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.
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