Tongcheng Travel Holdings Management

Management criteria checks 3/4

Tongcheng Travel Holdings' CEO is Heping Ma, appointed in Apr 2018, has a tenure of 6.08 years. total yearly compensation is CN¥18.01M, comprised of 26.6% salary and 73.4% bonuses, including company stock and options. directly owns 0.42% of the company’s shares, worth HK$196.16M. The average tenure of the management team and the board of directors is 5.8 years and 6.1 years respectively.

Key information

Heping Ma

Chief executive officer

CN¥18.0m

Total compensation

CEO salary percentage	26.6%
CEO tenure	6yrs
CEO ownership	0.4%
Management average tenure	5.8yrs
Board average tenure	6.1yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Heping Ma's remuneration changed compared to Tongcheng Travel Holdings's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	CN¥2b
Sep 30 2023	n/a	n/a	CN¥1b
Jun 30 2023	n/a	n/a	CN¥619m
Mar 31 2023	n/a	n/a	CN¥131m
Dec 31 2022	CN¥18m	CN¥5m	-CN¥146m
Sep 30 2022	n/a	n/a	-CN¥90m
Jun 30 2022	n/a	n/a	CN¥232m
Mar 31 2022	n/a	n/a	CN¥655m
Dec 31 2021	CN¥23m	CN¥5m	CN¥723m
Sep 30 2021	n/a	n/a	CN¥773m
Jun 30 2021	n/a	n/a	CN¥789m
Mar 31 2021	n/a	n/a	CN¥553m
Dec 31 2020	CN¥33m	CN¥5m	CN¥328m
Sep 30 2020	n/a	n/a	CN¥344m
Jun 30 2020	n/a	n/a	CN¥391m
Mar 31 2020	n/a	n/a	CN¥535m
Dec 31 2019	CN¥68m	CN¥5m	CN¥688m
Sep 30 2019	n/a	n/a	CN¥409m
Jun 30 2019	n/a	n/a	CN¥177m
Mar 31 2019	n/a	n/a	-CN¥55m
Dec 31 2018	CN¥68m	CN¥1m	CN¥530m

Compensation vs Market: Heping's total compensation ($USD2.49M) is above average for companies of similar size in the Hong Kong market ($USD924.12K).

Compensation vs Earnings: Heping's compensation has been consistent with company performance over the past year.

CEO

Heping Ma (45 yo)

6yrs

Tenure

CN¥18,013,000

Compensation

Mr. Heping Ma has been the Chief Executive Officer of Tongcheng Travel Holdings Limited (formerly known as Tongcheng-Elong Holdings Limited) since April 2018 and has been its Executive Director since June...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Zhixiang Wu	Executive Co-Chairman	6.1yrs	CN¥7.12m	0.38% CN¥ 177.1m
Heping Ma	CEO & Executive Director	6yrs	CN¥18.01m	0.42% CN¥ 196.2m
Julian Fan	Chief Financial Officer	6.1yrs	no data	no data
Qiang Wang	Chief Operating Officer	3.7yrs	no data	no data
Kylie Yeung	Investor Relations Director	5.2yrs	no data	no data
Jianzhong Xu	Senior Vice President	5.3yrs	no data	no data
Li Ma	Company Secretary	5.9yrs	no data	no data
Joyce Li	Vice President of Capital Market	no data	no data	no data

5.8yrs

Average Tenure

43yo

Average Age

Experienced Management: 780's management team is seasoned and experienced (5.8 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Zhixiang Wu	Executive Co-Chairman	6.1yrs	CN¥7.12m	0.38% CN¥ 177.1m
Heping Ma	CEO & Executive Director	6.1yrs	CN¥18.01m	0.42% CN¥ 196.2m
Jianzhang Liang	Non-Executive Co-Chairman	8.3yrs	no data	0.91% CN¥ 426.7m
Xiaojing Dai	Independent Non-Executive Director	5.4yrs	CN¥164.00k	no data
Hao Jiang	Non-Executive Director	7.9yrs	CN¥1.46m	0.24% CN¥ 114.7m
Chia Hung Yang	Independent Non-Executive Director	1.8yrs	CN¥146.00k	no data
Brent Richard Irvin	Non-Executive Director	6.1yrs	no data	no data
Yuling Han	Independent Non-Executive Director	5.4yrs	CN¥164.00k	no data
Qing Hua Xie	Non-Executive Director	less than a year	no data	no data

6.1yrs

Average Tenure

50yo

Average Age

Experienced Board: 780's board of directors are considered experienced (6.1 years average tenure).

