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 Elong (NASDAQ:LONG)

Friday, August 8, 2014
Comments & Business Outlook

Second Quarter 2014 Unaudited Financial Results

  • Net revenues for the second quarter increased 25% to RMB292.4 million (US$47.1 million), compared to RMB234.3 million (US$38.2 million) in the second quarter of 2013. Total revenues for the second quarter increased to RMB312.4 million (US$50.4 million).
  • Basic net income per ADS and diluted net income per ADS for the second quarter of 2014 was RMB0.90 (US$0.14) and RMB0.88 (US$0.14) respectively, compared to basic net loss per ADS and diluted net loss per ADS of RMB2.20 (US$0.36) in the prior year quarter.

"In the second quarter, our lodging network grew to 120,000 contracted properties in China and nearly 325,000 properties worldwide. Every day our mobile applications provide real savings to our customers with tens of thousands of discounted lodging products, including pre-paid, flash sale, last minute and groupbuy products. With our broad range of accommodations products and attractive discounts, mobile has now become our largest booking channel, surpassing 60,000 transactions on peak days," said Guangfu Cui, Chief Executive Officer of eLong.

Business Outlook

eLong currently expects net revenues for the third quarter of 2014 to increase by 10% to 20% compared to the third quarter of 2013. This outlook reflects eLong's current and preliminary view, which is subject to change.


Thursday, May 22, 2014
Joint Venture

BEIJING, May 22, 2014 /PRNewswire/ -- eLong, Inc. (Nasdaq: LONG), a leading mobile and online travel service provider in China, today announced that eLong and Tongcheng Network Technology Share Co., Ltd. ("Tongcheng") have entered into an agreement terminating their Strategic Cooperation Agreement.

In exchange for termination of the strategic cooperation agreement, Tongcheng agreed to pay eLong RMB 30 million, and paid this amount on May 22, 2014. eLong has agreed to provide hotel inventory, and to pay commission for hotel bookings, through May 23, 2014. The parties have also agreed that any future commercial cooperation will be negotiated at a later date.


Thursday, April 10, 2014
Comments & Business Outlook

BEIJING, April 10, 2014 /PRNewswire/ -- eLong, Inc. (Nasdaq: LONG), a leading mobile and online travel service provider in China, today announced that eLong and Tongcheng Network Technology Share Co., Ltd. ("Tongcheng") have entered into a Strategic Cooperation Agreement. Tongcheng (www.LY.com) is a leading PRC online travel agency focused on leisure travel and based in Suzhou, China.

Under the agreement, eLong will become the exclusive provider of agency hotel and group-buy hotel inventory for Tongcheng in mainland China, and Tongcheng will become the exclusive provider of scenic attraction ticket inventory for eLong.

"We are delighted to reach agreement to provide eLong's outstanding PRC hotel inventory to Tongcheng, and to expand our own product offerings by providing scenic attraction tickets. We believe this is a win-win for travelers, for eLong and for Tongcheng," said Guangfu Cui, Chief Executive Officer of eLong.

"With this agreement we will provide an expanded selection of hotel offerings for our customers, and will focus our resources to build on our leading position in the scenic attraction ticket and leisure travel markets in China," said Wu Zhixiang, Chief Executive Officer of Tongcheng.


Thursday, February 20, 2014
Comments & Business Outlook

Fourth Quarter 2013 Financial Results

  • Net revenues for the fourth quarter increased 25% to RMB261.0 million (US$43.1 million), compared to RMB208.8 million(US$33.5 million) in the fourth quarter of 2012.
  • Basic net loss per ADS and diluted net loss per ADS for the fourth quarter of 2013 were each RMB1.26 (US$0.22), compared to basic net income per ADS and diluted net income per ADS of RMB0.16 (US$0.02) in the prior year quarter.

"In 2013, our hotel room nights grew 60% setting an eLong record of 25.8 million room nights stayed. We also achieved two important company milestones with gross bookings* surpassing RMB10 billion and net revenues exceeding RMB1 billion for the first time in our history," said Guangfu Cui, Chief Executive Officer of eLong. "We continue to execute our mobile hotel strategy and upgrade our mobile user experience, including recently launching train ticket booking and WeChat payment on our mobile Apps."

