Zhejiang Netsun’s revenues up 39% in first half

Hangzhou, 25th August: Last week, Shenzhen-listed Zhejiang Netsun reported revenues of US$26 million for the six months ended 30th June 2017. This represents a year-on-year increase of 39%. Profits in the period were US$2.0 million, representing growth of 8.2% compared to the same period in 2016.

Diluted earnings per share in the first half of the year were RMB0.05 (US$0.0074). According to Netsun’s management, the positive performance was primarily driven by an increase in revenues at its chemical trading business unit.

The company’s largest business segment is its chemical trading business, accounting for 56% of total revenues – or US$15 million. Revenues in this business segment rose by 62% year-on-year. Netsun’s second largest segment, online services generated revenues of US$9.0 million or 35% of Netsun’s total revenues. The remaining revenues were generated by its trading services business (US$1.5 million), its exhibition services business (US$1.0 million) and from rental income (US$6,600).

Source: Shenzhen Stock Exchange announcement (Chinese)