Business, Internet

Classified Information: 58.com Made Net Losses Of USD117.8 Million In 2016

58.com realized operating revenue of USD306.6 million, which was about CNY2.095 billion, during the fourth quarter of 2016, a year-on-year increase of 28.5%.

The Chinese online classified information service provider published its unaudited financial report for the fourth quarter and entire year of 2016 and said that it made net losses of USD19.7 million. For the entire year of 2016, the company realized operating revenue of USD1.142 billion, which was about CNY7.592 billion, a year-on-year increase of 69.5%; and it made net losses of USD117.8 million.

If calculating in accordance to non-GAAP, 58.com's net losses attributable to the company was USD700,000 in the fourth quarter of 2016.

The financial report showed that by the end of the fourth quarter of 2016, the group, including 58.com, Ganji.com, and Anjuke.com, had about 2.07 million paid users, who contributed CNY812 million to the group, a year-on-year increase of 26%. Its online promotional products achieved revenue of CNY1.189 billion, a year-on-year increase of 37%.

In addition, the group's income structure of traditional and innovative businesses, including online recruitment, real estate advertising, automobile listings, yellow pages, and used goods trade, became more stable.

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