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Chinadotcom Corp to Profit by the End of 2001
Chinadotcom Corporation, the first Chinese Internet company listed on the U.S. NASDAQ stock market, is expected to make a profit by the end of next year.
The corporation's total income was 20 million U.S. dollars in the first quarter, and the figure climbed to 30.1 million in the second quarter, half of which came from e-commerce, Jack W. Lin, a senior official of the company, said Wednesday.
He predicted that the total income of his corporation will reach 100 million U.S. dollars this year.
Despite the fact that Chinadotcom may still suffer losses this year, Lin was confident that it will earn a profit by the end of 2001.
He said that the number of Internet users that visit the portal websites under Chinadotcom almost doubled in every quarter, with rapid growth of e-commerce solution services provided to large domestic and foreign clients. And the corporation's Internet advertising company has become the largest of its kind on the Chinese mainland.
He said that Chinadotcom has 500 million U.S. dollars in cash and other assets, and in the next two or three years, it will invest 200 to 300 million U.S. dollars mainly in Internet infrastructure and e-commerce in China.
Chinadotcom has 24 offices in Asia with over 1,600 employees.
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