Hong Kong, 15 May 2000----TOM.COM LIMITED ("TOM.COM") (stock code 8001/Bloomberg HK8001) today announced its results for the first quarter of 2000 and the portal development strategy.
"We are now moving ahead to develop ten further content-rich portals to be launched as early as June 2000," Chairman Frank Sixt explained. "Each portal exploits a carefully researched aspect of Tom's dual themes 'Total China Experience' and 'Lifestyle of Chinese'. We plan vibrant websites to tap into the interests and lifestyle of local Chinese communities in major cities around the world. The roll-out will start in Taiwan, Toronto and San Francisco, where we are confident of an immediate and warm response from overseas Chinese users."
Results announced today are the company's first results to be posted since it listed on 1 March this year on Hong Kong's Growth Enterprise Market (GEM). The company had operated at a loss during the first quarter. Expenditure on ongoing website development amounted to just over half of the total reported loss of HK$45,370,000. Turnover amounted to HK$738,000.
Commenting on the results, Mr Sixt said, "TOM.COM continues to attract major interest among investors after its successful listing and the launch of its first multilingual China-related websites - TOM.COM and GoChinaGo.com. I believe that this interest reflects Tom's very promising future prospects."
Mr Sixt noted that to help put TOM.COM's global strategy development on an even faster track, US Internet industry pioneer Mr James Sha had been appointed to the Board as a non-executive director to advise on strategies relating to TOM.COM's international portals and overseas investments.
"We are most encouraged by the progress we have made so far," said Chief Executive Officer Carl Chang. "We have created a strong brand firmly centred on China yet international in scope. TOMCAST push technology has given us an average daily page view of over one million, while the launch of travel site GoChinaGo.com shows how quickly we have been able to leverage on rising China tourism both in-bound and out-bound."
"We have strong shareholder support," Mr Chang added. "This, plus our strategic alliances with authoritative China partners in each field Tom covers, will ensure that we become a prime Internet user resource generating steadily increasing revenues."
The ten portals that TOM.COM will next launch include news, personal finance, travel, sports, music and movies, lifestyle, games, love and relationships, self-enrichment and culture. Their multimedia content will be accessible through both broadband and WAP applications.
This release and other information about TOM can be accessed via TOM.COM.
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