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Tongcheng Travel Announces 2022 Interim Results

Maintains Resilience Against Headwinds

HONG KONG SAR – Media OutReach – 22 August 2022 – Tongcheng Travel Holdings Limited (“Tongcheng Travel” or the “Company”, together with its subsidiaries the “Group”, stock code: 0780.HK), an innovator and leader in China’s online travel industry, today announced its unaudited consolidated results for the three months (“2022 Q2”) and the six months ended 30 June 2022 (the “period under review” or “2022 1H”). In the face of unprecedented disruptions and escalating pressure on the travel industry brought about by the COVID-19 spike across the nation, the Group remained resilient, maintained profitability, and outperformed the industry.

Operational highlights for 2022 Q2:

  • Increased market penetration – accelerated the penetration in lower-tier cities, with approximately 87.1% of registered users from non-first-tier cities. New paying users on Weixin platform from tier-3 or below cities increased by 2.4 percentage points from 59.3% to 61.7% when compared to the same period in 2021.
  • Effective user acquisition initiatives – number of paying users (“APUs”) for the 12 months ended 30 June 2022 rose by 8.0% year-to-year to 197 million.
  • Broadened business coverage – achieved rapid year-to-year growth in the bus ticketing business and delivered solid performance in the hotel business.
  • Increased internal efficiency and optimized organizational structure – implemented cost control measures and flexibly adjusted marketing strategies in response to the market changes.

In 2022 Q2, the Group’s total revenue amounted to RMB1,319 million. With effective cost control measures and flexible operating strategies, the Group recorded an adjusted net profit of RMB112.0 million. Adjusted net margin stood at 8.5%. Number of average monthly active users (“MAUs”) and number of average monthly paying users (“MPUs”) amounted to 198 million and 26.1 million, respectively.

In 2022 1H, the Group recorded a total revenue of RMB3,037 million and an adjusted net profit of RMB357.0 million. The adjusted net margin was 11.8%. MAUs and MPUs amounted to 221.2 million and 28.9 million, respectively.

Mr. Ma Heping, Executive Director and CEO of Tongcheng Travel, said, “The travel industry was under intense pressure in 2022 Q2 due to the resurgence of COVID cases. We have swiftly adjusted our business strategies, further extended our reach to lower-tier cities and underpenetrated markets. We also strengthened our cost control and optimized organizational structure to achieve higher operating efficiencies, paving the way to capture future growth associated with travel demand rebound. Looking ahead, while we expect the market to remain volatile in the near term, we are seeing signs of gradual recovery and are positive about the industry outlook. It is expected that the market growth will be driven by local and short-haul leisure travels, as well as the increase in the number of business trips. Building on our solid market foothold, we are confident about the industry prospects and development outlook of the Company.”

Explored Diversified Service Applications to Enhance Brand Awareness and User Engagement

During the period under review, Tongcheng Travel continued to diversify its service scenarios. Through its Weixin mini program and deepened collaboration with Tencent, Tongcheng Travel maintained stable and effective traffic channels. To reach out to the younger generation, Tongcheng Travel launched a series of e-Sports events in several cities using popular IP rights entitled by Tencent. It also teamed up with Hengdian World Studios and KuGou to organize the Water Music Festival. These initiatives effectively increased the Company’s brand exposure among the younger generation.

In addition, Tongcheng Travel integrated online and offline channels to diversify traffic sources. The Company optimized its App interface and enriched tourism-related content to add value and provide better user experiences, and continued to cooperate with China’s major handset vendors and provided users with one-stop products and services through its quick Apps on mobile devices. It also worked with location-based Apps to expand user acquisition channels. It also embarked on new marketing campaigns. For the first time it marketed its membership program through a popular TV drama on Tencent Video platform. Furthermore, the Company cooperated with the Jiangxi Provincial Department of Culture and Tourism to launch marketing activities that targeted university students.

Consolidated Online and Offline Resources to Tap into Underpenetrated Lower-tier Cities

The Company continued to pursue offline user acquisition to attract users from underpenetrated lower-tier city markets. During the period under review, it launched various effective user acquisition initiatives, such as adding QR code scanning functions at hotels and tourist attractions to direct users to book through its mini-program, and establishing strategic cooperation with urban and rural bus operators to increase nationwide transportation business coverage. In 2022 Q2, Tongcheng Travel’s bus ticketing business achieved rapid year-to-year growth. As of 30 June 2022, the number of registered users residing in non-first-tier cities in China accounted for approximately 87.1% of the total registered users.

