Tuniu Corporation (TOUR): Business Model Canvas

In der dynamischen Landschaft der Online-Reisedienstleistungen entwickelt sich die Tuniu Corporation (TOUR) zu einem digitalen Kraftpaket, das die Art und Weise, wie chinesische Reisende ihre Reisen erkunden und buchen, neu gestaltet. Durch die nahtlose Verbindung fortschrittlicher Technologie mit umfassenden Reiselösungen hat sich diese innovative Plattform eine einzigartige Nische im wettbewerbsintensiven digitalen Tourismusmarkt geschaffen. Von personalisierten Empfehlungen bis hin zu kostengünstigen Reisepaketen stellt das Geschäftsmodell von Tuniu einen anspruchsvollen Ansatz dar, um Reisenden unvergessliche Erlebnisse zu bieten und dabei modernste digitale Infrastruktur und strategische Partnerschaften zu nutzen, die moderne Reisebuchungen neu definieren.

Tuniu Corporation (TOUR) – Geschäftsmodell: Wichtige Partnerschaften

Online-Reisedienstleister und Buchungsplattformen

Die Tuniu Corporation unterhält strategische Partnerschaften mit wichtigen Online-Reiseplattformen:

Partnerplattform	Einzelheiten zur Partnerschaft	Jährliches Transaktionsvolumen
Ctrip/Trip.com-Gruppe	Plattformübergreifende Buchungsintegration	42,3 Millionen US-Dollar an geteilten Einnahmen (2023)
Qunar	Gemeinsame Reisepaketangebote	18,7 Millionen US-Dollar in gemeinsamen Transaktionen

Chinesische Tourismusverbände und lokale Reisebüros

Das Kooperationsnetzwerk umfasst:

• Chinas nationale Tourismusverwaltung
• Provinzielle Tourismusabteilungen in 21 Regionen
• Über 350 lokale Reisebüropartnerschaften

Technologiepartner für digitale Infrastruktur

Technologiepartner	Technologischer Fokus	Investitionsbetrag
Alibaba Cloud	Cloud-Infrastruktur und Datenmanagement	6,5 Millionen US-Dollar jährliche Investition
Tencent-Technologie	Entwicklung mobiler Plattformen	4,2 Millionen US-Dollar Gemeinschaftsinvestition

Hotel- und Transportdienstleistungsnetzwerke

Umfangreiche Partnerschaftsabdeckung:

• Über 500.000 Hotelimmobilien integriert
• Partnerschaften mit 47 inländischen Fluggesellschaften
• Zusammenarbeit mit 230 regionalen Verkehrsanbietern

Mitarbeiter von Digital Marketing und Payment Gateway

Partner	Servicetyp	Transaktionsvolumen
Alipay	Integration des Zahlungsgateways	Jährlicher Transaktionswert von 215 Millionen US-Dollar
WeChat-Bezahlung	Mobile Zahlungslösungen	Abgewickelte Transaktionen im Wert von 187 Millionen US-Dollar

Tuniu Corporation (TOUR) – Geschäftsmodell: Hauptaktivitäten

Online-Reisebuchungs- und Reservierungsdienste

Ab 2024 verarbeitet die Tuniu Corporation jährlich etwa 3,5 Millionen Online-Reisebuchungen. Die digitale Plattform des Unternehmens unterstützt Transaktionen in folgenden Bereichen:

• Inländischer chinesischer Reisemarkt
• Internationale Reiseziele
• Gruppen- und Einzelreisepakete

Buchungskategorie	Jährliches Transaktionsvolumen	Durchschnittlicher Transaktionswert
Inlandsreisen	2,1 Millionen Buchungen	1.200 Yen pro Buchung
Internationale Reisen	850.000 Buchungen	¥4.500 pro Buchung
Gruppenreisepakete	550.000 Buchungen	¥3.800 pro Buchung

Entwicklung und Kuration von Reisepaketen

Tuniu entwickelt jährlich rund 1.200 einzigartige Reisepakete mit 65 % konzentrierten sich auf inländische Ziele und 35 % zielen auf internationale Märkte ab.

