Where to? Q2 wireless revenue 142.3 million

Summary: Beijing time August 22 Morning News, where to go today released the second quarter of the fiscal year ended June 30, unaudited results of 2014. Where are you going? Total revenue for the second quarter was 400.4 million yuan (about 64.5 million U.S. dollars), up 127.3% from a year earlier, compared with the previous quarter

Beijing time August 22 Morning News, where to go today released the second quarter of fiscal year 2014 as at June 30, without the audit earnings. Where are you going? Total revenue for the second quarter was 400.4 million yuan (about 64.5 million U.S. dollars), up 127.3% from the same period last year, and 19.4% per cent in the previous quarter; the net loss to shareholders is 421.6 million yuan (about 68 million USD), Where did you belong to last year? The net loss of the shareholder is RMB 41.2 million, the net loss of the shareholder in the last quarter is 183.6 million yuan.

According to data compiled by Thomson Reuters, 7 of Wall Street analysts on average expect to see a net loss of $36.04 million trillion in the second quarter, according to US GAAP, where the results show the net losses of 68 million dollars in the second quarter, which exceeded analysts ' expectations.

In addition, on average, 8 Wall Street analysts expect total revenue in the second quarter to reach $56.03 million trillion, and the results show where the total revenue in the second quarter was 64.5 million dollars, exceeding analysts ' expectations.

Key financial and operational data for the second quarter of 2014:

Total revenue: Total revenue in the second quarter of 2014 was 400.4 million yuan (64.5 million U.S. dollars), an increase of 127.3% per cent over the last quarter to achieve 90-95% growth forecast for total revenue, creating the past 10 quarterly highs.

Wireless revenue: Wireless revenue in the second quarter of 2014 was 142.3 million yuan (22.9 million U.S. dollars), an increase of 511.8%, the total revenue of 35.5%, the same period last year, the proportion of 13.2%.

In the second quarter of 2014, the total number of tickets was 19.1 million, and the hotel night total was 7.3 million nights, which achieved 66.1% and 105.2% growth respectively over 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 results for the second quarter of 2014

In the second quarter of 2014, the total revenue was 400.4 million yuan (64.5 million U.S. dollars), the year-on-year growth of 127.3%, the chain growth of 19.4%. In the second quarter of 2014, wireless revenue was 142.3 million yuan (22.9 million U.S. dollars), an increase of 511.8%, accounting for 35.5% of total revenue. In the second quarter of 2014, the income paid by effect ("P4P") was 378.6 million yuan (USD 61 million), which grew 137.4%, and the chain grew 18.7%.

Of all P4P income, the 2014 second quarter ticket and ticket related income of 279.4 million yuan (45 million U.S. dollars), an increase of 143.3%. P4P ticket income year-on-year growth is mainly due to the total ticket volume of 66.1% growth, as well as a single ticket average income of 46.4% growth.

Hotel P4P income of 71.5 million yuan (11.5 million U.S. dollars), an increase of 79.5%. Hotel P4P income year-on-year growth was mainly attributable to a 105.2% per cent increase in hotel night totals and a slight 12.5% percentage decline in the commission rate for each night average income for hotels due to the introduction of hotel rebate related promotions.

In the second quarter of 2014, gross margin was 294.7 million yuan (USD 47.5 million), an increase of 114.1% per cent. Gross margin was 73.6% in the second quarter of 2014, with gross profit margin and gross profit margin of 78.2% and 78.1% respectively in the same period last year. Gross profit growth in the second quarter was mainly due to a significant increase in total revenue, partly offset by an increase in online payment fees. Gross margin has continued to grow at an accelerated pace over the past few quarters.

In the second quarter of 2014, the cost of product development was 181.6 million yuan (USD 29.3 million), which grew 181.6% per cent year-on-year, mainly due to the increase in the salaries, benefits and other costs associated with the expansion of the product development team. In addition to employee equity expenditure, product development costs accounted for 41.8% of total revenue, the same period last year, the ratio of 34.5%, the last quarter of the ratio of 31.6%.

