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<Research>CMBI Lifts TONGCHENGTRAVEL's TP to HKD25.5, Predicts Resilient Core Biz Earnings Growth This Yr
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TONGCHENGTRAVEL (00780.HK)'s 4Q25 revenue surged by 14.2% YoY to RMB4.8 billion, above expectations, according to CMBI's research report. The adjusted net profit also beat forecasts with a YoY growth of 18% to RMB780 million, while the revenue and operating profit margin of the core online travel agency (OTA) business met CMBI's expectations. Supported by resilient travel demand, CMBI expects TONGCHENGTRAVEL's core OTA business operating profit to grow by 15% YoY in 2026. TONGCHENGTRAVEL's target price increased to HKD25.5, with a rating remaining as Buy. AAStocks Financial News |
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