Tuniu Corporation (TOUR) Balance Sheet

NASDAQ: TOURAssets, liabilities, debt and equity over 10 years.

TOUR balance sheet, 2025

December 31, 2025 · Chinese yuan

CN¥1.60B assets = CN¥642.3M liabilities + CN¥958.7M equity

Both columns are drawn to the same scale: what TOUR owns equals what it owes plus shareholders’ equity. Hover a block for its value.

TOUR financial health

Current ratio2.04

Comfortable · current assets cover current liabilities 2.04×

Debt / equity0.11

Low leverage · CN¥0.11 of debt for each $1 of equity

Equity / assets64.4%

Equity-funded · of assets funded by shareholders

Cash / debt961.9%

Cash covers debt · cash & short-term investments vs total debt

Goodwill & intangibles2.5%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

TOUR balance sheet trends, 2016–2025

Tuniu Corporation balance sheet trends
Metric	Then	Latest	Change
Total assets	CN¥9.16B2016	CN¥1.60B2025	−17.6%/yr
Total liabilities	CN¥4.58B2016	CN¥642.3M2025	−19.6%/yr
Shareholders’ equity	CN¥4.48B2016	CN¥1.03B2025	−15.1%/yr
Cash & short-term investments	CN¥5.14B2016	CN¥1.07B2025	−16.0%/yr
Total debt	CN¥11.0M2016	CN¥111.4M2025	+29.3%/yr
Net cash (debt)	CN¥5.13B2016	CN¥960.4M2025	−CN¥4.2B
Working capital	CN¥2.98B2016	CN¥660.9M2025	−CN¥2.3B
Current ratio	1.662016	2.042025	+0.38
Debt / equity	0.002016	0.112025	+0.11
Shares outstanding	12.4M2016	3.8M2025	−12.3%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

