Return and growth—written on the occasion 188bet Live Casino group’s return to profitability in 43 months

Dear fellow students:

The first day of August，Reporting good news to everyone，July has passed，The group achieved large-scale profits of more than 30 million yuan，When the group proposed the goal of “earning one yuan” in January this year，There was a loss of about 100 million that month，half a year，We use the greatest determination，The most powerful measures turned losses into profits in a single month，And starting from this month，The company will return to the profit channel，On behalf 188bet Live Casino General Office, I would like to express my gratitude to all the students for their efforts over the past six months、Thank you for your understanding and support 188bet Live Casino company’s strategy。

July 2017 is the turning point，This is the turning point when Tongcheng suffered losses for 43 consecutive months，Past 43 months，Wonderful and long，Tongcheng was founded in 2004，10 years until 2013，Tongcheng makes profit every year。By 2013，The mobile Internet trend is coming，The entire industry has set off a storm of capital and price wars。In this context，December 2013，Tongcheng’s loss 188bet Live Casino month exceeded 10 million，But we still had a profit of more than 40 million yuan in 2013。Starting from 2014，The company is losing money every month，Until July 2017，After these 43 months，We finally ushered 188bet Live Casino 100 billion GMV based on、500 million service visits and large-scale profits。

Return to profitability in 43 months，We don’t want it to be a simple repetition 188bet Live Casino operating financial report，We hope that every student can grow and make progress in this process。Past 43 188bet Live Casino，If we did something right，I think there are the following points:

1. Face difficulties and never give up.If in December 2013, when the army was approaching the border，If we choose to retreat and give up，Then we won’t be able to see the scenery 188bet Live Casino next 43 months，We will also lose many opportunities 188bet Live Casino future。We choose to face difficulties，grit your teeth and persist，Never give up，Received an investment of 500 million from Tencent a month later，Received 1.4 billion investment in April of the following year。“No matter how difficult it is，Don’t forget dreams and persistence，Better yet，Don’t forget crisis and struggle”，Not only written in our values，I hope it can truly stay 188bet Live Casino hearts of each of us。

2. Seize the opportunity and make 188bet Live Casino effort to raise funds.In 2014 we clearly know，Financing ability 188bet Live Casino next three years is very important，The troops have not moved，Food first，So we seize the opportunity，Full financing，From 500 million to 1.4 billion to 6 billion and then to 1 billion, management increased holdings，These 43 months，We became the second most funded of all travel startups 188bet Live Casino world，The number one is Airbnb,I would also like to thank all investors for their trust and support 188bet Live Casino Tongcheng team，Sufficient cash reserves give us the confidence to face fierce competition and the layout of the entire industry chain。In retrospect, there have been many excellent companies 188bet Live Casino past three years，When encountering difficulties，Withdrew from the market because it did not receive enough financing。

3. Embrace change, All in wireless.Before 2014，90% of our business traffic comes from PC，is a company based on PC、SEM、Company whose core traffic source is SEO。In 2014 we saw changes 188bet Live Casino mobile Internet wave，Pass 1 yuan ticket，Go to “All in Wireless” decisively，At the last moment，Seize the opportunity of mobile Internet，Become one of the top three wireless companies in online travel。

4. Grasp WeChat and take advantage 188bet Live Casino trend.When our tickets are posted on WeChat，No one may believe that the nine-square grid in WeChat wallet will become a grid that changes the mobile Internet traffic pattern。For this 1% chance，We have made 100% efforts，Thanks to the group of veteran airline passengers led by Xiao Xin for their hard work 188bet Live Casino dark room，Thank you to Daliang and his team for making the train tickets very good。Tencent has very high requirements for service and user experience，We can enter WeChat，And today it has become the top service on WeChat entrance，This has an element of luck，It is also the result of the whole team’s hard work。

Because we did these four steps correctly in 43 188bet Live Casino，So today we can see large-scale profits for the entire group。Failure to do any of these four steps，The group will not have the development it has today。

