ChinaNet Online Holdings Increases Full Year 2012 Revenue Guidance to at Least $46 Million
November 27 2012 - 7:30AM
ChinaNet Online Holdings, Inc. (Nasdaq:CNET) (the "Company"), a
leading B2B (business to business) Internet technology company
focusing on providing online-to-offline ("O2O") sales channel
expansion services for small and medium-sized enterprises ("SMEs")
and entrepreneurial management and networking services for
entrepreneurs in the People's Republic of China, today announced
that the Company is increasing its 2012 full year revenue guidance
to at least $46 million from $42 million previously provided. The
Company had previously raised its net income guidance to $3.1
million on October 11, 2012.
"Our new products and services are gaining traction with small
business and enterprise customers," explained Mr. George Chu, COO
of ChinaNet. "The increase in our revenue guidance reflects a
better than expected uptake in TV advertising and internet
marketing services such as Liansuo.com and other value added
internet marketing services based on cloud-based technology, as
well as brand management services such as brand marketing with
Weibo360 solutions and other brand managements solutions. As the
economy in China continues to improve, we believe that we are well
positioned to capture an increasing share of the overall growth in
the economy."
About ChinaNet Online Holdings, Inc.
The Company, a parent company of ChinaNet Online Media Group
Ltd., incorporated in the BVI ("ChinaNet"), is a leading B2B
(business to business) Internet technology company focusing on
providing O2O (online to offline) sales channel expansion services
for small and medium-sized enterprises (SMEs) and entrepreneurial
management and networking services for entrepreneurs in China. The
Company, through certain contractual arrangements with operating
companies in the PRC, provides Internet advertising and other
services for Chinese SMEs via its portal websites, 28.com,
Liansuo.com and Chuangye.com, TV commercials and program production
via China-Net TV, and in-house LCD advertising on banking kiosks
targeting Chinese banking patrons. Website:
http://www.chinanet-online.com.
Safe Harbor
This release contains certain "forward-looking statements"
relating to the business of ChinaNet Online Holdings, Inc., which
can be identified by the use of forward-looking terminology such as
"believes," "expects," "anticipates," "estimates" or similar
expressions. Such forward-looking statements involve known and
unknown risks and uncertainties, including business uncertainties
relating to government regulation of our industry, market demand,
reliance on key personnel, future capital requirements, competition
in general and other factors that may cause actual results to be
materially different from those described herein as anticipated,
believed, estimated or expected. Certain of these risks and
uncertainties are or will be described in greater detail in our
filings with the Securities and Exchange Commission. These
forward-looking statements are based on ChinaNet's current
expectations and beliefs concerning future developments and their
potential effects on the company. There can be no assurance that
future developments affecting ChinaNet will be those anticipated by
ChinaNet. These forward-looking statements involve a number of
risks, uncertainties (some of which are beyond the control of the
Company) or other assumptions that may cause actual results or
performance to be materially different from those expressed or
implied by such forward-looking statements. ChinaNet undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required under applicable securities
laws.
CONTACT: MZ North America
Ted Haberfield, President
Tel: +1-760-755-2716
Email: thaberfield@mzgroup.us
Web: www.mzgroup.us
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