Tongcheng Travel sees growth in demand

Tongcheng Travel reported H1 2025 revenue of RMB 9.05 billion, up 11.5% YoY, with adjusted EBITDA rising 35.2% to RMB 2.34 billion. Trip volume reached 1.99 billion, led by users from non-first-tier cities, who now account for 87% of its base. Lodging revenue rose 18.8%, and paid users hit 252 million.