Pursued Technology Advancement and Promoted Digitalization of the Industry

Tongcheng Travel continued to develop and apply innovative technology to transform from online travel agency (“OTA”) to intelligent travel assistant (“ITA”). The Company further optimized and utilized the Huixing system to provide intelligent travel solutions, and promoted the digitalization of the travel industry by leveraging its technological innovation and deepened cooperation with upstream suppliers. It also started to cooperate with more airport operators to improve their operational efficiencies. In 2022 Q2, the Company cooperated with Urumqi Airport in Xinjiang and helped the airport develop a mini-program to facilitate passenger flight transit. In addition, it also contributed to the digitalization of the bus ticketing industry through implementing the bus ticketing system and expanding the coverage of smart ticketing equipment nationwide. Tongcheng Travel’s property management system (“PMS”) brands, Zhuzhe, Jintiane, and Yunzhanggui continued to provide the PMS system and technical services to domestic individual hotels and small- and medium-sized hotel operators to help them reduce costs and increase efficiency.

Committed to Corporate Social Responsibility

Tongcheng Travel is committed to positively influencing society and proactively participating in social activities. It has implemented various measures to provide support to its partners. During the period under review, the Company initiated an empowerment program to provide wide-ranging free online professional courses for tourism professionals, in order to help them overcome the difficulties caused by the COVID-19 pandemic and the uncertain market situation. In the summer of 2022, Tongcheng Travel, in conjunction with over 100 domestic hotels, launched a charitable campaign called “Tongcheng Service Point” (同程小站), converting hotel lobbies into the service points to provide resting spaces for outdoor workers in hot weather, thereby facilitating more hotels to integrate into the community.

Going forward, the Company will continue to innovate and enhance its products and services, and seek investment opportunities that align with its core strategies to drive business growth. Concurrently, it will put more effort into corporate governance, environmental protection, and social responsibility to generate long-term sustainable value for stakeholders and the communities it serves.

Hashtag: #TongchengTravel

The issuer is solely responsible for the content of this announcement.

About Tongcheng Travel Holdings Limited (HKSE Stock Code: 0780.HK)

Tongcheng Travel (formerly known as Tongcheng-Elong) is an innovator and market leader in China’s online travel industry. It was formed out of the merger of Tongcheng and eLong, the leading online travel agencies in China, in 2018. It is a one-stop shop for users’ travel needs. With the mission “make travel easier and more joyful”, Tongcheng Travel offers a comprehensive and innovative selection of products and services covering nearly all aspects of travel, including transportation ticketing, accommodation reservation, tourist attraction ticketing, and various ancillary value-added travel products and services designed to meet users’ evolving travel needs throughout their trips primarily through its online platforms, which comprise its Tencent-based platforms, its proprietary mobile apps, quick apps and other channels.

As a technology-driven company, Tongcheng Travel leverages big data and AI capabilities to better understand the preferences and behaviors of users, thereby offering users customized products and services. Tongcheng Travel has a strategic focus on lower-tier cities in China and seized opportunities there supported by its and diversified traffic sources, product innovation capability and flexible operation strategies. Through the in-depth understanding of user experience and advanced technological capabilities, Tongcheng Travel has been revolutionizing what consumers expect from the online travel industry, making the entire travel process more convenient, personalized and enjoyable than ever. Tongcheng Travel aims to develop and apply its advanced technology to transform from an online travel agency to intelligent travel assistant.

For more information, please visit the Group’s website at

Milan Mayoral Advisor Visits Vientiane Mayor to Discuss City Development

The Milan Mayoral Adviser, Mr. Filippo Gavazzeni, visits the mayor of Vientiane Capital, Mr. Atsaphangthong Siphandone.

A Mayoral Advisor from the Mayor of Milan’s office paid a courtesy visit to Vientiane’s mayor on Friday to discuss urban development and food systems in Laos.

Charging for 160KM in just 10 minutes!

Loca accelerates the installation of EV fast charging Stations from Vang Vieng to Pakse.

Lao Airlines to be Restructured Under New Committee

Lao Airlines

Laos has appointed a new committee set to reform the country’s troubled national airline.

