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Tongcheng Travel Revenue Rises to RMB17.34 Billion in 2024, Adjusted Net Profit Grows 26.7% to RMB2.79 Billion

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Rising Travel Spending Boosts Growth
AI Integration Drives Sustainable Development

HONG KONG, March 20, 2025 /PRNewswire/ — Tongcheng Travel Holdings Limited (“Tongcheng Travel” or the “Company”, together with its subsidiaries the “Group”, stock code: 0780.HK), an innovator and leader in China’s online travel industry, today announced its audited consolidated results for the year ended 31 December 2024 (the “period under review” or “2024”).

2024 Results Highlights with Year-on-year (yoy) Change

Robust Growth in Revenue and Adjusted Net Profit

Revenue increased by 45.8% yoy to RMB17,340.7 million Adjusted EBITDA increased by 29.7% yoy to RMB4,050.2 million, adjusted EBITDA margin recorded 23.4% Adjusted net profit increased by 26.7% to RMB2,785.4 million, adjusted net margin recorded 16.1% GMV increased by 5.9% to RMB255.7 billion The Board recommended a final dividend of HKD0.18 per share

Strong User Base with Paying Users Reaching Record High

Annual monthly paying users (MPUs) increased by 4.4% to 43.1 million Annual paying users (APUs) increased by 1.5% to 238.3 million, reaching record high Accumulated number of travelers served in the 12-month period increased by 9.3% to 1,928.1 million, reflecting a robust growth in user purchase frequency

Significant Growth in Core OTA Business Enhancing User Experience and Platform User Value

Revenue of core OTA business increased by 22.1% yoy to RMB14,199.4 million Revenue from transportation ticketing services increased by 19.9% yoy to RMB 7,229.0 million, with international air ticket volume recording a growth rate of over 130% yoy Revenue from accommodation reservation services increased by 19.7% yoy to RMB4,668.2 million, with international room nights sold registering a yoy increase of over 110% Revenue from other business increased by 35.5% yoy to RMB2,302.2 million

Mr. Ma Heping, Executive Director and Chief Executive Officer of Tongcheng Travel, said, “In 2024, China’s travel industry exhibited robust growth and maintained an upward trajectory, driving the Group to deliver exceptional performance during the period under review. As a technology-driven leading travel platform, Tongcheng Travel continues to anchor itself in the mass travel market, further advancing the integration of intelligent travel services and providing users with greater ease in consumption decision-making, which in return strengthens the Group’s market position. Looking ahead, the Group is committed to leveraging its core strengths to advance AI technology, enhance its applications and expand application scenarios, thereby creating long-term value for stakeholders.”

Expanding Influence in the Mass Travel Market with Accumulated Number of Travelers Served Reaching New High to 1.93 Billion
Building on its core strengths in user acquisition and operational efficiency, Tongcheng Travel continued to build its vast user base and enhance user value, expanding its influence in the mass market on the mainland. The Group’s annual MPUs increased by 4.4% yoy to 43.1 million while APUs increased by 1.5% yoy to 238.3 million, marking record highs. The Group’s twelve-month accumulated number of travelers served increased by 9.3% yoy to 1.93 billion, driven by the continuous improvement in user purchase frequency.

Tongcheng Travel continued to expand its traffic sources through both online and offline channels, with a focus on improving operational efficiency. The Weixin ecosystem was the Group’s vital traffic source. The Group has effectively established a vast user base across China by leveraging its huge and stable traffic. The Group continued to refine its operations within the Weixin ecosystem to enhance user interactions. In addition, the Group has been actively diversifying its traffic sources. During the period under review, the Group increased investments in its standalone APP and launched a variety of customized marketing campaigns to attract new users. In 2024, the Group’s registered users residing in non-first tier cities in China accounted for over 87% of the total registered users. For the three months ended December 31, 2024, around 70% of our new paying users on the Weixin platform were from non-first tier cities in China.

