Zhubaijia, China's equivalent to Airbnb that focuses on accommodation service for Chinese outbound travelers, announced on July 5 that the company plans a private placement of less than 23,397,300 shares at around 21.37 yuan to 35.61 yuan per share. 

The company intends to raise RMB 500 million to boost its cash flow. 

The company posted total revenue of RMB 45.69 million and a net loss of RMB 89.58 million in 2015. Earnings per share (EPS) was RMB -1.38.