Tongcheng Travel Holdings Limited (HK:0780) has released an update.
Tongcheng Travel Holdings Limited reported a robust start to 2024, with a 49.5% year-over-year revenue increase in Q1, reaching RMB3.86 billion. Despite the significant revenue growth, the company experienced a contraction in profitability margins, with adjusted EBITDA margin dropping to 21.2% and adjusted net margin falling to 14.4%. The period also saw an increase in monthly paying users and a substantial 57.4% jump in the number of travelers served over the past twelve months.
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