Page 1

Tuniu Announces Unaudited Third Quarter 2021 Financial Results -- NANJING , China , November 19 , 2021 Tuniu Corporation ( NASDAQ : TOUR ) ( " Tuniu " or the " Company " ) , a leading online leisure travel company in China , today announced its unaudited financial results for the third quarter ended September 30 , 2021 . " Tuniu's focus on providing high - quality products and services and a high level of customer satisfaction continues to drive results . The transaction volume of our self - operated local tour products saw double digit year - on - year growth for the quarter even as the recovery of the overall tourism industry experienced setbacks . Looking ahead , we will work to further improve customer experience in order to differentiate ourselves in China's travel industry . " said Mr. Donald Dunde Yu , Tuniu's founder , Chairman and Chief Executive Officer . " Reflecting our disciplined approach , Tuniu's operating expenses decreased year - on - year for the third consecutive quarter . We will continue to apply our existing cost control measures to further improve operational efficiency . " Third Quarter 2021 Results Net revenues were RMB114.6 million ( US $ 17.8 million 1 ) in the third quarter of 2021 , representing a year - over - year decrease of 7.2 % from the corresponding period in 2020. The decrease was primarily due to the negative impact brought by the outbreak and spread of COVID - 19 . • Revenues from packaged tours were RMB90.7 million ( US $ 14.1 million ) in the third quarter of 2021 , representing a year - over - year increase of 5.0 % from the corresponding period in 2020. The increase was primarily due to the growth in revenues from self - operated products . Other revenues were RMB23.9 million ( US $ 3.7 million ) in the third quarter of 2021 , representing a year - over - year decrease of 35.6 % from the corresponding period in 2020. The decrease was primarily due to the decline in commissions received from other travel - related products impacted by the outbreak and spread of COVID - 19 . Cost of revenues was RMB74.9 million ( US $ 11.6 million ) in the third quarter of 2021 , representing a year - over - year increase of 28.1 % from the corresponding period in 2020. As a percentage of net revenues , cost of revenues was 65.3 % in the third quarter of 2021 , compared to 47.3 % in the corresponding period in 2020 . Gross profit was RMB39.7 million ( US $ 6.2 million ) in the third quarter of 2021 , representing a year - over - year decrease of 38.9 % from the corresponding period in 2020 . Operating expenses were RMB96.4 million ( US $ 15.0 million ) in the third quarter of 2021 , representing a year - over - year decrease of 24.6 % from the corresponding period in 2020 . Share - based compensation expenses and amortization of acquired intangible assets , 1 The conversion of Renminbi ( " RMB " ) into United States dollars ( " US $ " ) is based on the exchange rate of US $ 1.00 = RMB 6.4434 on September 30 , 2021 as set forth in H.10 statistical release of the U.S. Federal Reserve Board and available at https://www.federalreserve.gov/releases/h10/default.htm .