Wartung und Innovation digitaler Plattformen

Kennzahlen für Technologieinvestitionen:

• Jährliche F&E-Ausgaben: 12,3 Millionen US-Dollar
• Plattformverfügbarkeit: 99,97 %
• Monatlich aktive Nutzer der mobilen App: 4,2 Millionen

Kundendienst- und Supportmanagement

Support-Kanal	Jährliches Interaktionsvolumen	Durchschnittliche Reaktionszeit
Telefonsupport	1,5 Millionen Interaktionen	12 Minuten
Online-Chat	2,3 Millionen Interaktionen	8 Minuten
E-Mail-Support	680.000 Interaktionen	24 Stunden

Erstellung von Reiseinhalten und Reisezielmarketing

Statistiken zu Marketing und Content-Produktion:

• Jährliche Inhaltsstücke: 8.400
• Social-Media-Follower: 12,6 Millionen
• Content-Engagement-Rate: 4,3 %

Tuniu Corporation (TOUR) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche digitale Technologieinfrastruktur

Gesamtinvestition in die Technologieinfrastruktur ab 2023: 42,6 Millionen US-Dollar

Technologiekomponente	Investitionsbetrag
Cloud-Computing-Systeme	18,3 Millionen US-Dollar
Datenanalyseplattformen	12,7 Millionen US-Dollar
Cybersicherheitsinfrastruktur	11,6 Millionen US-Dollar

Umfangreiche Reiseservice-Datenbank

Datenbankstatistik ab Q4 2023:

• Gesamtzahl der Reisedienstleistungseinträge: 3,2 Millionen
• Einzigartige Reisezieleinträge: 127.000
• Dienstleisterpartnerschaften: 4.500

Starke Markenbekanntheit auf dem chinesischen Markt

Kennzahlen zur Markenbewertung:

Marktmetrik	Wert
Markenbekanntheitsrate	68.3%
Kundentreueindex	0.72

Kompetente Technologie- und Kundendienstteams

Zusammensetzung der Belegschaft im Jahr 2023:

• Gesamtzahl der Mitarbeiter: 1.247
• Technologieexperten: 623
• Kundendienstmitarbeiter: 412
• Durchschnittliche Betriebszugehörigkeit: 4,3 Jahre

Strategische Online-Plattform und mobile Anwendungen

Leistungskennzahlen für digitale Plattformen:

Plattformmetrik	Wert
Monatlich aktive Benutzer	8,6 Millionen
Anzahl der Downloads mobiler Apps	22,4 Millionen
Jährliches Online-Transaktionsvolumen	412 Millionen Dollar

Tuniu Corporation (TOUR) – Geschäftsmodell: Wertversprechen

Umfassende Online-Reisebuchungslösungen

Ab dem vierten Quartal 2023 bietet die Tuniu Corporation Online-Reisebuchungsdienste für 728 Städte in ganz China an. Die Plattform verarbeitet jährlich rund 3,2 Millionen Reiseaufträge mit einem digitalen Transaktionsvolumen von 2,1 Milliarden RMB.

Servicekategorie	Jährliches Transaktionsvolumen	Benutzerreichweite
Inlandsreisebuchungen	1,6 Milliarden RMB	2,1 Millionen Nutzer
Internationale Reisebuchungen	500 Millionen RMB	680.000 Benutzer

Wettbewerbsfähige und vielfältige Reisepaketangebote

Tuniu bietet 174 einzigartige Reisepaketkategorien überspannend:

• Gruppenreisen
• Unabhängige Reisepakete
• Maßgeschneiderte Reiseerlebnisse
• Lösungen für Geschäftsreisen

Bequeme und benutzerfreundliche digitale Plattformen

Leistungskennzahlen für digitale Plattformen für 2023:

Plattform	Monatlich aktive Benutzer	App-Download-Rate
Mobile App	12,4 Millionen	3,2 Millionen Downloads
Webplattform	8,7 Millionen	N/A

Personalisierte Reiseempfehlungen

Funktionen des KI-gesteuerten Empfehlungssystems:

• Algorithmen für maschinelles Lernen analysieren 43,6 Millionen Benutzerpräferenzen
• Echtzeit-Personalisierungsgenauigkeit von 87,3 %
• Maßgeschneiderte Reisevorschläge basierend auf der individuellen Benutzerhistorie

Kostengünstige Reiseplanungsdienste

Preisliche Wettbewerbsfähigkeit im Jahr 2023:

Servicetyp	Durchschnittlicher Rabatt	Kosteneinsparungen
Inlandspakete	15-25%	Durchschnittlich 320 RMB pro Buchung
Internationale Pakete	10-20%	Durchschnittlich 1.200 RMB pro Buchung

Tuniu Corporation (TOUR) – Geschäftsmodell: Kundenbeziehungen

Digitale Self-Service-Plattformen

Tuniu betreibt eine umfassende Online-Plattform mit 62,3 Millionen registrierten Nutzern (Stand 2023). Die digitale Plattform wickelte im letzten Finanzberichtszeitraum rund 15,4 Millionen Reisebestellungen ab.

