0913 GMT - Tongcheng Travel's 4Q earnings exceeded market expectations, driven by stronger-than-expected tourism revenue, Jefferies analysts write in a note. Its total revenue rose 35% to 4.2 billion yuan, topping market consensus, they add. Its accommodation revenue was also a beat, while transportation revenue was largely in line with consensus, the analysts say. Investors should watch for updates about the recent positive sentiment on China's travel sector and the company's expectations of 2025, they write. The outlook for accommodation volume and pricing in top- and lower-tier cities this year will also be important, they say. Jefferies maintains a buy rating on the stock, which last closed at HK$18.38. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
March 20, 2025 05:13 ET (09:13 GMT)
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