Chinese online travel service provider eLong Inc. reported its unaudited financial results for the first quarter ended March 31, 2011, and said Tencent made a strategic investment in the company. Chinese online gaming and instant messaging firm Tencent Holding Limited yesterday made a strategic investment in eLong, acquiring approximately 11 million newly-issued shares for USD84 [...]
Chinese online and wireless media company Sina Corporation says its profit fell on higher costs as it announced its unaudited financial results for the first quarter ended March 31, 2011. For the first quarter of 2011, Sina reported net revenues of USD100.2 million, compared to USD85.0 million for the same period last year. Of that [...]
Chinese Internet company Tencent has announced that it will implement a strategic investment in the well-known film and entertainment group Huayi Brothers Media. The investment will be reportedly completed via the large-scale trade platform of Shenzhen Stock Exchange. Tencent will invest CNY450 million to obtain a 4.6% stake in Huayi Brothers, making it the largest [...]
Chinese B2B e-commerce group Alibaba has completed its acquisition of the traffic statistics service provider CNZZ, marking a crucial step for the group's layout within the e-commerce industry chain. Early in February 2011, there was rumor on the Internet saying that Alibaba planned to invest USD15 million to acquire CNZZ, a Chinese traffic statistics service [...]
Chinese online video website Youku.com Inc. today announced its unaudited financial results for the first quarter ended March 31, 2011, and provided investors with an 8% net loss. While the company stated its revenues were CNY128.0 million — a 163% increase from the corresponding period in 2010 — its net loss was CNY46.9 million, an [...]
United States Assistant Senate Majority Leader Dick Durbin has penned a letter to the chairman of China's largest Internet search engine, asking for more transparency and greater adherence to human rights. In a message written to Robin Li, chairman and CEO of Baidu Inc., Durbin says that a rumored pending deal between U.S.-based Facebook.com and [...]
Chinese online recruitment company 51job Inc. announced its unaudited financial results for the first quarter of 2011 ended March 31, 2011. Net income for the first quarter of 2011 increased 81.6% to CNY91.6 million from CNY50.4 million for the same quarter in 2010. Total revenues increased 27.6% over the first quarter of 2010 to CNY324.5 [...]
Chinese Internet game and software company Kingsoft has published its annual performance for 2010, stating that its annual operating revenue decreased by 5% year-on-year to CNY970 million while its net profit decreased by 4% year-on-year to CNY370 million. Qiu Bojun, chairman and chief executive officer of Kingsoft, told local media that the year 2010 was [...]
Laox, the electronics subsidiary of the Chinese home appliances retailer Suning, has published its report for the 2010 fiscal year, which was actually a report of nine months due to an adjustment of its reporting schedule, stating that the company lost about CNY3.86 million during the reporting period. The report also said that the operating [...]
Li Guoqing, joint president of the Chinese Internet shopping website Dangdang.com, has announced that the company will stop putting advertisements on search engine Baidu.com from April 2011 due to the recent accusation that Baidu.com is involved in literature and music piracy. Over 50 Chinese writers and publishers claimed around March 15, the World Consumer Rights [...]
