CapInfo Profit Falls

August 14, 2003 | Print | Email Email | Comments | Category: Internet



    CapInfo, a provider or online billing and e-commerce services for Internet companies in China, saw a 45% drop in profit for the first six months of 2003.

    The company is owned by the Beijing city government and the company's net income for the first six months of 2003 fell to 3.52 million yuan, or 0.0012 yuan a share, from the previous year's 6.39 million yuan, or 0.0022 yuan a share. The loss is blamed in part of the decreased sales and activity of China's online Internet websites and providers.

    In particular, the losses from CapInfo's clients like Beijing Credit Bureau and Beijing Certificate Authority Centre, totaled nearly 1.34 million yuan for the first half, representing a deterioration from the 1.13 million yuan loss recorded for the three months to June 30. These CapInfo losses and figures clash with financials from China's largest three Nasdaq-listed portals, who say that the period during SARS was a windfall for online sales and activity in China.

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