Hello, thank you for standing by for Tuniu's 2022 Third Quarter Earnings Conference Call. At this time, all participants are in listen only mode. After management's prepared remarks, there will be a question and answer session. Today's conference is being recorded. If you have any objections, you may disconnect at this time. I would now like to turn the meeting over to your host for today's conference call, Director of Investor Relations, Mary. Mary, please go ahead.
Thank you. Welcome to our 2022 Third Quarter Earnings Conference Call. Joining me on the call today are Donald Yu, Tuniu's Founder, Chairman, and Chief Executive Officer, and Anqiang Chen, Tuniu's Financial Controller. For today's agenda, management will discuss business updates, operation highlights, and financial performance for the third quarter of 2022. Before we continue, I refer you to our safe harbor statement in the earnings press release which applies this call, as we will make forward-looking statements. Also, this call includes discussions of certain non-GAAP financial measures. Please refer to our earnings release, which contains a reconciliation of non-GAAP measures to the most directly comparable GAAP measures. Finally, please note that unless otherwise stated, all figures mentioned during this conference call are in RMB. I would now like to turn the call over to our Founder, Chairman, and Chief Executive Officer, Donald Yu.
Thank you, Mary. Good day, everyone. Welcome to our third quarter 2022 earnings conference call. In the beginning of this quarter, Tuniu's business rebounded as China's travel industry showed a strong recovery with more effective control over COVID-19, and the arrival of the peak summer season. While more recent pandemic outbreaks since August have impacted vacation and travel plans, Tuniu's net revenues increased over 100%, and revenues from package tours increased over 300% in the third quarter compared to the second quarter. Since 2020, both the overall tourism industry and the company have been impacted by uncertainties in the external environment. Despite these challenges, we have remained focused on customer demand and providing high quality products and service, as well as continuing to roll out cost control measures to strengthen our resilience in the face of risk.
Meanwhile, we have constantly upgraded our product design, customer service, and marketing tool to meet customer demand in the post-pandemic times as we seek new growth opportunities. Turning now to our products. Tuniu's integrated production, supply, and marketing model is the foundation of our ability to provide customers with high quality products. We are stricter with our supply chain selection. Following the pandemic outbreak, our service quality might be potentially impacted by industry changes, including the withdrawal of some of our suppliers from the market. To counter this, we have reorganized our supply chain and strengthened our supplier evaluation and selection process. With the direct procurement advantages from our self-operated local tour operators at destinations, we have reliable resources to continue providing products with industry-leading satisfaction rates.
We have streamlined our product SKUs and focused our production efforts on key destinations to leverage the advantages of scale and focus towards creating more popular travel products. During the summer peak season, our new tour product team and self-operated local tour operators were focused on popular destinations and routes such as Xinjiang, Yunnan, and Guangdong. In the third quarter, the transaction volume in Yunnan and Guangdong province both exceeded 100% compared to last year. For some of the long-tail destinations and products, we collaborated with our partners on operations while strictly reviewing product quality. In terms of product innovation, we continued to seize the opportunities and the village tourism upgrade through developing village tour products, village B&Bs, and popular live streaming shows featuring agriculture products. In addition to attracting customers, these innovative product offerings help promote the development of local economies.
Tuniu is exploring new product directions for the post-pandemic era, including self-operated B&B products. Our project in Tianjin has been operating for more than a year, with gross operating profit exceeding 50% in the third quarter. We will continue to expand our self-operated B&B products to other regions. These asset-light products are usually located near popular tourist cities, and mainly attract guests from for weekend vacations and the local tours. Live streaming shows plus short videos have proven to be one of the most popular promotional models in the culture and tourism industry now. Tuniu combines this new media with the company's existing membership and the community channels, and creates a new channel for customer acquisition.
