Tongcheng Travel Holdings Limited · HKEX:780
Tongcheng Travel — 2Q2026 Earnings Presentation
28 slides from Tongcheng Travel's earnings presentation, August 2026
Slide 1: Investor Presentation
Tongcheng Travel Holdings Limited Stock Code: 0780 Investor Presentation August 2026
Slide 2: Disclaimer
Disclaimer The materials used in this investors presentation are being furnished to you for your information only, which shall be kept in strict confidence. No representation or warranty, express or implied, is made by Tongcheng Travel Holdings Limited (the “Company”) or its connected person, or any
Slide 3: Agenda
Agenda 1 2Q2026 and 1H2026 Review 2 Business Highlights and Updates 3 Financial Highlights 3
Slide 4: 2Q2026 and 1H2026 Review
Section 1 2Q2026 and 1H2026 Review
Slide 5: 2Q2026 Review – Operating Metrics
2Q2026 Review – Operating Metrics Accumulated Number of Travelers Served(1) 2.7% 2,044.3MM YoY Growth 5 APU(2) 0.9% 253.9MM YoY Growth 2Q2026 MPUs (5.8)% 1H2026 MPUs (3.0)% 43.7MM YoY Growth 45.1MM YoY Growth Notes 1. Cumulative number of passengers served on our platform in the twelve-month period
Slide 6: 2Q2026 Review – Financial Metrics
2Q2026 Review – Financial Metrics Total Revenue 6.8% RMB 5.0Bn YoY Growth Core OTA Revenue Tourism Revenue 8.4% RMB 4.3Bn YoY Growth RMB 642.8MM Core OTA Operating Profit 7.1% Tourism Operating Loss RMB 1.1Bn YoY Growth RMB (6.2)MM Adjusted EBITDA(1) 7.3% Adjusted Net Profit(2) 9.8% RMB 1.3Bn YoY Gr
Slide 7: 1H2026 Review – Financial Metrics
1H2026 Review – Financial Metrics Total Revenue 10.5% RMB 10.0Bn YoY Growth Core OTA Revenue Tourism Revenue 12.7% RMB 8.8Bn YoY Growth RMB 1.2Bn Core OTA Operating Profit 12.6% Tourism Operating Profit RMB 2.5Bn YoY Growth RMB 12.8MM Adjusted EBITDA(1) 13.5% Adjusted Net Profit(2) 14.6% RMB 2.7Bn Y
Slide 8: Business Highlights and Updates
Section 2 Business Highlights and Updates
Slide 9: Business Highlights and Growth Strategy
Business Highlights and Growth Strategy Mass Market Solidified position in China’s mass market User Base Substantial user base with diversified traffic sources User Engagement Improved user value through effective user engagement initiatives Data & Technology Deepened AI integration across business
Slide 10: Solidified Position in China’s Mass Market
1 Solidified Position in China’s Mass Market Promising Demographic Feature The great migration to internet has accelerated online penetration, creating opportunities for OTA like us 87%+ of registered users The resilience and vitality of mass market in China provide from non-first-tier us great pote
Slide 11: Substantial User Base with Diversified Traffic Sources
2 Substantial User Base with Diversified Traffic Sources Average MPUs MM 70 20.0% 9.3% 9.2% 9.2% 2.9% 5.0% 2.8% 1.0% 0.7% 0% 60 (5.8)% 0.0% 50 46.5 47.7 46.4 46.4 46.4 43.7 -20.0% 42.6 42.5 41.4 41.0 40 -40.0% 30 -60.0% 20 -80.0% 10 0 -100.0% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2024 2024 2024 2024 2025 20
Slide 12: Extensive User Base with Multiple Channels
2 Extensive User Base with Multiple Channels Standalone Apps Cooperation with Handset Vendors Creative Content on Social Media Platforms Cultivate high-value users Embed services within Boost user engagement and stickiness Third-party AI ecosystem 12
Slide 13: Stable Cooperation with Weixin
2 Stable Cooperation with Weixin We Direct Users to Our Mini Program Based Platform from Various Channels on Weixin Mini Program 4 Drop-down Bar 3 Search Portals 5 Weixin Official Account Weixin Video 2 Advertisement 6 Account Weixin AI Weixin Pay 7 Assistant 1 Interface (In testing) 13
Slide 14: Improved User Value through Effective User Engagement Initiatives
3 Improved User Value through Effective User Engagement Initiatives Marketing Campaigns Branding Campaigns Promotional events for Rolled out “Weekend Launched “Regret-Free summer travel Getaway” activities to Card” for first-time Sponsorships on Tencent Video interact with younger outbound travelers
Slide 15: Deepened AI Integration across Business Operations
