Chinese Internet company Sohu.com announced that it recorded its first full-year profit in 2003. Nasdaq-listed Sohu's profit for the year under US accounting rules totaled US$26.4 million, an improvement on losses of US$1 million and US$13.3 million in 2002 and 2001, respectively. Sohu's emergence from out of the red was driven by an expansion in […]
Category:
Microsoft China president Tang Jun is leaving his position at the subsidiary of the world's largest software company to serve as president of China's largest online games operator, Shanda Networking Development Co. Tang leaves Microsoft after less than two years as president and five months after Microsoft created a new position above him – Greater […]
Zentek Technology Japan announced that it will cooperate with Shanghai Venus Software Co to supply the Chinese firm with mobile phone software technologies. Tokyo-based Zentek said it plans to shift its business model from Japan to China, including development of emulators for application software, development and distribution of Java and Brew contents, and mobile phone […]
China Life share prices began to slide in value as investors expressed concern over government reports of accounting irregularities at the insurer's parent company, China Life Insurance (Group) Co. Li Jinhua, chairman of the China National Audit Office, said that irregularities amounting to RMB 35 billion (US$4.2 billion) were discovered at China Life's parent group. […]
Categories
Sina reports record revenues
Sina Corp, the world's largest Chinese-language Internet portal, said its fourth quarter revenues hit a company record US$38.3 million, a year-on-year increase of 197%. Sina reported a fourth quarter net profit of US$9.3 million, up from US$1.5 in the same period the previous year. The rise in revenue and profits was attributed to a surge […]