Tuniu Corporation (Tour): Business Model Canvas [Jan-2025 Mise à jour]

Dans le paysage dynamique des services de voyage en ligne, Tuniu Corporation (Tour) émerge comme une puissance numérique remodelant la façon dont les voyageurs chinois explorent et réservent leurs voyages. En mélangeant de manière transparente les technologies de pointe avec des solutions de voyage complètes, cette plate-forme innovante a sculpté un créneau unique sur le marché du tourisme numérique compétitif. Des recommandations personnalisées aux forfaits de voyage rentables, le modèle commercial de Tuniu représente une approche sophistiquée pour connecter les voyageurs à des expériences inoubliables, en tirant parti de l'infrastructure numérique de pointe et des partenariats stratégiques qui redéfinissent la réservation de voyage moderne.

Tuniu Corporation (Tour) - Modèle d'entreprise: partenariats clés

Fournisseurs de services de voyage en ligne et plateformes de réservation

Tuniu Corporation entretient des partenariats stratégiques avec les principales plateformes de voyage en ligne:

Plate-forme partenaire	Détails du partenariat	Volume de transaction annuel
Groupe CTrip / Trip.com	Intégration de réservation de plate-forme multiplate	42,3 millions de dollars en revenus partagés (2023)
Qunar	Offres de packages de voyage collaboratifs	18,7 millions de dollars en transactions conjointes

Boards de tourisme chinois et agences de voyage locales

Le réseau collaboratif comprend:

• Administration nationale du tourisme en Chine
• Départements du tourisme provincial dans 21 régions
• Plus de 350 partenariats d'agence de voyage locaux

Partenaires technologiques pour les infrastructures numériques

Partenaire technologique	Foyer technologique	Montant d'investissement
Nuage d'alibaba	Infrastructure cloud et gestion des données	6,5 millions de dollars d'investissement annuel
Technologie Tencent	Développement de plate-forme mobile	4,2 millions de dollars d'investissement collaboratif

Réseaux de services d'hôtel et de transport

Couverture de partenariat approfondie:

• Plus de 500 000 propriétés de l'hôtel intégrées
• Partenariats avec 47 transporteurs de compagnies aériennes nationales
• Collaboration avec 230 fournisseurs de transport régionaux

Collaborateurs de passerelle marketing numérique et de paiement

Partenaire	Type de service	Volume de transaction
Alipay	Intégration de la passerelle de paiement	Valeur de transaction annuelle de 215 millions de dollars
WeChat Pay	Solutions de paiement mobile	187 millions de dollars transactions traitées

Tuniu Corporation (Tour) - Modèle d'entreprise: activités clés

Services de réservation de voyage en ligne et de réservation

En 2024, Tuniu Corporation traite environ 3,5 millions de réservations de voyage en ligne par an. La plate-forme numérique de l'entreprise prend en charge les transactions à travers:

• Marché de voyage chinois national
• Destinations de voyage internationales
• Forfaits de voyage en groupe et individuels

Catégorie de réservation	Volume de transaction annuel	Valeur de transaction moyenne
Voyage intérieur	2,1 millions de réservations	1 200 ¥ par réservation
Voyage international	850 000 réservations	4 500 ¥ par réservation
Forfaits de voyage en groupe	550 000 réservations	3 800 ¥ par réservation

Développement et conservation du forfait de voyage

Tuniu développe environ 1 200 forfaits de voyage uniques par an, avec 65% se sont concentrés sur les destinations domestiques et 35% ciblant les marchés internationaux.

