Road listed in, the CEO in Kingston, how do you say


hunting cloud network comprehensive report on May 10,

way cattle travel network officially listed in nasdaq on Friday, the stock code for the “TOUR”, the opening bid $9, and flat price $9, a market capitalisation of about $500 million. Disk midway net top 17.56%, to $10.64; As of the close road network closed at $10.07, a rise of 11.89% in the price.

way cattle on April 5, submit the application documents, plans to raise $120 million m at most, plans to issue 7.38 million ADS, price range to $9 to 11. On Friday night way cattle price $9, 9 – $11 lower limit for the initial public offering, IPO might raise about $117 million.

according to the prospectus disclosure, listed after the CEO in Kingston, holding way cattle 10.9% stake, according to the opening price is worth up to $54.5 million. Way cattle largest shareholder DCM stake of 23.5%, worth $117 million.

According to the prospectus, ctrip, qihoo 360 respectively will subscribe for $15 million, $5 million shares, sequoia has become the cornerstone investors.

way cattle prospectus mainly for online leisure travel market, through the self-management model with group Tours and travel exclusive products, purchasing products, upstream suppliers through its own packaging and combination, pricing, sales to the end user of mass tourism.

, according to the way cattle in fiscal year 2014 the first quarter of the total revenue of 582 million yuan, 372 million yuan over the same period of last year. Way cattle in the first quarter net loss of 62.8 million yuan, for a net loss of $5.4 million over the same period of last year. With 2013 trips (54%), around 8%, Tours accounted for 37%.

sina CEO interview the way cattle in London, in London, said some what?

the following for the interview transcript:

sina: financing amount is $1.17, the final price for $9 per share, in the price range of low-end, whether by U.S. stocks in the environment and shall share a recent performance impact?

in Kingston: market environment is volatility in the short term. We after the comprehensive consideration of various factors, the price is due to this location. But the key is not how much pricing, or go to a company’s share price performance in the future.

sina: the cow for a fourth in China’s online travel network in the United States, how to form a competitive advantage and achieve breakthrough?

in Kingston: with three other ctrip, elong and where business difference is larger. They more on ticket hotels and domestic travel, we focus more leisure tourism, especially the packaged product (with trips and Tours), in destination is above us more outbound travel. Business we are on the business model, while the rest of the model for the business agent. We focus in the field of leisure has been seven years, through the accumulation of our brand, products and services have established very good advantage. This is also our in later growth will continue to provide support, and expand the advantages.

the online travel industry in China’s space is very big, the current value of the whole industry in the 10 billion s, but we have seen in Europe and the related areas (such as priceline, tripadviser) value is $100 billion, China’s online travel market will reach the corresponding level. At present still should consider how to make big cake, strengthen the core competitiveness.

sina: how to profit?

in Kingston: in the long run, profit is absolutely no problem. But now the point is how to further expand market share. In the first half of this year we are in the brand, products and services to increase investment. China tourism online penetration rate is only 7.7% at present, the scale is relatively small, fast growth, we believe that through this way, expand market share. As the market share and scale growth, profit is no problem. Could see that in the report, our gross margin in improving scale increasing, the rate decrease, this development is a very stable earnings beat, we also want to keep the rhythm, to provide better service to our customers. Profit is not a difficult thing, have certain plan.

sina: profit belongs to one of your short-term goals?

in Kingston: he is not a short-term goal, is a long-term goal.

sina: short term is one year?

in Kingston: given less convenient time. We think development space is very big still, our current city covers rarely, only 64 origin, including the increase of the offline service center. This is now more important work.

sina: we also see the way cattle with ctrip, qihoo industry leading cooperation and competition, how to deepen cooperation to achieve substantial breakthrough after listed?

in Kingston: qihoo is one of our important partners, qihoo has invested us $5 million this time. After further communication and cooperation. Ctrip also invested $15 million in the IPO, our relationship with ctrip is not competitors. We have a big difference on the business. Our online with advantage more, mainly is the leisure tourism customer, ctrip business customers. From the destination, we outbound tourism accounted for more than 70% of the amount, ctrip is mainly domestic. The purchase of products, we mainly open, we through the more than 3000 partners together with each destination best products. Ctrip is more himself production and sales. So there are differences complementary relationship on business. So in the future will have more cooperation in the product. Second, ctrip is bullish on us, 7 years of development in the field of leisure also established high threshold, ctrip don’t feel the need to repeat a, investment we is a better choice. Third, the rate of online market development will be very big, global hotel reservation, Chinese companies do enough, life service area also has the very big development space. The industry consensus now is how to make big cake, rather than vicious competition.

sina: overseas tourism consider work with international partners?

in Kingston: there are very many destinations worldwide partners to cooperation, through our Tours in the above will work with hotel and company. Join the swimming team cooperation with suppliers. Industry trends in the same way as we foresee seven years ago, will be more focused on the division of labor, market elaboration. Supply chamber of commerce pay more attention to the local resources and products, so we need assistance to service customers.

sina: something about the combination of online and offline?

in Kingston: online and offline combined together. Through wireless Internet, PC to the Internet, including more than 400 people travel consultants and more than 15 cities starting center combined together to help customers. Commuting can get in touch with us through wireless, get in touch by phone, when the visa materials problems can contact the local service center. This service customers a variety of methods, we is growing rapidly, on the wireless radio is important development trend. 25% of our traffic and orders from the radio. Our guest unit price in the Chinese e-commerce is one of the highest, to thousands of dollars. The guest unit price for our good service experience, do online is absolutely not enough.