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Sofang Net Profit Down 92.8% In Q3 2019

November 26, 2019
Internet

Chinese real estate website Sofang.com recently published its financial report for the third quarter ended September 30, 2019, stating that the company's total operating revenue was USD67.6 million, a year-on-year increase of 11.8%; while its net profit was USD700,000, a year-on-year decrease of 92.8%.

According to the report, Sofang's operating cost was USD5.7 million, a decrease of 59.3% compared with the same period of last year; its operating expense was USD35.1 million, a year-on-year decrease of 3.2%; and its operating profit was USD26.7 million, a year-on-year increase of 164.8%.

In addition, the company announced that Qian Zhao had resigned the director position, effective on November 18, 2019. At the same time, Sofang appointed Hong Qin as independent director.

Tags: net profit | Sofang

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