Goldman Sachs released a research report indicating that TONGCHENGTRAVEL's (00780) fourth-quarter performance for the previous year met expectations. The group recorded a net profit of 103 million RMB during the period. Adjusted net profit increased by 18% year-on-year to 780 million RMB, aligning with the firm's and market expectations, while the net profit margin expanded by 0.5 percentage points compared to the previous year. The target price was raised from HK$28.8 to HK$29, with a "Buy" rating maintained.

The report mentioned that during meetings, the group's management expressed optimism regarding the business outlook for the 2026 fiscal year. Supported by the growing popularity of experiential travel and government initiatives such as additional seasonal holidays, leisure travel demand is expected to maintain strong growth momentum. The firm made minor adjustments to its adjusted earnings per share forecasts for the current and next fiscal years, raising them by 1% to 4%, and introduced projections for 2028. The group anticipates that core OTA business revenue will achieve mid-teens growth for the first quarter and the full year.