Chinese Estates Holdings invests largest Asian-owned commercial development approved by the City of London, UK in the last few years

120 Fleet Street’s redevelopment and revitalization works underway

Evergo Tower to let at anticipated annual rent up to £100 per sqf

Daily Express Building to feature as ultra premium art and cultural hub showcasing Joseph Lau’s selected private collection

HONG KONG SAR & LONDON, UK – Media OutReach – 22 August 2022 – Chinese Estates Holdings Limited (the “Group”, Hong Kong stock code: 127), a listed company in Hong Kong, China, is pleased to announce that the redevelopment and revitalization of its flagship project, 120 Fleet Street in the United Kingdom (UK) has officially started. Through the project, the Group strives to achieve exceptionally high standard of environmental sustainability and develop a business platform with art and commence thriving in unison.

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Located in the central business district of London, UK, 120 Fleet Street consists of the commercial building River Court and the historical Daily Express Building. The Group will invest an estimated £429 million in the project, for what is the largest Asian-owned commercial development approved by the City of London in the last few years as revealed by market data.

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River Court will be redeveloped into a 21-storey high rise and renamed as Evergo Tower, offering approximately 540,800 square feet of office space and approximately 18,600 square feet of retail space. The new name commemorates the renowned merger of the Group and Evergo Holdings Company Limited. Demolition works of River Court officially started on 18 August 2022 and is expected to be completed in the early second quarter of 2023. The new Evergo Tower is scheduled to be opened in the first half of 2026, which must be as eye-catching as the listing of Evergo Holdings Company Limited in Hong Kong, China 39 years ago.

The Group has already appointed trusted international leasing agents for Evergo Tower, targeting top-tier international financial corporations and alike. Annual rent is anticipated to be approximately £80 to £100 per square feet (equivalent to 1.78 to 2.22 fold of rent before the property redevelopment), thereby generating an annual rental income of approximately £44 million to £55 million (equivalent to 2.51 to 3.14 fold of income before the property redevelopment).

Personally orchestrated by the Group’s CEO, Ms. Chan Hoi Wan (Ms. Chan), the Daily Express Building, a Grade II* listed iconic Art Deco building, will be revitalized and become an ultra premium art and cultural hub. Ms. Chan joined the Group in 2002 and has since worked under the tutelage of Mr. Joseph Lau (Mr. Lau), the former Chairman and CEO of the Group, for over 20 years. Mr. Lau is renowned for his remarkable success and wizardary victories in securities and capital markets, and one of the top art collectors in Asia. Following the footsteps of Mr. Lau, Ms. Chan has also become an astute and savvy investor as well as art connoisseur. She plans to revitalize the Daily Express Building for the betterment of cultural development, particularly supporting emerging artists, through hosting various exhibitions, performances, seminars and workshops in collaboration with famous art museums, auction houses, art galleries, dancing and music schools.

The very first “Joseph Lau Art Gallery” is also set to open at the Daily Express Building, to showcase the Laus’s handpicked private collection. Mr. Lau has been an art collector since the age of 27. Over the years, he acquired a vast collection of art of all genres, including Chinese porcelain, Chinese antique furniture, Chinese contemporary paintings and calligraphy, western classical oil paintings and western contemporary art. Well-known pieces include “Mao” by Andy Warhol and “Everything Must Go” by Jean-Michel Basquiat to name a few. Mr. Lau’s prestigious collection has all been gifted to Ms. Chan after their marriage, while Mr. Lau focuses on his philanthropic ventures.

“Everything Must Go”, potentially to be displayed at Joseph Lau Art Gallery, is said to be Mr. Lau’s favorite piece. He was instantly attracted by this painting at an auction as soon as he saw the words “Everything Must Go” featuring so prominently on it, which coincidentally resembles the name of Evergo Holdings Company Limited founded by him. This special art piece has always been kept in Mr. Lau’s personal office in Hong Kong, China, and has never been displayed publicly. During that time, its appraised value has increased over 1000 fold.

The design of 120 Fleet Street redevelopment strives for exceptionally high environmental standards right from the project’s inception. To achieve the ultimate goal of being carbon neutral, over half (52%) of the existing building’s concrete structure is retained by reusing most of the existing foundation and basement retaining walls. The carbon emissions of the new Grade-A commercial development will only be around 25% of the office building it replaces, with reduced energy consumption targeted at 46 kilowatts per square meter per year. The conservation of energy and power will be improved by more than 19% over the latest requirements in the UK for commercial buildings (Part L of the Building Regulations 2010). Furthermore, an extensive 35,500 square feet of lush landscape along the south-facing office floor terraces will transform the external envelope of Evergo Tower to a green oasis in the middle of its urban neighborhood.

Targeting to meet the high demands of international top-tier commercial occupiers, the property will seek to achieve the highest certifications of major international ratings, including BREEAM (Outstanding), WELL (Platinum), NABERS (5-Star) , and WiredScore (Platinum).

Ms. Chan said “Taking advantage of this opportunity to redevelop and revitalize 120 Fleet Street, we hope our novel attempt of integrating art into a commercial project could be mutually beneficial and allow all stakeholders to flourish. Also, thanks to Mr. Lau’s past collection of masterpieces from around the world, we now have the opportunity to showcase the impressive pieces to the public, making 120 Fleet Street the new millennium landmark of art and cultural for all to enjoy.”

Besides 120 Fleet Street, the Group also holds three other prime investment properties in the heart of London, including 61-67 Oxford Street, 14 St George Street (right next to the LVMH House in London) and 11-12 St James’s Square. The Lau family leaded by Mr. Joseph Lau has been recognized as having a keen eye for topnotch investment opportunities.

Hashtag: #ChineseEstatesHoldings

Spend Less and Live More with Traveloka’s Super Staycations!

Enjoy sought-after staycations & flexible features with up to 30% OFF Hotels, Attractions and more with Traveloka Super Staycations!

SINGAPORE – Media OutReach – 22 August 2022 – Ready for the thrill of travelling but rising travel costs are putting you off? Looking for value deals to create unique memories with your loved ones or craving to satisfy the urge for some me time? Traveloka, Southeast Asia’s leading travel and lifestyle platform has the solution for you, with Traveloka Super Staycations!

Traveloka-Super-Staycations.jpg

From now to 30 September, visit Super Staycations and discover unmatched deals for your favourite and idyllic staycations in Singapore. Enjoy up to 30% OFF hotels, attractions and more on the Super Staycations page for your solo, couple, or family’s dream getaway.

Users can also enjoy Easy Reschedule on all hotels and attractions booked via Super Staycations on Traveloka’s one-stop easy-to-use platform. We understand that travel plans may change for various reasons. If something comes up and you need to shift your booking, don’t worry. Simply use Easy Reschedule, which is easy, fast, and importantly, worry-free – as travel should be!

A worry-free holiday also means staying in a hotel that has a high hygiene standard. Traveloka’s CleanAccommodation helps you identify international accommodations that follow hygiene protocols recommended by their governments and World Health Organization, with a CleanAccommodation badge, to ensure you have the most comfortable stay.

Users can also enjoy giveaways as part of the Traveloka Super Staycations! launch.

    1. Followers of Traveloka’s social media pages stand a chance to win staycation giveaways. So do remember to follow us and keep a look out for them!
    2. We have also partnered with key influencers who will be sharing coupons with their followers to take advantage of the unique deals on Traveloka Super Staycation!
    3. Mothers always deserve a reward and at Traveloka, we will be hosting special getaway deals on Traveloka Mom Squad on Facebook. With Traveloka Mom Squad, we bring you the curated travel and lifestyle experiences, that moms can rely on and seek inspiration from, to have fun quality time with their kids. Be delighted with exclusive deals and exciting giveaways for your next family getaway!

With all these valued added benefits, there is no better time than now to refresh yourself, rekindle relationships and build everlasting memories with a staycation that does not break the bank.

“Travel has undergone significant transformation with the pandemic. There is now a different perspective of how, where and why we choose to travel. Staycations continue to be popular as locals look for an ‘escape’ without leaving the comfort and security of our own countries. Hotels are an experience unto itself; tapping on celebrity chefs, amenities, attractions and events that speak to the locals. Add on rising travel costs and careful spending due to uncertainty in the global and economic situations, one can see why staycations remain a popular option for a vacation away from home,” said Pascal Gekko, VP of International Accommodation, Traveloka.

Mr Gekko added, “As a travel and lifestyle platform, we understand the needs of travellers and are always focused on providing the best value with our products and services. Traveloka will continue to work with our partners and other industry players to ensure we meet the evolving needs of consumers in a post pandemic world, for flight and hotel booking services, alongside other complementary local and financial services.”

