Lei Zhang Now Owns 12.99% Of This Chinese Company (Which Is Up By 70% This Year)

Besides, Qunar has recently received an unsolicited offer from Ctrip.com International Ltd. (NASDAQ:CTRP) to acquire the company’s outstanding shares. Nevertheless, China’s leading mobile and online travel platform declined the offer, which simply indicates that the company is confident in its future strong performance and growth. Despite the fact that Qunar has been reporting persistent losses lately, the company is considered to be one of the fastest growing online travel agencies (OTAs) in China. Only time will tell whether the losses that the company has been incurring can be reversed or not, but Qunar’s management seems optimistic about their activities and development in the Chinese market.

Finally, let’s take a quick look at the financial performance of Qunar so as to get a picture of the current financial health and sustainability of the company. The company reported total revenues of RMB671.1 million (US$108.13 million) for the first fiscal quarter of 2015 that ended on March 31, which marks an increase of 100% year-over-year. At the same time, the revenues generated from mobile devices surged by 275.7% year-over-year, reaching a figure of RMB398.5 million (US$64.21 million), representing 59.4% of total revenues. Despite the fact that the company reported a net loss of RMB701.2 million ($113.1 million), which is substantially higher than the RMB183.6 million (US$29.58 million) figure for the same period a year ago, Qunar’s management is very pleased with the company’s financial performance. The chief executive officer and co-founder of Qunar, Chenchao Zhuang, claimed that the company is one of the largest and fastest growing e-commerce companies in China and the company has delivered year-over-year revenue growth of over 100% for the fourth consecutive quarter, which surely indicates that Qunar is on the right path. Daniel S. Och’s OZ Management is one of the largest shareholders in Qunar Cayman Islands Limited (NASDAQ:QUNR), owning as much as 2.60 million shares valued at $107.23 million at the end of the most recent quarter.

Disclosure: None