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The good news is  Yahoo China and (口碑网) are set to receive RMB 300 millions worth of additional fundings from their parent company,  Alibaba group, to develop their local search engine, according to the Sina Tech.

The news was confirmed by Yahoo China Vice President Shen Jianming yesterday. Yet, a dramatic turn happened as Miss Shen Jianming told the local media that she has resigned for personal reasons and depart from the company officially. Aliuser got the news from Beijing-based China

Yahoo China and (口碑网) joined force together  again in order to develop an organizational and service-related website covering the area of Shanghai, Beijing and Guangzhou. Services on the site will include food, real estate, community services, leisure and culture, health care services, and education.

Miss Shen said her departure was attributed to the change of the company’s business approach. She was assigned to manage in Hangzhou, which was far away from her home town, Beijing.  She submitted her resignation a month ago after a few thoughts.

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Advertisements (HKSE 1688) reported earnings results of RMB308.6 million for the third quarter ended September 30, 2008.

According to the press release, currently has 3.1 million registered users, 393,142 storefronts and 30,345 paying members during the quarter.

Finished the quarter in an exceptionally strong financial position with third quarter recurring free cash flow of RMB410 million, and over RMB6.1 billion of cash and bank deposits on the balance sheet and no debt.

The company also announced a share repurchase program of up to HK$2 billion (approximately US$258 million) through the end of 2009.  Aliuser found shares of rose as high as HK$5.90 with 18.9 million shares changing hands today.

To check out a full earnings report through Alibaba’s press release.

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While many investors ask what will happen to the mainland after the Olympics, we will also ask what Alibaba will focus on after it has announced its interim result last week.

To a certain extent, the remarks made by Alibaba chief executive officer David Wei and the result itself were aimed at easing concerns over where and how the China largest B2B website will be heading to:

Going forward, we expect the robust growth of our China marketplace to continue. The recent launches of a series of new products and services including ‘Winport’, ‘China TrustPass for Individuals’ and ‘Export-to-China’ will further expand our China marketplace and we are encouraged by the positive response these initiatives have received so far

Our China marketplace accounted for 34.0% of total revenue in the reporting period and surpassed 36.1% in the second quarter of 2008, a significant increase when compared to a 27.2% contribution to total revenue in the first half of 2007. This shows the growing importance of the China marketplace to our overall business development.

In line with earlier slogan of “Back to Basic”, Mr Wei is steering his ship back, trying to capitalize on the foreseeable strong growth in China domestic market. (1688) reported earnings results for the second quarter and first half ended June 30, 2008.

It reported total revenue of RMB1,415.2 million in the first half of 2008, representing a 47.8% increase from the first half of 2007. The year-on-year growth was driven mainly by increases in the number of paying members of our combined marketplaces and in average spending per paying member of the China marketplace. (1688) had 368,006 paying members as of June 30, 2008, representing a 44.0% increase from the same period a year ago.


Interim Results 2008


Total Revenue

RMB 1415.2million

Revenue from China marketplace

RMB 481.6 million

Operating Profit

RMB 65.1 million

Net Income

RMB 697.2 million

Earning per share (EPS), basic and diluted

15.24 and 15.23 HK cents



Registered Users


Total no. of registered users on our marketplaces

32.5 million

No. registered users on international marketplace

5.6 million

No. registered users on China marketplace

26.9 million



Store Fronts


Total supplier storefronts on our marketplaces

3.7 million

Supplier storefronts on international marketplace


Supplier storefronts on China marketplace




Paying Members


Total no. of paying member


Gold Supplier


International Trust Pass





You can find a full report of the interim result here


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Ants wqrldphoto courtesty of DreamWorks SKG

Jack Ma, Chairman and Non-Executive Director of made a forecast that the world economy situation would be as bleak as that in 2001, 2002 where the dot-com bubble have taken place. He warned that the “winter” would probably last as long as three years.

Yet, He still pledged his support to China exporters, manufacturers and suppliers in the wake of gloomy economic sentiment. He suggested that SME in China should behave and work like “ants” which managed to survive much longer than such mammals as lions and elephants through all these years.

“Our Winport project launched two days ago will charge as little fee as we can, we have been thinking to offer the services for free.” Mr Ma said in a recent interview with China ( The interview was done in Mandarin though).

Alibaba raise investors’ eyebrows by reporting a strong net profit of 300.7 million yuan for the first quarter of 2008 on May 5th, a leap of 111. 7 percent year-on-year and 162 percent quarter-on-quarter, excluding the one-off interest income received from over-subscriptions during IPO in the fourth quarter of 2007. Find out the Full report here

Investors’ sentiments undoubtedly are still haunted by the painstaking experiences earned from the previous internet bubble burst, coupled with the emerging economic dark cloud in the United States, rising RMS value, escalating energy and food prices. Alibaba (1688.HK) closed at HK$14.14 per share last Friday.

Bookmark and Share Limited (HKSE:1688) announced her maiden financial results for the year ended Decemeber 31,  2007:

Financial Results 2007

Total revenue RMB2,162.8 million
Revenue from international marketplace (71.6% of total revenue) RMB1,547.7 million
Revenue from China marketplace (28.4% of total revenue) RMB615.1 million
Profit (attributable to equity owner) RMB967.8 million
Earnings per share 20.41 Hong Kong cents

Registered Users

Total no. of registered users on our marketplaces 27.6 million
No. registered users on international marketplace 4.4 million
No. registered users on China marketplace 23.2 million
Geographic coverage 200+ countries & regions


Total supplier storefronts on our marketplaces 3.0 million
Supplier storefronts on international marketplace 697,563
Supplier storefronts on China marketplace 2,259,283

Regional markets

United States 18.0%
European Union (excluding UK) 9.1%
India 8.4%
China 6.7%
United Kindgom 6.1%
Canada 2.8%
Other (we can not break this down further) 48.9%

   You can find out more details with  full operating data here.

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