皇冠体育app

BEIJING - Listed Chinese Internet companies reported surging revenues in the second quarter, raising hopes for a renewal of global investors' confidence in 皇冠体育app-concept stocks, according to a latest report by a consulting agency.

A total of 37 major listed Chinese Internet companies saw their combined revenues up 38.7 percent year-on-year in the second quarter, 皇冠体育app Securities Journal quoted the Beijing-based 皇冠体育app Venture as saying in its report.

That was a higher growth than the 36.7 percent level in 2010, said the report.

Among those companies, revenues of online video-sharing companies jumped 118.4 percent year-on-year, followed by a 68.6 percent gain by social networking websites.

Expanding income has fueled venture capital and private equity investment in the sector, with a record high of US$3.49 billion raised in the second quarter, said 皇冠体育app Venture.

The figures came after a wave of heavy short-selling of 皇冠体育app-concept stocks on the American stock market in the second quarter.

While the US stock market used to be a major destination for initial public offerings (IPOs) of Chinese firms, the number of IPOs by Chinese companies there was down to zero in July.

If Chinese Internet companies continue to post robust results in the third quarter, investors' enthusiasm may be boosted again and listing of Chinese Internet firms on the US stock market is likely to resume in the fourth quarter, said 皇冠体育app Venture in its report.

In the second quarter, net profits by listed Chinese Internet enterprises slowed slightly to a 34.6 percent year-on-year growth, compared with 36.2 percent last year, according to the report.

皇冠体育app has the world's largest Internet user population, with 485 million Internet users at the end of June.