Alibaba Profit Rises 111.7%
May 07, 3:27 PM EDT |
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| Quarterly operating profit rose 81% to Rmb311.9 million as the number of paying members at the end of the quarter rose 35.6% to 327,118. |
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| Alibaba.com''''s International marketplace Gold Supplier members had a net increase of 8,484 from a year earlier to 28,548 and 1,164 from 27,384 at the end of 2007 thanks to a restructure of the Gold Supplier sales force into two teams focusing on customer acquisition and customer retention. In the period, International TrustPass members had a net increase of 652 from a year ago and 381 at the end of 2007 to 12,533. |
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Bank of China Profit Soars 85%
May 01, 10:47 AM EDT |
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| Quarterly net interest income rose 18.74% from a year ago to Rmb40 billion as domestic fees and commission income grew by 115.58% year-on-year. |
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| Bank of China, the nation''s third-largest bank, said that first-quarter profit increased as loan growth countered losses tied to U.S. subprime mortgages. Net fee and commission income grew by 82.93% from a year ago to Rmb9.454 billion, driving the net interest income up by 18.74%. Domestic fee and commission income in the period rose by 115.58% from a year earlier. The Bank cut holdings of subprime-related securities to $4.4 billion in March from $4.99 billion at the end of last quarter. |
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China Mobile Profit Rises 37.2%
Apr 22, 11:47 AM EDT |
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| Operating revenue advanced 19.7% year-on-year to Rmb 93.02 billion from Rmb 77.7 billion a year ago as net additional subscribers rose by 33.9%. |
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| The world’s largest mobile carrier China Mobile continued to focus particularly on expansion of the rural market, which naturally increased its net additional subscribers by 33.9% year-on-year to 7.60 million. At the end of March, the company’s subscriber base rose to 392.14 million. Average revenue per minute of usage also fell from Rmb 0.19 per minute in the comparable period last year to Rmb 0.17 per minute. |
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ICBC Proft Surges 65%
Mar 26, 3:56 PM EDT |
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| Six rate hikes in China helped its largest bank ICBC to improve yield of its portfolio of assets. |
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| Industrial and Commercial Bank of China net profit increasd 65% on rising intrest margin, grwoing deposit and imporving yields on deposits. The largest bank in world based on market cap also registerd net interest income increased 37% and cost to income ratio fell to 34.7%. The largest Chinese bank has avoided its exposure to risky loans in the U.S. Manufacturing sector represented the largest corporate customer base and stock market linked wealth management unit generated most profit. |
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Bank of China Profit Up 10%
Mar 25, 2:34 PM EDT |
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| Ninety year old Bank of China reported a profit increase of rising customer deposit and growing loan volume. |
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| Bank of China, thir largest bank, reported 2007 profit increased 10.3% to HK$15.44 billion after it reported a rise in customer deposits. Earnings per share increased to HK$1.46 from HK$1.33. Total assets at the bank increased 15% to record HK$1.07 trillion. The bank expects to pay toal dividend of HK$0.91 in 2007. The company lowered its exposure to subprime loans $5 billion from $7.9 billion in the third quarter. The news of the lower exposure lifted the stock in Hong Kong trading. |
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China Mobile Earnings Up 32%
Mar 21, 12:04 AM EDT |
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| China Mobile reported 2007 revenue rise of 21% and earnings gain of 32% as it adds new subscribers in rural China. |
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| The largest mobile phone carrier in the world reported 21% increase in revenue to Rmb 356 billion ($50 billion) after it added 5.7 million new subscribers a month in 2007. The company increased its market share to 69% in 2007 from 68% in 2006 as it added subscribers in the rural area. Monthly churn rate in 2007 fell to 2.64% from 2.73% in 2006. China Mobile plans to spend Rmb 127 billion in network infrastructure in 2008 and Rmb 119 billion in 2009. China Mobile has 384 million subscribers. |
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Baidu's Quarterly Profit Surges 79%
Feb 15, 1:00 PM EST |
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| Quarterly profit rocketed led by increased revenues that were generated from online marketing customers. |
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| China''s leading Internet search engine added that online marketing revenues in the quarter increased 111.2% from a year earlier. For fiscal 2007, net profit jumped 108% from a year ago to 629 million yuan while revenues jumped 110% to 1.74 billion yuan. Baidu expects first-quarter revenue to increase 93% to 99% from a year earlier. |
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