Maintenance et innovation de la plate-forme numérique

Métriques d'investissement technologique:

• Dépenses annuelles de R&D: 12,3 millions de dollars
• Temps de disponibilité de la plate-forme: 99,97%
• Application mobile Utilisateurs actifs mensuels: 4,2 millions

Service client et gestion du support

Canal de support	Volume d'interaction annuel	Temps de réponse moyen
Support téléphonique	1,5 million d'interactions	12 minutes
Chat en ligne	2,3 millions d'interactions	8 minutes
Assistance par e-mail	680 000 interactions	24 heures

Création de contenu de voyage et marketing de destination

Statistiques de production de marketing et de contenu:

• Pièces de contenu annuelles: 8 400
• Abonnés des médias sociaux: 12,6 millions
• Taux d'engagement du contenu: 4,3%

Tuniu Corporation (Tour) - Modèle d'entreprise: Ressources clés

Infrastructure de technologie numérique avancée

Investissement total d'infrastructure technologique en 2023: 42,6 millions de dollars

Composant technologique	Montant d'investissement
Systèmes de cloud computing	18,3 millions de dollars
Plateformes d'analyse de données	12,7 millions de dollars
Infrastructure de cybersécurité	11,6 millions de dollars

Base de données de services de voyage étendue

Statistiques de la base de données depuis le quatrième trimestre 2023:

• Entrées totales de services de voyage: 3,2 millions
• Listes de destination uniques: 127 000
• Partenariats des fournisseurs de services: 4 500

Forte reconnaissance de la marque sur le marché chinois

Métriques d'évaluation de la marque:

Métrique du marché	Valeur
Taux de reconnaissance de la marque	68.3%
Index de fidélité des clients	0.72

Technologie qualifiée et équipes de service à la clientèle

Composition de la main-d'œuvre en 2023:

• Total des employés: 1 247
• Professionnels de la technologie: 623
• Représentants du service à la clientèle: 412
• Tenure moyenne des employés: 4,3 ans

Plateforme en ligne stratégique et applications mobiles

Métriques de performance de la plate-forme numérique:

Métrique de la plate-forme	Valeur
Utilisateurs actifs mensuels	8,6 millions
Compte de téléchargement d'application mobile	22,4 millions
Volume de transaction en ligne annuel	412 millions de dollars

Tuniu Corporation (Tour) - Modèle d'entreprise: propositions de valeur

Solutions complètes de réservation de voyage en ligne

Au quatrième trimestre 2023, Tuniu Corporation propose des services de réservation de voyage en ligne couvrant 728 villes à travers la Chine. La plate-forme traite environ 3,2 millions de commandes de voyage par an, avec un volume de transaction numérique de 2,1 milliards de RMB.

Catégorie de service	Volume de transaction annuel	Réalisation de l'utilisateur
Réservations de voyage domestiques	1,6 milliard de RMB	2,1 millions d'utilisateurs
Réservations de voyage internationales	500 millions RMB	680 000 utilisateurs

Offres compétitives et diversifiées des forfaits de voyage

Tuniu fournit 174 catégories uniques de forfaits de voyage couvrant:

• Visites de groupe
• Packages de voyage indépendants
• Expériences de voyage personnalisées
• Solutions de voyage d'entreprise

Plates-formes numériques pratiques et conviviales

Métriques de performance de la plate-forme numérique pour 2023:

Plate-forme	Utilisateurs actifs mensuels	Taux de téléchargement de l'application
Application mobile	12,4 millions	3,2 millions de téléchargements
Plate-forme Web	8,7 millions	N / A

Recommandations de voyage personnalisées

Caractéristiques du système de recommandation basées sur l'IA:

• Algorithmes d'apprentissage automatique analysant 43,6 millions de préférences utilisateur
• Précision de personnalisation en temps réel de 87,3%
• Suggestions de voyage personnalisées basées sur l'historique des utilisateurs individuels

Services de planification des voyages rentables

Compétition des prix en 2023:

Type de service	Réduction moyenne	Économies de coûts
Packages domestiques	15-25%	Moyenne 320 RMB par réservation
Packages internationaux	10-20%	Moyenne 1 200 RMB par réservation

Tuniu Corporation (Tour) - Modèle d'entreprise: Relations clients

Plates-formes numériques en libre-service

Tuniu exploite une plate-forme en ligne complète avec 62,3 millions d'utilisateurs enregistrés en 2023. La plate-forme numérique a traité environ 15,4 millions de commandes de voyage au cours de la période d'information financière la plus récente.

