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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