Home > > Smart tour guide operator Lvji reports a net loss of $11.7 million for H1

Smart tour guide operator Lvji reports a net loss of $11.7 million for H1

09/01/2020| 11:38:48 AM| ChinaTravelNews 中文

Lvji uses VR technology innovation to further launch VR business in order to grasp the trend of cloud tourism and 5G innovation.

Online tour guide provider Lvji Technology announced that for the six months ended June 30, 2020, revenue decreased by approximately 56.1% to RMB 80.3 million (USD 11.77 million)  from RMB 183.0 million ( USD 26.8 million) for the same period of 2019. Results for the period decreased by approximately 254.1% to loss of RMB 80.0 million (USD 11.73 million) from profit of RMB 51.9 million (USD 7.6 million).

Number of online tour guides developed increased by approximately 70.7% year-to-year to 22,044 from 12,913 for the same period of 2019.

Number of tourist attractions in China that the Group’s online tour guides covered increased by approximately 40.6% year-to-year from 8,304 to 11,674 for the same period of 2019.

During the period, Lvji had negotiated with a number of well-known tourism groups, local travel agencies and large organizations and developed innovative sales and marketing strategies, including “Tour Guides + Fuel Cards”, live broadcasting promotions, community marketing, “reservation + ticketing” initiates, SaaS sales model and smart museum, among others, which are aimed to broaden the tourists’ secondary consumption opportunities and our revenue was recorded a mild improvement during the COVID-19 outbreak. 

At the same time, it uses VR technology innovation to further launch VR business in order to grasp the trend of cloud tourism and 5G innovation.

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TAGS: Lvji | financial report
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