ChinaNet Online raises FY12 net income guidance to $3.1M from prior $2.8M ChinaNet Online Holding announced that the company is raising its 2012 full year net income guidance to $3.1M from $2.8M previously provided. The revised net income guidance does not include any benefits from the proposed acquisition of the remaining 49% equity interest in Sou Yi Lian Mei Network Technology announced on Sept. 17. The increase in our net income guidance reflects both improved expense management as well as a better than expected recovery from 28.com, and growth from Liansuo.com and brand management services and solutions based on our cloud-based marketing platform.
ChinaNet Online announces microcredit lending partnership with Shanghai Pudong ChinaNet Online announced that it has entered into a partnership with Shanghai Pudong Development Bank for a cooperation framework to launch a credit card and loan microcredit product for small enterprises and individual entrepreneurs including franchisees and chain store investors. A nationwide commercial bank with total assets of over RMB 3.96T as of September, 2014, SPD Bank and ChinaNet will cooperate to provide a safe, convenient, and transparent service for franchise businesses and entrepreneurs to help solve the difficulties of micro-lending for those often excluded from financial services. The new product is now in the design and finalization process, and will be officially launched by Q3.