CMB International Raises TONGCHENGTRAVEL Price Target to HK$25.5, Anticipates Resilient Core Business Profit Growth This Year

Deep News

6 hours ago

A research report from CMB International states that TONGCHENGTRAVEL (00780) reported fourth-quarter revenue of RMB 4.8 billion, a year-on-year increase of 14.2%, which exceeded expectations. Adjusted net profit was RMB 780 million, rising 18% year-on-year and also surpassing forecasts. Revenue and operating profit margin from the core online travel agency (OTA) business were in line with the institution's projections. The firm has increased the stock's target price to HK$25.5 while maintaining a "Buy" rating.

The report highlights that, based on this earnings performance, the company's gross margin expanded more than anticipated, driven by an increased contribution from the high-margin core OTA business. Consequently, CMB International has raised its non-GAAP net profit forecasts for the current and next year by 5%. Supported by resilient travel demand, the institution projects that the company's core OTA business operating profit will grow 15% year-on-year in 2026.

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Adjusted net profit was RMB 780 million, rising 18% year-on-year and also surpassing forecasts. Revenue and operating profit margin from the core online travel agency (OTA) business were in line with the institution's projections. The firm has increased the stock's target price to HK$25.5 while maintaining a \"Buy\" rating.</p>\n<p>The report highlights that, based on this earnings performance, the company's gross margin expanded more than anticipated, driven by an increased contribution from the high-margin core OTA business. Consequently, CMB International has raised its non-GAAP net profit forecasts for the current and next year by 5%. Supported by resilient travel demand, the institution projects that the company's core OTA business operating profit will grow 15% year-on-year in 2026.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CMB International Raises TONGCHENGTRAVEL Price Target to HK$25.5, Anticipates Resilient Core Business Profit Growth This Year</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCMB International Raises TONGCHENGTRAVEL Price Target to HK$25.5, Anticipates Resilient Core Business Profit Growth This Year\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1039043262\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Deep News </p>\n<p class=\"h-time\">2026-03-25 17:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>A research report from CMB International states that TONGCHENGTRAVEL (00780) reported fourth-quarter revenue of RMB 4.8 billion, a year-on-year increase of 14.2%, which exceeded expectations. Adjusted net profit was RMB 780 million, rising 18% year-on-year and also surpassing forecasts. Revenue and operating profit margin from the core online travel agency (OTA) business were in line with the institution's projections. The firm has increased the stock's target price to HK$25.5 while maintaining a \"Buy\" rating.</p>\n<p>The report highlights that, based on this earnings performance, the company's gross margin expanded more than anticipated, driven by an increased contribution from the high-margin core OTA business. Consequently, CMB International has raised its non-GAAP net profit forecasts for the current and next year by 5%. Supported by resilient travel demand, the institution projects that the company's core OTA business operating profit will grow 15% year-on-year in 2026.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1115378108.SGD","symbol_name":"Eastspring Investments - Global Emerging Markets Dynamic AS SGD","start_time":0,"source_url":"","article_id":"1143558086","we_media_id":"1039043262","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1143558086","pubTimestamp":1774431643,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Deep News","introduction":"Global Stock Market Deep Analysis","home_visible":1,"id":"1039043262","head_image":"https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922"},"summary":"A research report from CMB International states that TONGCHENGTRAVEL (00780) reported fourth-quarter revenue of RMB 4.8 billion, a year-on-year increase of 14.2%, which exceeded expectations....","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1115378108.SGD":"Eastspring Investments - Global Emerging Markets Dynamic AS SGD","SG9999001093.SGD":"United Greater China Fund A Acc SGD","BK1615":"港股-互联网","LU0278937759.USD":"abrdn SICAV I - EMERGING MARKETS SMALLER COMPANIES\"A\" (USD) ACC","SGXZ90724238.SGD":"UNITED ASIA \"A\" (SGD) INC","BK1516":"腾讯概念","SG9999001051.SGD":"United Asia Fund SGD","SG9999001226.SGD":"UNITED SUSTAINABLE ASIA TOP 50 \"A\" (SGD) ACC","LU0640798160.USD":"EASTSPRING INVESTMENTS GLOBAL EMERGING MARKET DYNAMIC \"A\" (USD) ACC","LU2460026573.USD":"abrdn SICAV I -  CHINA NEXT GENERATION \"A\" (USD) ACC","00780":"同程旅行","BK1604":"节假日概念","BK1164":"酒店、度假村与豪华游轮","LU0315179316.USD":"EASTSPRING INVESTMENTS ASIAN DYNAMIC \"A\" (USD) ACC"},"translate_title":"招银国际上调同程旅行目标价至25.5港元预计今年核心业务盈利增长韧性","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00780":1},"content_text":"A research report from CMB International states that TONGCHENGTRAVEL (00780) reported fourth-quarter revenue of RMB 4.8 billion, a year-on-year increase of 14.2%, which exceeded expectations. Adjusted net profit was RMB 780 million, rising 18% year-on-year and also surpassing forecasts. Revenue and operating profit margin from the core online travel agency (OTA) business were in line with the institution's projections. The firm has increased the stock's target price to HK$25.5 while maintaining a \"Buy\" rating.\nThe report highlights that, based on this earnings performance, the company's gross margin expanded more than anticipated, driven by an increased contribution from the high-margin core OTA business. Consequently, CMB International has raised its non-GAAP net profit forecasts for the current and next year by 5%. 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