Core OTA Businesses Experienced Robust Growth
The International Air Ticketing Business and Accommodation Business Doubled the Growth
During the period under review, the Group’s core OTA business demonstrated remarkable growth. Driven by the increase in ticketing volume and the enhancement in value-added products and services, revenue from transportation ticketing services increased by 19.9% yoy to RMB7,229.0 million. The Group’s air ticketing business continued to gain market share throughout the year, registering solid growth in volume that surpassed the overall industry growth. The Group’s international air ticketing business continued its rapid expansion, fueled by a competitive pricing approach and aggressive marketing efforts. Consequently, the international air ticket volume for the year recorded a remarkable growth rate of over 130% yoy. In addition, the train ticketing business delivered decent revenue growth, supported by ongoing efforts to improve monetization through optimizations of the intelligent Huixing travel system. The Huixing system offers practical and accessible travel solutions, which improves user experience and enhances user value on Tongcheng’s platform.

The Group’s accommodation business experienced strong growth, as it achieved record highs in both room nights sold and revenue during the period under review. The revenue from accommodation business increased by 19.7% yoy to RMB4,668.2 million. The Group persisted its efforts to increase penetration in the mass travel market in China amid the resilient demand. Tongcheng Travel is committed to delivering the best value-for-money products and services to the users. The Group strengthened its partnership with suppliers and collaborated to offer users differentiated products and services, thereby enhancing product competitiveness.

As the nation’s travel demand shifts from ‘essential’ to ‘leisure and vacation, the Group’s other business under the core OTA business also performed steadily, with revenue increasing by 35.5% year-on-year to RMB2,302.2 million.

Leading the Transformation of AI Technology in the Travel Industry
Deepening the Travel Industry Chain and International Expansion
As a technology-driven company, Tongcheng Travel continued to increase its investment in technology research and development and actively promote the deep application of AI technology in the travel industry, bringing profound changes to the sector. The Group had self-developed Chengxin (程心), a proprietary generative AI system focusing on travel, which helps users create personalized travel itineraries and compare accommodation options based on their preferences. The Group has also developed digital assistants for several tourist destinations, providing personalized recommendations and facilitating seamless interaction with tourists. During the period under review, the Group became the world’s first online travel platform to integrate DeepSeek and it officially completed the technical integration with Chengxin system. The Group strategically incorporated emerging technologies to enhance operational efficiency and elevate user experiences. It has implemented a n AI-driven customer service system to streamline workflows and reduce workloads for the staff, to enhance their productivities at work.

Tongcheng Travel is committed to fostering high-quality development within the travel industry by empowering its industry partners and enhancing user experiences. During the period under review, the Group partnered with the Eastern Airport Group to help them implement targeted marketing strategies to attract traffic. Meanwhile, it also joined hands with a number of airports in Western China region to conduct joint marketing campaigns centered around a popular game, aiming at promoting the travel routes featured within the game and boosting local travel development.

As one of the Group’s key industry chain initiatives, the hotel management business has continued its growth momentum across China. As at the end of December 2024, the number of hotels in operation under Elong Hotel Technology rose to nearly 2,300, with approximately 1,400 more hotels in the pipeline.

Furthermore, HOPEGOO, the new international online travel booking platform under Tongcheng Travel, has been in full operation, providing reservation services in six key areas including flights, hotels, train tickets, tickets, ferry tickets, and local activities, and supporting payments in 16 currencies and multiple operating languages. Meanwhile, eLong Hotel Technology, the hotel technology platform of Tongcheng Travel, has boarded brands covering countries such as Japan, Malaysia and Indonesia. These brands will provide diverse and high-quality accommodation experiences for global consumers.

Going forward, the Group will leverage its core strengths to foster enduring expansion. The Group is committed to strengthening its core OTA business by enriching the product and service offerings and delivering greater value to its users. At the same time, the Group will prioritize the expansion of the outbound business to seize emerging market opportunities and bolster its global footprint. Besides, the Group will continue to advance its hotel management and package tour businesses to strengthen its influence and competitive edge within the industry. Tongcheng Travel will emphasize corporate governance, environmental protection, and social responsibility in our operations to generate long-term value for its stakeholders.

About Tongcheng Travel Holdings Limited (HKSE Stock Code: 0780.HK)
Tongcheng Travel is a one-stop shop for users’ travel needs. With the mission “make travel easier and more joyful”, Tongcheng Travel offers a comprehensive and innovative selection of products and services covering nearly all aspects of travel, including transportation ticketing, accommodation reservation, tourist attraction ticketing, and products including package tour, self-guided tour and cruise, including a wide array of transportation and leisure travel scenarios primarily through its online platforms, which comprise its Tencent-based platforms, its proprietary mobile apps, quick apps and other channels.