Business Outlook

eLong currently expects net revenues for the first quarter of 2014 to increase by 10% to 20% compared to the first quarter of 2013. This outlook reflects eLong's current and preliminary view, which is subject to change.


Thursday, January 2, 2014
Comments & Business Outlook

BEIJING, January 2, 2014 /PRNewswire/ -- eLong, Inc. (Nasdaq: LONG), a leading mobile and online travel service provider in China, announced that, effective January 2, 2014, listing of the company's American depositary shares will be transferred to the NASDAQ Global Select Market.

NASDAQ-listed companies are classified in three listing tiers: NASDAQ Global Select Market, NASDAQ Global Market and NASDAQ Capital Market. The NASDAQ Global Select Market is the highest of the three tiers. Prior to transfer to the NASDAQ Global Select Market, eLong shares traded on the NASDAQ Global Market.

"We are delighted that NASDAQ recognized our high quality business and governance standards by selecting eLong for inclusion in its top tier market," said Guangfu Cui, eLong's Chief Executive Officer.

American depositary shares of the company will continue to trade under the ticker symbol LONG.


Thursday, November 14, 2013
Comments & Business Outlook

Third Quarter 2013 Financial Results

  • Total revenues increase 49% from RMB316.0 from last years RMB211.9
  • Basic net loss per ADS and diluted net loss per ADS for the third quarter of 2013 were each RMB1.44 (US$0.24), compared to basic net loss per ADS and diluted net loss per ADS of RMB0.96 (US$0.16) in the prior year quarter.

"In Q3, we achieved a record of 7.7 million quarterly hotel room nights stayed, a 68% increase year-on-year," said Guangfu Cui, Chief Executive Officer of eLong. "We are executing our mobile hotel strategy and constantly upgrading our mobile user experience. eLong mobile apps have achieved 35 million cumulative downloads, and mobile comprises more than 25% of our total hotel bookings."

Business Outlook

eLong currently expects net revenues for the fourth quarter of 2013 to increase by 20% to 30% compared to the fourth quarter of 2012. This outlook reflects eLong's current and preliminary view, which is subject to change.


Wednesday, October 16, 2013
Company Rebuttal

BEIJING, October 16, 2013 /PRNewswire/ -- eLong, Inc. (NASDAQ: LONG), released the following statement regarding a legal dispute with Qunar:

We recently have noticed a number of public statements regarding a contract dispute between eLong and Qunar. We would like to clarify some of the facts relating to this dispute, and set forth our position with respect thereto.

In May 2013, after a temporary suspension of cost-per-click advertising cooperation, an eLong subsidiary entered into two contract amendments with a Qunar affiliate ("Beijing Quna") regarding hotel inventory redistribution (together, the "Agreement"). Under the Agreement, eLong is to provide Qunar with PRC domestic agency hotel inventory, PRC domestic pre-pay hotel inventory and international hotel inventory, pursuant to a revenue share arrangement. The Agreement specifies that domestic agency hotel inventory would be provided first, and pre-pay hotel and international hotel would be provided subsequently, and states that the parties would separately finalize commission and settlement terms and procedures for the pre-pay and international hotel inventory.

Under the Agreement, Qunar is obligated to sell at least 900,000 stayed room nights of eLong-provided hotel inventory between July 1, 2013 and December 31, 2013, including 450,000 room nights quarterly between July 1, 2013 and September 30, 2013, and 450,000 between October 1, 2013 and December 31, 2013. The Agreement also requires Qunar to sell a higher number of room nights of eLong inventory during the future period betweenJanuary 1, 2014 and June 30, 2016, and stipulates that the rate of increase must be at least 70% of Qunar's prior year fourth quarter hotel room night growth rate. If Qunar fails to meet the sales targets, the Agreement specifies that Qunar is to compensate eLong by providing advertising credit at a rate of RMB27 per room night, and such compensation is to be paid within 20 days after the end of each calendar quarter. Thus, under the terms of the Agreement, and without estimating any future growth rate, Qunar has committed to sell a total of 5.4 million stayed room nights of eLong hotel inventory during the period between July 1, 2013 and June 30, 2016, and to pay compensation of RMB 27 for each room night less than the sales target (e.g. if no room nights sold, RMB145.8 million = 5.4 million x 27 RMB per room night).

