Posts US$2.2 Million Loss In Q2 Corp., the Hong Kong firm that manages a
portal network for Greater China, reported a US$2.2 million net loss for the second
quarter. executives explain that loss comes from its expansionist moves leading up to
its initial public offering last month on the NASDAQ. reported US$ 2.4 million in total revenues for the second quarter, a 50
percent increase over total revenues of US$ 1.6 million for the first quarter and a 174
percent increase over total revenues of US$ 881,000 for same quarter last year.

“This is our first earnings announcement as a public company, and we are extremely
pleased with the company’s results,” said Peter Yip,’s CEO. “We
experienced impressive growth in revenue and page views in our advertising and
e-business solutions.”

According to, the average daily page views on its portal network for the
month of July, 1999 increased to 1.3 million, a 30 percent increase over average page
views of 1 million a day in June.

Page views from the 24/7 Asia network, for which has a license, allegedly
grew to more than 30 million daily page views. Additionally, the company says that the
number of affiliates of 24/7 Asia increased to 175 at July 31, 1999.

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