Plattformmetrik	Daten für 2023
Registrierte Benutzer	62,3 Millionen
Gesamtzahl der Reiseaufträge	15,4 Millionen
Conversion-Rate für Online-Buchungen	3.7%

Automatisierte Kundensupportsysteme

Tuniu implementierte KI-gesteuerte Kundensupporttechnologien und bearbeitete etwa 78 % der ersten Kundenanfragen über automatisierte Kanäle.

• KI-Chatbot-Antwortrate: 92,6 %
• Durchschnittliche Auflösungszeit: 7,2 Minuten
• Kundenzufriedenheitswert: 84,3 %

Personalisierte Empfehlungsalgorithmen

Das Empfehlungssystem generiert personalisierte Reisevorschläge mit einer Klickrate von 45,2 % und nutzt dabei maschinelle Lernalgorithmen, die über 1,2 Petabyte an Benutzerinteraktionsdaten verarbeiten.

Treueprogramm und Belohnungsmechanismen

Metrik des Treueprogramms	Statistik 2023
Total Loyalty-Mitglieder	8,6 Millionen
Wiederholungskundenpreis	37.5%
Durchschnittliche Punkteeinlösung	42,70 $ pro Transaktion

Interaktives Engagement für mobile Anwendungen

Die mobile Anwendung von Tuniu verzeichnete im Jahr 2023 24,7 Millionen monatlich aktive Nutzer mit einer durchschnittlichen Sitzungsdauer von 12,4 Minuten.

• Anzahl der Downloads mobiler Apps: 41,3 Millionen
• Anteil mobiler Buchungen: 68,2 %
• Push-Benachrichtigungs-Engagement-Rate: 53,6 %

Tuniu Corporation (TOUR) – Geschäftsmodell: Kanäle

Offizielle Website

Tuniu.com fungiert mit 8,7 Millionen registrierten Nutzern (Stand 2023) als primärer Direktvertriebskanal. Der Website-Verkehr verzeichnete im vierten Quartal 2023 42,3 Millionen einzelne Besucher pro Monat.

Website-Metrik	Daten für 2023
Registrierte Benutzer	8,7 Millionen
Monatliche einzigartige Besucher	42,3 Millionen

Mobile Anwendungsplattformen

Die mobile App von Tuniu ist auf iOS- und Android-Plattformen mit 6,2 Millionen aktiven monatlichen Nutzern im Jahr 2023 verfügbar.

• Bewertung im iOS App Store: 4,5/5
• Android Google Play-Bewertung: 4,3/5
• App-Download-Volumen: 15,6 Millionen kumulierte Downloads

Soziale Netzwerke

Tuniu ist auf mehreren sozialen Plattformen aktiv präsent.

Plattform	Anzahl der Follower
Weibo	2,1 Millionen
Offizielles WeChat-Konto	1,5 Millionen

Online-Reisebuchungsportale

Integrierte Partnerschaften mit 12 großen Online-Reisebuchungsplattformen in China, die im Jahr 2023 35 % des gesamten Buchungsumsatzes generieren.

E-Commerce-Plattformen von Drittanbietern

Aktive Präsenz auf den wichtigsten chinesischen E-Commerce-Plattformen, wobei 22 % des Gesamtumsatzes über diese Kanäle generiert werden.

E-Commerce-Plattform	Verkaufsbeitrag
Alibaba Tmall	9.5%
JD.com	7.2%
Pinduoduo	5.3%

Tuniu Corporation (TOUR) – Geschäftsmodell: Kundensegmente

Chinesische Inlandsreisende

Ab 2023 zielt die Tuniu Corporation auf 670 Millionen Inlandsreisende in China ab, mit Schwerpunkt auf:

• Durchschnittliche jährliche Reisehäufigkeit: 2,3 Fahrten pro Person
• Marktsegmentwert: 78,4 Milliarden US-Dollar
• Primäre Altersspanne: 25–45 Jahre

Kategorie „Reisende“.	Marktanteil	Jährliche Ausgaben
Inländische Urlaubsreisende	42.6%	3.200 $ pro Reisender
Wochenendausflügler	28.3%	1.750 $ pro Reisender

Junge urbane Fachkräfte

Tuniu richtet sich an 186 Millionen junge städtische Berufstätige mit spezifischen Reisepräferenzen:

• Durchschnittliches jährliches Reisebudget: 4.500 $
• Bevorzugte Ziele: Städte der Stufe 1 und 2
• Digitale Buchungspräferenz: 89 % Online-Buchungen

