Shenzhen-listed Zhejiang Netsun reported it 2016 revenues of US$47 million, up 84% compared with the previous year. However, net profit dropped by 30% year-on-year, falling down to US$1.8 million. Diluted earnings per share in 2016 were RMB 0.05 (US$0.0072).
The Hangzhou-based company attributed the increase in revenue to the strong performance of its online platform focused on the chemical industry in China. Revenues from Netsun’s chemical industry vertical were up 344% year-on-year, hitting US$30 million. Management attributed the decrease in profits to its cost base increasing.
Zhejiang NetSun Co., Ltd. is the only provider of comprehensive services to chemical industries over the Internet. We are the first Chinese company to create and operate an industry-specific business-to-business (B2B) website. Having a clear vision since our inception in 1997, our services have been oriented towards the business customers from the very beginning. By offering excellent, value-added services for the subscribing members, NetSun has witnessed a rapid expansion of its membership during its10 year development.
Source: Business Strategies Group Hong Kong – www.bsgasia.com