Where are we going? Two quarterly revenue 64.5 million USD

Absrtact: August 22, where to go (NASDAQ Stock Exchange Code: QUNR) released today for the second quarter of the 2014 fiscal year ended June 30 without the audit earnings. The report shows where to go the total revenue for the second quarter was 400.4 million yuan (about 64.5 million U.S. dollars), compared to

August 22, where to go (NASDAQ Stock Exchange Code: QUNR) released today the second quarter of the 2014 fiscal year ended June 30 without the audit earnings. The report shows where to go the total revenue in the second quarter was 400.4 million yuan (about 64.5 million U.S. dollars), up 127.3% from a year earlier, up 19.4% per cent from the previous quarter ; The net loss of the shareholder is 421.6 million yuan (about 68 million US dollars), where the net loss of the shareholder is 41.2 million yuan, and the net loss of the shareholder in the last quarter is RMB 183.6 million.

Main achievements:

Where to go? Total revenue in the second quarter was 400.4 million yuan (about 64.5 million U.S. dollars), up 127.3% from a year earlier, the highest revenue growth since the 10 quarter;

Where to go? Mobile revenues in the second quarter were 142.3 million yuan (about 22.9 million U.S. dollars), up 511.8% from a year earlier, and 35.5% per cent in total revenue, compared with 13.2% in the same period last year;

Where to go? Total estimated flight bookings (teft) and total estimates for the second quarter (Tehr) were 19.1 million and 7.3 million respectively, up 66.1% and 105.2% respectively compared with the same period last year.

Where are you going? "We are delighted to see where the net has again achieved strong results," said Zhungchengsu, CEO and co-founder of the network. In the market share expansion and the price lever, led by further increase in income growth, the various business units predetermined volume growth is gratifying. The return on our investments over the last few quarters is quicker than we expected. The average income of a single ticket grew 46% per cent year-on-year, reflecting the market leading position of the network, as well as the great value for the tourist service providers. ”

"Where to go the network has further secured its position by providing the most competitive prices and the broadest selection of products. In the second quarter, we contracted more than 72,000 hotels, the direct network coverage reached more than 165,000 hotels. We have also further consolidated the leading position at the mobile end. We have a large number of mobile clients, total activation volume of 270 million, wireless revenue accounted for 36% of total revenue. The total volume of tourism business transactions maintained a rapid growth momentum, the year-on-year increase of more than 5 times times.

"We are pleased with the progress we have made in investing in technology and product channels." "Where to go, Chief financial officer Sun Ganghui said," In the future, where to go will continue to invest in order to ensure the capture of future market opportunities. " ”

Financial Analysis:

Where are you going? Total revenue in the second quarter was 400.4 million yuan (about 64.5 million U.S. dollars), up 127.3% from a year earlier, up 19.4% per cent from the previous quarter. Where are you going? Mobile revenues in the second quarter were 142.3 million yuan (about 22.9 million U.S. dollars), up 511.8% from a year earlier, and 35.5% per cent of total revenue. Where are you going? In the second quarter, P4P revenue was 378.6 million yuan (about 61 million U.S. dollars), up 137.4% from a year earlier, up 18.7% per cent from the previous quarter.

In terms of performance-paid revenue, where to go the second-quarter flight and flight-related revenues were 279.4 million yuan (about 45 million U.S. dollars), up 143.3% from a year earlier. Where are we going? The year-on-year increase in airline and flight-related revenue was mainly due to a 66.1% increase in the total estimated flight bookings and a 46.4% increase in revenue per ticket.

Where are we going? The second quarter's performance-paid hotel revenue was 71.5 million yuan (about 11.5 million U.S. dollars), up 79.5% from a year earlier. Where are we going? The Year-on-year growth in revenue from performance-paid hotel revenues was largely offset by a 12.5% per cent drop in overnight receipts for hotel rooms, mainly as a result of a 105.2% increase in overnight bookings. The drop in night income per room is mainly the result of coupon-related promotional costs and daily average room rate declines.

Where are we going? Gross profit for the second quarter was 294.7 million yuan (about 47.5 million U.S. dollars), up 114.1% from a year earlier. Where to? The gross profit margin for the second quarter was 73.6%, compared with 78.2% last year and 78.1% in the previous quarter. Where are we going? The year-on-year increase in gross profits, mainly due to a sharp increase in total revenue, was partly offset by an increase in online payment processing costs, which are counted in the revenue costs. In the second quarter, gross profits grew faster than in previous quarters.

Where to? Second-quarter product development spending was 181.6 million yuan (about 29.3 million U.S. dollars), up 181.6% from a year earlier. Where to? The growth in product development spending is mainly due to the increase in the number of product development staff, as well as the associated pay, benefits and other employee-related expenditures. Excluding equity incentive payments. Third-quarter product development spending accounted for 41.8% per cent of total revenue, compared with 34.5% in the previous quarter, and 31.6% per cent in the past.

Where to? second-quarter product purchases were 67.7 million yuan (about 10.9 million U.S. dollars), up 416.1% from a year earlier, mainly due to an increase in the number of product procurement staff. Excluding equity incentive payments. Third-quarter product purchases rose 428.5% from a year earlier, accounting for 16.9% of total revenue, compared with 7.3% in the same period last year and 11.4% in the previous quarter.

