Beijing UTour International Travel Service Co., Ltd. cancelled the acquisition of an additional stake in Qyer.com from Alibaba Capital Partners and others.
January 14, 2017
Share
Beijing UTour International Travel Service Co., Ltd. (SZSE:002707) agreed to acquire an additional stake in Qyer.com from Alibaba Capital Partners and others on January 6, 2016. Simultaneously, Qyer.com has completed a series D round of financing led by Beijing UTour International Travel Service. SIG Asia Investments and another Chinese investor also participated in the round. Utour agreed to invest CNY 162 million for a 5.5% stake in Qyer.com by subscribing to new shares and buying stakes from existing shareholders. After the completion of the deal, Alibaba Group will see its shareholding decline to 24.7% from 28.09%. For 2015, Qyer.com had a net profit of CNY 0.53 million and revenues of CNY 16.16 million.
Beijing UTour International Travel Service Co., Ltd. (SZSE:002707) cancelled the acquisition of an additional stake in Qyer.com from Alibaba Capital Partners and others on January 14, 2017.
UTour Group Co., Ltd., formerly Beijing UTour International Travel Service Co., Ltd., is a China-based company principally engaged in the provision of tourism products and related services. The Company is mainly engaged in the provision of outbound travel services. The Company's outbound travel products include ferry tours, customized tours, self-guided tours, semi-independent tours and overseas destination fragmentation products, among others. The Company is also involved in the provision of outbound services, such as study tour, immigration, personal currency exchange, agency shopping tax rebates, travel consumer credit and supply chain finance. The Company operates its business in domestic and overseas market.
Beijing UTour International Travel Service Co., Ltd. cancelled the acquisition of an additional stake in Qyer.com from Alibaba Capital Partners and others.
UTOUR GROUP CO., LTD. 
