Press Releases
TOM.COM LIMITED ANNOUNCES HALF-YEAR RESULTS 2000
POSITIONING FOR INTERNET LEADERSHIP IN GREATER CHINA
HIGHLIGHTS
- Established a household Internet brand
- Built a strong portal platform with over 4 million page views shortly after launch
- Achieved this strong brand and platform by spending over US$20 million which is appropriate spending by any international standards
- Cut operating costs by 50%. China, Hong Kong & non-portal corporate now each at/below the levels of comparable Internet companies
RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2000
- Rapidly built a solid platform as the basis for its future growth. With a powerful brand presence in the region, TOM.COM LIMITED ("TOM.COM") officially launched Hong Kong and Mainland China portals at the end of June. By July, daily page views reached over 4 million and are continuing to grow steadily
- For the three months ended June 30, 2000, TOM.COM's unaudited consolidated turnover amounted to HK$5,279,000, representing a meaningful growth from the first quarter of 2000
- As initial investment in brand and platform building, loss attributable to shareholders of the Group for the six months ended June 30, 2000 was HK$193.9 million
- Introduced a dynamic reasoning engine called "Autonomy" with cross-language search/push application tracking information on targeted topics
- Initiated its e-commerce operations with TOM'S SHOP along with TOP (Tom's Online Payment Solution)
- Major Investments:
- Acquired a 50% equity interests in AAStocks.com Limited
- An initial subscription of a 35% stake in she.com International Holdings Limited
- Acquired a 50% interests in Shanghai Maya Online Broadband Network Company Limited
FUTURE PROSPECTS
| I. | Build the leading portals through consolidation |
| II. | Grow revenues, predominately via acquisitions |
| III. | Develop potential convergence plays |
THE INVESTMENT HOLDING COMPANY IN MAINLAND CHINA
Directors believe we have recently gained a major competitive advantage by obtaining an investment holding company license.
- A unique edge for strategic investments in China Internet companies
- To our knowledge, the only Internet company to have obtained such license
- The registered capital is expected to be US$30 million
- The right to make investment in the telecommunication, electronics, computer and information systems areas where foreign investment is encouraged and permitted by the Mainland China government and provision of the related services
- Potential tax benefits
August 1, 2000
Press Enquiries:
Rachel Chan, TOM.COM LIMITED
Tel: 2121 7810
Fax: 2127 7576
e-mail: rachelc@hk.tom.com