TOUR assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

TOUR liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

TOUR debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

TOUR balance sheet in Chinese yuan

Tuniu Corporation annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	CN¥1.07B	CN¥897.8M	CN¥1.16B	CN¥878.2M	CN¥965.0M	CN¥1.57B	CN¥1.60B	CN¥1.42B	CN¥3.60B	CN¥5.14B
Cash & equivalents	CN¥217.6M	CN¥465.0M	CN¥379.0M	CN¥153.8M	CN¥349.1M	CN¥213.5M	CN¥295.5M	CN¥560.4M	CN¥484.1M	CN¥1.09B
Short-term investments	CN¥854.2M	CN¥432.8M	CN¥777.9M	CN¥724.4M	CN¥615.9M	CN¥1.35B	CN¥1.31B	CN¥859.2M	CN¥3.12B	CN¥4.05B
Receivables	CN¥110.4M	CN¥116.5M	CN¥51.1M	CN¥34.7M	CN¥126.9M	CN¥288.0M	CN¥800.0M	CN¥1.37B	CN¥538.7M	CN¥626.0M
Inventory	CN¥0	CN¥0	CN¥208.5M	CN¥44.1M	CN¥122.6M	CN¥50.6M	CN¥327.1M	CN¥270.7M	CN¥91.8M	CN¥124.6M
Other current assets	CN¥115.4M	CN¥189.1M	CN¥91.6M	CN¥243.0M	CN¥261.0M	CN¥378.7M	CN¥1.10B	CN¥1.35B	CN¥858.7M	CN¥1.62B
Total current assets	CN¥1.30B	CN¥1.20B	CN¥1.51B	CN¥1.20B	CN¥1.48B	CN¥2.28B	CN¥3.82B	CN¥4.41B	CN¥5.09B	CN¥7.51B
Property, plant & equipment (net)	CN¥25.7M	CN¥42.1M	CN¥70.0M	CN¥118.4M	CN¥146.3M	CN¥154.0M	CN¥329.2M	CN¥187.4M	CN¥148.3M	CN¥177.8M
Goodwill & intangible assets	CN¥39.3M	CN¥110.7M	CN¥116.6M	CN¥237.9M	CN¥382.0M	CN¥400.1M	CN¥497.0M	CN¥578.1M	CN¥608.3M	CN¥739.9M
Long-term investments	CN¥227.0M	CN¥534.0M	CN¥209.8M	CN¥230.6M	CN¥201.9M	CN¥266.9M	CN¥1.31B	CN¥1.30B	CN¥485.0M	CN¥58.8M
Other non-current assets	CN¥11.3M	CN¥19.2M	CN¥56.0M	CN¥91.1M	CN¥92.1M	CN¥91.2M	CN¥641.5M	CN¥81.0M	CN¥327.0M	CN¥674.0M
Total assets	CN¥1.60B	CN¥1.91B	CN¥1.96B	CN¥1.88B	CN¥2.30B	CN¥3.20B	CN¥6.60B	CN¥6.56B	CN¥6.66B	CN¥9.16B
Liabilities
Accounts payable	CN¥219.6M	CN¥290.1M	CN¥317.1M	CN¥265.8M	CN¥387.5M	CN¥724.9M	CN¥1.34B	CN¥1.38B	CN¥852.5M	CN¥1.02B
Short-term debt	CN¥110.4M	CN¥194.6M	CN¥203.1M	CN¥220.0M	CN¥238.4M	CN¥560.9M	CN¥798.3M	CN¥206.9M	CN¥18.7M	CN¥11.0M
Deferred revenue	CN¥184.6M	CN¥322.4M	CN¥345.0M	CN¥181.5M	CN¥238.4M	CN¥309.0M	CN¥1.11B	CN¥1.06B	CN¥1.21B	CN¥1.95B
Total current liabilities	CN¥636.7M	CN¥893.7M	CN¥958.9M	CN¥774.3M	CN¥979.0M	CN¥1.74B	CN¥3.75B	CN¥3.10B	CN¥2.92B	CN¥4.53B
Long-term debt	CN¥0	CN¥0	CN¥10.4M	CN¥12.0M	CN¥14.3M	CN¥22.6M	CN¥9.7M	CN¥0	CN¥0	CN¥0
Lease obligations	CN¥4.4M	CN¥4.7M	CN¥8.1M	CN¥38.9M	CN¥55.4M	CN¥52.6M	CN¥112.2M	CN¥0	CN¥0	CN¥0
Other long-term liabilities	CN¥5.6M	CN¥6.8M	CN¥11.4M	CN¥33.3M	CN¥51.3M	CN¥52.3M	CN¥89.3M	CN¥40.4M	CN¥42.5M	CN¥54.9M
Total liabilities	CN¥642.3M	CN¥900.5M	CN¥980.6M	CN¥819.6M	CN¥1.04B	CN¥1.82B	CN¥3.85B	CN¥3.14B	CN¥2.96B	CN¥4.58B
Shareholders' equity
Common stock & paid-in capital	CN¥249,153	CN¥249,000	CN¥249,000	CN¥249,000	CN¥249,000	CN¥249,000	CN¥249,000	CN¥249,000	CN¥248,000	CN¥242,000
Retained earnings (deficit)	−CN¥8.02B	−CN¥8.05B	−CN¥8.13B	−CN¥8.03B	−CN¥7.83B	−CN¥7.71B	−CN¥6.39B	−CN¥5.69B	−CN¥5.51B	−CN¥4.76B
Treasury stock	—	—	—	—	—	—	−CN¥310.9M	−CN¥304.5M	−CN¥185.4M	−CN¥19.7M
Accumulated other comprehensive income	CN¥307.6M	CN¥313.5M	CN¥305.4M	CN¥299.0M	CN¥271.8M	CN¥275.0M	CN¥293.8M	CN¥284.1M	CN¥272.4M	CN¥400.9M
Minority interest	−CN¥72.2M	−CN¥71.6M	−CN¥51.0M	−CN¥49.7M	—	—	CN¥0	CN¥0	CN¥0	CN¥0
Total shareholders' equity	CN¥1.03B	CN¥1.08B	CN¥1.03B	CN¥1.11B	CN¥1.27B	CN¥1.38B	CN¥2.71B	CN¥3.35B	CN¥3.60B	CN¥4.48B
Key figures
Total debt	CN¥111.4M	CN¥196.3M	CN¥218.8M	CN¥258.4M	CN¥291.5M	CN¥617.9M	CN¥862.7M	CN¥206.9M	CN¥18.7M	CN¥11.0M
Net cash (debt)	CN¥960.4M	CN¥701.5M	CN¥938.1M	CN¥619.9M	CN¥673.4M	CN¥949.3M	CN¥738.1M	CN¥1.21B	CN¥3.58B	CN¥5.13B
Working capital	CN¥660.9M	CN¥309.7M	CN¥549.2M	CN¥425.7M	CN¥496.4M	CN¥540.0M	CN¥74.5M	CN¥1.31B	CN¥2.17B	CN¥2.98B
Tangible book value	CN¥991.7M	CN¥969.9M	CN¥914.2M	CN¥870.1M	CN¥887.1M	CN¥984.6M	CN¥2.21B	CN¥2.77B	CN¥2.99B	CN¥3.74B
Shares outstanding	3.8M	4.0M	12.4M	12.4M	12.4M	12.3M	12.3M	12.6M	12.6M	12.4M
Current ratio	2.04	1.35	1.57	1.55	1.51	1.31	1.02	1.42	1.74	1.66
Quick ratio	1.86	1.14	1.26	1.18	1.12	1.06	0.64	0.90	1.42	1.27
Debt / equity	0.11	0.18	0.21	0.23	0.23	0.45	0.32	0.06	0.01	0.00
Equity / assets	64.4%	56.6%	52.6%	59.0%	55.2%	43.3%	41.1%	51.1%	54.0%	48.9%

