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NetEase.com Posts More Internet Revenue In China

Chinese Internet company NetEase.com Inc. announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2009, and showed large annualized and sequential revenue increases.

Total revenues for the fourth quarter of 2009 were CNY1.3 billion, compared to CNY879.4 million and CNY801.7 million for the preceding quarter and the fourth quarter of 2008, respectively. Total revenues for fiscal year 2009 were CNY3.8 billion, compared to CNY3.0 billion for the preceding fiscal year.

Revenues from online games were CNY1.1 billion for the fourth quarter of 2009, compared to CNY775.1 million and CNY672.5 million for the preceding quarter and the fourth quarter of 2008, respectively. Revenues from online games were CNY3.4 billion for fiscal year 2009, compared to CNY2.5 billion for the preceding fiscal year. Revenues from advertising services were CNY183.7 million for the fourth quarter of 2009, compared to CNY86.0 million and CNY111.8 million for the preceding quarter and the fourth quarter of 2008, respectively. Revenues from advertising services were CNY383.6 million for fiscal year 2009, compared to CNY405.9 million for the preceding fiscal year.

Revenues from wireless value-added services and others were CNY18.5 million for the fourth quarter of 2009, compared to CNY18.3 million and CNY17.4 million for the preceding quarter and the fourth quarter of 2008, respectively. Revenues from WVAS and others were CNY71.2 million for fiscal year 2009, compared to CNY71.7 million for the preceding fiscal year.

Gross profit for the fourth quarter of 2009 was CNY844.1 million, compared to CNY627.0 million and CNY639.0 million, for the preceding quarter and the fourth quarter of 2008, respectively. The quarter-over-quarter and year-over-year increases in gross profit were primarily attributable to increased revenues from both the online games and advertising businesses, partially offset by increased cost of revenues, such as royalties and consultancy fees related to Blizzard’s World of Warcraft operations and increased staff-related costs, resulting from increased headcount, in the current quarter. Net profit for the fourth quarter of 2009 totaled CNY571.8 million, compared to CNY393.8 million and CNY575.9 million for the preceding quarter and the fourth quarter of 2008, respectively.

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