＜Research＞Jefferies Expects TONGCHENGTRAVEL (00780.HK) 2Q Total Rev. to Grow 49% YoY; Rating Buy

　　Jefferies issued a research report anticipating that TONGCHENGTRAVEL (00780.HK) -0.260 (-1.745%) Short selling $4.10M; Ratio 7.401% 's 2Q24 revenue and non-IFRS earnings will be in line with expectations.

　　Domestic travel is expected to be driven by accommodation and transportation volume amid a stable competitive landscape, while international travel is in the early stage of its investment phase. Therefore, Jefferies kept rating at Buy, with a target price of $28.2.

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　　Jefferies forecasted that the Group's 2Q24 revenue will grow by 49% YoY to about RMB4.3 billion. Of which, the core OTA revenue will rise by 24% to about RMB3.6 billion. It is also expected that accommodation and transportation revenue will increase by about 10% and 20%.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-17 16:25.)

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