Soufun H1 2010 Profit Up 42% YoY
Netease Tech, 9/03/10
Chinese real estate search engine Soufun has disclosed in its IPO prospectus that revenue reached USD 68.19 mln in H1 2010, up 84.5% YoY.
Net income for H1 2010 rose 41.7% YoY to USD 5.3 mln.
Soufun has three revenue streams: the most important is its online marketing services, which include brand advertising and search advertising; the second is Soufun's classified information business, and the third is its value-added services, which are mainly comprised of its database and research report services.
Data in the IPO prospectus shows that Soufun has online real estate listings covering 106 cities nationwide, with over 8,000 advertisers. Classified listings including 139,000 listings for new properties, 8 mln in second-hand properties and rentals, and 140,000 commercial properties.
Revenue from online marketing services rose 54.5% YoY in H1 2010 to USD 45.6 mln, driven primarily by the rapid growth of Soufun's new home business, which generated USD 12.5 mln. Revenue from the classified business rose 159.5% YoY to USD 14 mln. Other revenues rose 317.9% YoY to USD 8.6 mln.
Keywords: statistics Internet IPO profit revenue online real estate SouFun online marketing H1 2010 online classifieds online advertising vertical search VAS
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