Tongcheng Travel's Margins Could Continue to Expand -- Market Talk

Dow Jones

Nov 26, 2025

0250 GMT - Tongcheng Travel's margin expansion is poised to continue, say DBS Group Research analysts in a note. The Chinese online travel agency posted solid 3Q results, the analysts say, based on the company's statement that its hotel average daily rate outperformed the industry. The analysts expect Tongcheng's higher mix in the mass-market hotel segment to drive higher-than-industry revenue growth. Margins could continue to improve as the company enhances its operational efficiency through integrating generative artificial intelligence into its customer service and incorporating an AI tool into internal workflows, they add. Profit gains in its new businesses such as outbound travel and hotel management could also support margins. DBS maintains its buy rating on the stock and keeps its target price at HK$26.50. Shares fall 0.7% to HK$21.46. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

November 25, 2025 21:50 ET (02:50 GMT)

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The Chinese online travel agency posted solid 3Q results, the analysts say, based on the company's statement that its hotel average daily rate outperformed the industry. The analysts expect Tongcheng's higher mix in the mass-market hotel segment to drive higher-than-industry revenue growth. Margins could continue to improve as the company enhances its operational efficiency through integrating generative artificial intelligence into its customer service and incorporating an AI tool into internal workflows, they add. Profit gains in its new businesses such as outbound travel and hotel management could also support margins. DBS maintains its buy rating on the stock and keeps its target price at HK$26.50. Shares fall 0.7% to HK$21.46. (megan.cheah@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 25, 2025 21:50 ET (02:50 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","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>Tongcheng Travel's Margins Could Continue to Expand -- Market Talk</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\">\nTongcheng Travel's Margins Could Continue to Expand -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-11-26 10:50</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0250 GMT - <a href=\"https://laohu8.com/S/TNGCF\">Tongcheng Travel</a>'s margin expansion is poised to continue, say DBS Group Research analysts in a note. The Chinese online travel agency posted solid 3Q results, the analysts say, based on the company's statement that its hotel average daily rate outperformed the industry. The analysts expect Tongcheng's higher mix in the mass-market hotel segment to drive higher-than-industry revenue growth. Margins could continue to improve as the company enhances its operational efficiency through integrating generative artificial intelligence into its customer service and incorporating an AI tool into internal workflows, they add. Profit gains in its new businesses such as outbound travel and hotel management could also support margins. DBS maintains its buy rating on the stock and keeps its target price at HK$26.50. Shares fall 0.7% to HK$21.46. (megan.cheah@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 25, 2025 21:50 ET (02:50 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999002406.SGD","symbol_name":"利安新加坡信托基金","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2586281117","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2586281117","pubTimestamp":1764125400,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0250 GMT - Tongcheng Travel's margin expansion is poised to continue, say DBS Group Research analysts in a note. The Chinese online travel agency posted solid 3Q results, the analysts say, based on the company's statement that its hotel average daily rate outperformed the industry. The analysts expect Tongcheng's higher mix in the mass-market hotel segment to drive higher-than-industry revenue growth. Margins could continue to improve as the company enhances its operational efficiency through integrating generative artificial intelligence into its customer service and incorporating an AI tool into internal workflows, they add. Profit gains in its new businesses such as outbound travel and hotel management could also support margins. DBS maintains its buy rating on the stock and keeps its target price at HK$26.50. Shares fall 0.7% to HK$21.46. