BEIJING, May 2 /Xinhua-PRNewswire/ -- Xinhua Finance Media ("XFMedia"; Nasdaq: XFML), China’s leading diversified financial and entertainment media company, announced that its Advertising Group has increased its market share to nearly 50% for real estate ad sales on the Sina.com website, China’s leading portal site.
XFMedia’s Advertising Group started selling advertising for Sina.com in March 2006 as an agent for the thriving real estate sector. Earlier this year it became one of only two advertising agents handling sales for the sector at Sina.com, where its market share of ads sold has risen to nearly 50% of the real estate ads appearing on the highly-trafficked Chinese portal.
According to the 2007 forecast by Sina.com, the total advertising revenue of the real estate sector is RMB￥130 million (US$17 million). "Internet advertising is growing in China as in other parts of the world and XFMedia is pushing to play a major role in this area," Xinhua Finance Media COO Mr Zhu Shan said. He went on to say "The speed with which XFMedia’s Advertising Group has moved into a commanding position in this area reflects the dynamism and market focus of the advertising sales team."
"I am delighted that we are building such a strong relationship with Sina.com. XFMedia aims its services at high net worth individuals nationwide, so there is a good synergistic fit with the website," said Mr Zhu. "Our sales capability is strong, and we look forward to building revenue even further in association with Sina.com in the future."
XFMedia’s Advertising Group handles nationwide advertising for television, newspapers, magazines, online and outdoor media, among which XFMedia possesses exclusive rights to on-campus billboards in select Shanghai universities, as well as advertising for radio stations in Beijing and Shanghai. The Advertising Group designs, produces and places advertising for both in-house and outside clients.
About Xinhua Finance Media Limited
Xinhua Finance Media ("XFMedia"; Nasdaq: XFML) is China’s leading diversified financial and entertainment media company targeting high net worth individuals nationwide. The company reaches its target audience via TV, radio, newspapers, magazines and other distribution channels. Through its five synergistic business groups, Advertising, Broadcast, Print, Production and Research, XFMedia offers a total solution empowering clients at every stage of the media process and keeping people connected and entertained.
Headquartered in Beijing, the company has offices and affiliates in major cities of China including Beijing, Shanghai, Guangzhou, Shenzhen and Hong Kong. For more information, please visit www.xinhuafinancemedia.com .
Xinhua Finance Media is a subsidiary of Xinhua Finance Limited ("XFL"; TSE Mothers: 9399), China’s premier financial information and media service provider. XFL owns 36.9% of the equity and 85.4% of the voting rights of XFMedia through its holding of class B common shares, which have ten votes per share. The investing public, the company’s China partners, executives and staff own class A common shares in the company with one vote per share. The dual-class common share structure was created to accommodate the regulatory landscape of China’s media sector.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," ‘‘confident’’ and similar statements. Among other things, expectations about the Chinese advertising market and quotations from management in this announcement contain forward-looking statements. Statements that are not historical facts, including statements about XFMedia’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statements. Potential risks and uncertainties are risks outlined in XFMedia’s filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1. All information provided in this press release is as of April 19, 2007, and XFMedia undertakes no duty to update such information, except as required under applicable law.
For more information:
China
Xinhua Finance Media
Ms. Joy Tsang
Tel: +86-21-6113-5999
Email: joy.tsang@xinhuafinancemedia.com
United States
Richard Lewis Communications, Inc.
Mr. Gregory Q. Tiberend
Tel: +1-212-827-0020
Email: gtiberend@rlcinc.com
