assets, was
RMB135.3 million (US$19.1 million) in the second quarter of
2020.
Net loss attributable to ordinary shareholders was
RMB147.6 million (US$20.9 million) in the second quarter of 2020,
compared to a net loss attributable to ordinary shareholders of
RMB168.0 million in the second
quarter of 2019. Non-GAAP net loss attributable to ordinary
shareholders, which excluded share-based compensation expenses
and amortization of acquired intangible assets, was RMB128.3 million (US$18.2
million) in the second quarter of 2020.
As of June 30, 2020, the Company
had cash and cash equivalents, restricted cash and short-term
investments of RMB1.6 billion
(US$225.2 million). The COVID-19
pandemic has negatively impacted our business operation and cash
flows for the second 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 maturity of investments will be sufficient to meet
our working capital requirements and capital expenditures in the
ordinary course of business for the next twelve months.
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 third quarter of 2020, the Company
expects to generate RMB85.3 million
to RMB170.5 million of net revenues,
which represents 80% to 90% decrease year-over-year, and 151% to
401% increase quarter-over-quarter. 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
August 28, 2020, (8:00 pm, Beijing/Hong Kong Time, on August 28, 2020) to discuss the second 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 2Q 2020
Earnings Call
|
A telephone replay will be available one hour after the end of
the conference through September 3,
2020. The dial-in details are as follows:
US:
|
+1-877-344-7529
|
International:
|
+1-412-317-0088
|
Replay Access
Code:
|
10147497
|
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.
(Financial Tables Follow)
Tuniu
Corporation
|
Unaudited
Condensed Consolidated Balance Sheets
|
(All amounts in
thousands, except per share information)
|
|
|
December 31,
2019
|
|
June 30,
2020
|
|
June 30,
2020
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
Cash and cash
equivalents
|
295,463
|
|
527,934
|
|
74,724
|
Restricted
cash
|
327,052
|
|
85,904
|
|
12,159
|
Short-term
investments
|
1,305,386
|
|
976,996
|
|
138,285
|
Accounts receivable,
net
|
529,983
|
|
364,146
|
|
51,542
|
Amounts due from related
parties
|
65,108
|
|
50,998
|
|
7,218
|
Prepayments and other
current assets
|
1,300,284
|
|
899,562
|
|
127,324
|
Total current
assets
|
3,823,276
|
|
2,905,540
|
|
411,252
|
|
|
|
|
|
|
Non-current
assets
|
|
|
|
|
|
Long-term
investments
|
1,305,612
|
|
557,446
|
|
78,901
|
Property and equipment,
net
|
223,340
|
|
197,230
|
|
27,916
|
Intangible assets,
net
|
166,267
|
|
112,602
|
|
15,938
|
Land use right,
net
|
98,774
|
|
97,744
|
|
13,835
|
Operating lease right-of-use
assets, net
|
105,839
|
|
54,945
|
|
7,777
|
Goodwill
|
232,007
|
|
232,007
|
|
32,838
|
Other non-current
assets
|
83,923
|
|
60,147
|
|
8,514
|
Long-term amounts due from
related parties
|
557,582
|
|
552,328
|
|
78,177
|
Total non-current
assets
|
2,773,344
|
|
1,864,449
|
|
263,896
|
Total
assets
|
6,596,620
|
|
4,769,989
|
|
675,148
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
Short-term
borrowings
|
203,845
|
|
50,602
|
|
7,162
|
Accounts and notes
payable
|
1,311,963
|
|
998,689
|
|
141,355
|
Amounts due to related
parties
|
29,755
|
|
27,913
|
|
3,951
|
Salary and welfare
payable
|
112,511
|
|
52,836
|
|
7,478
|
Taxes payable
|
12,207
|
|
2,255
|
|
319
|
Advances from
customers
|
1,113,879
|
|
229,856
|
|
32,534
|
Operating lease liabilities,
current
|
57,490
|
|
35,451
|
|
5,018
|
Accrued expenses and other
current liabilities
|
907,119
|
|
897,505
|
|
127,034
|
Total current
liabilities
|
3,748,769
|
|
2,295,107
|
|