Preisbewusste Touristen

Merkmale des Marktsegments:

• Insgesamt adressierbarer Markt: 245 Millionen Reisende
• Durchschnittliche Reiseausgaben: 1.200 $
• Rabattsensitivität: 72 % suchen nach Aktionspaketen

Digitalaffine Millennials

Das digital fokussierte Kundensegment von Tuniu:

• Gesamtmarktgröße: 215 Millionen Nutzer
• Anteil mobiler Buchungen: 93 %
• Reiseeinfluss in den sozialen Medien: 76 % durch Online-Bewertungen beeinflusst

Gruppen- und Individualreisemärkte

Reiseart	Marktvolumen	Durchschnittlicher Buchungswert
Gruppenreisen	38 % des Gesamtmarktes	2.800 $ pro Gruppe
Individuelle Reisen	62 % des Gesamtmarktes	1.950 $ pro Reisender

Tuniu Corporation (TOUR) – Geschäftsmodell: Kostenstruktur

Wartung der Technologieinfrastruktur

Jährliche Kosten für die Technologieinfrastruktur: 12,4 Millionen US-Dollar im Jahr 2023

Infrastrukturkomponente	Jährliche Kosten
Cloud-Computing-Dienste	4,7 Millionen US-Dollar
Serverwartung	3,2 Millionen US-Dollar
Netzwerksicherheit	2,5 Millionen Dollar
Softwarelizenzierung	2 Millionen Dollar

Aufwendungen für Marketing und Kundenakquise

Gesamte Marketingausgaben: 18,6 Millionen US-Dollar im Jahr 2023

• Ausgaben für digitale Werbung: 8,3 Millionen US-Dollar
• Social-Media-Marketing: 4,2 Millionen US-Dollar
• Performance-Marketing: 3,5 Millionen US-Dollar
• Markenkampagnen: 2,6 Millionen US-Dollar

Plattformentwicklung und Innovation

F&E-Investitionen: 15,7 Millionen US-Dollar im Jahr 2023

Innovationsbereich	Zuordnung
Verbesserung der mobilen Plattform	6,3 Millionen US-Dollar
KI und maschinelles Lernen	4,9 Millionen US-Dollar
User Experience Design	2,8 Millionen US-Dollar
Neue Technologien	1,7 Millionen US-Dollar

Vergütung und Schulung der Mitarbeiter

Gesamter Personalaufwand: 22,3 Millionen US-Dollar im Jahr 2023

• Grundgehälter: 16,5 Millionen US-Dollar
• Leistungsprämien: 3,2 Millionen US-Dollar
• Schulung und Entwicklung: 1,8 Millionen US-Dollar
• Leistungen an Arbeitnehmer: 0,8 Millionen US-Dollar

Kundensupport und Servicebetrieb

Betriebskosten für den Kundenservice: 7,2 Millionen US-Dollar im Jahr 2023

Support-Kanal	Jährliche Kosten
Callcenter-Betrieb	3,6 Millionen US-Dollar
Online-Support-Plattform	2,1 Millionen US-Dollar
Kundendienstschulung	0,9 Millionen US-Dollar
Support-Technologie	0,6 Millionen US-Dollar

Tuniu Corporation (TOUR) – Geschäftsmodell: Einnahmequellen

Provision aus Reisebuchungen

Im Jahr 2022 meldete die Tuniu Corporation einen Gesamtumsatz von 74,4 Millionen US-Dollar, wobei Reisebuchungsprovisionen einen erheblichen Teil ihrer Einnahmequelle ausmachten.

Einnahmequelle	Prozentsatz	Betrag (USD)
Provisionen für Online-Reisebüros	45%	33,48 Millionen US-Dollar
Provisionen für Pauschalreisen	25%	18,60 Millionen US-Dollar

Servicegebühren für Reisepakete

Tuniu generiert Servicegebühren aus umfassenden Reisepaketangeboten.

• Servicegebühren für inländische Reisepakete: 12,5 Millionen US-Dollar
• Servicegebühren für internationale Reisepakete: 7,2 Millionen US-Dollar
• Servicegebühren für Gruppenreisen: 4,3 Millionen US-Dollar

Einnahmen aus Werbung und Verkaufsförderung

Werbeeinnahmen tragen zur Einkommensdiversifizierungsstrategie von Tuniu bei.

Werbekanal	Umsatz (USD)
Werbung für mobile Plattformen	5,6 Millionen US-Dollar
Website-Werbeflächen	3,2 Millionen US-Dollar

Transaktionsgebühren für mobile Anwendungen

Die mobile Plattform von Tuniu generiert transaktionsbasierte Einnahmen.

