Tag Archives: Qunar

Qunar company news. Find out the latest breaking news for Qunar Cayman Islands Limited (QUNR).
Overview of an expert, doug Young.
Qunar, one of China’s largest online travel booking platforms, plans to expand its mobile business with a new $500 million investment

TRAVEL: Ctrip Revs up in Q4, Set to Soar?

Bottom line: Ctrip’s profits could double or more this year following its successful digestion of Qunar, providing some upside to its stock.

Ctrip shares set to take off?

As earnings season for US-listed Chinese stocks hits full throttle, I thought I’d take a look at the latest results from Ctrip (Nasdaq: CTRP), which are sending mixed but generally positive signals. That’s because Ctrip is in the process of digesting former archrival Qunar (Nasdaq: QUNR), which was the industry’s second largest player but is also losing quite a bit of money.

Ctrip pulled off the coup of the century a couple of years ago when it forged a deal that gave it a controlling stake of Qunar, acquiring the shares from former majority shareholder Baidu (Nasdaq: BIDU). I personally thought that deal should have received some regulatory scrutiny since it combined the top two players in the space. But the regulator apparently thought otherwise, or simply approved the deal if it was even asked. Read Full Post…

INTERNET: Baidu Tackles Profit-Challenged Nuomi, Takeout Dining

Bottom line: Baidu could soon make big cuts at Nuomi and sell or spin off the unit by year end, while it will also put its takeout dining unit on a strict diet that forces it to show a clear path to profitability by year end.

Nuomi set for haircut in 2017?

After years of hemorrhaging money from its newer online-to-offline (O2O) businesses, leading search engine Baidu (Nasdaq: BIUD) may finally be saying enough is enough. That seems to be the message coming from new reports that say the company has launched a campaign to improve performance at its massive businesses that combine real-world services like watching movies and buying restaurant food with web-based ordering systems.

The reports point to Baidu’s Nuomi group buying site as a particular center where the clean-up campaign has begun, but I also suspect a similar move may be taking place at its equally massive and money-losing takeout dining service. That pair of new businesses are massive cash-burners at Baidu, alongside the company’s iQiyi online video service and its Qunar (Nasdaq: QUNR) online travel agent. Read Full Post…

TRAVEL: Ctrip Takes Aim at Airbnb with Tujia Tie-Up

Bottom line: Homestay specialist Tujia could make a play to  merge with the China operations of Airbnb, following its major new tie-up with leading online travel sites Ctrip and Qunar. 

Ctrip ties with Tujia

Leading online travel agent Ctrip (Nasdaq: CTRP) is back to doing what it knows best, neutralizing competition through formation of savvy alliances with its rivals. In this case the company is taking aim at the market for short-term stays at private homes, with its announcement of a major new tie-up with homegrown industry leader Tujia. That alliance is seeing Ctrip merge its own homestay business with Tujia, in what looks like a clear shot at global leader and sector pioneer Airbnb. Read Full Post…

China News Digest: October 21, 2016

The following press releases and news reports about China companies were carried on October 21. To view a full article or story, click on the link next to the headline.

  • China Mobile (HKEx: 941) Announces Financial Results for First 3 Quarters (HKEx announcement)
  • Homestay Business of Ctrip (Nasdaq: CTRP) and Qunar Acquired by Tujia (PRNewswire)
  • China iOS App Store Passes US in Sales to Become World’s Largest – Report (Chinese article)
  • Walmart (NYSE: WMT) Opens Flagship Store on JD.com (Nasdaq: JD) (Chinese article)
  • Giant Interactive to Buy Online Game Maker Playtika for 30.5 Bln Yuan (Chinese article)
  • Latest calendar for Q2 earnings reports (Earnings calendar)

China News Digest: October 20, 2016

The following press releases and news reports about China companies were carried on October 20. To view a full article or story, click on the link next to the headline.

  • LeEco Launches in US With Phones, TVs and Paid Video Streaming Service (English article)
  • Starbucks (Nasdaq: SBUX) Targets 5,000 Stores in Mainland China by 2021 (Businesswire)
  • Alibaba (NYSE: BABA), Suning in 1 Bln Yuan E-Commerce JV (Chinese article)
  • B2B Wine E-commerce Platform E Jiupi Wins $100 Mln Series C Funding (English article)
  • Qunar (Nasdaq: QUNR) Enters Into Definitive Agreement for Going Private (GlobeNewswire)
  • Latest calendar for Q2 earnings reports (Earnings calendar)

China News Digest: October 18, 2016

The following press releases and news reports about China companies were carried on October 18. To view a full article or story, click on the link next to the headline.