Tuniu Corporation quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	CN¥144.8M	CN¥1.07B	CN¥1.07B	CN¥954.1M	CN¥1.06B	CN¥1.04B	CN¥897.8M	CN¥1.28B	CN¥1.25B	CN¥1.17B	CN¥1.15B	CN¥1.17B
Cash & equivalents	CN¥39.3M	CN¥217.6M	CN¥217.6M	CN¥229.1M	CN¥438.1M	CN¥489.9M	CN¥465.0M	CN¥401.9M	CN¥652.8M	CN¥487.0M	CN¥377.5M	CN¥323.3M
Short-term investments	CN¥105.5M	CN¥854.2M	CN¥854.2M	CN¥724.9M	CN¥626.6M	CN¥554.2M	CN¥432.8M	CN¥877.1M	CN¥599.7M	CN¥684.2M	CN¥776.6M	CN¥842.2M
Receivables	CN¥9.9M	CN¥110.4M	CN¥68.2M	CN¥87.1M	CN¥64.1M	CN¥38.5M	CN¥44.1M	CN¥61.8M	CN¥55.4M	CN¥58.2M	CN¥54.3M	CN¥68.3M
Inventory	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥26.7M	CN¥37.3M	CN¥0	CN¥28.6M
Other current assets	CN¥20.3M	CN¥115.4M	CN¥157.7M	CN¥261.6M	CN¥304.7M	CN¥202.9M	CN¥261.5M	CN¥249.1M	CN¥210.6M	CN¥152.6M	CN¥301.8M	CN¥231.3M
Total current assets	CN¥175.1M	CN¥1.30B	CN¥1.30B	CN¥1.30B	CN¥1.43B	CN¥1.29B	CN¥1.20B	CN¥1.59B	CN¥1.55B	CN¥1.42B	CN¥1.51B	CN¥1.49B
Property, plant & equipment (net)	CN¥3.6M	CN¥25.7M	CN¥25.7M	CN¥27.3M	CN¥27.9M	CN¥37.5M	CN¥42.1M	CN¥63.3M	CN¥65.4M	CN¥67.9M	CN¥70.0M	CN¥90.5M
Goodwill & intangible assets	CN¥2.7M	CN¥19.6M	CN¥39.3M	CN¥20.5M	CN¥20.5M	CN¥109.3M	CN¥110.7M	CN¥112.1M	CN¥113.0M	CN¥115.1M	CN¥116.6M	CN¥233.1M
Long-term investments	CN¥206.3M	CN¥208.1M	CN¥227.0M	CN¥330.8M	CN¥349.1M	CN¥349.3M	CN¥534.0M	CN¥211.0M	CN¥210.3M	CN¥209.0M	CN¥209.8M	CN¥229.7M
Other non-current assets	CN¥0	CN¥49.8M	CN¥11.3M	CN¥20.7M	CN¥19.3M	CN¥19.1M	CN¥19.2M	CN¥30.5M	CN¥47.9M	CN¥61.5M	CN¥56.0M	CN¥56.2M
Total assets	CN¥216.5M	CN¥1.60B	CN¥1.60B	CN¥1.70B	CN¥1.85B	CN¥1.80B	CN¥1.91B	CN¥2.01B	CN¥1.98B	CN¥1.87B	CN¥1.96B	CN¥2.10B
Liabilities
Accounts payable	CN¥41.0M	CN¥219.6M	CN¥219.6M	CN¥327.4M	CN¥348.3M	CN¥305.4M	CN¥290.1M	CN¥397.3M	CN¥366.1M	CN¥347.5M	CN¥317.1M	CN¥427.8M
Short-term debt	CN¥546,762	CN¥110.4M	CN¥3.4M	CN¥3.3M	CN¥3.2M	CN¥3.1M	CN¥3.0M	CN¥3.2M	CN¥3.3M	CN¥10.7M	CN¥7.3M	CN¥10.9M
Deferred revenue	CN¥19.8M	CN¥184.6M	CN¥184.6M	CN¥93.8M	CN¥193.4M	CN¥159.4M	—	CN¥178.3M	CN¥223.6M	CN¥140.8M	—	CN¥160.8M
Total current liabilities	CN¥90.2M	CN¥636.7M	CN¥636.7M	CN¥723.3M	CN¥878.1M	CN¥831.8M	CN¥893.7M	CN¥934.1M	CN¥940.5M	CN¥847.4M	CN¥961.0M	CN¥965.5M
