Net Losses For Baixing.com’s Online Classifieds Business
Chinese classified information website Baixing.com released its first annual financial report after its IPO, and the company's operating revenue in 2015 was CNY146 million, a year-on-year increase of 62.85%.
But the company made net losses of CNY24.99 million, which was CNY13.86 million less than 2014.
Baixing.com's gross margin was 92.7%, which was 3.23% higher than 2014. The company said this was mainly attributed to the fast-growing operating revenue and the relatively stable operating costs. In 2015, the company's operating costs only increased by 12.89% year-on-year.
Meanwhile, Baixing.com revealed that the fast growth of its operating revenue was mainly because of the rapid increase of its two major businesses: information publishing and promotional services. In 2015, the company's revenue from information publishing increased by 32.14% to CNY18.61 million; while its revenue from promotional services increased by 118.58% to CNY37.84 million.
The company's annual financial report also showed that Baixing.com's total assets reached CNY528 million in 2015, a year-on-year increase of 1282.21%; its total liability decreased by 35.87% year-on-year; and its asset-liability ratio decreased from 260.29% in 2014 to 12.08%.
Founded in 2005, Baixing.com is a classified information website in China. Its businesses cover various sectors, including online recruitment, lifestyle services, used car trading, housing rentals, and matchmaking.