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SG9999002406.SGD":"利安新加坡信托基金","LU0210637038.USD":"HSBC GIF THAI EQUITY \"AD\" INC","LU0878005551.USD":"UBS (LUX) KEY SELEC ASIA ALLOCATION OPPORTUNITY (USD) \"P\" (USD) ACC","LU1956131251.USD":"BNP PARIBAS SUSTAINABLE ASIA EX-JAPAN EQUITY \"C\"MD (USD) INC","LU0878004406.USD":"UBS (LUX) KEY SELEC ASIA ALLOCATION OPPORTUNITY (USD) \"P\" (USD) INC","LU0577902371.SGD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (SGD) ACC","LU2506951958.HKD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (HKDHDG) INC","LU0261945553.USD":"FIDELITY ASEAN \"A\" ACC","SG9999002562.SGD":"LionGlobal Asia Pacific SGD","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","LU0882747503.HKD":"UBS (LUX) KEY SELEC ASIA ALLOCATION OPPORTUNITY (USD) \"P\" (HKD) INC","LU0557290698.USD":"施罗德环球可持续增长基金","LU0048597586.USD":"富达亚洲焦点A","LU0205439572.USD":"富达亚太股息基金","SG9999001051.SGD":"United Asia Fund SGD","LU1497733557.USD":"EASTSPRING INV ASIAN LOW VOLATILITY EQUITY FUND \"A\" (USD) INC A","LU0823413587.USD":"BNP PARIBAS EMERGING EQUITY \"C\" (USD) ACC","LU1634259391.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund AS SGD","LU1130305938.SGD":"Schroder ISF Asian Dividend Maximiser A Dis SGD-H","LU0128522157.USD":"TEMPLETON ASIAN GROWTH \"A\" ACC","SG9999001903.USD":"Aberdeen Standard Pacific Equity USD","LU0588545490.SGD":"Eastspring Investments - Asian Equity Income AS SGD","LU0823417653.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"C\" (USD) ACC","LU0831093199.SGD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AM3\" (SGDHDG) INC","LU0048573645.USD":"富达东盟基金","LU2506952097.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (USDHDG) ACC","SG9999013353.USD":"SCHRODER ASIAN INCOME FUND\"A\" (USDHDG) INC","LU0865486749.SGD":"Eastspring Investments - Asian Equity Income AS SGD-H","BK1615":"港股-互联网","LU0648948544.HKD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AM\" (HKD) INC","LU0084288322.USD":"Natixis Asia Equity RD USD","IE00BKZH1Z71.USD":"BNY MELLON ASIAN INCOME \"B\" (USD) ACC","BK1516":"腾讯概念","LU0823397285.USD":"BNP PARIBAS SUSTAINABLE ASIA EX-JAPAN EQUITY \"C\" (USD) INC","00780":"同程旅行","SG9999002679.SGD":"LionGlobal Singapore Balanced SGD","LU0315178854.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"A\" ACC","SG9999003800.SGD":"Nikko AM Global Dividend Equity Acc SGD-H","LU0577902298.EUR":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (EUR) ACC","LU2460026573.USD":"abrdn SICAV I -  CHINA NEXT GENERATION \"A\" (USD) ACC","LU0251144936.SGD":"Fidelity Sustainable Asia Equity A-SGD","RJAW.SI":"DBS MB ePW240902","SG9999013486.USD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (USD) INC A","LU0326948709.USD":"SCHRODER ISF ASIAN TOTAL RETURN \"A\" (USD) ACC","LU0955669360.SGD":"Schroder ISF Asian Dividend Maximiser A Dis SGD","LU2506951875.HKD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (HKDHDG) ACC","LU0188438112.USD":"SCHRODER ISF ASIAN EQUITY YIELD \"A\" ACC","SG9999008742.SGD":"Eastspring Investments Unit Trusts - Singapore ASEAN Equity SGD","LU0577902611.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"A\" (USD) ACC"},"translate_title":"同程旅行的利润率可能会继续扩大——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00780":0.9,"RJAW.SI":0.7},"content_text":"0250 GMT - Tongcheng Travel's margin expansion is poised to continue, say DBS Group Research analysts in a note. The Chinese online travel agency posted solid 3Q results, the analysts say, based on the company's statement that its hotel average daily rate outperformed the industry. The analysts expect Tongcheng's higher mix in the mass-market hotel segment to drive higher-than-industry revenue growth. Margins could continue to improve as the company enhances its operational efficiency through integrating generative artificial intelligence into its customer service and incorporating an AI tool into internal workflows, they add. Profit gains in its new businesses such as outbound travel and hotel management could also support margins. DBS maintains its buy rating on the stock and keeps its target price at HK$26.50. Shares fall 0.7% to HK$21.46. (megan.cheah@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 25, 2025 21:50 ET (02:50 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}