324,851
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
|
Operating lease liabilities,
non-current
|
54,718
|
|
37,551
|
|
5,315
|
Deferred tax
liabilities
|
23,658
|
|
22,029
|
|
3,118
|
Long-term
borrowings
|
9,689
|
|
19,403
|
|
2,746
|
Other non-current
liabilities
|
10,947
|
|
10,947
|
|
1,550
|
Total non-current
liabilities
|
99,012
|
|
89,930
|
|
12,729
|
Total
liabilities
|
3,847,781
|
|
2,385,037
|
|
337,580
|
|
|
|
|
|
|
Mezzanine
equity
|
|
|
|
|
|
Redeemable
noncontrolling interests
|
37,200
|
|
37,261
|
|
5,274
|
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
Ordinary shares
|
249
|
|
249
|
|
35
|
Less: Treasury
stock
|
(310,942)
|
|
(308,146)
|
|
(43,615)
|
Additional paid-in
capital
|
9,113,512
|
|
9,118,231
|
|
1,290,602
|
Accumulated other
comprehensive income
|
293,784
|
|
301,604
|
|
42,689
|
Accumulated
deficit*
|
(6,385,974)
|
|
(6,754,555)
|
|
(956,045)
|
Total Tuniu's
shareholders' equity
|
2,710,629
|
|
2,357,383
|
|
333,666
|
Noncontrolling
interests
|
1,010
|
|
(9,692)
|
|
(1,372)
|
Total
Shareholders' equity
|
2,711,639
|
|
2,347,691
|
|
332,294
|
Total liabilities
and shareholders' equity
|
6,596,620
|
|
4,769,989
|
|
675,148
|
|
|
|
|
|
|
|
|
|
|
|
|
*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
|
|
June 30,
2019
|
|
March 31,
2020
|
|
June 30,
2020
|
|
June 30,
2020
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
|
|
|
|
|
Packaged tours
|
429,482
|
|
120,240
|
|
12,563
|
|
1,778
|
Others
|
90,848
|
|
53,741
|
|
21,461
|
|
3,038
|
Net
revenues
|
520,330
|
|
173,981
|
|
34,024
|
|
4,816
|
Cost of
revenues
|
(287,330)
|
|
(81,460)
|
|
(26,292)
|
|
(3,721)
|
Gross
profit
|
233,000
|
|
92,521
|
|
7,732
|
|
1,095
|
|
|
|
|
|
|
|
|
Operating
expenses
|
|
|
|
|
|
|
|
Research and product development
|
(80,197)
|
|
(51,026)
|
|
(20,647)
|
|
(2,922)
|
Sales and
marketing
|
(224,582)
|
|
(124,698)
|
|
(84,255)
|
|
(11,926)
|
General and
administrative
|
(134,389)
|
|
(133,860)
|
|
(60,952)
|
|
(8,627)
|
Other operating
income
|
6,925
|
|
1,574
|
|
7,774
|
|
1,100
|
Total operating
expenses
|
(432,243)
|
|
(308,010)
|
|
(158,080)
|
|
(22,375)
|
Loss from
operations
|
(199,243)
|
|
(215,489)
|
|
(150,348)
|
|
(21,280)
|
Other
income/(expenses)
|
|
|
|
|
|
|
|
Interest and investment
income, net
|
36,645
|
|
21,852
|
|
7,061
|
|
999
|
Interest expense
|
(6,970)
|
|
(10,499)
|
|
(9,627)
|
|
(1,363)
|
Foreign exchange
gains/(losses), net
|
1,090
|
|
(877)
|
|
(4,184)
|
|
(592)
|
Other income/(loss),
net
|
586
|
|
(1,718)
|
|
1,323
|
|
187
|
Loss before income
tax expense
|
(167,892)
|
|
(206,731)
|
|
(155,775)
|
|
(22,049)
|
Income tax
benefit
|
738
|
|
817
|
|
934
|
|
132
|
Equity in income of
affiliates
|
-
|
|
744
|
|
215
|
|
30
|
Net
loss
|
(167,154)
|
|
(205,170)
|
|
(154,626)
|
|
(21,887)
|
Net loss attributable
to noncontrolling interests
|
(444)
|
|
(3,629)
|
|
(7,073)
|
|
(1,001)
|
Net income/(loss)
attributable to redeemable noncontrolling
interests
|
245
|
|
(81)
|
|
142
|
|
20
|
Net loss
attributable to Tuniu Corporation
|
(166,955)
|
|
(201,460)
|
|
(147,695)
|
|
(20,906)
|
(Accretion
on)/Reversal of redeemable noncontrolling interests
|
(1,033)
|
|
(81)
|
|
81
|
|
11
|
Net loss
attributable to ordinary shareholders
|
(167,988)
|
|
(201,541)
|
|
(147,614)
|
|
(20,895)
|
|
|
|
|
|
|
|
|
Net
loss
|
(167,154)
|
|
(205,170)
|
|
(154,626)
|
|
(21,887)
|
Other comprehensive
income/(loss):
|
|
|
|
|
|
|
|
Foreign currency translation
adjustment, net of nil tax
|
7,110
|
|
8,091
|
|
(271)
|
|
(38)
|
Comprehensive
loss
|
(160,044)
|
|
(197,079)
|
|
(154,897)
|
|
(21,925)
|
|
|
|
|
|
|
|
|
Loss per
share
|
|
|
|
|
|
|
|
Net loss per ordinary
share attributable to ordinary shareholders -
basic and diluted
|
(0.45)
|
|