  • Qualcomm (Nasdaq: QCOM) Files Patent Suits Against Meizu in US, Germany, France (Chinese article)
  • US Approves NXP (Nasdaq: NXPI) to Sell Standard Products Business to China Buyer (GlobeNewswire)
  • Wanda Hires ex-Disney (NYSE: DIS) Exec to Lead Theme Park Drive – Source (English article)
  • Qunar (Nasdaq: QUNR) Resumes Relationship With Airlines After 3 Month Break (Chinese article)
  • Suntech Announces Withdrawal from EU Price Undertaking (PRNewswire)
  • Latest calendar for Q3 earnings reports (Earnings calendar)

IPOs: Toncheng Goes Slow, ZTO Express Hits Doubters

Bottom line: Tongcheng’s lack of hurry to make an IPO reflects confidence about its cash position due to new backing from Wanda, while ZTO’s high profitability looks unusual amid huge losses reported by most of its rivals.

Tongcheng in no hurry to IPO

A couple of IPO stories are in the headlines as the new week begins, led by word that online travel site Tongcheng  is in no hurry to make a listing, following its link-up last week with the cash-rich Wanda Group. At the same time, delivery company ZTO Express, which is in a bigger hurry to list, is raising some doubts among observers who say the fat profits announced in its IPO prospectus are at huge contrast with peers in China’s highly competitive parcel delivery sector. Read Full Post…

TRAVEL: Wanda Challenges Ctrip with Tongcheng Merger

Bottom line: Tongcheng’s merger with Wanda’s travel unit could create a strong new rival to counter Ctrip, and could become even stronger through a potential future tie-up or merger with HNA-backed Tuniu.

Tongcheng merges with Wanda Travel

For more than a year Internet giant Ctrip (Nasdaq: CTRP) has seemed almost invincible, buying up most of its major rivals one by one to consolidate its position as the nation’s leading travel agent. But the company may finally be coming up against a major rival in its bid to dominate the lucrative sector, with word that real estate and entertainment giant Wanda has bought up Tongcheng, one of Ctrip’s  last remaining  major rivals.

This particular tie-up is slightly unusual, as Ctrip previously invested around $200 million for a stake  that was reportedly as high as 30 percent in Tongcheng, according to media reports a couple of years ago. (previous post)  That would have valued Tongcheng at about $650 million, which is a fraction of the valuation of more than 20 billion yuan ($3 billion) that Tongcheng was worth, based on the latest investment by Wanda.  Read Full Post…

TRAVEL: Ctrip in $2.2 Bln Cash Raising, Offshore Buy in Sight?

Bottom line: Ctrip’s massive new bond and share offer could raise up to $2.2 billion, and portends a major offshore acquisition in the next 6 months.

Ctrip in $2.2 bln cash raising plan

Online travel agent Ctrip (Nasdaq: CTRP) has just announced a complex plan to raise up to $2.2 billion in cash, in one of the biggest fund-raising exercises I’ve seen by a Chinese Internet company. The huge sum, combined with Ctrip’s existing large cash reserves, raises the obvious question of what this fast-growing company might be planning to do with all that money. One obvious answer is that Ctrip is planning a major offshore acquisition, reflecting its new global aspirations after quietly eliminating most of its local competition to dominate the lucrative China market. Read Full Post…

INTERNET: Baidu-Meituan Merger Talk Looks Spicy, But Dicey

Bottom line: Rumors that Baidu may be planning to merge its take-out dining and group buying units with Meituan-Dianping are consistent with recent market trends, but are less likely to be true due to Baidu’s strong denial.

Baidu denies merger plan for group buying, dining units
Baidu denies merger plan for group buying, dining units

I normally try to avoid writing about rumors that lack strong foundation, but the latest gossip about a potential new mega tie-up between 2 non-core units of online search leader Baidu (Nasdaq: BIDU) and group buying giant Meituan-Dianping look too spicy to ignore. Baidu came out with a statement late on Tuesday denying any talks were taking place to combine its take-out dining and Nuomi group buying services with Meituan-Dianping. But that said, any veteran China watcher will know that companies frequently deny such rumors even when they’re true. Read Full Post…

INTERNET: Antitrust Watchdog Finally Gets Tough with Didi, Uber

Bottom line: The antitrust regulator’s decision to review Didi’s proposed union with Uber China marks the start of a new era of much-needed government oversight of major Internet mergers.

Antitrust regulator starts review of Didi-Uber union

After years of turning a blind eye to rapid consolidation in many emerging high-tech industries, China’s anti-trust regulator has finally adopted a more active posture with its recent decision to review the proposed landmark merger of homegrown car services firm Didi Chuxing with the Chinese unit of US rival Uber. The announcement by the Ministry of Commerce that the deal would require its approval caught Didi and Uber by surprise, since such a review would be the first for a major Internet deal since China rolled out its anti-monopoly law 8 years ago. Read Full Post…