Hello, and thank you for standing by for Tuniu's 2022 First Quarter Earnings Conference Call. At this time, all participants are in a 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, and welcome to our 2022 First Quarter Earnings Conference Call. Joining me on the call today are Donald Dunde 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 first quarter of 2022. Before we continue, I refer you to our safe harbor statement in earnings press release which applies to 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 Dunde Yu.
Thank you, Mary. Good day, everyone. Welcome to our First Quarter 2022 Earnings Conference Call. From the beginning of this year, we have seen the most severe resurgence of COVID-19 since the initial outbreak in 2020. As a company with deep experience in tourism, Tuniu has built in resilience for coping with short-term industry fluctuation, patience, and we are confident that the industry will resume its recovery in the near future. During the past quarter, we continued to focus on product innovation, service quality, all of which will help us to remain competitive as we take on new opportunities and challenges. Even as the pandemic resurgence has temporarily halted most travel, enthusiasm among the public remains high.
According to a recent study by a domestic mainstream media outlet, travel ranked at the top of the consumption wish list for consumers aged between 18-35, and ranked in the top three categories for consumers above the age of 60. In order to satisfy our customers' demands for travel while complying with pandemic prevention regulations, we are constantly upgrading and innovating our products and sales models. In terms of our products, we have emphasized the development of local tour products for travel within cities and nearby destinations. Leveraging our leading hotel resources, we initiated seasonal product offerings and our Hotel Plus X product model, such as winter hot spring and spring fruit picking in order to provide more diverse selection of local tour products for customers.
Leveraging our resources in the city travel market, we also launched a series of city walk educational themed tour products, which cover museums, zoos, and public gardens. Our product innovations are designed to mirror market trends. Among these, camping has become more popular. We have recently begun offering high-quality camping or glamping and RV camping for young customers and families with children. During the May Day holiday this year, sales of camping related travel products saw significant growth. In line with our motto of safe booking, safe travel, most of Tuniu's products, especially inter-provincial tours, have adopted the advanced booking and travel confirmation sales model. Customers are able to make discount bookings and later confirm their departure date with the option to receive a full refund in case of cancellations, which also will help drive strong enthusiasm among customers for traveling in the future.
Tuniu has fully leveraged live streaming shows as a key sales channel through the COVID-19 outbreak. We have hosted themed shows for our members day, as well as shows centered around the specific regional travel products. As well as multi-channel live streaming shows featuring outdoor travel and destination recommendations, in addition to our regular daily product promotions. Tuniu's live streaming shows are also an important channel for collecting customer feedback and to help us improve our product offerings. Tuniu's has steadfastly adhered to our customer first principle in providing full cycle services for customers during the COVID-19 pandemic. Our customer service team has been monitoring the pandemic situation and works closely with our local tour operators to ensure guest safety during travel, providing timely refunds or exchange services during spikes in resurgence.
Our customer service team communicates with our regular customers on a constant basis, and provides tour recommendations, especially for discounted products that are available for advanced booking. Tuniu has gained a great number of loyal customers over the years through our reputation of providing high quality products and services. The contribution of our repeat customers to our overall GMV has been increasing since the pandemic broke out. We will continue to work hard to provide high quality service for our customers and help them with their future travel plans. Next, I would like to talk about our ESG development. In terms of products, we adhere to our strategy of supporting agriculture through travel. We collaborated with destinations in remote areas for product development and launched customized travel products, especially for them. We also launched sales channels for local spec.
Specialty products, allowing guests to have authentic local experience while supporting the development of the local tourism economy. Throughout the pandemic, we have placed a great focus on our employees' safety and health. In order to better take care of our local employees who work in different regions in China, we made proper work arrangements in accordance with regional pandemic prevention and control guidelines, such as working remotely from home and enjoying flexible work shifts. We also implemented regular nucleic acid testing for local staff, especially reception staff at our destinations, to ensure the safety and health of themselves and our guests. We continued to organize team building activities during the recent pandemic resurgence, and carried out internal trainings and competitions for our core staff and teams to keep them engaged and motivated.
We also carried out several recreational activities such as short video contests and outdoor running contests to encourage our employees to stay healthy physically and mentally. In addition, Tuniu sent volunteers to support the community pandemic prevention work and services. We remain confident about the future of China's travel industry, even though we are still facing many challenges on the road up to full recovery. We are encouraged to see that the COVID-19 inter-province travel guidance were adjusted recently, which narrowed the restrictions scope from provinces to cities. While the overall travel demand in China continues to rise despite the resurgence of the pandemic. We believe that with the patience and support of our guests and partners, the days of traveling freely will return soon.
I'll now turn the call over to Anqiang Chen, our Financial Controller for the financial highlights.
Thank you, Donald. Hello, everyone. Now I'll walk you through our first quarter of 2022 financial results in greater detail. Please note that all monetary amounts are in RMB, unless otherwise stated. You can find the U.S. dollar equivalents of the numbers on the earnings release. For the first quarter of 2022, net revenues were CNY 41.5 million, representing a year-over-year decrease of 46% from the corresponding period in 2021. The decrease is primarily due to the negative impact brought by the outbreak and the spread of COVID-19. Revenues from package tours were down 68% year-over-year to CNY 14.4 million, and accounted for 35% of our total net revenues for the quarter. The decrease was primarily due to the resurgence of COVID-19 in certain regions in China.
