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, Baidu announce service partner agreement ChinaNet Online (CNET) announced it has entered a service partner agreement with Baidu (BIDU) to cross-sell branded services and products in conjunction with the Company's "Business Direct 3.0" and Baidu's Baidu Direct Reach. The service partner agreement, with power of attorney authorized by Baidu, allows ChinaNet to resell any related Baidu Direct Reach service with the Baidu name and conversely allows Baidu to leverage the ChinaNet brand and Business Direct 3.0 name, products and services. ChinaNet will now be positioned within Baidu's service provider ecosystem of internet and mobile products.