Tuniu year loss of 2 billion 400 million but did not burn out burn marketing profit model

[Jia Yinghui] financial Beijing time in November 30, 2016, tuniu.com (NASDAQ:TOUR) announced that as of September 30th the third quarterly report of the audit. The third quarter of the way cattle net income was 4 billion yuan, compared with 2015 growth of 35.7% over the same period; the net loss of 571 million 700 thousand yuan in 2015, compared with a net loss of 433 million 700 thousand yuan; the third quarter of 2016, the way cattle travel with the group and tours of the transaction amounted to 5 billion 300 million yuan, an increase of 34.8%.

earnings data from the current point of view, the brand has been reduced marketing costs of the way cattle, the way cattle loss compared with the previous quarter narrowed 710 million yuan, but only because of a decrease in brand marketing costs, with the loss of 430 million yuan last year compared to the same period still the chain expanded, while the market seems to be more is not optimistic about the way cattle money scene, until now, the way cattle stock a the way down, opened at $7.81 per share, to close at $8.44 / share, compared with a peak of $24 per share, has shrunk by almost 1/3, close to the market when the issue price of $9 / share.

from the public financial data calculation, the fourth quarter of last year to the three quarter of this year, the total amount of loss reached 2 billion 420 million yuan tuniu. The huge investment for ten years, and did not let the tuniu hit a turnaround in the market structure, and compared to the way cattle has been regarded as the target to subvert Ctrip, it still a small amount of Ctrip’s turnover last year more than 300 billion yuan, the way cattle and about about 10000000000 yuan, about 1/30 only carrying cheng.

large inputs and will not drop out of the problem in the way cattle, where


brush face less chance, the way cattle brand influence will reduce

it is understood that the past two or three years, the way cattle in the aspect of brand marketing has always been generous burn. Once some people ridicule reality show 10 programs in 8 are tuniu sponsorship, advertising is hit quite loud. Rough statistics, the current tuniu cooperation of the popular variety show "," including "If You Are The One The Brain", "The Voice of China", "flowers and young" and "in the mood", "sister", a "run it brother" etc.. The "brothers" run in the fourth quarter, tuniu ho throw 148 million 500 thousand win special cooperation, under the brand marketing of the "cheap" remarkable.

however, matching with the beautiful sales record is a huge capital investment, nearly four quarters of the way cattle marketing costs showed a rising trend in nearly a year, a total amount of loss reached 2 billion 420 million yuan. Before the loss continues to expand, and generous title run male, have a certain relationship with double endorsements burn means. But the way cattle in the third quarter earnings report also showed that sales and marketing expenses were 499 million 900 thousand yuan ($75 million), an increase of 47.9%, a decline of 19.8%. Compared with the same period in 2015, an increase of 45.4%, compared with the 2016 quarter of two, a decline of 21%. Year on year growth was mainly due to online channel advertising

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