Where are you going? Sales and marketing expenditures for the second quarter were 215 million yuan (about 34.7 million U.S. dollars), up 212.4% from a year earlier. Where to go the growth in sales and marketing spending was mainly due to increased sales and marketing of staff, resulting in increases in salaries and benefits, as well as online marketing spending growth. Excluding equity incentive spending, where to go the second quarter sales and marketing spending rose 211.4% from a year earlier, accounting for 52.9% of total revenue, 38.6% for the same period last year, and 38.4% for the previous quarter.

Where to? The second-quarter online marketing spending for the company's intimate cooperation agreement was 147.6 million yuan (about 23.8 million U.S. dollars), up 120.5% per cent from the previous quarter. The increase in spending was mainly attributable to a sharp increase in the number of pages viewed by Baidu in the second quarter. Baidu's intimate cooperation agreement from the online marketing expenditure in accordance with the grant of Baidu warrants fair value on a proportional basis.

Where are we going? General and administrative expenditures for the second quarter were 111.8 million yuan (about 18 million U.S. dollars), up 432.9% from a year earlier. Where are we going? The growth in general and administrative expenditures, mainly due to the increase in staff size and average wages, has led to an increase in equity incentive spending, pay and benefits. Excluding equity incentive payments, where are we going? General and administrative expenditures accounted for 13.3% per cent of total revenue in the second quarter, 10.8% per cent in the same period last year, and 11% per cent in the previous quarter, which was mainly attributable to increased costs associated with where to become a public company.

Where are you going? Operating losses in the second quarter were 429 million yuan (about 69.1 million U.S. dollars), compared with the operating losses of 29.7 million yuan last year, and the last quarter operating losses of RMB 174.1 million. Do not count from the Baidu intimate cooperation agreement of RMB 147.6 million online marketing expenditure, RMB 76 million yuan equity incentive spending and with Baidu contribution of free user flow related Non-cash expenses (not in accordance with the United States General accounting standards), Where to? The operating loss in the second quarter was 203.8 million yuan (about 32.9 million U.S. dollars). Not according to General accounting standards in the United States where to go the operating profit margin for the second quarter was 50.9%, compared with 12.2% last year and 13.8% in the previous quarter.

Where to go in the second quarter. The net loss for shareholders is 421.6 million yuan (about 68 million U.S. dollars), where the net loss of the shareholder was 41.2 million yuan, and the net loss of the shareholder in the last quarter was 183.6 million yuan. where you belong. The expansion of the net loss of shareholders is mainly attributable to the continued investment in product development and procurement and marketing in order to promote the growth of the company's business; Where are we going? In the second quarter, each share of the United States Depository Receipts basic and diluted losses are 3.60 yuan (about 0.57 U.S. dollars).

Excluding the online marketing spending from the Baidu intimate Cooperation agreement, the equity incentive spending and the non-cash expenses associated with the free user flow that Baidu contributes (not in accordance with the US GAAP), Where are you going? The net loss after the second quarter adjustment was 196.5 million yuan (about 31.7 million US dollars), compared with the net loss of 33 million yuan after the adjustment last year, and the net loss after the last quarter was 55.7 million yuan.

Excluding from Baidu's intimate cooperation agreement online marketing spending, equity incentive spending, and Baidu contribution to the free user flow related to Non-cash expenditure (not in accordance with the United States General Accounting standards), where to go to the second quarter of the Adjusted EBITDA (that is, not included in interest, taxes, The net profit before depreciation and amortization was RMB-183.2 million yuan (approx. 29.5 million USD), which was RMB-14.8 million yuan in the same period last year and was RMB-45.8 million in the previous quarter.

As of June 30, 2014, the total amount of cash, cash equivalents and short-term investments to be held was RMB 1.3 billion (about 211 million U.S. dollars). As of June 30, 2014, the total amount of Class A common stock was 255,070,668 shares, and the total B stock was 100,631,019 shares.

Note: The renminbi has an exchange rate of 6.2036:1 against the dollar in this earnings.

Performance Outlook:

Where to go? The year-on-year increase in revenue in the third quarter of fiscal year 2014 is expected to be between 90% and 95%. This performance outlook reflects the current and preliminary expectations of the company's management and may be adjusted in the future.

Analyst expectations and share price changes:

On average, Wall Street analysts are expected to lose 25 cents a share in the second quarter, with a total revenue of $56.03 million, according to Yahoo's financial data. Where are you going? Total revenue in the second quarter was far more than analysts had expected, boosting its share price after a sharp rise of more than 8%.

That day, where to go the stock price rose 0.11 US dollars in conventional trading in the Nasdaq market, at $29.04, or 0.38%. The shares rose 2.47 to $31.51, or 8.51%, in a 5;11 deal that followed the end of 17:11 (Beijing time, 22nd). For the past 52 weeks, the highest stock price to go to is 36.73 U.S. dollars, the lowest share price of 21.00 U.S. dollars. Snow）