Tongcheng-Elong Holdings equity, debt and subsidiaries

Accuracy score :
97%

Summary (from the latest annual and quarterly  report – 2018)

  • Total equity: 1.48 billion USD
  • Market Cap is 3.7 billion USD ( the last price of the stock is 14.28 HKD)
  • Tongcheng-Elong Holdings Ltd is an online travel industry. It offers a comprehensive and innovative selection of products and services covering all aspects of travel, including transportation ticketing, accommodation reservation and various ancillary value-added travel products and services
  • Total equity has increased from 825 million USD in 2016 to 1.48 billion in 2018
  • The company has 350 million USD in cash on account
  • Total equity – cash on account = 1.48 billion USD – 350 million USD = 1.13 billion USD
  •  In 2018 the company had 24 million USD long-term debt, short – term debt was 3 million USD                                                         (In 2016 total debt was zero)
  • The company's revenue has increased in the latest 2017 annual report  to 375 million USD from 303 million in 2016
  • Net income in 2017 was 30 million USD, Net loss in 2016 was 300 million USD

 

Opinion about the company

Fundamentally it is a good company and in the future we can expect its growth ( total debt is 27 million USD, big amount of cash on company's account, ROE is N/A).

Tongcheng-Elong Holdings Ltd is the market leader in China's online travel industry. This company is the combined business resulting from the merger of Tongcheng and eLong, the leading OTAs in China. With the mission of "make travel easier and more joyful", Tongcheng-Elong offers a comprehensive and innovative selection of products and services covering nearly all aspects of travel, including transportation ticketing, accommodation reservation and various ancillary value-added travel products and services designed to meet users' evolving travel needs throughout their trips primarily through its online platforms, which comprise its Tencent-based platforms, its mobile apps and its websites and WAP. As a technology-driven company, by leveraging big data and AI capabilities, Tongcheng-Elong can better understand the preferences and behaviors of users and provide them with customized products and services. Through its in-depth understanding of the user experience and advanced technological capabilities, Tongcheng-Elong has been revolutionizing what consumers expect from the online travel industry, making the entire travel process more convenient, personalized and enjoyable than ever.

  • The group’s total revenue was 2.5 billion yuan in 2017 with a profit of 194 million yuan
  • Tongcheng-Elong's total profits in the first six months of 2018 have exceeded its profits for the entire year of 2017
  • The gross merchandise volume (GMV) of China’s online travel market expanded by 39.8 percent in compounded growth between 2013 (US$47 billion) and 2017 (US$181 billion), according to research company iResearch
  • Tencent Group is the largest shareholder of Tongcheng-Elong with 24.92 percent of the company's shares. The cooperation between Tongcheng-eLong and Tencent has turned out mutually beneficial – Tencent delivers millions of users to Tongcheng-eLong’s portal, while Tongcheng-eLong selling travel services can increase user activities and improve user retention on the Tencent platform

 

Tongcheng-Elong Holdings  standalone subsidiaries :

The Company mainly conducts its businesses through three segments -

  • Transportation Ticketing Service (Air, Train, Bus and Ferry tickets) - As an important part of Tongcheng-Elong’s one-stop service, its transportation service includes train ticket, bus ticket and ferry ticket, among others. The bus and ferry ticket business cover approximately 453,000 bus routes and over 300 ferry routes in China. As of June 30, 2018, its air ticket suppliers comprised 421 airlines and 342 air tickets agents, covering over 6,090 domestic routes and over 226 airports in China and over 714,500 air routes and over 2,400 destinations outside China - this segment is worth around 2 billion USD
  • Accommodation Reservations Service - Tongcheng-Elong provides online accommodation reservation service of the hotel and alternative accommodation options through its websites, apps, Weixin-based mini program and its portals in“Weixin wallet” and “QQ wallet” and other channels. Tongcheng-Elong’s online accommodation reservation business covers around 390,000 hotels and alternative accommodation options in over 380 cities in China and approximately 790,000 hotels and alternative accommodation options in more than 50,000 overseas destinations - this segment is worth around 1.5 billion USD
  • The Others segment provides various ancillary value-added travel products and services to meet customers’ evolving travel needs throughout their trips - this segment is worth around 500 million USD

 

 

Total =4 billion USD

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