Tuniu Corp rises on smaller net loss, upbeat forecast
17/03/2023 12:21
** Shares of China-based online travel company Tuniu Corp
TOUR.O rise 3.4% to $2.12 premarket
** Posts smaller Q4 net loss of 9.3 mln Chinese yuan ($1.3
million) vs net loss of 36.2 mln Chinese yuan last year
** Says it saw beginning of recovery in travel industry
since pandemic outbreak in Q4
** Earlier this week, China said it is set to reopen its
borders to foreign tourists for first time in three years since
COVID-19 pandemic erupted
** "In the new year, as domestic and outbound travel markets
gradually reopen, the release of pent-up travel demand is
further supporting the travel industry's rebound" - CEO Donald
Dunde Yu
** Company sees Q1 2023 net revenue in range of 60.1 mln
Chinese yuan to 64.3 mln Chinese yuan, representing 45% to 55%
increase y-o-y
** TOUR was up 55.7% in 2022
($1 = 6.8866 Chinese yuan renminbi)
(Reporting by Ashwini Raj in Bengaluru)
((Ashwini.Raj@thomsonreuters.com))