As a technology-driven company, Tongcheng Travel leverages big data and AI capabilities to better understand the preferences and behaviors of users, thereby offering users customized products and services. Tongcheng Travel has a strategic focus on lower-tier cities in China and seized opportunities there supported by its diversified traffic sources, product innovation capability and flexible operation strategies. Through the in-depth understanding of user experience and advanced technological capabilities, Tongcheng Travel has been revolutionizing what consumers expect from the online travel industry, making the entire travel process more convenient, personalized and enjoyable than ever. Tongcheng Travel aims to develop and apply its advanced technology to transform from an online travel agency to an intelligent travel assistant.

For more information, please visit the Group’s website at https://www.tongchengir.com

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SOURCE Tongcheng Travel Holdings Limited

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BOE continues to launch new products and solutions in the field of high-end displays

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LOS ANGELES, May 9, 2026 /PRNewswire/ — 

1、Redefine Visual Experience with Scientific Standards! BOE Releases Core Research Findings on OLED Display Clarity-Legibility Index, Paving the Way for the Industry’s First Transparent Pro Standard to Deliver Supreme Visual Experience

With the rapid popularization of OLED display technology, basic screen indicators including resolution, color gamut and brightness keep improving. Meanwhile, display transparency — a core experience metric that determines visual comfort , image authenticity and premium visual quality — has drawn growing attention across the industry.

Recently, BOE has empowered the launch of the industry’s first flagship high-transparency OLED display panel, setting an industry-leading benchmark in four key dimensions: color, depth , clarity and dynamic range. It ushers high-end display into a new era, shifting from purely numerical technical specifications to ultimate user-centric visual experience.

In addition, BOE officially unveiled its in-depth research achievements on OLED display transparency. It has identified the core underlying factors affecting visual transparency through scientific research, pioneered the industry’s first display transparency index formula, and facilitated the release of the first authoritative evaluation standard for OLED display transparency. This marks an industry’s transformation from specs-oriented to experience-driven development. This marks a full-process breakthrough covering underlying technical analysis, scientifically guided image quality development and mass production application.

At present, the group standard 《Standard of Associations Organic light emitting diode display —Evaluation method for display clarity》, led and formulated by BOE based on relevant research outcomes, has been officially issued. As the world’s first dedicated evaluation standard focusing on OLED display transparency, it fills the long-standing industry gap in correlating subjective visual perception with objective image quality parameters.

Leveraging this standard and transparency research results, BOE has assisted partners in developing the industry’s first flagship high-transparency OLED screen. The company has built a comprehensive technical system for OLED visual transparency. Supported by cutting-edge technologies such as tandem, LTPO and high-precision Demura crosstalk optimization algorithms, BOE and its partners have carried out full-link optimization from display panels to end devices.

Going forward, BOE will continue to deepen research on display human factors engineering and visual experience. Through technological innovation and standard leadership, it will bring more ultimate, high-transparency premium display experiences to users worldwide.

2、BOE Beneficial “Natural” Light Technology (BNL): Solving Visual Health Pain Points and Leading the Display Industry Trend

In an era of ubiquitous displays, users are spending increasingly longer hours on screens. Nevertheless, the luminous properties of conventional displays poorly align with the human visual system, sparking widespread consumer concerns over visual health. To address such challenges, BOE draws inspiration from natural light. By deeply analyzing natural light and extracting beneficial features highly consistent with health and comfort, BOE established the Beneficial “Natural” Light Technology (BNL) architecture. Evolving from single technical upgrades to a systematic solution, BNL replicates the merits of natural light across four core dimensions: Depolarization Adjustment, Spectrum Optimization, Light Profile Optimization and Time-varying Adaptation, advancing display technology toward healthy viewing.

BNL & Visual Health

Depolarization Adjustment: The linearly polarized light of traditional displays causes targeted stimulation to retinal lutein, resulting in dry eyes, eyelid redness and other discomforts. Based on the mainstream Circular Polarization (QWP) solution, BOE BNL has developed a series of technologies like BSF/RDF Random Depolarization technology and un-Polarization,which convert linearly polarized light into randomly polarized light, enabling balanced lutein utilization across the entire visual field, and deliver natural-light-level eye protection.