We believe we have faithfully carried out our obligations under the Agreement, and that Qunar breached the Agreement by seeking early termination without legal or contractual basis. To protect our interests, on September 11, 2013, we filed suit against Beijing Quna, and the Court in Beijing has scheduled the first hearing for this case in late October. In this action, we seek a resumption of cooperation under the terms of the Agreement and damages for our losses. We will continue to take all appropriate and necessary steps to protect our legal interests.


Thursday, September 19, 2013
Notable Share Transactions

BEIJING, Sept. 18, 2013 /PRNewswire/  eLong, Inc. (NASDAQ: LONG), today announced grants of approximately 6.3 million restricted share units (currently equivalent to approximately 3.15 million eLong American Depository Shares) to its chief executive officer and other members of its senior management. The grants are intended to further increase the alignment of eLong's senior management team with eLong's shareholders while they continue to drive eLong's performance as a leader in China's mobile and online travel market.

Guangfu Cui, eLong's Chief Executive Officer and Board member, will receive approximately 4 million restricted share units, with other members of eLong's senior management receiving the balance. In both cases, half of the restricted share units will vest in equal annual increments over a five-year period, and half will vest in three equal increments if eLong achieves certain operational and financial performance targets. Vesting for each recipient is also subject to continued employment with eLong through each applicable vesting date. Upon vesting, eLong will deliver one ordinary share for each restricted share unit. Currently, each eLong American Depository Share represents two ordinary shares.

"We consider Guangfu and his team true partners in building the eLong brand in the highly competitive Chinese travel sector. This is a team that has delivered by gaining share versus its biggest competitor since the first quarter of 2010, and remains on track to continue growing and gaining share going forward," said Dara Khosrowshahi, Chief Executive Officer of Expedia, Inc. "These grants reflect our partnership and help us ensure the team remains aligned with shareholders and focused on the enormous long-term opportunity thatChina represents."

In connection with the grants, eLong's Board of Directors also amended the 2009 Share and Annual Incentive Plan increasing the total number of authorized shares from 12 million to 17 million.   


Thursday, August 15, 2013
Comments & Business Outlook

Second Quarter 2013 Financial Results

  • Net revenues for the second quarter increased 27% to RMB234.3 million (US$38.2 million), compared toRMB185.0 million (US$29.1 million) in the second quarter of 2012.
  • Basic net loss per ADS and diluted net loss per ADS for the second quarter of 2013 were each RMB2.20(US$0.36), compared to basic net income per ADS and diluted net income per ADS of RMB0.46 (US$0.08) in the prior year quarter.

"We see an accelerating trend towards mobile hotel bookings, which comprised more than 20% of our hotel room nights in Q2, surpassing our call centers to become our second largest hotel booking channel," saidGuangfu Cui, Chief Executive Officer of eLong. "To capture this great market opportunity, we have moved from an online hotel strategy to a mobile hotel strategy. We are also establishing a US$100 million fund to encourage innovation in this fast-growing area."

Business Outlook

eLong currently expects net revenues for the third quarter of 2013 to increase by 35% to 45% compared to the third quarter of 2012. This outlook reflects eLong's current and preliminary view, which is subject to change.


Monday, June 10, 2013
CFO Trail

BEIJING, June 8, 2013 /PRNewswire/ -- eLong, Inc. (Nasdaq: LONG), a leading online travel company in China, today announced the appointment of Rong Luo as the Company's Chief Financial Officer, effective June 8, 2013 (Beijing Time).

Prior to joining eLong, Mr. Luo was finance senior manager (China) for the Lenovo Group, and, prior to Lenovo, held a number of positions in Beijing and Seattle in the finance function of the Microsoft Corporation, including analyst, manager and senior manager. Mr. Luo holds a double major Bachelor's Degree in Economics and Information Management & Systems from Peking University, a Master's Degree in Management Science and Engineering from Tsinghua University, and is a PhD candidate in Management of Information Sciences at Peking University.