Our new media marketing covers a number of mainstream media platforms, and we launched self live streaming shows covering multiple regions and travel preferences, leveraging our different experience in the tourism industry. One of Tuniu's live streaming shows on Douyin in Eastern China has long been among the top three lifestyle services live streaming shows in the region of terms of GMV. With several of our live streaming shows exceeding RMB 10 million in sales in October. In addition, we are also cooperating with external clients such as local cultural and tourism bureaus, scenic spots, hotels, and restaurants to explore new business models and directions. Regarding our service, Tuniu's customer-first principle has always guided our approach to providing high quality full cycle services for customers. Especially during the post-pandemic era, guest safety has become more important than ever.
During the peak season, our self-operated local tour operator staff will personally visit the scenic routes before the arrival of our guests to eliminate any potential safety hazard caused by heavy tourist traffic in order to ensure our guests a comfortable and fun travel experience. In terms of product booking, we offer many products that allow online booking with the option to confirm at a later date, providing greater peace of mind amidst pandemic uncertainties. For all customers who purchase our self-operated products, we provide reservation services on their behalf, so they do not need to make reservations with hotels or scenic spots by themselves.
For those customers who have purchased their products but have not yet booked a trip, Tuniu's customer service team will reach out to remind them to book in a timely manner in order to avoid potential inconvenience. Customer service will also notify customers about the latest special offer. In terms of technology, we leverage the technology efficiency and the flexibility of manual labor to improve our internal operations and the processing efficiency. By leveraging digitalization and AI technology, we are able to cover daily tasks with automated process flow, such as order processing and online confirmation option for departure dates at a later time. This allow us to free up capacity for more creative works like complicated booking requests and key product R&D.
With the end of this summer peak season and the impact of the recent recurring pandemic outbreaks, the travel industry is temporarily facing pressure. We are confident that our product and customer service capabilities will position us to benefit when the industry rebounds. I will now turn the call over to Anqiang Chen, our Financial Controller, for the financial highlights.
Thank you, Donald. Hello, everyone. Now I walk you through our third quarter of 2022 financial results in greater detail. Please note that all the monetary amounts are in RMB unless otherwise stated. You can find the US dollar equivalents of the numbers in our earnings release. For the third quarter of 2022, net revenues were RMB 77.9 million, representing a year-over-year decrease of 32% from the corresponding period in 2021. The decrease was primarily due to the negative impact brought by the resurgence and the spread of COVID-19. Revenues from package tours were down 54% year-over-year to RMB 41.4 million and accounted for 53% of our total net revenues for the quarter. The decrease was primarily due to the decisions of COVID-19 in certain regions in China.
Other revenues were up 52% year-over-year to RMB 36.4 million and accounted for 47% of our total net revenues. The increase was primarily due to the increase in commission fees received from other travel-related products. Gross margin was 58% in the third quarter of 2022 compared to a gross margin of 35% in the third quarter of 2021. Operating expenses for the third quarter of 2022 were RMB 59.3 million, down 38% year-over-year. Excluding share-based compensation expenses and amortization of acquired intangible assets, non-GAAP operating expenses were RMB 57.4 million, representing a year-over-year decrease of 37%. Research and product development expenses for the third quarter of 2022 were RMB 9.7 million, down 38% year-over-year. The decrease was primarily due to the decrease in research and product development personnel-related expenses.
Sales and marketing expenses for the third quarter of 2022 were RMB 26.5 million, down 36% year-over-year. The decrease was primarily due to the decrease in promotion expenses. General and administrative expenses for the third quarter of 2022 were RMB 24.3 million, down 41% year-over-year. The decrease was primarily due to the decrease in general and administrative personnel-related expenses. Net loss attributable to ordinary shareholders was RMB 22 million in the third quarter of 2022. Non-GAAP net loss attributable to ordinary shareholders, which excluded share-based compensation expenses and amortization of acquired intangible assets, was RMB 20.1 million in the third quarter of 2022. As of September 2022, the company had cash and cash equivalents, restricted cash and short-term investments of RMB 949.6 million.
