Eachnet denies Sina buy report
Jane Chen / Shanghai Daily news
Eachnet.com will not purchase the key rival Sina.com, its chief executive
officer Sun Deli said yesterday as quoted by Eastday.com.
Sun was clearing a
recent message circulating on the market at a press conference when the company
published its third quarter financial report for this year.
"It's totally a
rumor", he said, adding that "Eachnet has not conducted any talks for merges or
acquisitions with Sina".
Both Eachnet and Sina are Nasdaq-listed
Chinese-language portal websites.
According to Eachnet's quarterly financial
report, in the previous three fiscal months, the dotcom company has recorded
growths of 15.4 percent and 11 percent respectively in gross revenue and net
profit compared with the same period of last year. Its total income
reached US$28.8 million.
The financial report attributed the profit growth to
the good market reactions to Eachnet's two self-development online games and the
regaining advertising business.
Upbeat about the online game business,
Eachnet plans to introduce a new game in January, with which it expects to bring
the total income in the fourth quarter to between US$32 billion and US$32.8
million, the Eastday.com report said.
The company's chief operation officer
Dong Ruibao also expects a growth in wireless value-added business in the
following two quarters, the report said.