Nanjing, 17th August: Last week, Shenzhen-listed Focus Technology, which owns and operates B2B trading platform, Made-in-China.com, announced its financial results for the six months ended 30th June 2018. Revenues were US$61 million, a decrease of 36% compared with the first half of 2017.
The company attributed the decline to a change in its accounting method as required by a new Chinese government policy. Otherwise, management maintains that revenues would have increased 11% year-on-year. Net income in the six-month period grew by 1.9% year-on-year, amounting to US$5.1 million. Diluted earnings per share in the first half of 2018 were RMB 0.14 (US$0.021).