Tuniu Corp Files 20-F Annual Report for Fiscal Year Ended December 31, 2023

Ticker: TOUR · Form: 20-F · Filed: Apr 29, 2024 · CIK: 1597095

Sentiment: neutral

Topics: Tuniu Corp, 20-F, Annual Report, Financials, Travel Industry

TL;DR

<b>Tuniu Corp filed its 20-F annual report, detailing $389.3 million in revenue for FY2023.</b>

AI Summary

Tuniu Corp (TOUR) filed a Foreign Annual Report (20-F) with the SEC on April 29, 2024. Tuniu Corp reported total revenues of $389,331,543 for the fiscal year ended December 31, 2023. Other operating income (expense), net, amounted to $17,373,500 for the fiscal year ended December 31, 2023. The company's fiscal year ends on December 31. Tuniu Corp is incorporated in E9 and its principal executive offices are located in Nanjing, China. The filing is a Form 20-F, submitted as of April 29, 2024.

Why It Matters

For investors and stakeholders tracking Tuniu Corp, this filing contains several important signals. This filing provides a comprehensive overview of Tuniu Corp's financial performance and business operations for the fiscal year 2023, crucial for investors assessing the company's health and future prospects. The 20-F filing is a key document for foreign private issuers like Tuniu Corp, offering insights into their financial statements, risk factors, and corporate governance, which are essential for U.S. investors.

Risk Assessment

Risk Level: low — Tuniu Corp shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 20-F to understand Tuniu Corp's performance and potential challenges.

Key Numbers

Key Players & Entities

FAQ

When did Tuniu Corp file this 20-F?

Tuniu Corp filed this Foreign Annual Report (20-F) with the SEC on April 29, 2024.

What is a 20-F filing?

A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by Tuniu Corp (TOUR).

Where can I read the original 20-F filing from Tuniu Corp?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Tuniu Corp.

What are the key takeaways from Tuniu Corp's 20-F?

Tuniu Corp filed this 20-F on April 29, 2024. Key takeaways: Tuniu Corp reported total revenues of $389,331,543 for the fiscal year ended December 31, 2023.. Other operating income (expense), net, amounted to $17,373,500 for the fiscal year ended December 31, 2023.. The company's fiscal year ends on December 31..

Is Tuniu Corp a risky investment based on this filing?

Based on this 20-F, Tuniu Corp presents a relatively low-risk profile. The filing is a standard annual report (20-F) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

What should investors do after reading Tuniu Corp's 20-F?

Investors should review the detailed financial statements and risk factors within the 20-F to understand Tuniu Corp's performance and potential challenges. The overall sentiment from this filing is neutral.

How does Tuniu Corp compare to its industry peers?

Tuniu Corp operates in the online travel industry, providing a platform for booking travel products and services.

Are there regulatory concerns for Tuniu Corp?

As a foreign private issuer, Tuniu Corp is subject to SEC regulations, including the filing of annual reports on Form 20-F.

Industry Context

Tuniu Corp operates in the online travel industry, providing a platform for booking travel products and services.

Regulatory Implications

As a foreign private issuer, Tuniu Corp is subject to SEC regulations, including the filing of annual reports on Form 20-F.

What Investors Should Do

  1. Analyze the detailed financial statements for revenue breakdown and profitability trends.
  2. Review the risk factors section for any new or evolving business and operational risks.
  3. Compare key financial metrics with previous years to identify performance changes.

Key Dates

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year ended December 31, 2023, providing updated financial and operational data compared to previous filings.

Filing Stats: 4,565 words · 18 min read · ~15 pages · Grade level 14.7 · Accepted 2024-04-29 08:05:14

Key Financial Figures

Filing Documents

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No (APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS) Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes No Table of Contents TABLE OF CONTENTS INTRODUCTION 1 FORWARD-LOOKING INFORMATION 2 PART I 3 Item 1. Identity of Directors, Senior Management and Advisers 3 Item 2. Offer Statistics and Expected Timetable 3 Item 3. Key Information 3 Item 4. Information on the Company 52 Item 4A. Unresolved Staff Comments 85 Item 5. Operating and Financial Review and Prospects 86 Item 6. Directors, Senior Management and Employees 100 Item 7. Major Shareholders and Related Party Transactions 110 Item 8. Financial Information 112 Item 9. The Offer and Listing 113 Item 10. Additional Information 113 Item 11.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 127 Item 12.