Métrique de la plate-forme	2023 données
Utilisateurs enregistrés	62,3 millions
Commandes de voyages totaux	15,4 millions
Taux de conversion de réservation en ligne	3.7%

Systèmes de support client automatisé

TUNIU a mis en œuvre les technologies de support client axées sur l'IA gantant environ 78% des demandes initiales des clients via des canaux automatisés.

• Taux de réponse au chatbot AI: 92,6%
• Temps de résolution moyen: 7,2 minutes
• Score de satisfaction du client: 84,3%

Algorithmes de recommandation personnalisés

Le système de recommandation génère des suggestions de voyage personnalisées avec un taux de clics de 45,2%, en utilisant des algorithmes d'apprentissage automatique Traitement sur 1,2 pétaoctets de données d'interaction utilisateur.

Programme de fidélité et mécanismes de récompense

Métrique du programme de fidélité	2023 statistiques
Membres de la fidélité totale	8,6 millions
Tarif client répété	37.5%
Points moyens rachat	42,70 $ par transaction

Engagement d'interactif d'application mobile

L'application mobile de Tuniu a enregistré 24,7 millions d'utilisateurs actifs mensuels avec une durée de session moyenne de 12,4 minutes en 2023.

• Count de téléchargement d'applications mobiles: 41,3 millions
• Pourcentage de réservation mobile: 68,2%
• Taux d'engagement de la notification push: 53,6%

Tuniu Corporation (Tour) - Modèle d'entreprise: canaux

Site officiel

Tuniu.com est le principal canal de vente directe avec 8,7 millions d'utilisateurs enregistrés en 2023. Le trafic du site Web a enregistré 42,3 millions de visiteurs uniques mensuels au quatrième trimestre 2023.

Métrique du site Web	2023 données
Utilisateurs enregistrés	8,7 millions
Visiteurs uniques mensuels	42,3 millions

Plates-formes d'application mobile

L'application mobile de Tuniu disponible sur les plates-formes iOS et Android avec 6,2 millions d'utilisateurs mensuels actifs en 2023.

• Note IOS App Store: 4.5 / 5
• Android Google Play Rating: 4.3 / 5
• Volume de téléchargement de l'application: 15,6 millions de téléchargements cumulatifs

Réseaux de médias sociaux

Tuniu maintient une présence active sur plusieurs plateformes sociales.

Plate-forme	Nombre de suiveurs
Weibo	2,1 millions
Compte officiel de WeChat	1,5 million

Portails de réservation de voyage en ligne

Partenariats intégrés avec 12 principales plateformes de réservation de voyage en ligne en Chine, générant 35% du total des revenus de réservation en 2023.

Plates-formes de commerce électronique tierces

Présence active sur les principales plateformes de commerce électronique chinois avec 22% du total des ventes générées par ces canaux.

Plate-forme de commerce électronique	Contribution des ventes
Alibaba Tmall	9.5%
Jd.com	7.2%
Pinduoduo	5.3%

Tuniu Corporation (Tour) - Modèle d'entreprise: segments de clientèle

Voyageurs domestiques chinois

En 2023, TUNIU Corporation cible 670 millions de voyageurs nationaux en Chine, en mettant l'accent sur:

• Fréquence de voyage annuelle moyenne: 2,3 voyages par personne
• Valeur du segment de marché: 78,4 milliards de dollars
• Tranche d'âge primaire: 25 à 45 ans

Catégorie de voyage	Part de marché	Dépenses annuelles
Voyageurs de loisirs domestiques	42.6%	3 200 $ par voyageur
Voyages d'escapavation du week-end	28.3%	1 750 $ par voyageur

Jeunes professionnels urbains

Tuniu cible 186 millions de jeunes professionnels urbains avec des préférences de voyage spécifiques:

• Budget de voyage annuel moyen: 4 500 $
• Destinations préférées: villes de niveau 1 et 2
• Préférence de réservation numérique: 89% de réservations en ligne

Touristes soucieux du budget

Caractéristiques du segment du marché:

• Marché total adressable: 245 millions de voyageurs
• Dépenses de voyage moyenne: 1 200 $
• Sensibilité à la réduction: 72% recherchent des forfaits promotionnels

Milléniaux avertis du numérique

Le segment de clientèle axé sur le numérique de Tuniu:

