March 31, 2017, Sinorama Corporation ( Stock Symbol:SNNN ) announced financial result for the year ended December 31, 2016.
“Sinorama Corporation had another strong performance this year with revenue increased 89% than last year, the total revenue was $77.65 Million,“Said QIAN HONG, president of Sinorama .
About Sinorama Corporation
Sinorama is an integrated travel producer and seller which enjoys a good reputation among the tourism industry. The Company provides Bus Tours, Asian Tours, as well as sales of the third-party products air tickets, hotels and other travel products. Sinorama Corporation has achieved a combination of traditional tourism industry and E-Commerce, while covering a wide range of business.
Sinorama Corporation reported consolidated revenues of $77.65 million for the year ended Dcember 31, 2016 an increase of 89% compared to the year of 2015. The increase was primarily in the Asian Tours sector, as a result of the increase in the number of customers to 28.27 thousand customers, an increase of 16.29 thousand as compared with the number of 11.98 thousand for the year ended December 31, 2015, result of the revenue from Asia tour increased $34.6 million or 133%, and the other reason was increasing of advertising investment which increased $3.32 million or 229 % for the year ended December 31，2016 compared to $1.45 million for the same period of 2015.
Sinorama Corporation with revenue was $77.65 million increased 89% compared to the same period of 2015, Asian Tours revenue increased 133%;
The OTA(Online Travel Agency) have been operated and developing rapidly, and the travel industry chain is improving gradually.
Forward Looking Statement
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding future operating performance, events, trends and plans. All statements other than statements of historical fact contained herein, including, without limitation, statements regarding our future financial position, business strategy, budgets, projected revenues and costs, and plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expects,” “intends,” “plans,” “projects,” “estimates,” “anticipates,” or “believes” or the negative thereof or any variation thereon or similar terminology or expressions. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on our forward-looking statements, as they speak only as of the date made. Such statements are not guarantees of future performance or events and we undertake no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances occurring after the date hereof.
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