Orchid Pavilion set to plunge 40%:CFO said no consideration of rival shocks

Orchid Pavilion set to plunge 40%

August 20 Evening News, the Orchid Pavilion set potential (NYSE:LITB) opened today 11.48 U.S. dollars, the closing price of 40.43%.

Orchid Pavilion set in the early morning released two quarterly results. According to the report, the net revenue of the pavilion was 72.2 million U.S. dollars in the second quarter, a 52.6% increase over the same period last year, and a net profit of $600,000, with a net loss of 1.4 million dollars over the same period last year.

In response to analysts ' weak performance in June, Shire, CFO of the pavilion, said two things in the two quarter affected the company's earnings, one internal execution, and the company's forecasts for the two-quarter user conversion were consistent with the actual results, similar to the figures for the two quarter last year and the first quarter of this year, which are also related to seasonality, But we did not anticipate the June decline in the conversion rate, in part because the company's commodity strategy too much focus on high-end products, not enough attention to low-end products; second, competitors to the company's IPO response is unprecedented strong, they through a sharp price and scramble for traffic to suppress the orchid pavilion trend, But companies see these competitive actions as unsustainable. The company believes that in the future to make forecasts, not only to consider the internal situation of the company, but also to consider the external situation. (Chen Hui)