• Taille totale du marché: 215 millions d'utilisateurs
• Pourcentage de réservation mobile: 93%
• Influence des voyages sur les réseaux sociaux: 76% influencés par les critiques en ligne

Marchés de voyage en groupe et individuels

Type de voyage	Volume de marché	Valeur de réservation moyenne
Voyage de groupe	38% du marché total	2 800 $ par groupe
Voyage individuel	62% du marché total	1 950 $ par voyageur

Tuniu Corporation (Tour) - Modèle d'entreprise: Structure des coûts

Maintenance des infrastructures technologiques

Coûts d'infrastructure technologique annuelle: 12,4 millions de dollars en 2023

Composant d'infrastructure	Coût annuel
Services de cloud computing	4,7 millions de dollars
Maintenance du serveur	3,2 millions de dollars
Sécurité du réseau	2,5 millions de dollars
Licence de logiciel	2 millions de dollars

Frais de marketing et d'acquisition des clients

Total des dépenses de marketing: 18,6 millions de dollars en 2023

• Dépenses publicitaires numériques: 8,3 millions de dollars
• Marketing des médias sociaux: 4,2 millions de dollars
• Marketing de performance: 3,5 millions de dollars
• Campagnes de marque: 2,6 millions de dollars

Développement et innovation de la plate-forme

Investissement en R&D: 15,7 millions de dollars en 2023

Zone d'innovation	Allocation
Amélioration de la plate-forme mobile	6,3 millions de dollars
IA et apprentissage automatique	4,9 millions de dollars
Conception de l'expérience utilisateur	2,8 millions de dollars
Technologies émergentes	1,7 million de dollars

Compensation et formation des employés

Total des dépenses du personnel: 22,3 millions de dollars en 2023

• Salaires de base: 16,5 millions de dollars
• Bonus de performance: 3,2 millions de dollars
• Formation et développement: 1,8 million de dollars
• Avantages sociaux: 0,8 million de dollars

Assistance client et opérations de service

Coûts opérationnels du service à la clientèle: 7,2 millions de dollars en 2023

Canal de support	Coût annuel
Opérations du centre d'appels	3,6 millions de dollars
Plateforme d'assistance en ligne	2,1 millions de dollars
Formation du service à la clientèle	0,9 million de dollars
Technologie de soutien	0,6 million de dollars

Tuniu Corporation (Tour) - Modèle d'entreprise: Strots de revenus

Commission des réservations de voyage

En 2022, Tuniu Corporation a déclaré un chiffre d'affaires total de 74,4 millions de dollars, les commissions de réservation de voyage représentant une partie importante de leur flux de revenus.

Source de revenus	Pourcentage	Montant (USD)
Commissions d'agence de voyage en ligne	45%	33,48 millions de dollars
Commissions de tournée à forfait	25%	18,60 millions de dollars

Frais de service pour les forfaits de voyage

Tuniu génère des frais de service à partir d'offres complètes de forfaits de voyage.

• Frais de service de package de voyage national: 12,5 millions de dollars
• Frais de service de package de voyage international: 7,2 millions de dollars
• Frais de service de tournée de groupe: 4,3 millions de dollars

Revenus publicitaires et promotionnels

Les revenus publicitaires contribuent à la stratégie de diversification des revenus de Tuniu.

Canal de publicité	Revenus (USD)
Publicité de la plate-forme mobile	5,6 millions de dollars
Espaces promotionnels du site Web	3,2 millions de dollars

Frais de transaction d'application mobile

La plate-forme mobile de Tuniu génère des revenus basés sur les transactions.

• Volume de transaction d'applications mobiles: 22,1 millions de dollars
• Taux de frais de transaction: 2-3%
• Total des frais de transaction mobile: 0,66 million de dollars

Partenariat et revenu de référence

Les partenariats stratégiques contribuent à des sources de revenus supplémentaires.

Catégorie de partenaire	Revenu de référence (USD)
Partenariats hôteliers	4,5 millions de dollars
Références aériennes	3,8 millions de dollars
Références d'assurance voyage	1,2 million de dollars

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.