Spectrum Optimization: Conventional narrow-band RGB spectra feature poor continuity and imbalanced energy distribution, with excessive high-energy blue light that induces eye strain and increases risks of macular damage. Beyond Low Blue Light solutions, BOE BNL has developed Natural-like Spectrum, Beneficial Red Light, Infrared Light and Circadian Rhythm technologies. Multiple clinical studies have verified that Beneficial Red Light and Infrared Light can effectively inhibit axial elongation and accelerate eye microcirculation.  BOE takes the lead in integrating such optics into displays,achieving a spectral distribution matching degree of over 60%, an energy ratio of Beneficial Red Light (650–670 nm) exceeding 50%, and independent on/off switching and energy adjustment of Infrared Light. Meanwhile, Circadian Rhythm technology regulates melatonin secretion to safeguard sleep quality. Shifting from passive harm reduction to active eye benefits, BOE BNL delivers all-round visual health protection.

Light Profile Optimization: Conventional screens are prone to surface reflection and glare, which interfere with visual recognition and cause cumulative eye fatigue. Powered by industry-leading Anti-Glare, Low Reflection and Wide Viewing Angle technologies, BOE BNL accurately simulates the diffuse reflection of natural light to deliver consistent visual comfort across diverse viewing angles. For instance, BOE UB Cell technology achieves a DGR value below 5 with negligible glare and reflection, ensuring sustained visual comfort.

Time-varying Adaptation: Conventional displays tend to produce low-frequency flicker and fixed brightness and color temperature that fail to adapt to ambient changes, forcing frequent eye muscle adjustments and leading to discomfort. By adopting Flicker Free and Light Self-adaptive technologies, BOE BNL delivers stable, ultra-smooth visuals that replicate the comfort of natural light.

SID 2026: BOE Launches New BNL Display Products

At SID Display Week 2026, BOE launched new BNL health display products. The highlight product is the industry’s first 13.8-inch BNL health display tablet. It integrates all four core dimensions,supported by 7 core BNL technologies, to deliver a healthy and comfortable visual experience.

As a global leader in the display industry, BOE has led the development and officially issued the world’s first “Natural Light” display standard via the Zhongguancun Standardization Association,and has jointly issued the White Paper on Natural Light Display Technologies (Engineering Considerations, Application Value and Challenges) with TÜV Rheinland to drive standardized and high-quality industrial development. In the future, BOE will continue to iterate on technologies, diversify product forms and application scenarios, advance the grading standards for Beneficial “Natural” Light displays, and protect users’ visual health.

View original content to download multimedia:https://www.prnewswire.com/news-releases/boe-continues-to-launch-new-products-and-solutions-in-the-field-of-high-end-displays-302767491.html

SOURCE BOE Technology Group Co., Ltd.

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BitradeX BXC First Two Subscription Rounds Sell Out, Total Subscriptions Exceed 14M USDT

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LONDON, May 9, 2026 /PRNewswire/ — BitradeX Capital’s ecosystem equity token, BXC, has completed its first and second subscription rounds, selling a total of 50 million BXC with subscriptions exceeding 14 million USDT. The first round sold out in 90 seconds, while the second closed within 48 hours.

While the fundraising size is not unusually large by crypto standards, the structure of the sale has attracted market attention. The first two rounds were not open to the public, but limited to high-tier BitradeX users. The first round was available only to V5 users and above, while the second round expanded access to V3 users and above.

According to BitradeX’s tier system, V3+ users typically have higher recurring investment activity through AiBot, longer platform usage history, and stronger ecosystem participation. This means the early BXC allocation was absorbed mainly by the platform’s internal high-value user base, rather than short-term speculative participants.

This approach differs from many token fundraising campaigns that prioritize broad public participation and market hype. BitradeX instead adopted a more selective, staged model, gradually lowering the participation threshold while keeping the sale within its active ecosystem community.

