Chinadotcom Reports Good Financial Performance in Q1

Peter Yip

Chinadotcom corporation (Nasdaq: CHINA) reported a total revenue of US$20 Million for the first quarter of Year 2000, an 84% increase from the last quarter of Year 1999.

Chinadotcom is a pan-Asian integrated company, playing a key role in facilitating the development of the Internet in Asia by providing a full range of services that "Build, Distribute and Sell" in products and services for the internet.

Peter Yip, CEO of the Chinadotcom, told reporters that "each dimension of our core business---e-business, online advertisement and our integrated portal network---is realizing continued rapid growth and increasing gross margins, and decreasing operating cash losses. The effective execution of our focused business plan has once again produced results ahead of internal and external projections, demonstrating that we are growing strong and are well down the path to profitability."

Peter Yip also said, the fiscal accomplishment of Chinadotcom attributes to its strategic business model. In the first quarter this year, Chinadotcom has invested in many small internet forms to diversify its business solutions.