• Transaktionsvolumen mobiler Apps: 22,1 Millionen US-Dollar
• Transaktionsgebührensatz: 2-3 %
• Gesamtgebühren für mobile Transaktionen: 0,66 Millionen US-Dollar

Partnerschafts- und Empfehlungseinkommen

Strategische Partnerschaften tragen zu zusätzlichen Einnahmequellen bei.

Partnerkategorie	Empfehlungseinkommen (USD)
Hotelpartnerschaften	4,5 Millionen US-Dollar
Empfehlungen von Fluggesellschaften	3,8 Millionen US-Dollar
Empfehlungen zur Reiseversicherung	1,2 Millionen US-Dollar

Tuniu Corporation (TOUR) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose Tuniu Corporation (TOUR) over the competition as of late 2025. It's all about delivering comprehensive, segmented, and technologically-backed travel solutions.

One-stop shop for comprehensive leisure travel solutions

Tuniu Corporation positions itself as the go-to provider for integrated travel service, making travel easier for you. This is clearly reflected in their revenue structure, showing a heavy reliance on their core packaged offerings.

For the third quarter of 2025, Tuniu Corporation reported net revenues of RMB 202.1 million (US$28.4 million). The backbone of this business is the packaged tour segment, which generated RMB 179.0 million (US$25.1 million) in Q3 2025, making up 89% of total net revenues. This focus on packaged tours, which includes organized and self-guided options, demonstrates the value proposition of providing a complete, pre-arranged travel solution in one place.

Financial Metric (2025)	Q1 2025 Amount (RMB)	Q2 2025 Amount (RMB)	Q3 2025 Amount (RMB)
Net Revenues	117.5 million	134.9 million	202.1 million
Packaged Tour Revenues	99 million	113.4 million	179.0 million
Packaged Tour Revenue % of Total	84%	84%	89%

Differentiated, high-quality packaged tours (Niu Tour) for mid-to-high-end customers

The Niu Tour line is specifically designed for customers who prioritize experience and have the budget for premium offerings. Tuniu leverages its strength in outbound tourism to introduce niche products, like the organized tour to South America launched in October 2025.

This segment shows strong customer loyalty; over half of the customers booking Niu Tour products are Tuniu's loyal customers. The overall performance of these premium offerings is solid, with Niu Tour transaction volumes growing by over 25% year-over-year in Q2 2025.

• Niu Tour series spans all major regions across Asia.
• Targeted at mid- to high-end customers.
• Over 50% of Niu Tour customers are Tuniu loyalists.

Cost-effective, value-driven packages (Niu Select) for price-sensitive buyers

For travelers watching their spending, Niu Select provides value-focused itineraries, often promoted through live streaming channels. This segment is clearly resonating, as its transaction volume saw a massive increase of over 80% in Q1 2025 compared to the prior quarter.

The combined transaction volume for Niu Tours and Niu Select grew by more than 25% year-over-year in Q2 2025. This dual-product strategy lets Tuniu Corporation capture both ends of the market effectively.

Convenience of organized tours with pre-arranged itineraries and services

The growth in packaged tours directly speaks to the convenience factor you're looking for. Organized tours and self-drive tours were the primary drivers behind the 26.3% year-over-year increase in packaged tour revenues in Q2 2025, and the 12.4% year-over-year revenue increase in Q3 2025. You get pre-arranged itineraries, which simplifies the planning process immensely.

Enhanced customer experience via AI applications and 24/7 service

Tuniu Corporation is actively integrating technology to improve service quality and efficiency. They explicitly plan to further apply technologies such as AI applications across more scenarios to enhance operational efficiency and customer experience.

The commitment to service is supported by infrastructure, including a dedicated team of professional customer service representatives and 24/7 call centers. While Tuniu's specific AI service metrics aren't public, industry trends suggest the direction: AI chatbots offer 24/7 customer support, and AI adoption can potentially lower operational costs in customer service by 30% to 35%. Tuniu's investment in this area is visible in their R&D spending; Research and product development expenses for Q3 2025 were RMB 15.7 million (US$2.2 million), a 15.4% year-over-year increase.

The focus on technology is a clear investment in your future experience.

Tuniu Corporation (TOUR) - Canvas Business Model: Customer Relationships

You're looking at how Tuniu Corporation keeps its customers engaged and satisfied across its travel ecosystem as of late 2025. It's a blend of digital scale and physical presence, which is key in the Chinese leisure travel market.

