NetEase was the best NASDAQ performer in 2002And still is an excellent challenge! Its continued revenue growth on ist first Quarter of 23.2% over preceding quarter resulted in further enhanced gross margins of 77.9%! The Company achieveed operating profit of RMB63.6 million (US$7.7 million) and net profit of RMB68.9 million (US$8.3 million), or US$0.27 per American Depositary Share (basic). NetEase.com is a leading Internet technology provider in China. The Company that reported a total revenues of RMB117.9 million (US$14.2 million) for the first quarter, a 23.2% increase over total revenues of RMB95.7 million (US$11.6 million) for the preceding quarter ended December 31, 2002 and a 392.3% increase over total revenues of RMB24.0 million (US$2.9 million) for the corresponding period in 2002. https://corp.163.com/investor_eng/030429/030429_1359.html
NetEase.com, Inc. is a leading China-based Internet technology company that has pioneered the development of applications, services and other technologies for the Internet in China. Their mission is to deliver "Power to the People" by using the latest Internet technologies to enhance meaningful information sharing and exchange.
NetEase Web sites offer Chinese Internet users Chinese language-based online content, community and electronic commerce services. NetEase's average daily page views exceeded 349 million for the month of February, 2003. As of February, 2003, NetEase Web sites had more than 107 million registered members, 55'476 simultaneous chat room participants. NetEase Web sites provide an intimate community setting where users can enjoy access to free Web-based e-mail, online auctions, online chat rooms, personalized Web sites, instant messaging, Web hosting, and e-commerce services. Their online interactive community services offer 1'800 community forums. The comprehensive NetEase search engine facilitates users' access to everything the World Wide Web has to offer thanks to a partnership wirh Google. NetEase has twice been pinpointed by CNNIC as the number one preferred Internet server in China. NetEase Web sites organize and provide access to 18 separate channels of online content through distribution arrangements with over one hundred international and domestic content providers. These channels put their users in instant contact with current news and online media on a wide variety of topics, ranging from local and international current events, to environmental concerns, to sports coverage and advances in health care. NetEase Web sites put the latest in fashion, music, film, and television at your fingertips. In the midst of China's technological revolution, NetEase has achieved a number of innovations in the Internet industry. William Ding, founder of NetEase, is a pioneer in the Internet field and the first to conceptualize e-mail, a virtual community, online auctions, free Web hosting, and e-commerce in China. These innovative services have led NetEase to gain a substantial lead over their competitors like Sina and Sohu in an industry where speed and quality are as important as content. Capitalizing on the "NetEase Advantage" is what will continue to set NetEase.com, Inc. apart from the crowd in the rapidly expanding Chinese Internet market. As Internet becomes more pervasive in China, the opportunities for online advertising and e-commerce will further grow. The NetEase community is in an excellent position to attract e-commerce retailers and online advertisers. As one of the leading three Web sitee in China, NetEase is committed to the continued development of e-commerce and the IT industry, and the further digitalization of Chinese society. The NetEase mission is to reach, touch, and inform each and every Chinese Internet user. Their goal of bringing together millions of Chinese citizens through an extensive virtual community is quickly being realized, and NetEase will continue to develop cutting-edge technology to provide even better services to our users to enhance their online experience.
NetEase.com announced that it has entered into an agreement with affiliates of The News Corporation Limited, whereby NetEase will pay a net aggregate amount of approximately US$4.6 million for the 27,142,000 ordinary shares of NetEase held by one affiliate and the right of The News Corporation Limited and its affiliates to a certain amount of advertising on the NetEase Web sites which had been granted under a strategic cooperation agreement between the parties will be waived. These ordinary shares are the remaining shares The News Corporation Limited still holds from its investment in NetEase prior to NetEase's initial public offering. In accordance with the agreement, NetEase will also be able to use US$2 million worth of advertising on Asian television properties of The News Corporation at no additional cost until March 28, 2004 or such other date as the parties agree. Upon the closing of these transactions, the strategic cooperation agreement between NetEase and such affiliates of The News Corporation Limited will be terminated, except for the above-mentioned right by NetEase to advertise on The News Corporation Limited's Asian television properties.
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