Sunday, November 14, 2010

News this week: profit jumps 55%

Hong Kong, 11th November: Hong Kong-listed released its third quarter earnings this week. For the quarter ended 30th September, revenues increased 40% over the same quarter last year to US$217 million. The company’s International Marketplace generated 58% of total revenues (US$127 million), while its China Marketplace contributed to 34% (US$74 million). Net profit in the third quarter grew 55% to US$55 million. Diluted earnings per share were RMB0.0721 (US$0.0108) in the quarter.

As of 30th September, had a total of 57 million registered users in both International and China Marketplaces, which is a 25% year-on-year increase. The company also recorded more than one million paying members, including 750,937 members from both marketplaces and about 225,000 members from HiChina. CEO of, David Wei highlighted the company's efforts to reduce fraud on the platform which included terminating the membership of some 1,200 Gold Suppliers.

No comments: