SEHK:780Hospitality
Tongcheng Travel (SEHK:780) Stock Looks Cheap But Margins Keep Tightening
Tongcheng Travel Holdings entered this earnings day with a stock that has been drifting. The share price is down about 9% over the past week and roughly 17% over three months, even though the company trades on a trailing P/E of 9.8x, below both its Hong Kong hospitality peers and industry averages. That gap between mood and maths is the real story today.
The headline from this quarter is profit resilience. Tongcheng Travel reported Q2 2026 revenue of about RMB 5.0b and net income of roughly...