Long-term debt	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥8.4M	CN¥10.4M	CN¥9.1M
Lease obligations	CN¥4.6M	CN¥4.3M	CN¥4.4M	CN¥4.5M	CN¥4.5M	CN¥4.6M	CN¥4.7M	CN¥6.6M	CN¥6.9M	CN¥7.6M	CN¥8.1M	CN¥11.5M
Other long-term liabilities	CN¥760,014	CN¥5.6M	CN¥5.6M	CN¥5.9M	CN¥6.2M	CN¥6.5M	CN¥6.8M	CN¥8.8M	CN¥9.1M	CN¥10.3M	CN¥11.4M	CN¥15.0M
Total liabilities	CN¥91.0M	CN¥642.3M	CN¥642.3M	CN¥729.2M	CN¥884.3M	CN¥838.4M	CN¥900.5M	CN¥942.9M	CN¥949.5M	CN¥866.1M	CN¥982.8M	CN¥989.6M
Shareholders' equity
Common stock & paid-in capital	CN¥31,833	CN¥249,153	CN¥249,153	CN¥249,000	CN¥249,000	CN¥249,000	CN¥249,000	CN¥249,000	CN¥249,000	CN¥249,000	CN¥249,000	CN¥249,000
Retained earnings (deficit)	−CN¥1.23B	−CN¥8.02B	−CN¥8.02B	−CN¥8.02B	−CN¥8.04B	−CN¥8.06B	−CN¥8.05B	−CN¥8.03B	−CN¥8.07B	−CN¥8.11B	−CN¥8.13B	−CN¥8.00B
Accumulated other comprehensive income	CN¥44.0M	CN¥307.6M	CN¥307.6M	CN¥309.7M	CN¥311.0M	CN¥312.6M	CN¥313.5M	CN¥304.9M	CN¥311.8M	CN¥307.4M	CN¥305.4M	CN¥311.3M
Minority interest	−CN¥73.0M	−CN¥72.6M	−CN¥72.2M	−CN¥72.2M	−CN¥72.1M	—	—	—	—	—	—	—
Total shareholders' equity	CN¥136.2M	CN¥1.03B	CN¥1.03B	CN¥1.05B	CN¥1.04B	CN¥1.03B	CN¥1.08B	CN¥1.11B	CN¥1.08B	CN¥1.05B	CN¥1.03B	CN¥1.16B
Key figures
Total debt	CN¥680,873	CN¥111.4M	CN¥4.4M	CN¥4.5M	CN¥4.6M	CN¥4.7M	CN¥4.7M	CN¥6.6M	CN¥6.9M	CN¥23.6M	CN¥23.0M	CN¥28.8M
Net cash (debt)	CN¥144.2M	CN¥960.4M	CN¥1.07B	CN¥949.5M	CN¥1.06B	CN¥1.04B	CN¥893.1M	CN¥1.27B	CN¥1.25B	CN¥1.15B	CN¥1.13B	CN¥1.14B
Working capital	CN¥84.9M	CN¥660.9M	CN¥660.9M	CN¥579.5M	CN¥555.4M	CN¥453.7M	CN¥309.7M	CN¥655.8M	CN¥604.7M	CN¥571.9M	CN¥549.2M	CN¥528.1M
Tangible book value	CN¥133.6M	CN¥1.01B	CN¥991.7M	CN¥1.02B	CN¥1.02B	CN¥924.8M	CN¥969.9M	CN¥995.5M	CN¥962.2M	CN¥934.7M	CN¥914.2M	CN¥930.9M
Shares outstanding	10.8M	3.7M	37.0M	3.8M	3.8M	3.9M	118.0M	40.0M	12.2M	41.5M	123.8M	41.6M
Current ratio	1.94	2.04	2.04	1.80	1.63	1.55	1.35	1.70	1.64	1.67	1.57	1.55
Quick ratio	1.72	1.86	1.79	1.44	1.29	1.30	1.05	1.44	1.39	1.45	1.26	1.28
Debt / equity	0.00	0.11	0.00	0.00	0.00	0.00	0.00	0.01	0.01	0.02	0.02	0.02
Equity / assets	62.9%	64.4%	64.4%	61.4%	56.1%	57.4%	56.6%	55.2%	54.3%	56.1%	52.5%	55.3%

Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed April 20, 2026); data from EODHD.

TOUR financial position

At the end of fiscal 2025 (December 31, 2025), Tuniu had total assets of CN¥1.6 billion (down 16.2% from a year earlier), total liabilities of CN¥642.3 million and shareholders' equity of CN¥1.0 billion. It held CN¥1.1 billion in cash and short-term investments against CN¥111.4 million of debt, a net cash position of CN¥960.4 million. Its current ratio was 2.04. In the latest quarter (ended June 30, 2026) total assets were CN¥216.5 million and equity CN¥136.2 million.

Related: TOUR income statement, TOUR cash flow statement, TOUR key metrics. See the TOUR stock overview for the latest quote and news.

TOUR balance sheet FAQ

What are Tuniu's total assets?

Tuniu reported total assets of CN¥1.6 billion at the end of fiscal 2025 (December 31, 2025), compared with CN¥1.9 billion a year earlier.

How much debt does Tuniu have?

Tuniu had CN¥111.4 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.11.

How much cash does Tuniu have?

Tuniu held CN¥1.1 billion in cash and short-term investments at the end of fiscal 2025; with CN¥111.4 million of debt that is net cash of CN¥960.4 million.

What is Tuniu's book value?

Tuniu's shareholders' equity (book value) was CN¥1.0 billion at the end of fiscal 2025.

What is Tuniu's current ratio?

Tuniu had current assets of CN¥1.3 billion and current liabilities of CN¥636.7 million, a current ratio of 2.04 (it can cover its short-term obligations).

How much goodwill does Tuniu have?

Tuniu carried CN¥39.3 million of goodwill and intangible assets, 2.5% of total assets, at the end of fiscal 2025.