"We are delighted to welcome Rong Luo as our new CFO, and are confident he will make significant contributions to eLong's growth and development," said Guangfu Cui, Chief Executive Officer of eLong.


Tuesday, May 14, 2013
Comments & Business Outlook

First Quarter 2013 Financial Results

  • Net revenues increased 42% to RMB217.4 million (US$35.0 million), compared to RMB153.2 million(US$24.3 million) in the first quarter of 2012.
  • Net income for the first quarter of 2013 was RMB2.8 million, compared to net income of RMB11.9 million during the prior year quarter.
  • Basic net income per ADS and diluted net income per ADS for the first quarter of 2013 were each RMB0.08 (US$0.012), compared to basic net income per ADS and diluted net income per ADS of RMB0.34 (US$0.06) in the prior year quarter.

"In Q1, we further expanded our hotel booking market share and further strengthened our brand proposition of 'Book Hotel, Use eLong'," said Guangfu Cui, Chief Executive Officer of eLong. "We are also seeing terrific growth in mobile bookings which now comprise more than 15% of our room nights. We will continue to invest in mobile and execute our mobile and online hotel strategy.

Business Outlook

eLong currently expects net revenues for the second quarter of 2013 to increase by 15% to 25% compared to the second quarter of 2012. This outlook reflects eLong's current and preliminary view, which is subject to change.


CFO Trail

CFO Transition

Mike Doyle, eLong's Chief Financial Officer for the past four years, will be leaving the Company on May 31, 2013. "Mike has made outstanding contributions to eLong's growth and development, and we wish him continued success in his future endeavors," saidGuangfu Cui. "I am proud of the progress we have made in turning around eLong's business and in building a strong finance organization. I remain confident in eLong's future and the ability of the team to achieve our objective to become China's largest online hotel booking service provider," said Mike Doyle.

eLong has appointed Philip Yang, as Interim CFO and Chief Accounting Officer, effective June 1, 2013. Mr. Yang is currently Vice President of Finance and Financial Controller of eLong. "Philip has been a trusted leader in our finance department for nearly seven years, and I am delighted that he will now assume a larger role in the execution of our mobile and online hotel strategy. In addition, we are considering external candidates to further strengthen our finance leadership team," said Guangfu Cui.

Since joining eLong in 2006, Mr. Yang has held a number of leadership positions within eLong's Finance department, including Internal Audit Director and Financial Controller. Prior to joining eLong, Mr. Yang was a senior auditor with Deloitte Touche Tohmatsu and also previously worked at Protiviti and TOM Group Limited. Mr. Yang is a graduate of Beijing Polytechnic University with a Bachelors Degree of Business Administration and Civil Engineering. He is a PRC Certified Public Accountant and a Certified Management Accountant.


Friday, February 22, 2013
Comments & Business Outlook

Fourth Quarter 2012

  • Net revenues increased 32% to RMB208.8 million (US$33.5 million), compared to RMB158.2 million(US$25.1 million) in the fourth quarter of 2011.
  • Net income for the fourth quarter of 2012 was RMB5.7 million, compared to net income of RMB15.0 million during the prior year quarter.
  • Net income per ADS and diluted net income per ADS for the fourth quarter of 2012 were each RMB0.16 (US$0.02), compared to net income per ADS and diluted net income per ADS of RMB0.44 (US$0.08) in the prior year quarter.

"In a dynamic and highly competitive marketplace, eLong performed well in 2012. More and more customers trust eLong to fulfill their hotel booking and travel needs, and we are also now increasingly seen as an innovator in the online travel market through our broad hotel coverage, market-leading hotel groupbuy business and outstanding mobile apps. Our online hotel strategy is bearing fruit and we will continue our focused execution with an increased emphasis on mobile in 2013," said Guangfu Cui, Chief Executive Officer of eLong.

Business Outlook

eLong currently expects net revenues for the first quarter of 2013 to increase by 20% to 30% compared to the first quarter of 2012. This outlook reflects eLong's current and preliminary view, which is subject to change.


