The "dismissal storm" of Chinese Hand Tour

China's hand tour group, affected by the changes in personnel, last week's stock price cliff-style plunged 22.57%, and was temporarily suspended by Nasdaq, the market loss of nearly 100 million U.S. dollars.

After the Chinese hand tour dismissed the storm in Beijing, the relevant executives responded to recent queries, and said that the distribution team will focus on Beijing, the former Chinese hand tour president Chong still responsible for the issue line.

Chinese Hand tour CEO Xiaojian, including the daily economic news reporter, including the media that the purpose of the adjustment is to focus on China's hand tour of the distribution business to Beijing, but because previously given to the distribution team over the authority of the management team to move north of the work encountered resistance, so choose to first 9 senior executives dismissed.

In the "handover work within 3 days," this relatively radical way, should be the leader of the book Ridge surrendered rights, waiting for the group's adjustment. Executives who are now dismissed have gathered in Beijing to work in the new structure.

Resistance to North relocation of distribution line

It is understood that the storm originated from an internal mail. June 19, China Hand Travel group issued an internal bulletin, removed from the company's 9 top issue line of business executives, including the former Chinese Hand tour group President Chong, and the group also adjusts its issuing business organization rules, the release line of business is originally independent personnel removal, finance and procurement privileges. This became the first time since the establishment of China's hand tour group "big Earthquake."

The outflow of the internal mail caused Nasdaq to suspend its deal. Xiaojian said the "failure" of China's hand tour lost nearly 100 million U.S. dollars. At the same time, he said, "We first time with the Nasdaq interpretation of the original, the next day resumed suspension." ”

But there is unconfirmed news that the book Ridge is suspected of "kickbacks" such as grey trading. Therefore, the future of the book Ridge will become the focus of attention in the industry.

In response, the book Ridge responded that this round of personnel adjustments, he will still be responsible for the distribution line business, but also will be responsible for the Chinese hand tour Pan entertainment industry. But it has not yet resumed his duties, and other independent investigation committee results are released after the publicity.

"The Daily economic news," said the reporter, the incident was two months ago, but communication is not smooth to lead to the leakage of mail. It said that China's hand tour distribution team is expanding too quickly, from 100 people to more than 700 a year, distributed in Beijing, Shanghai, Chengdu and Shenzhen, but the group's total distribution revenue of 90% from the Beijing distribution team, therefore, the issue line of business need to focus on Beijing, and maximize efficiency.

"As a result of the development period to give the team a lot of rights and flexibility, therefore, the relocation process was very strong resistance, before the domestic three distribution team, there are three overseas, adjusted at home and abroad, a distribution team." "The book Ridge said that the previous distribution Support Center complex organizational structure to break down, the release Support Center, the financial, human capital, procurement and other departments together to the Group management, can achieve greater synergy effect."

According to the reporter understand, before the appointment and dismissal disclosed, the Chinese hand Tour distribution team has an independent Human resources Administration Department, the enterprise IT department, the Finance Department, the purchasing department and the Internal audit department, is not subject to the group corresponding department's restraint. Another executive at the company's top-hand tour released the group, which is like an independent kingdom free of the entire bloc system.

Hand swim into the cooling period

China's hand tour rectification behind the Chinese hand to reveal a market signal, that is, the first two years of rapid expansion of hand travel, has slowly entered the "strength" stage of competition. A private equity manager who has long focused on the tour says the attitude of market rivals is changing subtly.

"Unlike last year's hand-tour concept stocks, roaming holdings, which landed in the Hong Kong stock market last October, have fallen from HK $73.95 a high to 24.85 Hong Kong dollars, down by as much as 66% per cent," said the source. At the same time, the person said, overseas hand tour shares are full of cold.

An industry insider who declined to be named said that the business is the core business of China's hand tour, signed many successful products, but in the last six months, most of the products are not ideal, in the Android rankings only shelf into the top ten.

At the same time, the people said that the industry's "office struggle" rumors have never been interrupted. Since the beginning of this year, after one of the founders, there has been a "infighting" in the flow of information, because the two bosses are responsible for the release and the two important business. In addition, the adjustment is mainly for the distribution team, quite intriguing. But the rumor has not been confirmed.

Notably, China's first-quarter results were strong, with earnings of 214.7 million yuan (about $34.5 million trillion) in the first quarter of 2014, compared with a 488.2% increase of 36.5 million yuan in the same period last year, according to reports released on May 16. The 146.4 million yuan in the last quarter grew by 46.7%.

Xiaojian told the Daily economic news that the purpose of the adjustment was to serve the issue and develop the two strategies independently. On the surface, the issue of streamlining, but centralized management, since the research line has grown, the rise of the research and explosion is a favorable safeguard.