The foundation of Tuniu Corporation's customer relationship strategy is its self-service digital core. This is where the bulk of transactions originate. For instance, in the third quarter of 2025, revenues from packaged tours, which are heavily driven by the online platform and mobile app, grew by 12.4% year-over-year, reaching RMB 179.0 million. This segment accounted for 89% of the company's total net revenues for that quarter. The platform's ability to handle this volume efficiently is critical to maintaining a low-friction experience for the everyday traveler.

When things get complex, or for high-value bookings, Tuniu Corporation maintains a safety net of human support. They operate dedicated 24/7 call centers staffed by professional customer service representatives. This ensures that whether you're booking a last-minute change or need detailed itinerary support, someone is available around the clock. This high-touch element is a deliberate counterpoint to the pure self-service model.

To make the digital experience smarter, Tuniu Corporation has deeply integrated artificial intelligence. They officially launched their self-developed AI Assistant Little Niu in 2025. This agent uses open-source large language models like DeepSeek and Tongyi Qianwen, deeply integrated with vertical travel scenarios. Its primary function is to intelligently recommend travel plans and provide personalized suggestions based on user needs, helping you search for and book air tickets, hotels, and train tickets easily. Management stated a commitment to further apply AI applications across more scenarios to enhance customer experience moving into Q4 2025.

The high-touch, in-person service is delivered through an expanding network of offline retail stores. These physical touchpoints are especially popular with senior travelers and community-based customers who prefer face-to-face interaction, often for organized tour products. Tuniu Corporation had expanded this footprint to nearly 300 offline stores as of Q1 2025. This strategy is showing traction; in Q3 2025, the transaction volume from these offline stores increased by nearly 20% year-over-year. They even opened 2 flagship stores in Xi'an on the same day in September 2025 to better serve customers preparing for the National Day holiday travel.

For loyalty, Tuniu Corporation focuses on delivering quality, which drives high repurchase rates for premium products like Niu Tour. While specific repurchase percentages for Niu Tour aren't public, the company's focus on product quality and innovation is intended to fuel long-term growth and repeat business. On the financial side, Tuniu Corporation demonstrates commitment to its shareholders, having repurchased approximately 3.0 million ADSs for about US$2.6 million by November 30, 2025, under its 2025 Share Repurchase Program. Furthermore, the Board declared a cash dividend of US$0.036 per ADS in March 2025, totaling approximately US$4.2 million to be distributed.

Here's a quick look at some key operational metrics from the third quarter of 2025:

Metric	Value (RMB)	Value (USD)	YoY Change
Net Revenues	202.1 million	28.4 million	+8.6%
Packaged Tour Revenues	179.0 million	25.1 million	+12.4%
Gross Profit	109.6 million	15.4 million	-10.0%
Operating Expenses	95.8 million	N/A	+3%

The customer relationship strategy relies on several service delivery channels:

• Digital self-service via the online platform and mobile app.
• Personalized planning via the AI Assistant Little Niu.
• Face-to-face support at nearly 300 offline stores.
• 24/7 availability through call centers.
• Targeted service for corporate customers, which saw double-digit YoY growth in Q3 2025.

Finance: draft 13-week cash view by Friday.

Tuniu Corporation (TOUR) - Canvas Business Model: Channels

You're looking at how Tuniu Corporation moves its product-packaged tours and travel services-to the customer base. It's a blend of digital dominance and physical presence, which is key in the Chinese travel market.

Tuniu.com website and mobile application (primary online channels)

The core of Tuniu Corporation's distribution remains its digital front door. You'll find the full suite of offerings, from organized tours to self-guided packages, available through the tuniu.com website and its dedicated mobile platform. This is where the majority of their transactions originate, providing that one-stop leisure travel solution they aim for. For instance, in Q1 2025, net revenues hit RMB 117.5 million (US$16.2 million), all flowing through these online channels and related services.

Live streaming platforms, contributing over 15% of Q1 2025 transaction volume

Tuniu Corporation has aggressively integrated newer media into its sales mix. Live streaming has become a significant driver, showing real traction. Management noted that these channels contributed over 15% of the company's total transaction volume during Q1 2025. This signals a successful pivot to content-driven commerce, moving beyond simple listing pages.

Extensive network of offline retail stores and regional service centers

To support the digital push, Tuniu Corporation maintains a physical footprint. This network is crucial for high-touch customer service and localized sales, especially for complex or high-value packages. As of June 30, 2025, the company operated over 320+ offline stores throughout China. These physical touchpoints aren't just for support; they drive bookings. In Q3 2025, the transaction volume specifically from these offline stores saw an increase of nearly 20% year-over-year.

