Caixin Global – Latest China News & Headlines

Home >


CX Live is Caixin Global's real-time news portal, featuring 24-hour breaking news, short-form analysis, and roundups from business and social media in China.

Ministry Outlines Ultra HD Video’s Broad Application Prospects
Xiaomi, Other Chinese Firms Debut on Fortune Global 500 List
Didi Sets Up Mideast, North Africa Partnership with Symphony Investments
China Mandates Safety Inspections for Cloud Service Providers
Exclusive: Central Bank Governor Says Interest Rates Are at Proper Level
Huawei May Post 30% Sales Growth in First Half Despite Blacklist
Huawei to Invest $436 Million in Own Computing Ecosystem
Texas Instruments Sales Outlook Defies US-China Trade Fears
China Tightens Rules on Ownership of Unlisted Banks
China Approves New Rheumatoid Arthritis Drug
China Will Expand 5G Network to Rural Areas Despite Cost Concerns
BAIC Group Takes Stake in Daimler
China to Regulate Smoking, Vaping Amid New Focus on Public Health
China’s Reformed Aluminum Giant Rises on Back of Reinforced Profits
Big Tech-Backed Ride-Hailing Service Gets Nanjing Rollout
Government Urges Checks on Foreign Students’ ‘Quality’ After ‘Buddy’ Outrage
Upstart Chinese Crypto Entrepreneur Postpones Buffett Lunch
Three Billionaires Created on China's New Tech Board
Tencent Teams Up With Nintendo-Backed Pokemon to Create Games
Didi Sets Up Mideast, North Africa Partnership with Symphony Investments
Dubai's Top Developer to Team Up on $11 Billion Project in China
Authorities’ Attitude Key to Success of Digital Governance: Pony Ma
China’s Starbucks Challenger Eyes Middle Eastern Foray
People’s Daily Website Reports Booming Profit

By Zhao Runhua / Apr 18, 2019 12:58 PM / Business & Tech

Photo: IC

Photo: IC

Shanghai-listed, the widely read news portal owned by state-run newspaper People’s Daily, on Wednesday reported a strong fiscal performance for 2018, an example of a government-backed publication seemingly unencumbered by China’s general downturn of media outlets. reaped 1.7 billion yuan ($254 million) in total revenue, up 20.96% year-on-year. Notably, the company’s net profit soared 139.23% to 213.9 million yuan from 2017, which the company attributed to an increase in advertising revenue, a subsidiary’s performance, and cost controls.

The outlet makes big bucks from some sources not quite considered traditional journalism revenue streams. In a January prediction report, the company said it expected revenue from its “content monitoring unit” — a business that monitors content and manages related risks with third-party partners — to increase 166% from the previous period, and help drive's growth.

Buried in Wednesday’s report, the company claimed the unit met that impressive growth expectation. also has the most-followed Weibo social media account, with an astounding 64 million followers.

As of Thursday's morning market close,'s stock price had increased 185% upon the release of the profit increase prediction.

Related: Four News Apps Removed Amid Tightening Content Crackdown

Share this article
Open WeChat and scan the QR code
Copyright © 2019 Caixin Global Limited. All Rights Reserved.