eBay Eachnet Suffered CNY104 Million Loss In 2007

By TechSecurityChina.com Editor
March 28, 2008

Tom Group’s 2007 financial report shows that the company’s business revenue in 2007 was CNY2.683 billion and losses reached CNY297 million, which the company says is mainly caused by eBay Eachnet which suffered a loss of about CNY104 million.

Tom Group’s newly appointed CEO Yang Guomeng says the company’s big loss was mainly due to a one-time expenditure, particularly the payment for the use of eBay platform and the cost of promotion, but he does not say when eBay Eachnet can make up the deficit.

Tang Meijuan, former CEO of Tom Group, who has reportedly resigned because of personal reasons, says the company’s acquisitions in the year also attributed to about CNY164 million in losses.

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