Here's a quick look at how the primary channels stacked up in the latest reported quarter:

Channel Type	Key Metric/Data Point	Period/Date	Value
Online Platform (Website/App)	Net Revenues Contribution (Implied)	Q1 2025	Majority (RMB 117.5 million total net revenue)
Live Streaming	Transaction Volume Contribution	Q1 2025	Over 15%
Offline Stores	Store Count	June 30, 2025	320+
Offline Stores	Year-over-Year Transaction Volume Growth	Q3 2025	Nearly 20%

Direct sales force for organized tours and corporate travel

The focus on packaged tours is evident in the revenue structure. Organized tours are the engine here. Revenues from core packaged tour products accounted for a massive 89% of Tuniu Corporation's total net revenues in Q3 2025, totaling RMB 179 million. This segment is heavily supported by a direct sales force managing these complex products and servicing corporate needs. The company also leverages its expertise to offer tailored vacation products to corporate clients alongside standard business travel bookings.

Third-party distribution platforms (e.g., social media, content platforms)

While Tuniu Corporation emphasizes its owned platforms, it also collaborates to extend reach. The search data mentions Tuniu Corp collaborated with more online influencers to extend its reach in 2024. This suggests an active, though perhaps less quantified, channel strategy involving social media and content platforms to drive traffic back to their primary booking sites. They are defintely using these external partners to amplify marketing efforts.

You should track the growth rate of the live streaming channel against the growth of the core packaged tour revenue, which was up 12.4% year-over-year in Q3 2025.

• Use of 60+ self-operated live streaming accounts for direct engagement.
• Leveraging 24/7 call centers for pre, during, and post-travel customer support across all channels.
• Focus on expanding the physical store footprint in major cities and key transportation hubs.

Finance: draft 13-week cash view by Friday.

Tuniu Corporation (TOUR) - Canvas Business Model: Customer Segments

You're looking at the core groups Tuniu Corporation is targeting as of late 2025, based on their latest reported performance. The focus remains heavily on the packaged tour customer, but with clear segmentation for different spending levels.

Leisure travelers in China seeking domestic and outbound packaged tours form the bedrock of Tuniu Corporation's business. This is evident in the revenue contribution, where revenues from packaged tours accounted for 89% of total net revenues in the third quarter of 2025, totaling RMB 179 million. This segment is further refined into distinct value propositions.

The Mid-to-high-end customers prioritizing quality and service are served primarily through the Niu Tour segment. Management noted that for Niu Tour products, over half of the customers are Tuniu's loyal customers. This segment is being pushed into premium experiences, with the Niu Tour series now spanning all major regions, including the launch of its first organized tour to South America in October 2025.

For Budget-conscious travelers seeking value-for-money packages, the Niu Select segment is key. Tuniu expanded its offerings here to include more price-competitive products. The success of this value-driven approach is quantifiable; Niu Select itineraries covering Singapore and Malaysia passed 10,000 paying customers through live streaming shows by the end of the second quarter of 2025.

Independent travelers booking self-guided tours are also a focus, evidenced by the growth in self-drive tours, which contributed to the 12% year-over-year increase in packaged tour revenue in Q3 2025. The transaction volume for self-drive tour products specifically increased by 5 times year-over-year during the National Day holiday period in the third quarter. Tuniu provides these one-stop solutions through its online platform and offline service network.

A key expansion target involves customers in lower-tier cities. Management explicitly highlighted efforts to extend offerings to these areas, where they see significant potential for growth. This strategy is supported by the company's overall financial health, holding cash and equivalents of RMB 1.1 billion as of September 30, 2025, providing the flexibility to invest in new market penetration.

Here's a quick look at how the core revenue streams, which directly map to these customer segments, broke down in the latest reported quarter:

Revenue Category	Q3 2025 Revenue (RMB)	Year-over-Year Growth	% of Total Net Revenue (Q3 2025)
Packaged Tours (Niu Tour/Select/Self-Drive)	RMB 179 million	Up 12.4%	89%
Other Revenues (Commission Fees, etc.)	RMB 23 million	Down 13.7%	11%
Total Net Revenues	RMB 202.1 million	Up 8.6%	100%

The company is defintely leaning on its core packaged tour offering to serve these varied customer needs, from the premium Niu Tour buyer to the value-seeking Niu Select customer.

The customer base is also being reached through diversified sales channels, with management noting that more sales are coming from new channels like live streaming and off-line stores.

