Tuniu Receives Approval to Transfer to Nasdaq Capital Market and Extension of Minimum Bid Price Compliance Period
Transfer of Listing: Tuniu Corporation's American Depositary Shares (ADSs) will be transferred from the Nasdaq Global Market to the Nasdaq Capital Market, effective November 24, 2025, without impacting trading under the symbol "TOUR".
Compliance Period Extension: Following a non-compliance notice regarding the minimum bid price, Nasdaq has granted Tuniu an additional 180 days, until May 18, 2026, to meet the requirement of a closing bid price of at least $1.00 per ADS.
Monitoring Bid Price: Tuniu plans to actively monitor its ADS bid price and explore options, including a potential reverse stock split, to regain compliance with Nasdaq's listing requirements.
Company Overview: Tuniu is a leading online leisure travel company in China, offering a variety of travel services and solutions through its website and mobile platform, supported by a network of customer service representatives and offline retail stores.
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- Earnings Release Schedule: Tuniu Corporation plans to announce its unaudited financial results for the fiscal year ending December 31, 2025, before the market opens on March 5, 2026, reflecting the company's commitment to transparency and investor communication.
- Conference Call Timing: Management will hold an earnings conference call at 8:00 AM U.S. Eastern Time on March 5, 2026, allowing global investors to participate and gain insights into the latest financial information, thereby enhancing interaction between the company and its investors.
- Replay Service Availability: A telephone replay of the conference call will be available one hour after its conclusion until March 12, 2026, ensuring that investors who cannot attend in real-time can access key information, thus improving information accessibility.
- Online Live and Archived Webcast: The company will also provide a live and archived webcast of the conference call on its official website, further broadening information dissemination channels and enhancing investor understanding and trust in the company's operations.
- Earnings Release Plan: Tuniu Corporation plans to announce its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2025, before market opens on March 5, 2026, reflecting the company's commitment to transparency and investor communication.
- Conference Call Arrangement: Management will hold an earnings conference call at 8:00 AM U.S. Eastern Time on March 5, 2026, which is expected to attract significant attention from investors and analysts, thereby enhancing market confidence in the company.
- Replay Service Availability: A telephone replay of the conference call will be available one hour after its conclusion until March 12, 2026, ensuring that investors who cannot participate live can access key information, thus improving information accessibility.
- Online Platform Advantage: Tuniu offers integrated leisure travel solutions through its website and mobile platform, complemented by an offline service network, enhancing customer experience and demonstrating its competitiveness in China's online travel market.

- Investigation Launched: China's State Administration for Market Regulation has initiated an anti-monopoly investigation into Trip.com, focusing on its hotel booking operations, which accounted for 44% of its revenue in Q3, potentially forcing the company to end exclusivity agreements and divest rival investments.
- Market Share Concentration: Trip.com controls over 60% of China's online travel market through a series of acquisitions and investments, maintaining a strong market position despite challenges from Meituan and Alibaba.
- Stock Price Plunge: Following the announcement of the investigation, Trip.com's stock fell 22% over four trading days, wiping out approximately $9 billion in market value, although its share price remains up 54 times since its IPO, indicating investor anxiety about the future.
- Uncertain Future Outlook: The market regulator is expected to impose fines exceeding $1 billion on Trip.com, but the greater concern lies in potential divestitures of key investments, particularly in Tongcheng and Qunar, which could significantly impact its market dominance.
- Revenue Growth: Tuniu's net revenues reached RMB 202.1 million (approximately $28.4 million) in Q3 2025, reflecting an 8.6% year-over-year increase, indicating steady growth momentum in the travel market.
- Packaged Tour Performance: Revenues from packaged tours amounted to RMB 179.0 million (approximately $25.1 million), up 12.4% year-over-year, primarily driven by increased demand for organized and self-guided tours, further solidifying market position.
- Rising Costs Impact Profitability: The cost of revenues was RMB 92.5 million (approximately $13.0 million), a 44.0% year-over-year increase, leading to a 10.0% decline in gross profit to RMB 109.6 million (approximately $15.4 million), which negatively affected overall profitability.
- Future Outlook: The company expects Q4 2025 net revenues to range from RMB 111.0 million to RMB 116.1 million, representing an 8% to 13% year-over-year increase, reflecting an optimistic outlook on industry trends.
Transfer Approval: Tuniu has received approval to transfer its American Depositary Shares from the Nasdaq Global Market to the Nasdaq Capital Market, effective November 24, 2025.
Compliance Extension: Nasdaq has granted Tuniu an additional 180 days, until May 18, 2026, to regain compliance with the minimum bid price requirement for continued listing.
Non-Compliance Notification: On May 19, 2025, Tuniu was notified by Nasdaq that it was not in compliance with Listing Rule 5450(a)(1) due to its ADS closing bid price being below $1.00 for 30 consecutive business days.
Financial Overview: Tuniu operates at breakeven, but its stock price reflects most negative factors, as indicated by Seeking Alpha’s Quant Rating and historical earnings data.

Transfer of Listing: Tuniu Corporation's American Depositary Shares (ADSs) will be transferred from the Nasdaq Global Market to the Nasdaq Capital Market, effective November 24, 2025, without impacting trading under the symbol "TOUR".
Compliance Period Extension: Following a non-compliance notice regarding the minimum bid price, Nasdaq has granted Tuniu an additional 180 days, until May 18, 2026, to meet the requirement of a closing bid price of at least $1.00 per ADS.
Monitoring Bid Price: Tuniu plans to actively monitor its ADS bid price and explore options, including a potential reverse stock split, to regain compliance with Nasdaq's listing requirements.
Company Overview: Tuniu is a leading online leisure travel company in China, offering a variety of travel services and solutions through its website and mobile platform, supported by a network of customer service representatives and offline retail stores.