CapEx for the third quarter of 2022 were $1 million. For the fourth quarter of 2022, the company is set to generate $26.5 million-$30.8 million of net revenues, which represents a 58%-68% decrease year-over-year. Please note that the forecast reflect only current and preliminary view on the industry and its operations, which is subject to change, particularly as to the uncertainties brought about by the impact of COVID-19. Thank you for listening. We are now ready for your questions. Operator?
The question-and-answer session of this conference call will start in a moment. In order to be fair to all callers who wish to ask questions, we will take one question at a time from each caller. If you have more than one question, please request to join the question queue again after your second question has been addressed. To ask a question, you may press star then one on your touch-tone phone. If you're using a speaker phone, please pick up your handset before pressing a key. To withdraw your question, please press star then two. At this time, we will pause momentarily to assemble our roster. Our first question today comes from Lily Yang, a private investor. Please go ahead.
Thank you, operator. Hi, management. Under the continuous influence of COVID-19 around China, the overall tourism industry is faced with challenges and uncertainties. What is your company's current solution and future strategic plan? Thank you.
Thank you for the question. In the third quarter, tourism industry rebounded since fewer pandemic cases were reported from late June until mid-August. Our revenues from package tours increased over 300% on a quarter-over-quarter basis. Many A-share listed companies that operate scenic areas also reported better financial performance than the previous quarter. From these results, we can see as long as the pandemic is under control, the industry will soon show a strong resilience. We always have faith in the market and the company, despite the uncertainties and difficulties we are faced with.
We'll continue to focus on domestic leisure travel market where we have over 10 years of experience and to provide high quality products and services under the integrated model. These are our core competitive advantages. Although our revenues are temporarily impacted by external factors, we are positive about the long-term growth driven by user demand. Apart from focusing on our core business, we also seek development and a breakthrough in some new business areas. Currently, facing on the continuous resurgence of COVID-19, we take every chance of development with the pandemic stability. The release of pent-up demand will drive the growth of our revenues as the epidemic situation improves provided that our products and services are good enough to attract customers, which requires us to keep improving our products and services based on the track change of the customer preference.
For example, in the post-pandemic era, travelers tend to choose themed, personalized, and non-standard products, while B&B plus scenic areas would be a nice solution for them, and is safe and good for small scale travels. Besides providing such products, we also run a few B&B by ourselves. During the summer vacation, our BNB in Tianjin provides some value-added services such as petting pools for families with children and afternoon tea for leisure travelers, which contributed to the tenancy rate increase. Live streaming show is another area where we invested during the post-pandemic time. We started the live streaming shows about introduction of destinations years ago and began selling travel products through live streaming shows since 2020. Now we have dozens of live streaming shows covering major media platforms.
Some of them have already achieved over RMB 10 million in sales volume. We continue to develop more into 10 million-level showrooms. We expand our product category from package tours and travel-related products to travel equipment, agricultural products, food and drinks, and recreational vehicles. In the supply end, besides selling our own products, we also source from third-party suppliers. Meanwhile, we are qualified suppliers on many media platforms that can distribute our travel products to other sellers on the platforms. We are open to collaboration with any partners on live streaming shows and wish to dig out some more opportunities for development. Finally, after the announcement of adjusted pandemic control measures and updates on inter-province travel restrictions in November, we see the enthusiasm for travel among the public has increased.
The number of visits to our platform and product searches are both on the rise. Although the market still needs time to respond, we are well positioned for a new rebound of recovery. Thank you.
If you have a question, please press star then one. We are now approaching the end of the conference call. I will now turn the call over to Tuniu's Director of Investor Relations, Mary, for closing remarks.
Once again, thank you for joining us today. Please don't hesitate to contact us if you have any further questions. Thank you for your continued support, and we look forward to speaking with you in the coming months.
Thank you for your participation in today's conference. This concludes the presentation. You may now disconnect.