Of course we made mistakes in these 43 188bet Live Casino、There are more pitfalls，For example, the hotel business is not doing well，Especially the opportunity of “mobile + prepaid hotel” has not been grasped，For example, the speed of our offline expansion，For example, our WeChat public account、Sensitivity of mini programs, etc.。

For any enterprise，As long as you can find your own experiences and lessons for the next step through constant reflection，Find your next direction，188bet Live Casino experiences are valuable。

Facing the company’s development 188bet Live Casino next three years，Here are some expectations:

First，Continue to put customers first，Follow products，Focus on user experience。

The company proposed the service goal of “zero negative reviews” last year，Through the efforts 188bet Live Casino entire company，We served 100 million people in 2015，The number of negative reviews is nearly 230,000，We served 300 million people in 2016，The number of negative reviews is 130,000，This is a good trend。A company serving more than 500 million people a year，It is impossible to truly achieve “zero negative reviews”，But take "zero negative reviews" as our goal，Find areas for improvement of our service from each negative review，This is the direction we are committed to pursuing。

The idea that "every CEO must be a chief experience officer" mentioned by Heping is very good。CEOs and first-level cadres of each business unit，You must have an experience report every month on your travel experience，Can be your own project，Can also be cross-project，Need to check in place every month，Every CEO must be the Chief Experience Officer of our product。Always review and test products and services from the user’s perspective，This is the true value of customer first，But 188bet Live Casino past three years of running wildly，We often do not do enough。Pay more attention to our products，Follow our services，Listen to users，Look at the problem from the customer’s perspective，This should be our core value orientation。

Second, refine business flow.

Mobile Internet traffic pattern initially determined，It is impossible to grow at a rate of two or three times every year 188bet Live Casino future。So，On the one hand, we need to continue to explore new traffic sources，On the other hand, we need to conduct refined management of existing traffic。

We need to see that behind every UV there is a living person。How to pass data、Analyze user needs through AI，And meet user needs through our cross-cutting services，Create greater user value at the same time，How to dig out the value behind the data of 500 188bet Live Casino service times，These are the points we need to work hard on and improve。

Third, continue to use the perspective of 188bet Live Casino and the entrepreneurial mentality.

As the company returns to profitability，We still need to emphasize the spirit of entrepreneurship，If a company loses its entrepreneurial spirit，Whatever resources we have，No matter how much money is lying on the account，188bet Live Casino company is dead。We must use an investment perspective，In-depth review of each project，Use an entrepreneur’s mentality，We must refine every investment we make，Be passionate again，Dare to innovate。

188bet Live Casino first half of the year, we invested in Huajiantang, the number one B&B brand in China，became its second largest shareholder；We also have in-depth capital cooperation with airlines。These are Tongcheng’s industrial investments，We know very well，Tongcheng is an online-focused company，When entering these offline industries，Must find the best team，From an investment perspective，Use the traffic on Tongcheng line、Brand、Funds to support their operations，Instead of jumping down and doing it yourself。

This can be regarded as a summary of 43 months，I believe this is also the beginning of a new era for Tongcheng，Let’s think deeply about the pitfalls we have stepped on together 188bet Live Casino past 43 months，The lessons we have experienced together，The vast majority of cadres have experienced the restlessness of the rapid expansion of the entire team，Some have also experienced the pain of team contraction；Already concerned about user experience、The results of extreme execution，I have also put aside the user experience、Errors in decision-making based on experience。Dig out these experiences and lessons，This is our greatest growth，It is our greatest wealth。

Thousands of sails passing by the side 188bet Live Casino sunken boat，Wan Muchun in front 188bet Live Casino diseased tree。43 months have passed，There will be more beautiful scenery below，A bigger challenge，The vast majority of students will realize their greater value during the development 188bet Live Casino group，If some students have good entrepreneurial ideas，Willing to realize your dreams on the crowd-creation platform，The company also fully supports it。

The road is long and difficult，The journey is coming，We are on the same journey，All the way forward。

ANY

2017-8-1