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.
