Friday, September 05, 2014

Netsun revenue down, profit up in first half

News this week: Last week, Shenzhen-listed online sourcing platform, Zhejiang Netsun, announced its results for the first half of 2014. For the six months ended 30th June, revenues were US$14 million, which dropped 27% from the first half of last year. The company attributed the decrease of revenue to significantly reduce the chemical trade services revenue, slipping 83% year-on-year. However, net profit in the period grew moderately by 2.1%, to US$3.3 million. Earnings per share in the first half were RMB 0.10 (US$0.016).

The majority of the Hangzhou-based company’s revenues were generated from Internet services, amounting to US$11 million, which accounted for 76% of total revenues. The company’s exhibition services, which became its second largest business segment, generated revenues of US$2.1 million, or 15% of total revenues. The remaining revenues were generated from the chemical trading services, which accounted for US$1.3 million.

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