Tuniu Corp. Director Xu Liangjie Buys 4,000 ADSs Amid New Ratio and Nasdaq Compliance — A Quiet Bet on Recovery

Insider Buying Amid Regulatory Relief

On May 9, 2026, Xu Liangjie – a senior officer of Tuniu Corp – executed a purchase of 4,000 American Depositary Shares (ADSs) at the prevailing market price of $6.05. This transaction came shortly after the company’s ADS‑ratio adjustment, which increased the number of Class A ordinary shares represented by each ADS from three to thirty. The buy order, filed within a day of the ratio change, suggests that Xu is positioning himself for the new share structure rather than taking advantage of a price dip.

For investors, the move is a modest signal of confidence. The fact that Xu’s purchase occurred when the stock was trading close to its 52‑week low ($5.65) and after a prolonged period of non‑compliance with Nasdaq’s bid‑price rule indicates that he sees a turnaround. The buy is consistent with a pattern of gradual accumulation: in April, Xu added 833 ADSs, bringing his holdings to 39,151 shares. His most recent transaction, while small relative to the company’s market cap of $65.7 million, aligns with a longer‑term holding strategy rather than short‑term speculation.

What It Means for the Business Outlook

Tuniu’s recent regulatory compliance restoration and the shift to a more favorable ADS ratio could improve liquidity and investor perception. Xu’s continued purchasing, coupled with other insiders’ activity—such as Cheng Haijin’s 45‑share purchase on the same day—creates a narrative of internal belief in the company’s trajectory. The company’s stock has suffered a 35.78 % year‑to‑date decline, but the insider buying trend may help to temper further downside and support a potential rebound if the firm can capitalize on its restored Nasdaq status and leverage its travel‑service platform.

Xu Liangjie: A Steady Accumulator

Xu’s transaction history shows a pattern of incremental purchases and selective sales of restricted shares. In early April, he bought 833 ADSs and sold 2,499 restricted shares, ending that day with 39,151 ADSs and no restricted shares. His latest buy of 4,000 ADSs brings his total holdings to 43,151 shares. The absence of large, aggressive buy or sell orders indicates a cautious, long‑term approach. Xu’s behavior aligns with a director who prefers to build a stable stake while avoiding market noise—a strategy that may appeal to value investors seeking insider confidence without speculative volatility.

Bottom Line

The recent insider purchase, while modest in scale, signals confidence in Tuniu’s post‑regulatory recovery and the benefits of the new ADS ratio. For investors, the combination of insider buying and restored Nasdaq compliance provides a cautiously optimistic backdrop as the company aims to rebound from a steep year‑long decline.