Thursday, November 15, 2012
Comments & Business Outlook

Third Quarter Results

  • Net revenues  increased 20% to RMB197.3 million (US$31.4 million), compared to RMB164.3 million (US$25.8 million) in the third quarter of 2011.
  • Net loss for the third quarter of 2012 was RMB33.1 million, compared to net income of RMB9.4 million during the prior year quarter.
  • Net loss per ADS and diluted net loss per ADS for the third quarter of 2012 were each RMB0.96 (US$0.16), compared to net income per ADS and diluted net income per ADS of RMB0.28(US$0.04) in the prior year quarter.

"In the third quarter, we launched our largest-ever marketing campaign, featuring our 'Book Hotel, Use eLong' branding and increased coupon promotions. The campaign contributed to significantly improved brand awareness and growth in our market share. It did come with a price, but we are willing to take a short-term loss for long term gain. Going forward, we will continue with our online hotel strategy, invest aggressively and drive harder," said Guangfu Cui, Chief Executive Officer of eLong.

"We are strong believers in the eLong team and their ability to grow and continue to gain share in China. We are just getting started," said Dara Khosrowshahi, President and Chief Executive Officer of Expedia

Business Outlook

eLong currently expects net revenues for the fourth quarter of 2012 to increase by 15% to 25% compared to the fourth quarter of 2011. This outlook reflects eLong's current and preliminary view, which is subject to change.


Tuesday, August 21, 2012
Comments & Business Outlook

2nd Quarter Highlights

  • Net revenues for the second quarter increased 33% to RMB185.0 million (US$29.1 million), compared to RMB139.1 million (US$21.5 million) in the second quarter of 2011.
  • Net income for the second quarter increased to RMB16.0 million (US$2.5 million), compared to RMB7.1 million (US$1.1 million) in the prior year period.
  • Net income per ADS and diluted net income per ADS for the second quarter of 2012 were each RMB0.46 (US$0.08), compared to net income per ADS and diluted net income per ADS of RMB0.26 (US$0.04) and RMB0.24 (US$0.04) respectively in the prior year quarter

"In the second quarter, eLong delivered a record high number of hotel room nights, was the clear leader in hotel group buy, and continued to gain market share in the hotel booking segment," said Guangfu Cui, Chief Executive Officer of eLong. "In the third quarter, we have launched our largest-ever marketing campaign to drive awareness of our brand, innovative products and services."

Business Outlook

eLong currently expects net revenues for the third quarter of 2012 to increase by 10% to 20% compared to the third quarter of 2011. This outlook reflects eLong's current and preliminary view, which is subject to change.


Monday, June 18, 2012
Notable Share Transactions

BEIJING, June 18, 2012 /PRNewswire-Asia/ -- The Executive Committee of the Board of Directors of eLong, Inc. (the "Company"), acting on behalf of the Company's Board of Directors, has approved a new share repurchase program.

Under the repurchase program, the Company may purchase ordinary shares of the Company, including American depositary shares ("ADSs"), with a total value at the time of purchase of up to US$30 million. The Company currently expects to fund the repurchases out of its cash on hand.

The repurchase program is for an indefinite period, and does not obligate the Company to purchase a particular number of shares during any period. In addition, the Company may modify, suspend or terminate the program at any time. Share repurchases may be effected in the open market and/or pursuant to privately negotiated transactions.

Share repurchases will be conducted in accordance with the applicable rules and regulations of the Securities and Exchange Commission.