(0.54)
|
|
(0.40)
|
|
(0.06)
|
Net loss per ADS -
basic and diluted*
|
(1.35)
|
|
(1.62)
|
|
(1.20)
|
|
(0.18)
|
Weighted average
number of ordinary shares used in computing
basic and diluted loss per share
|
369,343,738
|
|
370,055,731
|
|
370,145,186
|
|
370,145,186
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses included are as follows:
|
|
|
|
|
|
|
|
Cost of revenues
|
1,827
|
|
207
|
|
189
|
|
27
|
Research and product
development
|
4,112
|
|
2,136
|
|
832
|
|
118
|
Sales and
marketing
|
1,519
|
|
205
|
|
147
|
|
21
|
General and
administrative
|
8,723
|
|
2,025
|
|
1,759
|
|
249
|
Total
|
16,181
|
|
4,573
|
|
2,927
|
|
415
|
|
|
|
|
|
|
|
|
*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 June 30, 2020
|
|
GAAP
|
|
Share-based
|
|
Amortization of
acquired
|
|
Impairment of
acquired
|
|
Non-GAAP
|
|
Result
|
|
Compensation
|
|
intangible
assets
|
|
intangible
assets
|
|
Result
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
(26,292)
|
|
189
|
|
-
|
|
-
|
|
(26,103)
|
|
|
|
|
|
|
|
|
|
|
Research and product
development
|
(20,647)
|
|
832
|
|
782
|
|
|
|
(19,033)
|
Sales and
marketing
|
(84,255)
|
|
147
|
|
14,915
|
|
-
|
|
(69,193)
|
General and
administrative
|
(60,952)
|
|
1,759
|
|
709
|
|
|
|
(58,484)
|
Other operating
income
|
7,774
|
|
-
|
|
-
|
|
|
|
7,774
|
Total operating
expenses
|
(158,080)
|
|
2,738
|
|
16,406
|
|
-
|
|
(138,936)
|
|
|
|
|
|
|
|
|
|
|
Loss from
operations
|
(150,348)
|
|
2,927
|
|
16,406
|
|
-
|
|
(131,015)
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
(154,626)
|
|
2,927
|
|
16,406
|
|
-
|
|
(135,293)
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable
to ordinary
shareholders
|
(147,614)
|
|
2,927
|
|
16,406
|
|
-
|
|
(128,281)
|
|
|
|
|
|
|
|
|
|
|
Net loss per ordinary
share attributable to ordinary
shareholders - basic and diluted
|
(0.40)
|
|
|
|
|
|
|
|
(0.35)
|
Net loss per ADS -
basic and diluted
|
(1.20)
|
|
|
|
|
|
|
|
(1.05)
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ordinary shares used in
computing basic and diluted loss per share
|
370,145,186
|
|
|
|
|
|
|
|
370,145,186
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 June 30, 2019
|
|
GAAP
|
|
Share-based
|
|
Amortization of
acquired
|
|
Impairment of
acquired
|
|
Non-GAAP
|
|
Result
|
|
Compensation
|
|
intangible
assets
|
|
intangible
assets
|
|
Result
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
(287,330)
|
|
1,827
|
|
-
|
|
-
|
|
(285,503)
|
|
|
|
|
|
|
|
|
|
|
Research and product
development
|
(80,197)
|
|
4,112
|
|
513
|
|
-
|
|
(75,572)
|
Sales and
marketing
|
(224,582)
|
|
1,519
|
|
34,163
|
|
-
|
|
(188,900)
|
General and
administrative
|
(134,389)
|
|
8,723
|
|
704
|
|
-
|
|
(124,962)
|
Other operating
income
|
6,925
|
|
-
|
|
-
|
|
-
|
|
6,925
|
Total operating
expenses
|
(432,243)
|
|
14,354
|
|
35,380
|
|
-
|
|
(382,509)
|
|
|
|
|
|
|
|
|
|
|
Loss from
operations
|
(199,243)
|
|
16,181
|
|
35,380
|
|
-
|
|
(147,682)
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
(167,154)
|
|
16,181
|
|
35,380
|
|
-
|
|
(115,593)
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable
to ordinary shareholders
|
(167,988)
|
|
16,181
|
|
35,380
|
|
-
|
|
(116,427)
|
|
|
|
|
|
|
|
|
|
|
Net loss per ordinary
share attributable to ordinary
shareholders - basic and diluted
|
(0.45)
|
|
|
|
|
|
|
|
(0.32)
|
Net loss per ADS -
basic and diluted
|
(1.35)
|
|
|
|
|
|
|
|
(0.96)
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ordinary shares used in
computing basic and diluted loss per share
|
369,343,738
|
|
|
|
|
|
|
|
369,343,738
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*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-second-quarter-2020-financial-results-301120240.html
SOURCE Tuniu