The Digital Source For China's Tech Innovation Since 2000

Search
Close

Struggling Chinese Travel Internet Portal Replaces CEO

September 26, 2007
Internet

Adding flames to rumors that eLong (LONG) is having problems as a second-tier Chinese travel portal against much larger rival Ctrip.com (CTRP), the company has just announced the appointment of Guangfu Cui as its new CEO.

Cui will start work on October 8, 2007, the first day back after the Chinese National Day holiday. Henrik Kjellberg will step down as interim CEO of eLong but will remain chairman of the company. Kjellberg previously replaced Tom Soohoo, a former McDonald’s China and Nike executive who stayed briefly at the helm of the struggling Chinese travel portal. Soohoo took the reins from Justin Tang, the founder of the company.

Prior to joining eLong, Cui was the managing director for FedEx Kinko's China and worked previously for Procter & Gamble China for over 12 years.

eLong.com reported an operating loss as part of its unaudited financial results for the second quarter ended June 30, 2007. Gross margin in the second quarter of 2007 was 73.5%, a decrease of 364 basis points compared with 77.1% in the prior year period. The company says gross margin decreased due to the increased mix of lower margin air commissions and increased compensation expense related to investments in its call center talent and infrastructure.

The company recorded a net loss of CNY1.8 million for the second quarter, compared with a net income of CNY10.2 million for the second quarter of 2006. As of June 30, 2007 cash and cash equivalents were CNY1.17 billion, down 2% from CNY1.20 billion at December 31, 2006.

Tags: appointment | call center | cash | CEO | chairman | China | Chinese | compensation | Ctrip | Ctrip.com | CTRP | elong.com | executive | FedEx | finance | financial | Founder | Guangfu Cui | holiday | infrastructure | Internet | National Day | online travel | technology | travel

Other Related News:

The tricks that Chinese minors use to avoid the ban on playing online more than 3 hours a week Gaming

September 13, 2021

Rural Telecom Applications Provided By Gilat

February 7, 2006

OPPO Find N sold out in China after a few seconds on sale

December 18, 2021

Chinese almost completely "took" the largest European exhibition smartphones Hi-Tech

February 28, 2022

Plastic surgeons get asked for Kylie Jenner’s nose and Instagram-perfect bodies – do we hate our looks because of social media, image filters and Zoom?

August 13, 2021

Pullman Debuts In Asia’s Giant Garment Trading Centre With The Opening Of Pullman Shishi Mattison

July 28, 2016

Janney Montgomery Scott LLC Acquires 209,614 Shares of KraneShares CSI China Internet ETF (NYSEARCA:KWEB)

December 14, 2021

AsiaInfo Sells IT Solutions Business

December 14, 2006

Hard Numbers: GDP wars, WTO rules in Beijing’s favor, Africans support Chinese engagement, China winning 5G battle

January 30, 2022
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
Menu
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2022 ChinaTechNews.com. A Service of Asia Media Network.
Twitter
Posting....