News this week: NASDAQ-listed China Finance Online (CFO), a
Chinese online financial information provider, has released both its 2011’s
full year and fourth quarter results. For the year ended 31st
December, CFO recorded revenues of US$53 million, a decrease of 11% from
US$59.7 million recorded in 2010. Net loss attributable to shareholders in 2011
was US$19 million, compared to a profit of US$2 million in the previous year.
For the quarter ended 31st
December, revenues were US$11 million, a year-on-year 27% decrease compared to
US$15 million in the fourth quarter of 2010. Net loss attributable to
shareholders in the quarter was US$15 million, while to a profit of US$89,000
recorded in the same period of 2010.
Revenues were generated
from subscription fees from individual customers, subscription fees from
institutional customers, advertising revenues and revenues from
brokerage-related services. According to the company, in the fourth quarter,
revenues from subscription fees from individual customers decreased 39%
year-on-year, reflecting on the decreased in demand for financial information
products in China. The company had approximately 94,000 active paid subscribers
at the end of 2011.
In the result
announcement, CFO also announced the implement of a strategic transition of its
core business from providing premium subscription services to individual
investors, to developing fee-based securities investment advisory services with
wealth management services.
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