For Traveloka’s full list of promotions, head over here to find out more.Hashtag: #Traveloka

About Traveloka

Traveloka, Southeast Asia’s travel and lifestyle platform, provides users access to discover and purchase a wide range of travel, local services, and financial services products. Traveloka’s comprehensive product portfolio includes transport booking services such as flight tickets, bus, trains, car rental, airport transfer, as well as access to the largest accommodation inventory in Southeast Asia, including hotels, apartments, guest houses, homestays, resorts, and villas, making Traveloka a booking platform with the widest selection of accommodation and packages.

Traveloka is also a key player in the local services category (currently specific to certain markets), offering reservations for a wide range of local attractions, activities, wellness and beauty clinics, culinary directories as well as food delivery. Traveloka also offers financing, payment, and insurance products to help Southeast Asian consumers fulfill their lifestyle aspirations. Traveloka provides 24/7 customer service in local languages as well as more than 30 different local payment methods. Traveloka lifestyle superapp has been downloaded more than 100 million times, making it the most popular travel and lifestyle booking application in the Southeast Asian region.

For more information, please visit:

LAK 20 Billion To Address Flooding in Vientiane Capital

Motorists struggle to drive through floodwater in Xaythany District (Photo: Teng).

The Department of Public Works and Transport expects to budget nearly LAK 20 billion to address both temporary and long-term flooding on major roads throughout Vientiane Capital. 

Terraoil Prepares New Corporate Structure

New Structure to Provide Benefits to All Shareholders

STEINHAUSEN, SWITZERLAND – EQS Newswire – 22 August 2022 – Terraoil Swiss AG, an energy company with a strong focus on the Mediterranean is pleased to announce that preparations for a new holding structure have commenced which is expected to provide equal benefits to all shareholders.

After successfully receiving the ruling from the Swiss tax authorities, to support the transaction for all shareholders, as well the engagement of auditors in Liechtenstein we are happy to announce the completion of the first step. The new structure involves the establishment of a new holding company (Topco) in which all shareholders will be provided the opportunity to exchange their shares in Terraoil Swiss AG (TOS) for shares in Topco.

Upon successful completion of the share exchange the shareholders of TOS will become shareholders of Topco and it is the objective that Topco will finally own 100% of the shares in TOS. Shareholders will have the same ownership percentage in Topco as they held in TOS. The restructuring involves no transfer of assets into or out of TOS and TOS will remain the owner of the Petroleum Agreement for the Visoka field in Albania. Shareholders will be provided with further details about the next steps in due time.

Chief Executive Officer, Peter Krempin commented:

“We have been preparing the Company for the international financial markets since 2018. Macroeconomic factors delayed our plans but not our planning. We have now proceeded with the establishment of our new top holding company in Liechtenstein, a neighbouring country with financial markets embedded in the European Economic Area (EEA). The new structure will provide benefits to Swiss and international investors which we believe will assist the Company in realizing its financial and operational objectives.”

If you are an Terraoil shareholder and would like additional information, contact Peter Krempin either via email investors@terraoil.swiss or by telephone at +41 71 544 01 20.

Hashtag: #Terraoil

About Terraoil Swiss AG

Terraoil is an international energy company with a focus to identify and rapidly advance business opportunities in the upstream oil and gas and renewable energy sectors in the Mediterranean region.


Terraoil forward-looking statements

This media release serves informational purposes and constitutes neither an offer to sell nor a solicitation or an advertisement to buy any shares of Terraoil Swiss AG in any jurisdiction. This media release does not constitute a prospectus within the meaning of Article 35 et seqq. of the Swiss Federal Act on Financial Services. In addition, investors should seek advice from their bank or their financial adviser. This media release and the information contained therein are not being issued for the purpose of selling shares in the United States of America, Australia, Canada, Japan, the United Kingdom, or the European Economic Area and must not be distributed within or to such countries or via publications with a general circulation in such countries.

This media release contains forward-looking statements such as projections, forecasts, and estimates. Such forward-looking statements are subject to certain risks and uncertainties which may cause actual results, performance, or events to differ materially from those anticipated in this media release. Readers should therefore not rely on these forward-looking statements. The forward-looking statements contained in this media release are based on the views and assumptions of Terraoil Swiss AG as of this date and Terraoil Swiss AG does not assume any obligation to update or revise this media release.