Friday, February 24, 2012
Comments & Business Outlook

Highlights - Fourth Quarter 2011

  • Hotel room nights booked through eLong in the fourth quarter increased 50% to 2.6 million room nights compared to 1.7 million in the prior year period.
  • Net revenues for the fourth quarter increased 27% to RMB158.2 million (US$25.1 million), compared toRMB124.1 million (US$18.8 million) in the fourth quarter of 2010.
  • Net income for the fourth quarter increased to RMB15.0 million (US$2.4 million), compared to RMB4.2 million (US$0.6 million) in the fourth quarter of 2010.
  • Domestic hotel coverage network expanded 48% to over 25,500 domestic hotels as of December 31, 2011, compared to 17,200 as of December 31, 2010. In addition, eLong offers almost 149,000 international hotels through a direct connection to Expedia.
  • Online hotel bookings in the fourth quarter were approximately 63% of total hotel bookings, compared to 45% in the same period in 2010.
  • In December 2011, monthly room nights booked through eLong's group buy channel exceeded 100,000 for the first time.
  • Received China's 2011 Best Online Travel Service Provider award as selected through an online poll organized by Sohu and Ipsos.

"We continue to execute on our online hotel-focused strategy and customers are enthusiastically responding. During the quarter, we launched customer enhancements to both our award-winning online and developing mobile channels driving additional customers to our rapidly increasing supply of hotels, including over 25,500 domestic and almost 149,000 international hotels," said Guangfu Cui, Chief Executive Officer of eLong.


Tuesday, November 15, 2011
Comments & Business Outlook

Third Quarter 2011 Results

  • Net revenues increased 19% to RMB164.3 million (US$25.8 million), compared to RMB137.8 million (US$20.6 million) in the third quarter of 2010.
  • Net income per ADS and diluted net income per ADS for the third quarter of 2011 were RMB0.28 (US$0.04), compared to net income per ADS and diluted net income per ADS for the prior year quarter of RMB0.04 (US$0.01).

"Our customers continue to respond strongly to our market leading hotel network of over 23,000 domestic hotels and 145,000 international hotels, our easy-to-use hotel website and mobile applications and our competitive prices. In addition, we continue to drive innovation in the travel sector through our Group Buying and Last-Minute hotel offerings," said Guangfu Cui, Chief Executive Officer of eLong. "I am also pleased to report that approximately sixty percent of our hotel customers now book online at eLong.com and through our mobile applications."

Business Outlook

eLong currently expects net revenues for the fourth quarter of 2011 to be within the range of RMB143 million to RMB155 million, equal to an increase of 15% to 25% compared to the fourth quarter of 2010.


Tuesday, August 9, 2011
Comments & Business Outlook

Highlights -- Second Quarter 2011

  • Online hotel bookings in the second quarter were approximately 55% of total hotel bookings, exceeding call center hotel bookings for the first time in eLong's history.
  • Net revenues for the second quarter increased 17% to RMB139.1 million (US$21.5 million), compared to RMB118.9 million (US$17.5 million) in the second quarter of 2010.
  • Hotel room nights booked through eLong in the second quarter increased 43% to 2.2 million room nights compared to 1.5 million in the prior year period.
  • Domestic hotel coverage network expanded 72% to over 21,000 domestic hotels as of June 30, 2011, compared to 12,200 as of June 30, 2010. In addition, eLong offers almost 140,000 international hotels through a direct connection to Expedia.
  • In July, launched first initiatives with Tencent. Integrated eLong hotel inventory on go.qq.com and eLong group buy hotel inventory on tuan.qq.com. Began cooperation on travel content with trip.elong.com.

"eLong's online hotel bookings in Q2 were over 50% of our total hotel bookings the first time ever. This milestone is the result of our focused online strategy and the appealing breadth and competitive prices of our over 21,000 hotels, the largest directly bookable hotel network in China. It also demonstrates customers' continuing transition to online booking as the preferred hotel booking method in China," said Guangfu Cui, Chief Executive Officer of eLong.

Business Outlook

eLong currently expects net revenues for the third quarter of 2011 to be within the range of RMB152 million to RMB165 million, equal to an increase of 10% to 20% compared to the third quarter of 2010.


Thursday, June 30, 2011
Liquidity Requirements
Our capital expenditures totaled RMB32.9 million, RMB12.0 million and RMB17.6 million (US$2.7 million) in 2008, 2009, and 2010, respectively. Our capital expenditures in 2010 related primarily to purchases of software, computer equipment, servers and computer software to support the development of our business. Capital expenditures in 2011 have been, and are expected to continue to be, funded through operating cash flows and through our existing capital resources.