4 Deepened AI Integration across Business Operations • Maintain strong conviction in the long-term potential of AI technology • Integrate AI across the travel service value chain to elevate user experience and drive operational excellence AI agent DeepTrip Combine DeepSeek's reasoning capabilities w
Slide 16: Pursuing Long-term Growth as a Comprehensive Travel Platform
5 Pursuing Long-term Growth as a Comprehensive Travel Platform • Continue to grow core OTA business as the pillar of the company • Tap into the global market and hotel management segment to forge the second growth curve Transportation Ticketing and Accommodation Reservation Domestic • Amplify market
Slide 17: Enhanced Quality Growth of Elong Hotel Technology Platform
5 Enhanced Quality Growth of Elong Hotel Technology Platform • Ranked 7th among hotel groups in China in terms of room count (1) • Formed a comprehensive hotel brand portfolio spanning from economy to upper-scale segments through internal incubation and strategic investment • Expanded hotel network
Slide 18: Accelerated Network Expansion of Wanda Hotels and Resorts
5 Accelerated Network Expansion of Wanda Hotels and Resorts • Ranked 22th among hotel groups in China in terms of room count (1) • Possess a renowned portfolio of upper-upscale and luxury brands with strong market presence in China and quicken its pace of global expansion • China's leading full-serv
Slide 19: Practice Sustainability Philosophy
5 Practice Sustainability Philosophy ESG Laurels • MSCI ESG Rating: Achieved the highest AAA rating, placing us among the top 5% of companies globally in our industry • CSA Score: Consistent improvement in CSA scores for three consecutive years, surpassing 89% of industry peers • Sustainability Year
Slide 20: Financial Highlights
Section 3 Financial Highlights
Slide 21: Our Financial Highlights
Our Financial Highlights Solid Performance with Steady Growth 1 Diversified Revenue Streams with Balanced Composition 2 Efficient Operations Driven by Enhanced Organizational Capabilities 3 Decent Profit with Healthy Financial Position 4 21
Slide 22: 2Q2026 and 1H2026 Review – Financial Highlights
2Q2026 and 1H2026 Review – Financial Highlights In million RMB 2Q26 2Q25 YoY 1H26 1H25 YoY Total Revenue 4,987.0 4,669.4 6.8% 9,992.8 9,046.9 10.5% Core OTA 4,344.2 4,007.8 8.4% 8,794.1 7,800.2 12.7% Accommodation 1,480.7 1,371.4 8.0% 2,845.1 2,561.0 11.1% Transportation 1,838.2 1,881.0 (2.3)% 3,962
Slide 23: Diversified Revenue Streams with Balanced Composition
Diversified Revenue Streams with Balanced Composition Revenue RMB MM 49.5% 48.1% 51.3% 34.8% 7,000 13.2% 10.0% 10.4% 14.2% 14.4% 6.8% 50.0% 25.0% 0.0% -25.0% -50.0% 6,000 -75.0% 5,509 -100.0% -125.0% -150.0% 4,991 5,006 4,987 -175.0% 16.3% 4,840 -200.0% 5,000 4,669 -225.0% 4,377 11.1% 12.9% -250.0%
Slide 24: Decent Profit Growth with Healthy Financial Position
Decent Profit Growth with Healthy Financial Position Adjusted EBITDA(1) RMB MM 21.2% 21.5% 26.4% 23.5% 26.5% 25.4% 27.4% 26.5% 27.7% 25.5% 2,300.0 51.6% 39.4% 41.3% 29.7% 28.6% 19.8% 12.0% 13.4% 14.5% 7.3% 0.0% 1,800.0 -100.0% 1,510.3 1,389.0 1,318.8 1,282.9 1,271.6 1,300.0 1,159.4 1,185.2 -200.0% 9
Slide 25: Decent Profit Growth with Healthy Financial Position
Decent Profit Growth with Healthy Financial Position Adjusted Net Profit(1) RMB MM 14.4% 15.5% 18.2% 15.6% 18.0% 16.6% 19.2% 16.1% 18.8% 17.1% 1600.0 46.6% 36.8% 41.1% 50.0% 18.0% 16.5% 18.1% 19.4% 10.9% 10.9% 9.8% 1400.0 0.0% 1200.0 1,060.2 -50.0% 1000.0 910.0 941.1 850.9 -100.0% 788.2 775.1 779.8
Slide 26: Our Mission is to Make Travel Easier and More Joyful
Our Mission is to Make Travel Easier and More Joyful
Slide 27: Appendix
Appendix
Slide 28: Corporate Milestones
Corporate Milestones Included in Hang Seng Composite LargeCap & MidCap Index, Hang Seng Stock Connect Hong Kong Index, and Completed the Hang Seng SCHK New Economy Index merger effective March 11, 2020 Weixin Wallet Became the sole operator Founding of of “Rail & Flight” portals on Tongcheng Listed
Tongcheng Travel Holdings — 2Q2026 Earnings Presentation on 6ix