Tongcheng Travel Holdings Management

Management criteria checks 3/4

Key information

Recent management updates

Non-Executive Co-Chairman recently sold HK$8.0m worth of stock

Less than half of directors are independent

Less than half of directors are independent

Executive Co-Chairman recently sold HK$61m worth of stock

Executive Co-Chairman recently sold HK$15m worth of stock

Executive Co-Chairman recently sold HK$30m worth of stock

Recent updates

Full year 2023 earnings released: EPS: CN¥0.69 (vs CN¥0.066 loss in FY 2022)

Non-Executive Co-Chairman recently sold HK$8.0m worth of stock

Tongcheng Travel Holdings Limited Proposes Final Ordinary Dividend for the Year Ended 31 December 2023, Payable on 19 July 2024

Tongcheng Travel Holdings Limited Proposes Final Ordinary Dividend for the Year Ended 31 December 2023, Payable on 19 July 2024

Full year 2023 earnings released: EPS: CN¥0.69 (vs CN¥0.066 loss in FY 2022)

Tongcheng Travel Holdings Limited to Report Fiscal Year 2023 Results on Mar 19, 2024

Third quarter 2023 earnings released

Tongcheng Travel Holdings Limited to Report Q3, 2023 Results on Nov 21, 2023

Second quarter 2023 earnings released: EPS: CN¥0.16 (vs CN¥0.06 loss in 2Q 2022)

Tongcheng Travel Holdings Limited to Report First Half, 2023 Results on Aug 22, 2023

First quarter 2023 earnings released

Tongcheng Travel Holdings Limited to Report Q1, 2023 Results on May 24, 2023

Full year 2022 earnings released: CN¥0.07 loss per share (vs CN¥0.33 profit in FY 2021)

Third quarter 2022 earnings released

Less than half of directors are independent

Tongcheng Travel Holdings Limited to Report Q3, 2022 Results on Nov 22, 2022

Now 20% undervalued after recent price drop

Second quarter 2022 earnings released: CN¥0.06 loss per share (vs CN¥0.13 profit in 2Q 2021)

Tongcheng Travel Holdings Limited Provides Earnings Guidance for the Third Quarter of 2022

Investor sentiment improved over the past week

Tongcheng Travel Holdings Limited Provides Revenue Guidance for the Second Quarter of 2022

Tongcheng Travel Holdings Limited to Report Q1, 2022 Results on May 19, 2022

Full year 2021 earnings released: EPS: CN¥0.33 (vs CN¥0.15 in FY 2020)

Less than half of directors are independent

Investor sentiment deteriorated over the past week

Tongcheng Travel Holdings Limited to Report Fiscal Year 2021 Results on Mar 22, 2022

Investor sentiment improved over the past week

Third quarter 2021 earnings: EPS in line with analyst expectations despite revenue beat

Second quarter 2021 earnings released: EPS CN¥0.13 (vs CN¥0.026 in 2Q 2020)

Joint Company Secretary Suet Wing Leung has left the company

Executive Co-Chairman recently sold HK$61m worth of stock

First quarter 2021 earnings released

Full year 2020 earnings released: EPS CN¥0.15 (vs CN¥0.33 in FY 2019)

Full year 2020 earnings released

Investor sentiment deteriorated over the past week

Tongcheng-Elong Holdings Limited to Report Fiscal Year 2020 Results on Mar 23, 2021

New 90-day high: HK$16.54

Revenue beats expectations

Third quarter 2020 earnings released: EPS CN¥0.12

Tongcheng-Elong Holdings Limited to Report Q3, 2020 Results on Nov 23, 2020

New 90-day low: HK$13.08

Executive Co-Chairman recently sold HK$15m worth of stock

Tongcheng-Elong Holdings Limited Announces Revision of Annual Caps Under the Marketing Services Framework Agreement in Respect of 2020 and 2021

New 90-day low: HK$13.30

Tongcheng-Elong Holdings Limited to Report Q2, 2020 Results on Aug 28, 2020

Executive Co-Chairman recently sold HK$30m worth of stock

First half earnings released

Executive Co-Chairman recently bought HK$23m worth of stock

New 90-day high - HK$15.00

New 90-day high - HK$14.98

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age