BXC is positioned as more than a standard platform token. Its value framework is linked to BitradeX Capital’s broader ecosystem, including its exchange business, AiBot quantitative strategies, BTX Card payments, and Labs incubation platform. Public information indicates that BXC holders may receive staking rewards, benefit from ecosystem buybacks and burns, and gain priority access to Launchpad projects and governance participation.

The third subscription round is launched on April 30 at $0.35 USDT per BXC, with a total supply of 100 million BXC. It is now open to users participating in AiBot recurring investment. The fourth round price is expected to rise to $0.45 USDT.

The long-term value of BXC will ultimately depend on the growth of BitradeX’s underlying businesses, including exchange profitability, AiBot user expansion, and BTX Card adoption. However, the rapid sellout of the first two rounds suggests that BitradeX’s core user base has already shown strong confidence in the ecosystem’s future.

View original content:https://www.prnewswire.com/news-releases/bitradex-bxc-first-two-subscription-rounds-sell-out-total-subscriptions-exceed-14m-usdt-302767467.html

SOURCE BitradeX Capital

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South and East Asia identified as hotspots of global warming related impacts on male fertility

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BEIJING, May 9, 2026 /PRNewswire/ — A major new study has shown that South and East Asia dominate patterns of global warming related decline in male fertility with the strongest and most consistent evidence coming from India, Pakistan and the southern parts of China.

The effects of increased environmental temperatures on male reproductive health include declining sperm concentration and motility and increased sperm DNA fragmentation, or genetic damage that can hinder fertilisation and embryo development.

Male related factors account for around 50 per cent of infertility cases around the world and the impact of rising ambient heat on semen parameters raises serious implications across wide areas of Asia where total fertility rates are in serious decline.

Outcomes of the study undertaken by the Taiwan IVF Group and Ton Yen General Hospital, Taiwan (China) in collaboration with Stanford University (USA) are being presented at the 2026 Congress of the Asia Pacific Initiative on Reproduction (ASPIRE) in Beijing.

Research principal and Adjunct Clinical Assistant Professor at Stanford University, Dr Jack Yu Jen Huang, MD, PhD, FACOG said: “Given the temperature sensitivity of spermatogenesis, even modest increases in ambient temperature could have cumulative, population-level effects over time.

“As global warming accelerates, male reproductive health may represent an emerging climate sensitive public health concern.”

The testes function optimally at temperatures lower than the internal body heat level, and previous studies have shown elevated scrotal or ambient temperatures can impair sperm production.

The latest research explored global patterns to reveal comparative data across regions. It is based on a systematic review of international studies on temperature exposure and semen parameter trends between 2000 and 2024. Artificial intelligence algorithms and machine learning tools were applied to extract key variables including geographic regions and semen outcomes.

Dr Huang said studies examining occupational heat exposure alone were excluded from the analysis as they reflected localised, job-specific conditions rather than broader climatic trends.

“Our findings therefore represent population level climate associated temperature effects including consistent seasonal variations showing poor semen quality parameters in warmer periods.”

The global patterns on temperature associated lower sperm concentration and motility show South and East Asia as major hot spots of concern followed by the Middle East, Europe and North America.

“South and East Asia are likely more affected due to a combination of factors including higher baseline ambient temperatures and rapid urbanisation that contribute to greater cumulative heat stress on spermatogenesis,” Dr Huang explained.

“With ongoing global warming, chronic heat exposure may increasingly impact male reproductive health.”

Dr Huang said potential approaches to address the issue include:

increasing public awareness of heat exposure and reproductive health;encouraging protective behaviours;expanding research integrating climate and reproductive health data; andexploring clinical and lifestyle interventions to mitigate heat-related effects.

The research team was assisted by research intern Jeffrey Zi Kang Huang from Taipei American School, particularly in the application of artificial intelligence in biomedical research including AI-assisted data analysis and pattern recognition across global datasets.

“Further longitudinal and mechanistic studies will be important to better define causality and guide interventions,” he added.

The ASPIRE Congress is being held at the China National Convention Centre in Beijing. More than 3,000 scientists, clinicians, nurses and counsellors in assisted reproduction from around the world are attending the Congress.

For further information, go to https://www.aspire2026.com

 

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/south-and-east-asia-identified-as-hotspots-of-global-warming-related-impacts-on-male-fertility-302767469.html

SOURCE ASPIRE

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