Tuesday, May 17, 2011
Comments & Business Outlook

First Quarter Results:

  • Net revenues for the first quarter increased 23% to RMB124.5 million (US$19.0 million), compared to RMB101.1 million (US$14.8 million) in the first quarter of 2010.
  • Income from operations for the first quarter increased 111% to RMB13.2 million (US$2.0 million), compared to RMB6.3 million (US$0.9 million) in the prior year period. Operating margin was 10.6% compared to 6.2% in the first quarter of 2010.
  • Net income for the first quarter increased 30% to RMB7.7 million (US$1.2 million), compared to RMB5.9 million (US$0.9 million) in the first quarter of 2010.

"In the first quarter, eLong accelerated the growth of its core online hotel business. We were pleased to see nearly half of our customers now choosing to book hotel online. We expect our hotel online bookings will for the first time exceed our call center bookings in the second quarter. This is a great milestone for both eLong's online hotel booking strategy and China's online travel industry! We also continued to drive product innovation with our next generation iPhone application which is currently in the Top 10 travel downloads in China's iTunes App Store," said Guangfu Cui, Chief Executive Officer of eLong.

  • Net income per ADS and diluted net income per ADS for the first quarter of 2011 were RMB0.32 (US$0.04) and RMB0.30 (US$0.04) respectively, compared to net income per ADS and diluted net income per ADS for the prior year quarter of RMB0.26 (US$0.04) and RMB0.24 (US$0.04) respectively.

Friday, February 18, 2011
Comments & Business Outlook

Fourth Quarter Results:

  • Net revenues for the fourth quarter increased 23% to RMB124.1 million (US$18.8 million), compared to RMB100.9 million (US$14.8 million) in the fourth quarter of 2009.
  • Income from operations for the fourth quarter increased to RMB12.6 million (US$1.9 million), compared to RMB2.4 million (US$0.3 million) in the prior year period. 
  • Net income increased to RMB4.2 million (US$0.6 million), compared to RMB1.0 million (US$0.1 million) in the fourth quarter of 2009.
  • Net income per ADS and diluted net income per ADS for the fourth quarter of 2010 were RMB0.18 (US$0.02) and RMB0.16 (US$0.02) respectively, compared to both net income per ADS and diluted net income per ADS of RMB0.04 (US$0.01) in the prior year quarter.
  • Adjusted diluted net income per ADS for the fourth quarter of 2010 were US$0.04 and RMB0.16 (US$0.02)compared to $0.01 in the prior year quarter.

Guidance:

eLong currently expects net revenues for the first quarter of 2011 to be within the range of RMB111 million to RMB121 million, equal to an increase of 10% to 20% compared to the first quarter of 2010.

"In 2010, eLong really accelerated the growth of its core online hotel business. Room night growth was 49% year-on-year as our customers welcomed the real savings available from our coupon program, and our expanded hotel coverage network of over 17,200 domestic and 130,000 international hotels. We were also pleased to see the positive customer response to our much improved website booking experience with over 45% of our customers now choosing to book online," said Guangfu Cui, Chief Executive Officer of eLong.


Thursday, November 11, 2010
Comments & Business Outlook

Highlights - Third Quarter 2010

  • Net revenues increased 42% to RMB137.8 million, compared to RMB97.2 million in the third quarter of 2009.
  • Income from operationsincreased 104% to RMB12.0 million, compared to RMB5.9 million in the third quarter of 2009. Operating margin was 8.7% compared to 6.1% in the third quarter of 2009.
  • Net income for the third quarter of 2010 wasRMB1.2 million, compared to net income of RMB7.5 millionduring the prior year quarter.
  • Net income per ADS and diluted net income per ADS for the third quarter of 2010 were RMB0.04, compared to net income per ADS and diluted net income per ADS for the prior year quarter of RMB0.32 and RMB0.30, respectively.
  • Non-GAAP per ADS was $0.60 vs. $0.42

Business Outlook

eLong currently expects net revenues for the fourth quarter of 2010 to be within the range of RMB116 million to RMB126 million, equal to an increase of 15% to 25% compared to the fourth quarter of 2009.