On May 22, Tongcheng Travel (00780.HK) declined 5.1% in regular trading, trading at HKD 14.74/share, with trading volume of HKD 45.94 million. The decline came one day after the company released its Q1 earnings report.

On the earnings front, Tongcheng Travel reported Q1 revenue of RMB 5.006 billion, up 14.4% year-over-year, with attributable net profit of RMB 779.3 million, up 16.5%, and adjusted net profit of RMB 941 million, up 19.4%. Annual paid users reached 254 million with cumulative service trips of 2.05 billion. However, the vacation business segment saw revenue decline 5.0% to RMB 556 million from RMB 585 million in the prior year, primarily due to geopolitical factors impacting outbound group tour demand. Average monthly paid users remained flat at 46.4 million.

Within the Hotels, Resorts and Cruise Lines sector, TRIP.COM-S fell 2.08%, TRAVELSKY TECH fell 0.75%, and KAI YUAN HLDGS fell 9.09%, reflecting broad weakness across the travel sector.

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