Other revenues were down 15% year-over-year to CNY 27.1 million, and accounted for 65% of our total net revenues. The decrease was primarily due to the decrease in the fees for advertising services provided to tourism boards and bureaus. Gross profit for the first quarter of 2022 was CNY 15.8 million, down 45% year-over-year. Operating expenses for the first quarter of 2022 were CNY 68.6 million, down 18% year-over-year. Excluding share-based compensation expenses and amortization of acquired intangible assets, non-GAAP operating expenses was CNY 65.5 million, representing a year-over-year decrease of 18%. Research and product development expenses for the first quarter of 2022 were CNY 16.2 million, up 37% year-over-year. The increase was primarily due to the increase in research and product development personnel-related expenses.
Sales and marketing expenses for the first quarter of 2022 were CNY 29.8 million, down 16% year-over-year. The decrease was primarily due to the decrease in promotion expenses. General and administrative expenses for the first quarter of 2022 were CNY 27.7 million, down 38% year-over-year. The decrease was primarily due to the decrease in general and administrative personnel-related expenses and allowance for doubtful accounts. Net loss attributable to ordinary shareholders was CNY 40.4 million in the first quarter of 2022. Non-GAAP net loss attributable to ordinary shareholders, which excluded share-based compensation expenses and amortization of acquired intangible assets, were CNY 37.2 million in the first quarter of 2022. As of March 31, 2022, the company had cash and cash equivalents, restricted cash and short-term investments of CNY 929.5 million.
Capital expenditures for the first quarter of 2022 were CNY 2.1 million. For the second quarter of 2022, the company expects to generate CNY 32.2 million-CNY 40.2 million of net revenues, which represents a 75%-80% decrease year-over-year. Please note that the forecast reflects Tuniu's current 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?
Thank you. We will now begin the question and answer session. To ask a question, you may press star then one on your touchtone phone. If you're using a speakerphone, please pick up your handset before pressing a key. To withdraw your question, please press star then two. 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 first question has been addressed. At this time, we will pause momentarily to assemble our roster. The first question today comes from Grace Au with 86Research . Please go ahead.
Thank you. Hello, my name is Grace. I have a question for management. As we know, the tourism industry is currently faced with challenges because of the severe resurgence of COVID-19 in the past few months. Under such circumstances, how do you view the future development of the tourism industry? What strategic measure, measures will the company take in the second half of the year to deal with the risks brought by the pandemic? Will there be any changes compared to the past? Thank you.
Thank you for the question. We are facing the most severe rebound of the pandemic since the first quarter of 2020. The current Omicron outbreak has negatively affected the domestic travel market, as well as our revenues in the first half of the year. However, we are glad to see that with the number of infections gradually going down recently, domestic travel restrictions tend to be eased. In the past Dragon Boat Festival, our number of trips doubled compared with the Qingming Festival.
The market may maintain the momentum of recovery in the coming summer vacation and National Day holiday, provided that the pandemic is under control. In the long run, we believe the industry will continue to grow despite the impact of the pandemic. Tourism demand has not decreased, but has been temporarily pent-up, and it will eventually be released someday. This demonstrated by the increasingly popular retail campaign since the spring. To capture the pent-up demand and reduce the uncertainties of the pandemic, we seek to provide products which are innovative and flexible. On one side, our product design follows the concept of experiential tourism, adding more personalized interactive activities for people to enjoy the happiness during the trip.
On the other side, our product sales adopts advanced booking and travel confirmation model. People are free to book any products at any time. If their trips are delayed or canceled, they can choose a later departure date or just get a refund. In terms of service, we always insist the customer first principle and provide full cycle service to our customers. Good services help us to retain customers. It's important to care about loyal customers, especially when the market is depressed. Our customer service representatives keep close contact with regular customers during the pandemic to reinforce the customer's stickiness, providing them with travel related messages. Therefore, Tuniu is likely to be their first choice when our customers plan to travel. In addition, the pandemic brings changes to the travel industry, and we are also trying something new.
For example, we've further developed rural tourism because it captures both the concept of experiential and tourism and the momentum of local tour. Our local tour team traveled across the country to find suitable destinations, which should include characteristic accommodation, food, as well as local activities. We deeply cooperate with these destinations and design special products for them. Based on our experience in the travel industry and the knowledge of customers, we help these destinations to attract more customers and develop local tourism economy. Moreover, we also run a BnB in Tianjin by ourselves, exploring a new business scope. In general, we will stay with Tuniu's core competing competencies under the changing environment while trying to find the potential growth points. Thank you.
Again, if you would like to ask a question, please press Star then one. Since there appears to be no further questions, I will now turn the conference over to Tuniu's Director of Investor Relations, Mary, for any 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 call.