In the second quarter of 2014, product channel cost of 67.7 million yuan 10.9 million U.S. dollars), an increase of 416.1% per cent, mainly from the increase in the number of team personnel. In addition to employee equity spending, product channel costs rose 428.5% year-on-year, accounting for the total revenue of 16.9%, the same period last year for the ratio of 7.3%, the last quarter of the proportion of 11.4%.

In the second quarter of 2014, sales and marketing costs were 215 million yuan (USD 34.7 million), up 212.4% from a year earlier, mainly due to the increase in the number of employees and the rise in salary and welfare costs, as well as the growth of online promotion costs. In addition to employee equity spending, sales and marketing costs rose 211.4% year-on-year, accounting for the total revenue of 52.9%, the same period last year, the ratio of 38.6%, the last quarter of the proportion of 38.4%.

In the second quarter of 2014 Baidu (216.84,-2.18,-1%) intimate cooperation generated online promotion cost of 147.6 million yuan (23.8 million U.S. dollars), the chain growth of 120.5%. Intimate cooperation agreement related to the growth of online promotion costs mainly due to the current period of intimate related Web page browsing volume growth. The intimate cooperation agreement produces the online promotion expense according to grant Baidu the warrants fair value calculates proportionally.

In the second quarter of 2014, enterprise management cost was 111.8 million yuan (18 million U.S. dollars), an increase of 432.9%, the growth is mainly due to the increase in the number of employees resulting in the growth of salary and welfare costs and equity spending. In addition to employee equity expenses, enterprise management costs accounted for 13.3% of total revenue, the same period last year, the ratio of 10.8%, the last quarter of 11%, the growth is mainly due to the increase in corporate governance costs.

Operating losses in the second quarter of 2014 were 429 million yuan (USD 69.1 million), operating at a loss of 29.7 million yuan in the same period last year, with an operating loss of 174.1 million yuan in the last quarter. Excluding 147.6 million RMB intimate cooperation agreement generated online promotion costs, 76 million yuan employee option expenditure, and 1.5 million yuan Baidu contribution of free user flow generated by the Non-cash expenditure, non-US general accounting standards operating loss of 203.8 million yuan (32.9 million U.S. dollars). In the second quarter of 2014, the operating loss rate of the non-US general accounting standards was negative 50.9%, while that of the same period last year was negative 12.2% and the previous quarter was negative 13.8%.

In the second quarter of 2014, where the net loss of the net shareholder is 421.6 million yuan (68 million U.S. dollars), where the net loss of the net shareholder is 41.2 million yuan in the same period last year, where to go the net loss of the net shareholder is 183.6 million yuan for the last quarter. Where to go the net loss increase of the net shareholder is mainly due to the sustained investment in product development and marketing costs and the growth of equity expenditure in order to promote business growth. In the second quarter of 2014, the net loss of basic and diluted depository receipts was 3.60 yuan (USD 0.57).

NET losses under non-US general accounting standards in the second quarter of 2014 (excluding the online promotion costs arising from the intimate Cooperation agreement, equity expenditures, and net losses other than the Non-cash costs generated from Baidu's free flow) for 196.5 million yuan (USD 31.7 million), The same period last year not the United States General accounting standards under the net loss of 33.3 million yuan, the last quarter is not the United States General accounting standards under the net loss of 55.7 million yuan.

Losses before interest, taxes, depreciation and amortization in the second quarter of 2014 (adjusted EBITDA, the net loss of income tax, interest, depreciation, amortization, excluding the online promotion costs, equity expenses, and As well as the free flow from Baidu generated by the non-cash costs of 183.2 million yuan (29.5 million U.S. dollars), the same period last year, the loss of 14.8 million yuan, the last quarter of the loss of 45.8 million yuan.

As of June 30, 2014, where to go net cash, cash equivalents and short-term investment total value of 1.3 billion yuan (211 million U.S. dollars). As of July 31, 2014, where to go net circulation of the number of Class A common stock is 255,070,668 shares, B class shares of 100,631,019 shares.

Business outlook

In the third quarter of 2014, the net expected total revenue growth of 90%-95% year-on-year. The figures for where to go to the net are currently preliminary projections that may be adjusted in the future.