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities 128 PART II 130 Item 13. Defaults, Dividend Arrearages and Delinquencies 130 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 130 Item 15.

Controls and Procedures

Controls and Procedures 130 Item 16A. Audit Committee Financial Expert 131 Item 16B. Code of Ethics 131 Item 16C. Principal Accountant Fees and Services 131 Item 16D. Exemptions from the Listing Standards for Audit Committees 131 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 131 Item 16F. Change in Registrant's Certifying Accountant 131 Item 16G. Corporate Governance 132 Item 16H. Mine Safety Disclosure 132 Item 16I . Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 132 Item 16J. Insider trading policies 132 Item 16K. Cybersecurity 132 PART III 133 Item 17.

Financial Statements

Financial Statements 133 Item 18.

Financial Statements

Financial Statements 133 Item 19. Exhibits 134

SIGNATURES

SIGNATURES 137 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F-1 i Table of Contents INTRODUCTION In this annual report, except where the context otherwise requires and for purposes of this annual report only: "ADSs" refer to our American depositary shares, each ADS represents three Class A ordinary shares; "China" or "PRC" refers to the People's Republic of China; "consolidat e d affiliated entities" refers to the VIE and its subsidiaries; "shares" or "ordinary shares" refers to our ordinary shares, which include both Class A ordinary shares and Class B ordinary shares; "U.S. GAAP" refers to generally accepted accounting principles in the United States; "VIE" refers to variable interest entity, and "the VIE" refers to Nanjing Tuniu Technology Co., Ltd., or Nanjing Tuniu; "we," "us," "our company," "our," or "Tuniu" refers to Tuniu Corporation, a Cayman Islands company, its subsidiaries, and, in the context of describing our operations and consolidated financial information, also includes the VIE; "RMB" or "Renminbi" refers to the legal currency of mainland China; "$," "dollars," "US$" or "U.S. dollars" refers to the legal currency of the United States; and all discrepancies in any table between the amounts identified as total amounts and the sum of the amounts listed therein are due to rounding. Our business is primarily conducted in China and almost all of our revenues are denominated in Renminbi. However, periodic reports made to shareholders will include current period amounts translated into U.S. dollars using the then current exchange rates, for the convenience of the readers. We make no representation that any Renminbi or U.S. dollar amounts could have been, or could be, converted into U.S. dollars or Renminbi, as the case may be, at any particular rate, or at all. The PRC government imposes control over its foreign currency reserves in part through direct regulation of the conversion of Renminbi into foreign exchange and through restricti

Identity of Directors, Senior Management and Advisers

Item 1. Identity of Directors, Senior Management and Advisers Not applicable.

Offer Statistics and Expected Timetable

Item 2. Offer Statistics and Expected Timetable Not applicable.

Key Information

Item 3. Key Information Our Holding Company Structure and Contractual Arrangements with the VIE Tuniu Corporation is not an operating company in China but a Cayman Islands holding company with no equity ownership in the VIE. We conduct our business in China through (i) our PRC subsidiaries and (ii) the consolidated affiliated entities with which we have maintained contractual arrangements. PRC laws and regulations restrict and impose conditions on foreign investment in value-added telecommunication services and certain other businesses. Accordingly, we operate these businesses in China through the VIE, and such structure is used to provide investors with exposure to foreign investment in China-based companies where laws and regulations in China prohibit or restrict direct foreign investment in certain operating companies. Revenues contributed by the VIE accounted for 53.6%, 86.5% and 78.2% of our total revenues for the years of 2021, 2022 and 2023, respectively. Holders of our ADSs hold equity interest in Tuniu Corporation, our Cayman Islands holding company, and do not have direct or indirect equity interest in the VIE, and may never directly hold equity interests in the VIE. A series of contractual agreements, including powers of attorney, equity interest pledge agreement, cooperation agreement, purchase option agreement and shareholders' voting rights agreement, have been entered into by and among our wholly owned PRC subsidiary, Beijing Tuniu Technology Co., Ltd., or Beijing Tuniu, the VIE and its shareholders. As a result of the contractual arrangements, we are able to direct the activities of and derive economic benefits from the VIE. We are considered the primary beneficiary of the VIE, and we have consolidated the financial results of the VIE in our consolidated financial statements under U.S. GAAP for accounting purposes. Neither we nor our investors has an equity ownership in, direct foreign investment in, or control through such ownership or investme

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