Saturday, September 03, 2011

Netsun net profit drops 35% in 1H

News this week: Zhejiang Netsun, a Shenzhen-listed online sourcing platform, announced its results for the first half of 2011. For the six months ended 30th June, revenues were US$12 million, dropping 0.62% over the first half of 2010. Net profit was US$3.1 million, which was a 35% decrease compared with the same period last year. Earnings per share in the period were RMB 0.12.

Hangzhou-based Netsun’s online services generated US$3.6 million or 31% of total revenues. The information promotion services generated about the same amount as online services. In terms of product segments, Netsun’s chemical platform accounted for the largest proportion of revenues – US$6.7 million or 58% of revenues., Netsun’s search platform generated US$1.2 million – the second largest segment accounting for 10% of total revenues.

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