Changes in Hong Kong stocks | Tongcheng Travel (00780) rose more than 3% at the end of the session, tourism-related prices showed strong performance, and institutions were optimistic that profit margins would continue to rise

The Zhitong Finance App learned that Tongcheng Travel (00780) rose more than 3% at the end of the session. As of press release, it had risen 3.39% to HK$22.6 million, with a turnover of HK$161 million.

According to the news, data from the National Bureau of Statistics shows that in November 2025, the national CPI rose 0.7% year on year, a marked increase over the previous month, and consumer consumption continued to recover. Looking at the structure, service prices rose 0.7% year on year, which is higher than the increase in consumer goods prices, and the characteristics of service consumption restoration are further evident. In this context, tourism-related price performance was relatively dominant. Tour prices rose 2.0% year on year in November, and there was a slight year-on-year increase in January-November, reflecting the fact that demand for cultural tourism is still resilient in supporting prices.

Changjiang Securities released a research report stating that the current competitive pattern of OTA is stabilizing. Tongcheng has been deeply involved in OTA business for a long time, deepening the tourism industry chain, and building a leading moat in terms of user infrastructure, supply chain capabilities, and service efficiency. The current strategy focuses on improving operational efficiency. The company's profitability has entered an upward channel under the optimization of user marketing strategies, refined subsidies, and increased profits from outbound travel. There is still room for improvement in subsequent sales expenses and take-rate, which is expected to support the continued rise in the company's profit margin.