Netsun’s Q1 net income drops 29%

News this week: Earlier this week, Shenzhen-listed Zhejiang Netsun announced its first quarter results for 2011. Revenues were US$6.0 million – an increase of 14% compared with the same period of 2010. However, Netsun’s net profit decreased 29%, dropping down to US$1.7 million. Earnings per share were RMB 0.08 (US$0.012).

The Hangzhou-based company operates a number of online domestic sourcing platforms covering industries such as chemicals, pharmaceuticals and textiles. The company’s 2010 full-year revenues were US$26 million with a net profit of US$7.8 million.

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Made-in-China.com revenues up 46% in Q1

News this week: Shenzhen-listed Focus Technology, the operator of Made-in-China.com, has released its results for the quarter ended 31^st March 2011. Revenues were US$14 million, a year-on-year increase of 46%. Net income in the period was US$4.5 million, a rise of 31% compared with the same quarter in 2010. Diluted earnings per share were RMB 0.25 (US$0.0382) in the quarter.

The Nanjing-based company attributed the growth to an increase in the number of paid members and a rise in income from value-added services. As of 31^st March 2011, Made-in-China.com had 13,689 registered members, of which 12,752 were registered on the company’s flagship English-language site and just 937 on its Chinese site.

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Baidu’s net income jumps 123% in Q1

News this week: Baidu, the leading Chinese-language Internet search provider, announced its first quarter results this week. Revenues were US$372 million, up an impressive 88% over the same period in 2010. Net income was US$163 million, a jump of 123% over the first quarter in 2010. Diluted earnings per share in the period were RMB 3.07 (US$0.47).

The number of active online marketing customers increased 24% to 274,000 in the first quarter of 2011 and revenue per customer increased to US$1,359, a rise of 51% over the first quarter of 2010.

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