BEIJING: Qunar Cayman Islands Limited, China’s leading mobile and online travel platform, today announced its unaudited financial results for the third quarter ended September 30, 2015.
Highlights for the Third Quarter of 2015
Total revenues for the third quarter of 2015 were RMB1,325.1 million (US$208.5 million), an increase of 164.4% year-on-year.
Gross profit for the third quarter of 2015 were RMB826.8 million (US$130.1 million), an increase of 127.8% year-on-year.
Mobile revenues for the third quarter of 2015 were RMB975.5 million (US$153.5 million), an increase of 381.3% year-on-year, representing 73.6% of total revenues, compared to 40.4% in the corresponding period of 2014.
Total Estimated Flight Ticket volume (TEFT) and Total Estimated Hotel Room-night volume (TEHR) for the third quarter of 2015 were 33.9 million and 22.0 million, respectively, an increase of 49.4% and 119.8% year-on-year.
“Q3 was another strong quarter for Qunar, with year-on-year revenue growth reaching 164% and year-on-year gross profit growth reaching 128%, the sixth consecutive quarter of over 100% revenue growth. The business fundamentals and growth momentum of Qunar continued to be very strong,” said Chenchao (CC) Zhuang, chief executive officer and co-founder of Qunar.
“With mobile revenues up 381% year-on-year and hotel volume up 120% year-on-year in Q3, we are proud of the capabilities of our team to execute on our strategy and to deliver on our key initiatives quarter after quarter,” said Yilu Zhao, chief financial officer of Qunar. “We also experienced substantial margin improvement due to robust gross profit growth and disciplined expenditures.”
“On October 26th, Baidu, Inc., the then largest shareholder of the Company transferred the majority of their ownership interest in the Company to Ctrip.com International, Ltd. With Ctrip becoming our largest shareholder, the two teams are currently exploring ways through which we can effectively cooperate to further strengthen our fundamental capabilities and create greater value for travelers, suppliers and shareholders,” added Mr. Zhuang.
