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Tongcheng Travel reports 48.1% revenue growth in Q2

Tongcheng Travel, backed by Tencent and Trip.com Group, reported a 4.4% YoY increase in Q2 GMV and 48.1% revenue growth to 4.25 billion RMB ($582.4 million), with adjusted net profits reaching 656.7 million RMB ($90.1 million) for the quarter. Active paying users grew by 4.8% to 228.3 million over the 12 months ending June 30. CEO Ma Heping noted that amid strong domestic and international tourism demand, the company is strengthening its domestic market position and expanding overseas to capture recovering outbound travel opportunities.

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