• Niu Tour customers prioritize travel experience.
• Niu Select products emphasize cost-effective value.
• Self-drive tour transaction volume grew by 5 times during the National Day holiday.
• Long-haul island product transaction volume grew by several times year-over-year in Q3 2025.
• Tuniu aims to ensure more new and regular customers think of them first.

Finance: draft Q4 2025 customer acquisition cost analysis by next Tuesday.

Tuniu Corporation (TOUR) - Canvas Business Model: Cost Structure

You're looking at the expense side of Tuniu Corporation's operations as of late 2025. The cost structure for the third quarter ended September 30, 2025, shows where the money went to support their net revenues of RMB 202.1 million.

The major cost buckets are clearly laid out in their recent earnings release. Keep in mind that the US Dollar conversions use the exchange rate of US$1.00=RMB7.1190 on September 30, 2025.

Here's a breakdown of the key reported expenses for Q3 2025:

Cost Component	Q3 2025 Amount (RMB)	Q3 2025 Amount (US$)	Year-over-Year Change
Cost of revenues	RMB 92.5 million	US$13.0 million	Increase of 44.0%
Sales and marketing expenses	RMB 61.5 million	US$8.6 million	Increase of 1.6%
Research and product development expenses	RMB 15.7 million	US$2.2 million	Increase of 15.4%
General and administrative expenses	RMB 18.5 million	US$2.6 million	Almost in line with Q3 2024

Total operating expenses for the quarter reached RMB 95.8 million (US$13.5 million), which was a 3.4% increase year-over-year. The cost of revenues, at 45.8% of net revenues, was significantly higher than the 34.5% seen in the same period last year, which is definitely something to watch for margin pressure.

We can infer some detail about personnel costs, even without a direct line item for every role you mentioned. The growth in two key operating expense areas was explicitly tied to headcount:

• Personnel costs for research and product development staff drove the 15.4% increase in R&D expenses.
• Personnel costs for sales and marketing staff were the primary reason for the 1.6% rise in Sales and marketing expenses.

The General and administrative expenses (G&A) were RMB 18.5 million, representing 9.2% of net revenues for the quarter. While the total G&A was flat compared to Q3 2024, historical context from prior periods suggests that G&A personnel-related expenses are a component that Tuniu Corporation has actively managed, seeing a significant decrease in personnel-related G&A in 2024 compared to 2023.

To summarize the expense allocation relative to net revenues for Q3 2025:

• Cost of revenues consumed 45.8% of net revenues.
• Sales and marketing expenses accounted for 30.5% of net revenues.
• Research and product development expenses represented 7.8% of net revenues.
• General and administrative expenses were 9.2% of net revenues.

Finance: draft 13-week cash view by Friday.

Tuniu Corporation (TOUR) - Canvas Business Model: Revenue Streams

You're looking at how Tuniu Corporation brings in its money as of late 2025. The core of the business is still selling travel packages, but the other streams are definitely showing some pressure based on the latest figures.

Packaged tour sales (organized and self-guided) is the main engine for Tuniu Corporation. This segment includes both the traditional organized tours and the growing self-guided options, which saw transaction volume for self-drive tours increase over 5 times during the National Day holiday period.

Here's a breakdown of the revenue performance for the third quarter of 2025:

Revenue Stream Component	Q3 2025 Amount (RMB million)	Q3 2025 Amount (US$ million)	Share of Net Revenue	Year-over-Year Change
Packaged Tours Revenue	179.0	25.1	89%	+12.4%
Other Revenues	23.0	3.2	11%	-13.7%
Total Net Revenues	202.1	28.4	100%	+8.6%

The revenue from packaged tours was explicitly reported as RMB 179.0 million (US$25.1 million) in Q3 2025. This growth was primarily driven by the increase in organized tours and self-guided tours.

The secondary revenue sources fall under Other Revenues, which saw a year-over-year decrease of 13.7% in Q3 2025. This bucket captures several distinct streams:

• Commission fees from other travel-related products (e.g., flights, hotels): The decline in Other Revenues was primarily attributed to a decrease in these commission fees.
• Service fees from travel insurance and financial services: These are components within the Other Revenues category, though specific Q3 2025 figures separate from the total are not detailed in the latest reports.
• Advertising fees from tourism boards and bureaus: This is another component contributing to the Other Revenues total.

To be fair, while the core packaged tour business is expanding, the pressure on the commission-based streams is definitely something to watch. The total net revenues for the quarter grew by 8.6% year-over-year to RMB 202.1 million.

Finance: draft 13-week cash view by Friday.